European Coin Market Explodes By
Tom Michael, Market Update
July 22, 2008
After
nearly 20 years of a very constant and steady coin market,
we are finally experiencing a vast explosion in values for
many classic issues. The driving forces of rising bullion
prices and falling U.S. Dollar value have conspired to give
us a burgeoning coin market for the best material available.
As always, the higher the grade the more significant the increase.
Take a look at some current coin auctions
and compare them to prices realized for the same types just
a few years ago. You'll find the results very interesting,
at least I have. Over the first seven months of 2008 I have
been busy doing just that as we work our way through the updating
process for the new Standard Catalog of World Coins 1601-1700
4th edition.
For the last month or two I have been researching
values for German States coinage of the 1601-1700 period.
It's quite fascinating actually. With few exceptions the values
provided in our third edition, published in 2003 have remained
viable right up until about 2007. But for the last year and
a half most everything, except the most common types have
been on the rise. Minor coins have seen respectable increases,
Talers have been driven up considerably and Ducats and other
gold types have jumped substantially.
In many cases I find myself doubling prices
on some of the Ducats and Talers. In some instances I am having
to quote auction prices. An excellent example arose while
I was researching Breslau. The recent June 2008 Fritz Rudolf
Kunker Munzenhandlung Auction 140 offered a pair of 1620 gold
coins of Breslau, graced with Freidrich V of Pflaz. Both the
Ducat and 2 Ducat pieces were offered and each realized just
over $17,000, well above the former SCWC values, making an
auction quote a very viable option for the Winter King.
It's a golden age for German States, as well
as many other European countries. There is strong competition
for scarce coins in high grade and buyers are seeing nothing
but upside potential. New money has met old money and they
are getting along famously.