By: pirgah

Coins of the World
Metallic yellow

2 months ago
Post: 586
Date: 1700 - Inscription: Obverse: Petrvs II DC Portvgal Rex Reverse: 1700 Et Brasiliae Dominnvs Anno - Questions: Identification? Condition? Problems?

By: pirgah
2 months ago
Post: 598
On February 2017, liveauctioneers sold one for US$ 1,200. Maybe
I´m wrong but the coin showed here is in better shape than the one that was sold. A similar coin on another auction(1700R) was sold on a estimate basis of US$800-US$1,200. Judging by several other auctions a maximum value of US$ 1,200 is a reasonable price for that coin, in terms of market?
By: Paul

2 months ago
Post: 606

A spiffy coin. Here is some info about the range of values:

1. The date is 1700. The King of Portugal at that time was Pierre II, i.e., Peter II, Pedro II, PETRVS II, as read in the inscriptions.

2. The denomination is 4000 reis, as seen on the side with the crowned shield.

3. The catalogs report the weight at 8.05 grams. There are 31.1 grams in a troy ounce, so the coin has 8.05/31.1 = 0.259 troy ounces of gold, or probably a little less because the metal is probably not pure gold.

4. At current market levels, 0.259 ounces of gold is worth about $320 US dollars. This is called the base value (BV) of the coin. Some people call it the melt value or the bullion value.

5. Any value over BV is due to collector demand. With such an old and interesting coin, the collector premium over BV is substantial, as long as the coin has decent wear and eye appeal ratings.

6. Our picture shows two coins from the auction database. The (A) coin sold for $760 US dollars during a 2015 auction by iNumis. The (B) coin sold for $3700 US dollars during a 2015 auction by Maison Palombo. CoinQuest thanks the sellers for use of their coin photos.

7. From our picture it is perfectly clear why the (B) coin is worth more than the (A) coin. The (B) coin has no wear and knock-your-socks-off eye appeal.

8. At the low end of the price range, a 4000 reis which has been totally smashed, perhaps nicked, gouged, cleaned, or mutilated, would be worth BV, about $320 in today's gold market.

9. At the high end, a dazzling example can push retail sale price toward $4000.

10. Based on the analysis above, catalog values (which are always inflated compare to actual values), would run like this:

damaged: BV
worn (G4): BV + $100
average circulated (VF20): BV + $500 US dollars approx catalog value
well preserved (XF40): BV + $1000
fully uncirculated (MS60 to MS70): $5000

By: pirgah
2 months ago
Post: 610
Do you think the coin in my example can be classified as 'well preserved'? I know that it´s difficult to judge only by the image but does that coin seem to be cleaned? There are some coins from that year that appear more 'natural'.
By: Paul

2 months ago
Post: 622

No, I don't think 'well preserved' applies. There are too many flat spots in the design which indicate wear. I would call it average circulated. The eye appeal is good.

Grading coins is always difficult, even for well-seasoned collectors. If you look on the Internet there are 'grading guides' which show pictures of coins in various grades. These guides, as far as I know, only picture US coins.

Grading, like everything else in numismatics, is a very subjective matter.

There is only one reason you should buy a coin for your collection: because you like it. Buying coins because they seem like a good deal, or are 'too cheap to pass up' leads nowhere.


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