European Coin Market Explodes
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 2008Fritz 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.