The business of coins can be nickels and dimes, no pun intended, but it can be big business as well.
Collectors Universe, the parent company of Professional Coin Grading Service, was sold recently. Now one of the world’s largest investment companies, the Blackstone Group, has acquired what has been termed “a majority stake” in Certified Collectibles Group (CCG). CCG includes Numismatic Guaranty Corporation of America (NGC).
Blackstone is a publicly traded company and can be identified by their stock ticker symbol "BX." As such, Blackstone will be added to the Numismatic Stock Index, which is currently at about 82 percent of its 52-week high. What is of the most interest to collectors is the comment in the sale announcement: [the sale is] “a testament to the extraordinary growth of the collectibles industry.”
Gold and silver had recently slumped, but were each at a two-week high at the time this commentary was being written. The dip in precious metal prices didn’t slow the sale of bullion or bullion-impacted coins.
Generally available but collectible coin sales did slow, but this is a typical seasonal adjustment seen each year during the early summer. Collectors usually refuel their enthusiasm at the annual August convention of the American Numismatic Association (ANA), with buying and selling increasing through the end of the year. The ANA event is of particular importance this year since it also signals a return to normalcy following the coronavirus lockdown. The Royal Canadian Numismatic Association, as an example, will hold its convention virtually. It is an understatement to describe the market for coins as healthy.