5 Pounds 1887

5 Pounds 1887

5 Pounds 1887

Period: 19th Century

Country: England

Ruler: Queen Victoria

Denomination: 5 Pounds

Mint: London

Weight: 39.94 g.

Quality: PCGS MS 62. Tiny scratches, tiny edge error.

Auction house: WAG online Auktionen oHG

Date: 12 February 2017

Starting price: 2.500 euros

Historical context

In order to commemorate the Golden Jubilee of Queen Victoria a new portrait of the Queen was included in British coins. The design was highly criticize but now it is considered the best known design of Benedetto Pistrucci, who became Chief-medallist at the Royal Mint.
The 1887 date is the commonest of all the gold 5 Pound coins. It was also the first year were PROOF and circulation versions were issued. In addition, as the life of the dies was very short and the high value of the coins made them not to circulate often, it is still common to find these coins in high quality.

Market

Even if it is a European coin its current price behaves in a similar way as if it was American: the prices significantly increases if the quality of the coin increases a little bit. It is very easy to find high quality 5 Pounds 1887. This makes their price very stable and predictable. In MS 61 we can see that they are commonly hammered at around $2.400 while in MS 63 they are commonly hammered at around $3.600 (one and two). There are not so many examples in MS 62, but we can take this one as a reference from November 2016. It was auctioned for 2.800 CHF. However, we should take into account that the coin that is now in auction has a “tiny edge error”. This error may have a big impact on the coin price, but I cannot judge it as it is not shown in the photographs.

Description from the seller

Five Pounds 1887. Friedberg 390, Seaby 3864. In US Plastic-Holder PCGS MS62.

GOLD. Winzige Kratzer, winziger Randfehler, vorzüglich – Stempelglanz

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