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British 1887 5 pounds


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Picked this up the other day. I'd grade it a nice AU, seems to have near prooflike surfaces, but unfortunately has a lot of hairlines, particularly on the obverse. 22k gold is soft, but I'm pretty sure it's from a past cleaning rather than mild circulation.


How much over melt do you think would sell for? I see a raw one on APMEX graded AU (cleaned/hairlines), price tag of $2500. http://www.apmex.com/Product/62452/Great_Britain_1887_5_Pounds_Gold__AU_Details.aspx That's melt value +$700 (spot +$600/oz). It looks to have very few hairlines compared to mine, although the photo looks to have been touched up significantly.

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I have seen some dinged up examples go for spot only, whilst the best uncirculateds can go exponential. But most of them fall in betwixt and do trade for a fair bit above spot if they are nice - these are large coins with 1.17 oz of gold in them and are the prize of the 1887 Jubilee set. They were minted and saved in enough numbers that they are not rare as a collectable, but still have a demand.

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