Updated: Feb 15
Record breaking prices have been achieved for rare coins as this asset class continues to demonstrate its viability as an alternative investment.
This year's Florida United Numismatists and New York International Numismatic conventions were cancelled due to the ongoing Covid-19 pandemic. However the auctions that usually accompany such events threw up incredible results. A strong range of items were available both in terms of quality and value.
Heritage Auctions - the official auctioneer of both events - shifted these highly anticipated sales fully online demonstrating the seismic shift towards technology and its ever increasing importance to the numismatic space.
Amongst the standout coins auctioned was this incredibly rare "Brasher Doubloon" which achieved a staggering $9.36 million (approx R140m) in so doing becoming the world's most expensive gold coin. (Images courtesy of Heritage Auctions)
Another incredible piece auctioned was this unique error $20 bill, the so called "Del Monte" error which fetched $396,000 (approx R6m) becoming the world's most expensive error banknote. This quirky banknote features a Del Monte banana sticker in the right hand half which became attached during printing and is considered to be the "holy grail" of US error paper currency. (Images courtesy of Heritage Auctions)
On the South African front, our coinage continues to perform well and a number of notable rarities from the South African series were on display:
A very rare 1895 ZAR Pond graded as MS61 by the NGC fetched $9,600 (approx R145,000).
A 1923 full long proof set graded by the NGC achieved $9,000 (approx R136,000), which is a particularly strong price.
A second finest 1895 ZAR Florin certified as MS63 by NGC realized a strong $5,040 (approx R75,000).
All in all the auctions over the 3 days achieved $90.68 million (approx R1.3 billion) over the world, ancient and US coins categories. Indeed the numismatic market and broader collectables market remains resilient and encouraging signs are starting to show even locally.