When we size up a coin and evaluate its potential for growth, we assess the coin on two levels.
The first is the rarity of the coin itself. There is a big difference when a coin is known by two examples. Or twenty-two examples.
The second aspect we look at is the rarity of the sector of the market to which it belongs. Our philosophy is that 'less is best’ for you don't want the market to be flooded with coins from the same sector.
In the case of the Proof 1893 Sovereign the sector we are looking at is the Veiled Head era of Queen Victoria which ran from 1893 to 1901.
For us, the ideal ‘investment’ scenario occurs when a coin is rare. And the sector is rare.
OK ... now we know the Proof 1893 Sovereign is rare. It is a Coin of Record and is one of two known. But how many other Veiled Head Proof Sovereigns are out there?
To assess the Veiled Head sector, we researched auction records and our own private treaty sales for the past 50-plus years.
We confirmed the existence of twelve Proof Veiled Head Melbourne Mint Sovereigns, many of which have not been sighted since the 1980s and 1990s.
Now we know that twelve Proof Veiled Head Sovereigns are never going to be slapped onto the table in one hit and offered for sale at the same time, so how often can a buyer realistically expect to see one such coin?
Our research confirms that you could realistically expect to sight a Melbourne Mint Proof Veiled Head Sovereign on the market every four to five years.
Now that's rare!