GOLD and the RARE COIN MARKET: Market report

 

A ‘Petition Crown’ of Charles II has been sold for CHF 949,375 ($1 million) to become the most expensive British silver coin ever sold at auction. The coin was included in a joint sale on May 8, 2024, by Numismatica Ars Classica, Classical Numismatic Group and Numismatica Genevensis 

The rare coin market - like the gold market - is being dominated by the Eastern countries.  Japan and China have both become voracious buyers of high grade ancient and European Rare coins and medallions. 

The US rare coin market it dominated by US buyers - as always.  But the Ancient and European markets - especially the coins of Great Britain in high grade has been very hot for over three years  now, principally because of Eastern Buyers.

Amercans have been moving into Ancients too.  But they have been quite slow to pick up on the the hot European areas which right now include (but are not limited to):

Gold Coronation medals: British, French, German, Holy Roman, 

Gold 5 guinea and 5 pound pieces.

Gold Triple Unites.

Silver  Victoria Gothic Crowns

British and French proof coinage and essais.

Any coins of particular rarity and beauty like the British Petition Crown.

Large Gold medals, Salvator Mundi medals, Bank Portugalosers, multiple ducats of the German Kings and Holy Roman Emperors.

Italian presentation multiples.

in Ancients the popular areas right now are:

Gold Alexander Staters

Gold Kroisos Staters

Gold Oktodrachms 

Large gold and silver pieces of Arsinoe.

Gold Julius Caesar Aurei

Very High grade gold and silver 12 Caesar coins.

Silver Decadrachms.  Especially of Kimon.

High Grade Signed Tetradrachms - especially of Eukliedes.

These are only some of the hottest areas.  Right now the emphasis is on technical grades.  The temptation - especially for novices - is to buy the holder rather than the coin.

The holder is an excellent starting point.  But when dealing especially with ancients the holder will tell you very little about the long term value of a coin which is also dependent on Beauty, Rarity, and Historical Importance.  And the the holder can shed little light on these attributes.  Nor is it supposed to.   It supports authenticity and state of preservation - both crucial starting points.  So Ancients is still an area for experts - or at least those who have put some time into study.

On machine made modern and early modern coins the holder is more instructive, as coins tend to be more uniform.  But and MS61 gold coronation medal maybe 61 because of an invisible rim knock and some light cleaning marks that can hardly be seen when you turn the medal in the light - or perhaps it is MS61 because of some nasty marks right on the King or Queen's face.  It makes a difference to many collectors.  Some 61's are quite attractive.  Some 58's are quite attractive.  Some are not.

And as always, the best opportunities are in coins and medals of great rarity, beauty and historical importance that have not yet found wide popularity.  Because over time what is popular shifts.  

What is historically important does not.