Colonial Coin Price

[Robert1963]

Hi all, I have a question that I know many of you will have an answer to. A while back someone said that my questions appeared that I had no collection plan and as now just like then I do not. Right now, I collect coins I should say purchase coins from Colonial to ancient and all the unique but not so collectable coins from the USA. Right now, I am looking for a Colonial coin (I usually only buy 1 of these types) I feel it could be a great deal but so many of you know so much more than me I must ask. I will try to upload photos or at the very least give you a link to the Ebay listing of the one I want. They are asking $62.00 for it and I would love to hear your advice. The link is:

 

http://www.ebay.com/itm/1762-George-III-3-Pence-Maundy-Silver-British-Colonial-USA-RevolutionaryWar/282316192222?_trksid=p2047675.c100005.m1851&_trkparms=aid%3D222007%26algo%3DSIC.MBE%26ao%3D2%26asc%3D40130%26meid%3Da950ce4db21d4e93b4c2a972897d957f%26pid%3D100005%26rk%3D1%26rkt%3D6%26sd%3D152539231896

 

I hope I can upload the images. Please let me know what you think of the coin and price. Thanks

 

[asdfgh]

you should probably post this under the world coin forum

[Robert1963]

Ok, I was a little confused about that because they where used by the Americans but they where from other countries thanks for the advice

[bstrauss3]

No they were not. Maundy money is a special currency given out by the King/Queen as part of a yearly celebration.

http://www.royalmint.com/discover/uk-coins/maundy-money

Given these were special, ceremonial coins, I'd expect higher quality (i.e. is it real?)

 

[DWLange]

The Maundy coins (silver penny, twopence, threepence and fourpence) typically didn't enter circulation, but the threepence piece was the one most likely to, as this denomination was also issued for general circulation in later years. 

[Conder101]

Yes, this is NOT a US colonial coin.  One thing to watch on ebay, a lot of people will call any coin from the pre-Constitution years a "colonial" even if they were never used anywhere near the US.  Kind of like how they call Netherlands East India duits "New York pennies" even though they were made for the Indonesia area on the other side of the world, and a hundred years after the Dutch were driven out of New York. 

[coinman1794]

The coin depicts the King the Americans rebelled against, but very little British silver circulated in Early America due to mercantilism, and even fewer Maundy coins would have made it to the colonies. Many George III Maundy coins, especially later issues, did not circulate at all.

As for this coin, you can do better. A choice mint state example is around $100.

[Conder101]

but very little British silver circulated in Early America due to mercantilism

There was also relatively little 18th century British silver coinage to circulate anywhere  After George III came to throne in 1760 though the end of the century less than 66,000 pounds sterling of silver coins were struck (if that was all in shillings it would have amounted to about one million coins.), and 55,000 of that was in 1787 alone.

[World Colonial]

23 hours ago, Conder101 said:

 

There was also relatively little 18th century British silver coinage to circulate anywhere  After George III came to throne in 1760 though the end of the century less than 66,000 pounds sterling of silver coins were struck (if that was all in shillings it would have amounted to about one million coins.), and 55,000 of that was in 1787 alone.

I have never seen mintage data but the proportion saved including in high quality must has been quite high.  I don't collect any British coins but have noticed that generically, they aren't hard to buy in higher grades at all.  Late 18th century especially so.

[BillJones]

Although this coin could have been a part of a Mondy set, the Spink catalog lists it in the circulated grades which indicates that this coin was used for commerce. It is Spink number 3753. NOTE The king or queen gives out Mondy Money on the Mondy Thursday, which is the date before Good Friday. The coins are given to old people or the poor as part of the Mondy Thursday ceremony.

There is a chance that piece like this could have been used in America, but it's a slim one. The colonists were eager to use most any coins that they could get, and finding one in silver was a big bonus. Most of the silver coins that were used in colonial America were made by the Spanish Empire, not the British.

I don't care for this piece because it appears to have clipped or sanded. The edge at the bottom of the obverse / top of the reverse should not be flat. If this were a clipped planchet, it should be rounded.

I would pass on this piece because of preservation issues, and not much of case can be made that it is an "American colonial coin."