Republic gold 100 Soles 1952 MS66 Prooflike NGC Price realized: 37,200 USD
Heritage auctions 3 November 2023
The 100 soles coin above with a very low mintage of 126 pieces was purchased 4 years ago for $12,000. It has tripled in value in the last 4 years. SImilar coins from years of higher - but still limited mintages - in high grade have also tripled from values that 4 years ago were closer to bullion.
Coins that once were purchased from bulk dealers like apmex have now found their way into exclusive high end auctions.
Not all coins that started out as bullion - as all coins once did - attain great collector value. But modern rarities that strike collectors' fancy are attaining the high prices.
For example the coins above: France Republic gold Piefort 5 Francs 1960 MS67 NGC mintage: 50
Price realized: 9600 USD Heritage Auctions 3 November 2023
THis coin was purchaed only three years ago for $4200. THe thing to realize is that the price of bullion gold over this period has been relatively stable. UP a little down a little. I think the bullion price will eventually break out when people realize the economy is too debt laden to do anything but sink over time taking the value of the dollar with it.
But meanwhile all sorts of limited issue high grade modern coins that were issued as novelty bullion issues have sky rocketed in value in the last few years.
Canary in the coal mine.
These coins go up in value ahead of bullion because bullion is fungible. One bullion coin is exactly like the next. But bullion that has an atractive design (the famous Oscar Roty sower image above) and is issued in very limited numbers is catching a major bid.
Even coins issued in the last few years :
Elizabeth II (1952-2022), gold proof Two Ounces of Two Hundred Pounds, 2020, Three Graces, struck in 999.9 fine gold, sold for 15,000 USD in the Sovereign Rarities aucion of 26 September 2023
THats's a pretty hefty price tag for a bullion coin minted four years ago. THe mintage was 335 pieces. Not tiny - but the design is tremendously popular and the mintage is small enough.
This doesn't seem to be an abberation. There are enough issues catching a greater and greater bid auction to auction year after year that the trend seems well established.
Many coins and medals from the mid 20th century that were once bullion pieces are now hotly pursued collector's items.
And Central Government mints in Paris, London, Utrecht, Jablonec, and British dependencis like Alderney, Ascension Island and St Helena and others are getting a piece of the action with new limited edition pieces sometimes with mintages as low as 20 pieces.
If you take a shot on an attractie low mintage design already graded as MS 70 and buy somewhere near bullion it's tough to see the downside.
More and more collectors are doing it.
And the trend seems sustainable as long as the world's major currencies are being debased to pay for astonishing debt service levels.
Which would appear certain into the foreseeable future.
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