Rising prices prove numismatics have become "a substantial industry"
Coin World editor Steve Roach recently commented on a Wall Street Journal article ("The
coins that make big money," Sept. 15) that valued the
rare coin market at $5 billion a year. "Although no sources are cited that were used to justify that number, the point was made clear -- that the
rare coin is not just a cute little hobby; rather, it is a substantial industry," Roach said.
"The article cited a figure provided by Numismatic Guaranty Corp. that in 2011, the top 100
rare coins sold at public auction brought an average of $204,355, or 27% more than 2010. There seems to be smooth sailing at the top of the rare coin market."
However, Roach argued that investors shouldn't forget the less glamorous
coins. "They are the gateway
coins that pique interest in
rare coins and plant the seeds that lead to many bigger purchases. Buying opportunities for these types of
coins are much more frequent than for rarities."
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