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John Key 2-24/2389
Martin Everett


Joined: 01 Sep 2005
Posts: 786
Location: Brecon
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Medal

http://www.dnw.co.uk/medals/auctions/rostrumauctions/auctioncatalogue/results.lasso?SkipRecords=50&Auction=Medals 23 Sep 11&action=Browse Entire Catalogue&MaxRecords=50&ViewOptions_ShowThumbnails=1

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Martin Everett
Brecon, Powys
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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Details as follows:
http://www.dnw.co.uk/medals/auctions/rostrumauctions/auctioncatalogue/lotdetail.lasso?auction=Medals+23+Sep+11&I'd=1539&lot=82
Description
The Zulu War medal awarded to Lance-Sergeant John Key, 2/24th Foot, who served with �B� Company at the Defence of Rorke�s Drift
South Africa 1877-79, 1 clasp, 1877-8-9 (2389 Lce. Sergt. J. Key. 2-24th Foot) edge bruise, otherwise good very fine
�20000-25000
Footnote
John Key attested at Secunderabad, India, on 28 August 1871, and was posted to the 2nd Battalion, 24th Foot. Appointed a Drummer in 1873, he reverted to Private in September 1877 and was appointed Lance-Corporal in May 1878. He was promoted Corporal in July 1878 and appointed Lance-Sergeant on 19 February 1879. He thus served as a Corporal in �B� Company at the epic defence of the mission station at Rorke�s Drift on 22nd/23rd January 1879. He was promoted to Sergeant in March 1880 and placed on the unattached list at Secunderabad on 1 March 1884


The medal to Pte Dunbar struggled at the last auction so it will be interesting how this one fares.

Peter
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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Hammered at �24,000 - cost nearly �30,000 with commission and VAT.

Peter
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Peter Ewart


Joined: 31 Aug 2005
Posts: 1797
Location: Near Canterbury, Kent, England.
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Remarkable, Peter. This chap was neither wounded, killed nor decorated. Nor did he leave any account of the action and nor was he mentioned in a single account - as far as I can see - by any other participant, and nor was his previous or subsequent army career of particular public note - any one of which might well have attracted a premium. Nor was it accompanied by any other medal.

So this price represents, presumably, the current value (in tough economic times) of a "standard" (not an appropriate word, I know!) Rorke's Drift defender's SAGS medal - unless, of course, the buyer had a particular interest in this medal or in Key himself. Of course, no auction takes place in a perfect market, but it makes you think.

I know you know what I'm thinking right now ...!

Peter
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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I can't get very excited by Key.

Dunbar, by comparison, was an absolute steal at roughly the same price. I know which one I would rather have.

At this level, prices are determined by who wants one. Dealers will be reluctant to spend �30,000 on stock, add a mark-up, and possibly have the medal sitting in the shop window for six months.

But for the collector/investor earning 0.1% interest in the bank, why not buy a medal and enjoy being the custodian as well as, potentially, getting a better return on your money.

Peter
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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Now for sale at Stanley Gibbons.

Price is �38,0000. Whether they get it is another matter...........

http://www.stanleygibbons.com/stanleygibbons/view/product/sgproductcatalog/210844/210876/210893/SG746026

Peter
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Dewi Evans


Joined: 31 Aug 2005
Posts: 177
Location: Chwilog, North Wales
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peterw,

I think you can buy it for less than that : �38,000!

Kind regards,

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D W Evans
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Peter Ewart


Joined: 31 Aug 2005
Posts: 1797
Location: Near Canterbury, Kent, England.
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�38,000 for a single RD defender's SAGS!!! What would that mean for some of the others? By this definition, there will be some campaign medals of other RD defenders worth �50,000 - �100,000 or more, which I'm sure can't be right. But what do I know about medal prices?

Given the present economic situation, perhaps the 1877-79 campaign medal is the "new gold"? Should we all be putting our pennies into medals such as this? It's certainly a change from the daily doom-laden bulletins on the yield of Italian government 10 year bonds!

Peter
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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Stanley Gibbons is offering medals as an "investment" asset class alongside coins and stamps. Their stock consists of classic actions or gallantry medals, a number of which have been bought recently at auction for what have been high prices compared to previous examples sold. Stanley Gibbons then add their own mark-up before offering the item(s) for sale. Some of the stock is truly wonderful.

In my view, very few medal collectors will pay the price asked by Stanley Gibbons because they will have been aware of the auctions and had an opportunity to bid.

Compared to recent sales of Rorke's Drift Defenders' medals, there is no way that Key's medal is "worth" �38,000. Whoever buys it at that prices may well have great difficulty recouping their money if they needed to sell in the next few years. But to an "investor" willing to tie up money in the medal for the next 10 years - and have the pleasure of ownership in that period - it may be an attractive proposition.

Peter
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Peter Ewart


Joined: 31 Aug 2005
Posts: 1797
Location: Near Canterbury, Kent, England.
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The prognosis for the economy - the world's, not just GB's - might suggest that far fewer people will have large disposable sums available for medal collecting over the next 5 or 10 years or so, unless investing in a medal purely and simply for long term financial reasons - risky, indeed. If the much-feared economic armageddon does come to pass - and I, for one, don't see how it will be avoided (altho' obviously hope I'm wrong!) - then I suppose none of us will be able to afford to buy medals as we'll all be wiped out.

On the other hand, by then their value will be back down to 1879 levels (about one euro?) and we'll all feel like Lord Ashcroft! Can't help feeling Stanley Gibbons will catch a cold with this policy.

Peter
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peterw


Joined: 30 Aug 2005
Posts: 865
Location: UK
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A regional medal dealer is renowned for his ambitious prices. Consequently when he appears at medal fairs his stock is known as the "travelling museum" due to the lack of change.

Peter
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John Key 2-24/2389
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