Price analysis-Spence Tokens at Sale Today

[Conderluva]

The DNW sale of Robinson Brown's Middlesex tokens brought to market a large number of rarities that are not easily found in dealer inventories these days.  Not surprisingly, the prices were strong for all tokens from start to finish.   Many of the Polictial/Social tokens, more than a few of which are of great interest to American collectors, appeared to obtain some of the highest prices.  I aim to put together a more detailed analysis of the whole sale...but for now here's a taste.

A quick breakdown of....
Spence Tokens sold by DNW (RSB II)  10-6-2010
Only tokens that were manufactured by Spence (Excludes Skidmore mules created with Spence’s dies and Hangman tokens)   
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Per Token Rate - Halfpenny    

Winning Bid  140.532840722496   With BP 168.639408866995

MEDIAN         104.5                                            125.4
------------------------------------------------------------------------------------------   
Per Token Rate - Farthing   

Winning Bid  152.777777777778   With BP 183.333333333333

MEDIAN         95.3571428571429                   114.428571428571
-------------------------------------------------------------------------------------------      
Per Token Rate - Halfpenny and Farthing   

Winning Bid  141.680803571429   With BP 170.016964285714

MEDIAN         104.5                                           125.4
-------------------------------------------------------------------------------------------      
Lowest per token rate   
Winning Bid  64   With BP  76.8
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Highest per token rate (a single token lot)   
Winning Bid  390   With BP  468
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[ms67dmpl]

Great analysis conderluva!

Checking in live from the auction room right now...some record prices are being set and the action is intense! The bidding on the "hanging man" pieces is most noteworthy....(not including bidders' premium)

Middlesex 290 - £780 (est. £100-150)
Middlesex 291 - £2600 (est. £300-400)
Lot 454, Middlesex 828, 831, etc. 6 pcs £4100 (est. £200-250)
Lot 480 (4 hanging man farthings) £1100 (est. £200-250)
Lot 481 (ditto) £1750 (est. £250-300)
Lot 483 (3 hanging man farthings) £1100 (est £150-200)
Middlesex 834 £950 (est. £100-150)
Middlesex 835 £1700 (est. £100-150)


and so on...

[Conderluva]

You in London MS67?

Lot 454 blew my mind.   All said and done it's almost 8,000 US for a group of 6 tokens...two were lacquered and they weren't even an entire group of EFs. WOW!!!   That's definately a record. 

Midd 834 @ with BP included around 1,800 US, with a scratched reverse.  I'm speechless...well, almost.   

[coinsarefun]

Great analysis conderluva!

Checking in live from the auction room right now...some record prices are being set and the action is intense! The bidding on the "hanging man" pieces is most noteworthy....(not including bidders' premium)

Middlesex 290 - £780 (est. £100-150)
Middlesex 291 - £2600 (est. £300-400)
Lot 454, Middlesex 828, 831, etc. 6 pcs £4100 (est. £200-250)
Lot 480 (4 hanging man farthings) £1100 (est. £200-250)
Lot 481 (ditto) £1750 (est. £250-300)
Lot 483 (3 hanging man farthings) £1100 (est £150-200)
Middlesex 834 £950 (est. £100-150)
Middlesex 835 £1700 (est. £100-150)


and so on...

 Holey carp!!!!
That is some recods selling price alright!

At least have a nice smooth dark ale for me

[mmarotta]

I am impressed!   
...  but sorry not to see my own jumping up in hammer price....

Still and all, having attended an auction or two, it is hard to say what transpired except that someone wanted the coins.  Do you know which of the winning bids were from a dealer or from a collector?

Regardless, in the long run, it underscores the importance of knowing your rarities and buying them when and as you can.

[Conderluva]

I only listened in online, but based on those prices I would say that the majority of those lots listed went to collectors.

[Larry]

Well, none went to me.  LOL

Prices were high; not surprising.

[ms67dmpl]

While most of those lots hammered to one of two buyers, there were multiple underbidders (both dealers and collectors)...not simply a case of two people who absolutely had to have a particular D+H number for their sets. Overall the prices realised showed (I'm going to sound like a broken record to those who speak with me regularly about these) how important it was to view the lots in person or have a competent agent view them for you. For example, there were 2-3 "hanging man" pieces in the evening session of the sale (lot numbers in the 800s or something) that were in BETTER condition than those which sold earlier as part of the Brown collection, but sold for a fraction of the price, likely because they were not pictured in the catalogue and/or hidden in multi-piece lots. These seem like bargains in retrospect. Endless more examples could be mentioned, but all lead to the same conclusion: for the kind of prices it now takes to acquire rare tokens (and believe me "hanging man" halfpence/farthings are not rare, though Middx 291 is somewhat scarce in gem unc...I believe I was the underbidder on that lot but I may have been #3) trying to bid without knowing what you're bidding on will be a losing proposition 99% of the time. It will be interesting to see how the hanging pieces that occur in Warwickshire (some of which genuinely are VERY rare) do next year. Are those $10k each now in so-so uncirculated?? :-)

[Newmismatist]

Were those prices in British Pounds? or US Dollars?

[Conderluva]

All GBP in the original post.