Rare Coins Look Good

Coins Rise in Value

Rare coin index has risen more than 225% over 10 years.

The subindex for rare coins rose 9% for the year ending June 2013. Only the cars subindex rose more over that time. Two sales last year were high points for numismatists everywhere. The first, the Flowing Hair silver dollar, may have been the first metal U.S. dollar coin ever minted. The coin sold at an auction in January 2013 for a record $10 million. In November, a 102-year-old St. Louis man sold a rare U.S. coin collection for a staggering $23 million at an auction run by Heritage Auctions in New York City. Interest in coin collecting may have been stimulated last year by falling gold prices, as investors began seeking additional sources for returns. Interest is also increasing as the economy begins to recover from the recession that began in 2008, Michael Fuljenz, president, Universal Coin & Bullion, told Kitco, a metals news site. Optimism may be warranted: The index has returned more than 225% over 10 years.

Read more: Nine Most Valuable Collectibles – 24/7 Wall St.

Follow @247wallst on Twitter | 247wallst on Facebook

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s