Rare Coins Index Up Again, But “Know Your Dealer,” Advises Professional Numismatists Guild
(Temecula, California) — Rare coins increased 10 percent in value over the past year and have increased 227 percent the past ten years, according to the Luxury Investments Index in the recently-released Knight Frank 2014 Wealth Report. The Professional Numismatists Guild (PNGdealers.org) estimates the vibrant U.S. market for high-quality, rare coins was about $5 billion in 2013 with a dozen individual coins selling for $1 million or more at auction last year.
However, numismatic experts caution that before making a rare coin 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 Terry Hanlon, President of the Professional Numismatists Guild (PNG).
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 in the buying and selling of numismatic merchandise.
“As with stocks, bonds, fine art or real estate, the numismatic market is a highly specialized field,” explained Hanlon.
“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 www.PNGdealers.org. The Knight Frank Luxury Investments Index is available online at thewealthreport.net/luxury-investments/default.aspx#sthash.tdK2ICye.5fP1LzMT.dpbs.
For a copy of “The Pleasure of Numismatics,” an informative, ten-page illustrated, educational booklet about collecting rare coins, paper money, tokens and medals, send $1 to: Professional Numismatists Guild, 28441 Rancho California Road, Suite 106, Temecula, California92590.
For additional information about the Professional Numismatists Guild, visit online at PNGdealers.org or call the PNG headquarters in Temecula, California at (951) 587-8300.