Biafra One Shilling 1969 - Break Away Republic Vs Nigeria

I assume you mean this auction.

If you look, there is a difference between your coin and that one being sold. There were two types of 1 shilling coins struck for Biafra in 1969. The more common one (KM#2, yours) has the denomination as the numeral, "1". The scarcer type (KM#3, the type the seller has) has the denomination written out as the word "one".

My old 2006 Krause (yes, it's about time I got a new one) lists KM#3 at $450 in Unc. The NGC price guide, using data from the latest Krause catalogues, lists it at $550 in Unc. Unless there's been some new research published somewhere that there are indeed only eight examples of KM#3 known, then I think this seller might be talking through his hat. I wouldn't think that being the "finest known" slabbed coin when only two of them have ever been slabbed counts for much, either.

Still, the seller seems to have a good reputation. Perhaps they know what they're talking about, and these coins are rarer and more valuable than Krause implies.

"Only eight pieces known" is probably meant to indicate that this is the sum total this particular seller knows of. I assume that is correct. I also assume his knowledge is as full of holes as a Swiss cheese. A seller should never make statements to the effect of "So and so many known" unless he can back that up with an expert statement and analysis.

And of course, third party grading is only common in the US so it is not really interesting to check what has been slabbed. There is no reason why a large percentage of exemplars of an African coin should find its way to the US.

Krause obviously still thinks they're circulation issues, because they've given them regular KM numbers, not Pn numbers. NGC which slabbed the coin in the ebay auction has followed suit.

If you can find any information confirming this, I'd be interested to know. It would make completing the "circulation coins issued for Biafra" set much cheaper.