8 reales George III Countermark

Hey all,

This is the third coin I bought over the weekend at the NY coin show at the Waldorf Astoria. This is a coin I have wanted since the first time I saw it. I find the tiny George III portrait so intriguing. Anyway, I have seen prices of this coin vary. I paid $600 for this coin and it was marked for $750. It took two hours of haggling coming and going but I got it for the price I wanted. I just wanted to know from you guys if you think the price was fair, outrageous, or a steal. Also I feel that the coin should grade higher then F15. Perhaps the grader was having a bad day? So, please let me know your thoughts and feel free to post yours. I love these coins.

Larry

 

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The heavy wear to some portions of the reverse may be what dragged it down to its assigned grade. That said, if it had been certified as VF20 nonetheless, I'd be hard pressed to argue with that. A very cool coin in any event.

 

Very nice coin Larry.

I have some coins with Costa Rica counter-stamps. Costa Rica stamped coins from other countries in order to make them legal money for commerce in Costa Rica. They used this female head counterstamp to designate coins equivalent to 2 Reales in 1845.

 

Counter stamped coins are awesome. It adds to the history and shows where the coin traveled. I intend to focus my collection on counter stamps and marks. Beautiful coin collect89!

And Lucky Cuss... I think the coin deserves a VF20 at least. The wear is mostly from the counter stamp. I have seen coins in worse condition grade higher.

 

Doug's right, we counterstamp guys grade the stamp and the coin. To us it's usually more important than the coin itself. Different types of coins may increase or decrease the value of a stamp but the host coin is usually of secondary importance.
Great pickup Larry! One of the few non - US stamps I wouldn't mind owning. Thanks for posting it.

Bruce

 

Thanks for the positive insight! I didnt know that about counter stamped coins. That makes me look at it differently. I really fell in love with this counter stamp since the first time I saw it and am a proud owner. While I do not intend to sell I would like to know if you guys feel I paid a fair price for it.

Thanks
Larry

 

The price you paid is fair for the grade. $750 is also not outrageous, but really at the high end what comparable examples tend to go for. I am talking about raw coins though. I suspect the certification brings a premium as there are many counterfeits.

 

I also think you did okay on the price Larry, especially for a slabbed example. I don't have any slabbed coins in my counterstamp collection but this is one I would never buy raw...like Numismat says, too many fakes out there.

Bruce

 

Thanks fellas. That's why I bought this coin slabbed. I know there are many counterfeits. I also resolved to buy this at the coin show for the same reason. I am happy with the purchase. I may start focusing exclusively on counter stamped coins.

 

Is there any scholarship on the meaning of the countermark? Was the coin remonetized after the time of George III?

 

Just your standard "I approve this as fine silver" sort of deal

 

as long as they were silver any coins from any country could circulate,but the people did not like foreign coins so they put the head of the king on the coins to make them look british.they still did not like them so they were overstamped as bank of England dollars value five shilling in 1804.crowns were than minted from 1818 on

 

Is that in fact how NGC assigns its grade to these?

 

I am an ancient coin enthusiast, but the countermark was all that I wanted with this 2000year old Greek beauty! love your george countermark!!

 

Awesome coin yoc!

 

newspaper article--Hampshire telegraph of 9 October 1809---------------the bank of England has of late had 100,000 Spanish dollars newly stamped at boulton & co ,s manufactory at Birmingham.the dollars were conveyed in two consignments of 50,000 via the grand junction canal.two bow street officers went with them to prevent depredations.the charge for stamping was one farthing per coin.-------(bow street officers were police )

 

I love the eloquence of the article... "to prevent depredations"? Oh my!

Bruce