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.
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