Rare Coins Index Soars, But “Know Your Dealer,” Advises Professional Numismatists Guild
(Temecula, California) — Rare coins soared 25 percent in value over the past year and 248 percent the past ten years, according to the Luxury Investments Index in the recently-released Knight Frank 2013 Wealth Report. However, numismatic experts caution that before making a purchase investors should beware of unscrupulous “boiler room” dealers who may promise more than they deliver.
“Rare coins are an enjoyable hobby and part of some people’s long-term portfolios, but buyers should remember the important adage: If you don’t know rare coins, you better know your rare coin dealer,” said Jeffrey Bernberg, President of the Professional Numismatists Guild (PNGdealers.org).
Founded in 1955, the PNG is a nonprofit organization composed of many of the country’s top rare coin and paper money dealers. PNG members must adhere to a strict Code of Ethics (PNGdealers.org/category.php?category_id=6) in the buying and selling of numismatic merchandise.
“The authoritative Knight Frank Wealth Report and the recent, record-breaking auction of the first rare coin to reach the $10 million dollar level have prompted more people to look into rare coins as long-term investments,” Bernberg explained.
“As with stocks, bonds, fine art or real estate, the numismatic market is a highly specialized field. We encourage buyers to read about coins, learn the basics and work with a professional, expert dealer before making a large investment. PNG members must demonstrate knowledge, responsibility and integrity in their business dealings, and must agree to binding arbitration to settle any unresolved disagreements over numismatic property.”
A complete list of PNG member-dealers can be found online at PNGdealers.com.
For a complimentary copy of the informative pamphlet, “Important Things to Know Before You Buy Rare Coins or Currency” or a printed directory of PNG member-dealers, send your name and address to: The Professional Numismatists Guild, 28441 Rancho California Rd., Suite 106, Temecula, CA 92590. Contact the PNG by phone at (951) 587-8300, by email at info@PNGdealers.org or visit online at PNGdealers.org.
The full Knight Frank 2013 Wealth Report is available free online at http://my.knightfrank.com/research-reports/the-wealth-report.aspx.