Public Auction 260 Friday, 23rd October 2009

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Public Auction 260

Friday, 23rd October 2009

will be held on Level 3, Status International House,

262 Castlereagh Street, Sydney


Lots 4001 – 8501 commencing at 10.00am

Viewing at Status International premises: 262 Castlereagh Street, Sydney

Monday - Tuesday 19th – 20th October 2009 9.00am - 5.00 pm

Wednesday 21st October 2009 9:00am - 7.00 pm

Thursday 22nd October 2009 9:00am - 6:00 pm

Friday 23rd October 2009 8.00am - 2:00 pm

Limited viewing on Thursday & Friday (auction days), preference will be given to clients from outside Sydney.

Proprietor: Numismatic Describers: IT Administrator:

Stewart Wright David Carr Frank Zheng

Robert Morello

Business Manager: Stewart Wright Catalogue Production:

Robert Morello Les Jones Tseng Chiung-Yao

Office Administrator: Auctioneer: Despatch/Shipping:

Sabine Wincote Warren Elstub John Webber Carl Veen

Status International

: PO Box A2176, Sydney South, NSW 1235. AUSTRALIA

: +61 (0)2 9267 4525 FAX: +61 (0)2 9267 6124

Email : web:

The I S Wright Group

I S Wright

I S Wright

I S Wright

I S Wright

Shop 23 Adelaide Arcade

208 Sturt St

241 Lonsdale St

262 Castlereagh St

Rundle Mall





VIC 3350

VIC 3000

NSW 2000

Ph: 08 8223 7603

Fax: 08 8223-2129

Ph: 03 5332 3856

Fax: 03 5331-6426

Ph: 03 9650 2345

Fax: 03 9654 8825

Ph: 02 9264 7555

Fax: 02 9264 2656

Grant Morton

Ben Smith

David Carr

David Allen


The date for this auction has changed from the advertised

Friday October 16


Friday October 23.

We live in interesting times. The current financial crisis has affected a lot of people in many different ways.
The most obvious result of this, as far as Status International is concerned is seller’s decision or more probably indecision to sell which is reflected by a lesser number of quality lots in this auction.
The excellent results achieved for many items in our past two auctions have shown however that there are still plenty of buyers out there, for rare and desirable material, and I am sure the same will be seen after this auction.
There is no doubt there has a leveling off or even down turns in certain sections of the market but from my 30+ years of experience, as a coin dealer and auctioneer, I would say these have little to do with the current financial crisis and are more to do with overheated markets cooling off or pausing or current fads going out of fashion.
Having said the above many sellers wait too long and are disappointed when they sell. It is always best to sell on a rising market. Sell at a price you are happy with. Don’t worry about what the price will be tomorrow, it may be up, it may be down, in the end that is irrelevant. This advice applies to not only coins, banknotes, other collectibles and of course gold but also to houses and just about everything else. Remember just like the stock market, no one rings a bell at the top or the bottom and very few people manage to guess either.
In this auction we are pleased to offer an extensive range of world coins in top condition as well as many other scarce and rare coins and banknotes that are seldom offered, especially in Australia. It was interesting to catalogue these coins and notes to see how out of date the prices of the current KM & Pick catalogues have become on some coins and notes, relative to the world market. Some volumes of the KM World catalogues are issued yearly but prices of many sections have hardly been updated in over a decade. The prices for gold coins in the current edition are the same as those in the previous edition even though the bullion gold price indicated had come down by $200 per ounce. Even at this lower gold price many coins were catalogued at less than 75% of their gold value!!!!. With catalogues prices so obviously wrong, how relevant or realistic are many of the other catalogue prices????? Our reserves and estimate are based on international market prices, not KM catalogue values.
I recently visited the ANA coin convention in Los Angeles where most of the dealers in foreign (non US) coins, who actually had a half reasonable stock, were doing a very brisk business.
While there I discussed the availability British Commonwealth and foreign coins with a well known dealer. He said he estimated the number of nice UNC coins on the market is probably a quarter of what was available 10 years ago, that retail prices in many cases have doubled or quadrupled but that catalogue prices have remained the same for half the coins. As an example he mentioned UNC Indian QV – KGV 1 rupee coins. He said he used to buy these in London 10-15 years ago for £5 and you could buy any quantity, later they went up to £10, then £20, now they are at least £25 and you hardly see any and now the Indians are starting to buy them back. The KM catalogue value? It still hasn’t changed, its still $20.
The catalogue prices for most major countries are sometimes up to date but for smaller countries or countries where there is no home country catalogue, many KM & Pick prices are meaningless. There are 1000s of coins and notes, even in lower grades, that catalogue at just a few dollars that are never seen offered for sale. Next time you look at a KM or Pick catalogue ask yourself, does that price look realistic, taking into consideration, the size of the country, the number of coins issued, were they all issued, the year or period the coin was issued, were they all dated that year, potential survival rate of higher grade coins especially UNC, were coins collected at the time the coin was issued and when did you last see one offered for sale.
If you see a coin is readily available, the price you might have pay should be catalogue value or lower. Many modern coins are available at a fraction of their issue price and in many cases just over their intrinsic gold or silver value. If you seldom if ever see the coin offered for sale, maybe you should take the advise of a good friend of mine. “If you want it, buy it, you may never see another one”.
Good Collecting – Stewart Wright.
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