Rare Coin Auctions Gathered $536 Million In 2014, Will 2015 Be Even Higher?
January 14, 2015
The size and rapid growth of rare coin auctions is powerfully shaping the coin collecting hobby each and every year.
Last year, 2014, nearly $536 million in rare coins were sold at public auction, easily surpassing the 2013 total of about $393 million.
With some of the collections being auctioned off in 2015, including Gardner, Newman, Partrick, and Pogue, it looks like 2015 will topple last years record $536 million.
Last years record $536 million only refers to U.S. coins. No paper money or world coins.
The rare coin auctions started off with a bang at the 60th Annual FUN Show in Orlando, Florida Jan 8th-11. With some coins realizing more than $2 million each, it really set the ball rolling for the new year.
For comparison, in 2014 more than a dozen rare coins sold for more than $1 million among all of the Numismatic auction firms.
Just at the Heritage FUN Show auctions in Orlando, seven coins sold for over $1 million. There were actually seven coins with online bids over $1 million before the first auction even started on Jan 7th!
According to PNG, the estimated size of the rare coin market in 2014 reached around $5 billion, meaning that auctions compose only around 10 percent of the total market. The rest is handled by transactions made from dealer to collector, or from wholesale dealers to other dealers.
It looks like 2015 is going to be a really exciting year for all numismatics. I am really looking forward to seeing what happens next.