Lot 176
The 'Benchmark' coin ex the 'Draper Hoard'
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Notes:
- A well-known collector of Australian coins of the recent past had a standing order with coin dealers to purchase for him any 1935 Florin considered to be Choice Uncirculated or better. His Florin collection was at the time without peer but he maintained that he had yet to come across a 1935 Florin which satisfied his standards. How was such a relatively common coin so difficult to acquire in high grade he continually asked as he added another 1935 Florin to his pile of cast-offs. The situation changed in March 2000 when a small hoard of eighteen 1935 Florins emerged into the marketplace which bettered any florins of that date that had previously been sighted. The coins were early strikes with slightly proof-like fields which came to be known as the 'Draper Hoard'. It is not often that you get to examine the best coins of the date in one place and at one time and the collector sent us on a mission to pick the best of the best on offer. After closely examining all the coins we arrived at just two that we considered to be a lock MS65 grade, and the one we chose for him we thought was slightly better. He had found his coin after long searching and it sat proudly amongst the other florins in his set. It stands to reason that the majority of high-grade 1935 florins that have been third-party graded were part of the 'Draper Hoard', and currently there are ten coins that have graded PCGS MS65, one MS65+ and one MS66. If this is the case then PCGS have been less critical in their assessment of the coins than we originally were. Despite currently holding the bronze position we still believe that the 1935 'Benchmark' Florin originally from the 'Draper Hoard' and graded PCGS MS65 is the standout coin of the date.
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