Author Topic: 1770 3D Maundy Coins  (Read 68 times)

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Offline 3dogs

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1770 3D Maundy Coins
« on: April 30, 2019, 11:19:22 PM »
I'm a new member and this is my first post. I am a new collector of Maundy coins and live in Texas USA. It is hard to get detailed information on Maundy's and find the right publication that has it all--if there is such a thing. What I do have seems to have conflicts and makes me question how accurate the information is. Price guidelines seem to be all over the map. So it does prove to be challenging and interesting to say the least. If someone has been collecting these coins for awhile and can help me get on the right course/direction--it would be appreciated.

As per my subject, I have no idea where I would find the value to purchase a 1770 3D coin. I have found the coin--but the material I have don't even show that this coin exists or even a suggested purchase price. Thanks

Offline Manzikert

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Re: 1770 3D Maundy Coins
« Reply #1 on: May 01, 2019, 12:31:49 AM »
I can't help with the prices but the best book I know of about the history of the maundy money is Brian Robinson's 'Silver Pennies and Linen Towels: The Story of the Royal Maundy', 1992, ISBN 0-907605-35-4

The 1770 3d coin was also issued as general currency, but the price will be very dependent on the condition of course.

Alan

Offline 3dogs

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Re: 1770 3D Maundy Coins
« Reply #2 on: May 01, 2019, 12:55:42 AM »
Alan
Appreciate the reference to the book. That is one that I don't have.
So when I found the coin--it was a shock and then--how do you find out what it is worth if you have no reference to it? So I did the dumb thing and bought the coin for what the man wanted--70 for a very good EF grade. Figured that 1/ I want the coin--guess I am a collector, 2/ figured it should be rare if I cannot find a reference to it or someone went to a lot of trouble to produce a fake. In any case, it is a gamble of 70 which I hope turns out not to be much of a gamble. I have the 1D and now am looking for the 4D so I complete the year.
Again, thank you for sharing the information. Hoping that everyday--I get a little smarter on these.
Mike

Offline Figleaf

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Re: 1770 3D Maundy Coins
« Reply #3 on: May 01, 2019, 06:25:17 AM »
We see the pricing issue often on this site. The first line of defence is "if you are not buying or selling, why do you care? The threepence 1770 is listed as KM591 @ $45 in the 5th edition. Does that make you happy? Have you learned something?

The second line is slightly more complicated. What you learned in school about price being determined by supply and demand is a mathematical structure, a thinking model, that hardly ever exists in practice and is far more important to supply than to demand. The only coin that comes somewhere near the model in all times from all over the world is the wheat back penny.

Try thinking in this model, that comes much closer to reality, instead: the value of something is worth the pleasure you derive from it. That includes the pleasure of finding exactly the same thing at a lower price and the pleasure (if any) of haggling. Example: you have a fine collection of Maundy money, but you don't have KM591. Someone offers you KM591 in EF @ 70. If you want the piece badly enough, you'll pay it. If you'd rather have two other coins @ 35, you let it go. If the same piece is offered to a non-collector, it may have a value of 10 ("I could perhaps have jewellery made out of it"). If the seller cannot find a collector, it may go for 10. In slogan format, the model is "greed and fear". Does that sound familiar? Judging from your enthusiasm you got a bargain.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline 3dogs

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Re: 1770 3D Maundy Coins
« Reply #4 on: May 01, 2019, 06:53:24 AM »
Peter
Many thanks for the message and education. I really enjoyed your model -Greed & fear-definately can relate.  Yes I am learning and hope to continue learning. To your point, the coin is in my collection and that will be a continuing pleasure for me.
Mike

Offline THCoins

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Re: 1770 3D Maundy Coins
« Reply #5 on: May 02, 2019, 09:24:54 AM »
You probably already have seen Tony Clayton's website ?