value George 3rd two pence

[Pheon111]

Hello everyone

Anyone know what the likely value of this George 3rd two pence is ?

Thanks

[Figleaf]

There is no market for such a coin that is deep enough to form a price. For an impression of monetary value, a catalogue quote or auction result may be the closest you can get. See this thread.

Peter

[mrbadexample]

There is no market for such a coin that is deep enough to form a price.

I don't understand what you mean Peter. I'd have said there's a good market for this coin in this grade. 

I for one would like to own it. :p

[Figleaf]

What you are saying is that there is demand for and supply of this coin. That is correct.

What I am saying is that the demand and supply is not large enough for price formation. For price formation by demand and supply, you need a situation known as perfect competition. Wiki lists 12 requirements, but some are overlapping. In any case, perfect competition is an exception, not the rule. There are lots of people, especially politicians, who think it is the other way around.

Practically all coins, including this one, are traded in an environment that is not perfect competition. That's not bad, it just means that there is no fixed price for the coin, like there is a fixed price for e.g. wheat, oil or rice. It's more like the price of e.g. apples. On the Sunday market in a nearby village, there are a number of stands where apples are sold. If two dealers want the same price it is a coincidence and by the end of the day, it is fairly easy to negotiate a discount.

Peter

[mrbadexample]

I don't understand economics. I'll stick to coins. 

So essentially, it's worth whatever someone is willing to pay on the day it's for sale?
 

[Prosit]

Yep that is what it will sell for

However I think it safe to assume that coin couldn't routinely be bought for $10.
I would stick my neck out and guess it might sell between $60 and $200 USD.

But a guess is all it is. Keep in mind I haven't been all that successful telling the future if the past attempts are used to judge.
Dale

I don't understand economics. I'll stick to coins. 

So essentially, it's worth whatever someone is willing to pay on the day it's for sale?

[Kopper Ken]

Dale is on target with the price range.  I just checked the website of a GB coin dealer here in the States. You might check recent Ebay sold auctions for 2p cartwheels.

KK

[Figleaf]

So essentially, it's worth whatever someone is willing to pay on the day it's for sale?

It is worth whatever someone who knows it is for sale and has the liquidity to buy it available is willing to pay on the day it's for sale - provided we are talking about an auction. Otherwise, it will be sold either for whatever price the seller thinks some buyer is willing to provide, first come first served, or not at all.

The main point is simply that you normally can't predict a price. All you can do is get price guidance, like catalogue quotes or auction records, but the actual price you are paying may be a fraction or multiple of that.

Peter

[Prosit]

I imagine someone like De Beers can predict with incredible accuracy what their products will sell for   

Dale




 

.....The main point is simply that you normally can't predict a price. All you can do is get price guidance, like catalogue quotes or auction records, but the actual price you are paying may be a fraction or multiple of that.

Peter

[Kopper Ken]

I don't believe we need to get philosophical about buying or selling coins, having a basic understanding of supply and demand, but I would definitely be in as a buyer of this GIII 2p if it was put up for sale and I was aware of it. It is a nice coin in great condition.  My buying price would definitely be in that range, as it would be on any of the online auction sites. 

KK

[Prosit]

I have the 1797 Penny but not the 2p. Of course my penny is no where near the same grade.
My oldest 2p is 1971 :-)

I doubt I would bid on this one. I suspect it would sell for more than I would give for any coin without some serious planning.
I could but that isn't the way I approach my coin hobby.

Dale

[onecenter]

Hello everyone

Anyone know what the likely value of this George 3rd two pence is ?

Thanks

Nice BIG copper coin!  Excellent preservation for a 219-year old piece.

[Pheon111]

Thanks for all your  thoughts.If I put it up for sale I will post and let you all know.