There’s been a post-election rise in the US rare coin market, says the Professional Numismatists Guild. The year started off slowly: sales at major public auctions in 2016 were the lowest in several years, according to PNG statistics:
- 2016: $342 million
- 2015: $439 million
- 2014: $536 million
- 2013: $393 million
While 17 coins sold at auction for $1 million or more in 2017–a record number–only four did so in 2016. Here are the four big-ticket coins of 2016:
- $1,997,500: 1894 San Francisco silver dime, graded PCGS Proof 66
- $1,888,000: 1879 Quintuple Stella (pattern $20 denomination gold coin), PCGS Proof 64 Deep Cameo
- $1,351,250: 1833 Caped Head Left, Large Date Half Eagle ($5 denomination gold coin), PCGS Proof 67
- $1,057,500: 1795 Draped Bust silver dollar, PCGS Specimen 66
However, the market perked up. “After several years of higher prices and the spectacular sales of several legendary coin collections, the U.S. rare coin market softened in 2016. But after the November elections, there was a notable increase in demand for high-quality rare coins, including those priced at $100,000 or more,” said PNG President Dana Samuelson.
“Over the decades the U.S. rare coin market moves in cycles, and the long-term trend is up. We believe 2017 will be an opportunity for astute collectors to be buying,” said Robert Brueggeman, PNG Executive Director.
Election years often spark a stronger market in strategic coin purchases. For the first two years of an administration, many cautious buyers are attracted to tangible investments while policies and markets stabilize after the impact of the election.
2017 should be an interesting year! Whether you are buying or selling, consider relying on Preferred Coin Exchange and the years of experience we bring to the table.