Coining It In

By New Worker correspondent

Readers will be delighted to learn that in these troubled times one important branch of commerce continues unabated.

Dix Noonan Webb (DNW), an upmarket London coin dealer invited this correspondent to take part in an online auction for some nice long- and short-cross pennies from the reign of Henry II. DNW helpfully pointed that bidding was sensible thing to do because buyers would be at home with plenty of time to follow their hobbies. As long as they have not suffered a 20 per cent pay cut on a minimum-wage job.

DNW’s optimism seems to be justified. It later reported that its recent sales were 99.1 and 100 per sent sold, announcing that “we are experiencing an unprecedented level of activity on our website, which, combined with record gold prices and a shortage of goods on the market, is leading to extremely strong demand and high prices at auction” in its plea for sellers.

Just to show how virtuous they are, DNW reported that that five per cent of the buyers’ premium derived from each lot goes to the British National Health Service Charities COVID-19 Appeal, which after three auctions amounts to £12,203 or about three Anglo-Saxon pennies. They warn buyers that there might be delays in delivery to the successful bidders. Not everyone will be convinced that this is the best use of a depleted delivery postal service.

Needless to say, DNW is not the only such dealer bravely undeterred by an annoying virus.

The more upmarket Sotheby’s reports that “a number of very successful sales held in recent days demonstrating the resilience of the global art market”, whilst its rival for two centuries Christie’s is also holding online auctions for essentials such as an 18th-century Copenhagen porcelain dinner service.

In France, Amazon had been forced to close its warehouse for selling non-essential goods and not doing enough to make their warehouses safe.