Thursday, November 17, 2016

Treasure chest coin sells for £270,000

A 300 years old Queen Anne Vigo five guinea gold coin found in a four year old’s toy treasure chest sells for £270,000 by Bonington's auction house near London. The rare coin is one of five lost coins out of 20 that were struck with gold, seized by the British from Spanish treasure ships in 1702.

5-guinea

The Queen Anne "Vigo" 5-guinea gold coin is one of only 15 known to have survived and is only the sixth example of its type to be offered for sale in the last 50 years.

The owner of the gold coin is a gentleman from Hertfordshire whose grandfather had given the coin to him to play pirate games with 30 years ago.

After he bought his own son a treasure chest, he dug the shiny gold coin out of a drawer and gave it to him to play with.

Gregory Tong, of Bonnington Auctioneers said it was a real ‘Del Boy and Rodney’ find. - a reference to a £6million pocket watch David Jason's character found on top of an old oven in a classic episode of Only Fools and Horses.

He added: “When I first told the vendor what it could be worth, he couldn’t believe it. He came back to see me the next day to see if I had been pulling his leg.”

The vendor, a married father from Hertforshire, does not want to be identified but did provide a letter of provenance with the coin.

He said: “My granddad had travelled all over the world during his working life and had collected many coins from the various countries he had been. He gave me bags of coins to play with (I was into pirate treasure) throughout my early years."

The "Vigo" coins were made from treasure that the British fleet seized in 1702 from Franco-Spanish ships returning from America, following the Brits' unsuccessful attempt to capture Cadiz. Struck in 1703, the coins were intended to divert attention from the failed campaign at Cadiz, highlighting instead the haul of treasure they had captured on their way home. The treasure was delivered with full pageantry through London and received at the Royal Mint by the Master of the Mint, Sir Isaac Newton.
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Tuesday, November 15, 2016

Vigo gold coin will be auctioned Nov 16

rare Gold Coin found in Kids Treasure Chest will be auction by Bonington's auction house near London on Wednesday, November 16. The company is offering to bidders worldwide a coveted Queen Anne "Vigo" 5-guinea gold coin valued at $240,000-$300,000.

'Vigo' 5

The coin is one of only 20 that were made from the 7.5lbs of gold the British seized from Spanish treasure ships in Vigo Bay, northern Spain, on Oct. 23, 1702 – exactly 314 years ago. It is one of only 15 known to have survived and is only the sixth example of its type to be offered for sale in the last 50 years.

Remarkably, the coin had been kept in a little boy's treasure box after having passed down through four generations of the same family. No one in the family had the slightest inkling of its true value.

"The coin was consigned to us by a gentleman from Hertfordshire whose grandfather had given it to him many years ago when he was a young boy. However, he had no idea what it was worth until recently, when he showed it to our coin specialist, Gregory Tong," said Boningtons spokesman Luke Bodalbhai. "Gregory immediately recognized the coin and informed the consignor of its value."

Stunned and delighted by the news, the consignor related the coin's history. "My granddad travelled all over the world during his working life and collected many coins from the various countries where he had been," the consignor said. "As a boy, I was into pirate treasure, so he gave me bags of coins to play with. As time passed, these coins went back into bags and boxes and were forgotten about. Then, after my granddad passed away, I rediscovered the coins and recalled how much I had enjoyed them as a boy. So I gave them to my own son to play with, including the Queen Anne Vigo 5-guinea. He kept it in his treasure box and has been playing 'pirate' with it just as I did, all those years ago."

The "Vigo" coins were made from treasure that the British fleet seized in 1702 from Franco-Spanish ships returning from America, following the Brits' unsuccessful attempt to capture Cadiz. Struck in 1703, the coins were intended to divert attention from the failed campaign at Cadiz, highlighting instead the haul of treasure they had captured on their way home. The treasure was delivered with full pageantry through London and received at the Royal Mint by the Master of the Mint, Sir Isaac Newton.

The coin is expected to break Boningtons' house record set earlier this year with the sale of a painting by Sir Winston Churchill.

For additional information, contact Boningtons by emailing admin@boningtons.com or calling 011 44 208 508 4800. Online: www.boningtons.com.
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Monday, November 14, 2016

3 things you must know before buying or selling gold

As holiday time gets closer, some people may want to sell their gold to get cash for purchasing gifts or may want to buy gold coins to give as gifts. Do your homework first, cautions the Professional Numismatists Guild (PNG).

selling gold

The PNG is a nonprofit organization founded in 1953 that's composed today of the country's top rare coin and bullion coin dealers who must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.

"We caution consumers and investors that if you don't know gold, you'd better know your gold coin dealer to help you make responsible decisions," advised Dana Samuelson, President of the Professional Numismatists Guild (PNG). The organization recently created an Accredited Precious Metals Dealer program (www.APMDdealers.org) to provide consumer protection and education in the buying and selling of gold, silver, platinum and other precious metals.

"Consumers need to be aware of three crucial marketplace factors before they buy or sell gold for the holidays: the actual cost per ounce ("spot" price); the bullion value versus any collector value; and timely delivery of the merchandise," Samuelson explained.

  • Price: Common gold bullion coins, such as the American Eagle and Canadian Maple Leaf coins, usually trade at a small premium over the spot gold price. Gold bullion coins ranging from one full ounce down to 1/10th of an ounce trade at 3% to 15% premium over spot based on the size of the coin and the quantity being purchased. The current spot prices for gold, silver and other popularly traded precious metals can be found online at www.apmddealers.org/spot-metal-prices.
  • Bullion vs. Collector Coins: If you are selling a gold or silver coin, make sure you know the difference between a "common" one and a truly rare coin that may be worth many times its intrinsic precious metal content because of its collector value. "In one case, an unscrupulous itinerant gold buyer offered only $60 for a rare gold coin actually worth about $10,000," said Samuelson.
  • Delivery: Under normal conditions delivery of coins you've purchased by mail order should be received with 10 to 14 days. However, if at the time of purchase the seller may be aware of a delivery problem it should be disclosed to you that there may be a delay.


Members of the Professional Numismatists Guild Accredited Precious Metals Dealer program must adhere to a Code of Ethics (http://apmddealers.org/apmd-code-of-ethics) that prohibits use of high pressure sales tactics and misrepresentation of the value of items being sold. PNG-APMD members must demonstrate knowledge, responsibility and integrity in their business dealings. They also must agree to binding arbitration to settle unresolved disagreements over numismatic property.

A list of PNG-Accredited Precious Metals Dealer members can be found online at http://apmddealers.org/apmd-dealers.

For additional information, contact the Professional Numismatists Guild by email at info@PNGdealers.org or by phone at (951) 587-8300.

Source: Professional Numismatists Guild
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Saturday, November 12, 2016

Singapore Botanic Gardens silver coin unveiled

On 11 Nov, The Monetary Authority of Singapore (MAS) unveiled the Singapore Botanic Gardens Unesco World Heritage Site Commemorative Coin to commemorate the inscription of the garden into the list of Unesco World Heritage Sites. The coin will be issued on Nov 29.

The Singapore Botanic Gardens is is the only tropical botanic garden in the world to be inscribed into Unesco World Heritage Site.

The Singapore Botanic Gardens (SBG) was inscribed into the list of UNESCO World Heritage Sites on 4 July 2015.

Botanic Gardens coin

This coin, issued in 1 troy oz 999 Fine Silver Proof Colour, showcases various elements that contributed to the success of SBG’s inscription as an UNESCO World Heritage Site.

The design features a cluster of rubber trees with herringbone incisions, the iconic Bandstand with accompanying yellow rain trees and sprays of Renanthera Singapore Botanic Gardens and Grammatophyllum speciosum, commonly known as the Tiger orchid, in vibrant colours and intricate engravings.

Specifications:
Mintage:15000 pc(s)
Issue Date:29-Nov-2016
Diameter (mm):40.70
Weight (g):31.10
Material:999 Fine Silver

The coin can be purchased individually or as a coin set.

The coins will be sold by The Singapore Mint. For inquiries and orders, the public can contact The Singapore Mint on 6566 2626 / 6895 0288 / 6222 2486 / 6238 2878 or via the Internet at www.singaporemint.com.

Orders must reach The Singapore Mint by Nov 28. The coins will be subjected to balloting if oversubscribed.
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China issue Sun Yat Sen commemorative coins

On 11 November, China's central bank issued a set of three commemorative coins marking the 150th birthday of Sun Yat Sen, forerunner of China's anti-feudalism revolution.

The coins feature Sun Yat-sen's image, with each set including a gold coin worth 100 yuan (14.8 U.S. dollars), a silver one worth 10 yuan and another one, made of copper alloy, worth 5 yuan.

Sun Yat Sen

The commemorative gold coin contains pure gold, fineness 99.9%, diameter 22mm, weight 8g and the maximum circulation of 10,000. The reverse of the coin show a portrait of Sun Yat-sen, and chinese writing "Sun Yat-sen's 150th anniversary" and "1866-2016" and denomination.

Sun Yat Sen house

The commemorative silver coin contains pure silver, fineness 99.9%, diameter 40mm, weight 27.34g and the maximum circulation of 20,000. The reverse of the coin show a former house of Sun Yat-sen, and chinese writing "Sun Yat-sen's 150th anniversary" and "1866-2016" and denomination.

A total of 300 million copper-alloy coins are also being issued, which will go into circulation alongside China's normal currency.

According to the central bank, this is the first time Chinese currency with Sun Yat-sen's image has been circulated.

Born in 1866 in Zhongshan in south China's Guangdong Province, Sun Yat-sen was the founder of the Kuomintang Party.
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