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March 08 , 2015

Rare Coin Market News

2015 Rare Coin Market: A Time To Buy ?

There have been times in the past 50 years of the coin business to which the writer has spent 30 of those years as a professional in the rare coin business that have represented never previously known opportunities for the masses of coin collectors and in the last couple of decades, coin investors to take advantage of lower prices. Please see enclosed yahoo news article, “Flipping a Rare Coin” for some backround.

1976-1980 was a time of great change in the rare coin business with the introduction of what was then known as the greatest collection of coins ever offered, by way the Garrett Collection of Baltimore MD. This was an incredible collection of coins, some of which we may get a chance to buy again for the first time in decades as a result of, well, keep reading.

On April 15-19th , 2005, a historic opportunity in the world of numismatics took place at the Helmsley Park Lane Hotel in New York City. It was here that the foreign coin section of the worlds greatest collection was presented and auctioned by American Numismatic Rarities. This collection, formed over decades by the world’s greatest coin collector, Louis Eliasberg Sr. was widely received and the actual auction room, in the Park Lane Ballroom a sort of Numismatic United Nations gathered for this incredible offering.

Many of the coins in this historic offering were one of kind rarities which were off the market for decades. Many were sold to overseas investors and collectors, some of whom were on location in NYC to bid and bring back to their homeland these fantastic rare coins. Yours truly was very involved in this event and personally saw some of my own coins virtually double in value right out of the sale. A couple of years later many people would exclaim that we were in one of the greatest bull markets ever.

We will get a chance to see a similar sale in 2015, this time the world famous Pogue Collection, a collection of some of the most exquisite early coins ever formed and one which will take several years to liquidate with the proceeds estimated to be in the 100’s of millions of dollars. The sheer size of this event has many dealers holding on to their wallets and being very frugal while saving up for this event which is having an impact on the overall business which came out of a bull market a year ago. There is no question that the collector overall is hungry for opportunities and certainly the size and scope of the collectors wallets and knowledge of today by far outweighs the wallet and knowledge base of the collector/dealer of yesteryear and will be seen in full force in the months following Pogue, for sure.

What does this mean for you? What does this mean for prices? If history is any teacher we can expect hundreds of millions of dollars to start flowing once this sale begins later this year. Those hundreds of millions and the excitement that these types of sales bring to the market will no doubt have an impact and we at US Rare Coin Investments believes that the next rung of the ladder, the one which follows the sales of the Pogue collection will be significantly higher than where we are today, just like post Elisberg, Garrett and this one just may dwarf both of those collections.

The answer to the question, is 2015 a year to buy coins, is yes, and this may indeed be one that we all look back on and smile as we have history as a teacher to guide us.

 

Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com

 


Flipping a coin: rare U.S. coin market hits records
By Patricia Reaney

NEW YORK (Reuters) - A rare five-dollar gold piece and a prized silver dollar each could fetch $10 million or more in upcoming auctions, making the American rare coin market as attractive, though not nearly as glamorous, as fine art.

Sales of rare U.S. coins reached a record of nearly $536 million last year, and now collectors are turning to the D. Brent Pogue Collection, which could boost it higher.

Gathered over more than 30 years by Texas property developer A. Mack Pogue and his son, D. Brent, it is considered the most valuable collection of federal American coins dating from the 1790s to the late 1830s in private hands.

An 1822 Half Eagle five-dollar gold piece, one of only three known to exist, and an 1804 Silver Dollar dubbed the "King of American Coins" are expected to be among the top lots when the collection is sold in a series of auctions in New York beginning in May and continuing into 2017.

"These two coins in particular, we think, have a possibility of being up around that $10 million mark," Brian Kendrella, the president of Stack's Bowers Galleries, told Reuters.

The rare coin and currency auctioneer, which is handling the sales with Sotheby's, believes the coins could shatter the $10 million record set in 2013 for a 1794 Silver Dollar.

Although jaw-dropping prices for contemporary art grabbed headlines in 2014, rare coins also had a banner year and are among the biggest collectibles behind art and antiques.

HISTORY IN YOUR HAND

Coin sales are driven by the economy, but Kendrella said investors and collectors are also lured by the rarity, uniqueness, condition and historical links of coins.

"They are artifacts that speak to what was going on in the United States at the time these coins were made," he said. "That's one of the main draws."

With a dozen coins selling for $1 million or more in 2014 and the first gold coin struck for the United States fetching $4.5 million, the nonprofit Professional Numismatists Guild estimates the overall U.S. rare coin market to be worth about $5 billion.

Walter Husak, a retired aerospace entrepreneur based in California, knows just how lucrative it can be. A collection of 301 rare penny coins dating from 1793 to 1814 that he gathered over more than 13 years sold in 2008 for $10.7 million, about double what he invested in it.

"I never thought it would go up that much," he said. "There are a lot of people getting involved in coins."

Barry Stuppler, secretary of the Professional Numismatists Guild, has seen plenty of changes in his 52 years in the coin business, with buyers increasing in recent years.

"It is a combination of the economy coming back," he said of the market, "and the fact that interest rates are very low."

The Internet also has been "a tremendous, tremendous source of new buyers and sellers of coins that we didn't have 20 years ago," said Stuppler.

Demand for rare, investment-quality coins, graded and certified by the guild and the Florida-based Numismatic Guaranty Corporation, is high and supply is low.

"The rarities do the best, particularly gold and silver coins," said Stuppler. "The Pogue Collection is extraordinary."

(Editing by Jill Serjeant and Jonathan Oatis)


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