Strong 2020 rare coin & banknote market despite pandemic, reports Professional Numismatists Guild
The First Art Newspaper on the Net    Established in 1996 Thursday, December 5, 2024


Strong 2020 rare coin & banknote market despite pandemic, reports Professional Numismatists Guild
The most valuable individual U.S. paper money sold at auction in 2020 was this Civil War-era 1863 $100 Legal Tender Note for $432,000. Photo courtesy of Stack’s Bowers Galleries.



TEMECULA, CA.- It was the year of pandemic-related cancelled coin shows, but 2020 still resulted in one of the strongest U.S. rare coin and paper money markets in recent years, according to a year-end survey of major auction houses conducted by the Professional Numismatists Guild, a nonprofit organization composed of many of the country’s top rare coin and paper money dealers.

Based on responses to a PNG questionnaire, the aggregate prices realized for U.S. rare coins sold at major public auctions in 2020 totaled nearly $369 million. The aggregate total was $325 million in 2019; $345 million in 2018; and $316 million in 2017.

Major auction sales of U.S. banknotes in 2020 totaled $50.6 million bringing the combined aggregate auction sales of rare U.S. coins and paper money the past year to over $419 million. This was the first year PNG included banknotes in its annual survey.

“With most of the scheduled coin shows and conventions canceled after early March, much of the auction sales activity successfully moved online which already was a growing trend the past decade. Several major collections of high-quality coins and banknotes started coming to market in 2020 as previously planned, and as the pandemic intensified the market also provided liquidity for some collectors who needed cash,” said PNG President Richard Weaver. “This is the strongest rare coin market we’ve seen in years.”

Eight individual rare coins were purchased at auctions for $1 million or more in 2020. The top two were an 1804-dated Draped Bust Class I silver dollar graded by Professional Coin Grading Service (PCGS) Proof-65 sold by Stack’s Bowers Galleries for $3,360,000 and a 1927-D Saint-Gaudens Double Eagle ($20 denomination gold coin) graded PCGS Mint State-65+ sold by Heritage Auctions for $2,160,000.




“While prices held steady or slightly declined during 2020 for some U.S. coins in easily available lower grades, more than 600 noteworthy coins that are among the finest known of their kind from early American to modern set price records at auctions. The emphasis was on historical significance and finest quality,” said PNG Executive Director Robert Brueggeman.

Among the many notable examples of record-setters and price increases in the market was a 1907 High Relief, Wire Rim Saint-Gaudens Double Eagle graded Numismatic Guaranty Corporation (NGC) Proof-69 sold by Heritage for $660,000. That same coin brought $573,300 in a 2013 auction.

Other noteworthy records included a Draped Bust 1796 quarter-dollar graded PCGS MS-64 sold by GreatCollections for $303,750, about 20% higher than its price guide value. A similarly graded one sold for $141,000 in 2015. An 1896 Morgan silver dollar graded PCGS MS-68 sold by Legend Rare Coin Auctions in 2020 for a record $30,550; $5,550 higher than its price guide value at the time.

The two most valuable individual U.S. banknotes sold at auction in 2020 were an 1863 $100 Legal Tender Note graded by Paper Money Guaranty (PMG) Gem Uncirculated 65 EPQ (Exceptional Paper Quality) sold by Stack’s Bowers for $432,000 and a 1934 $10,000 Federal Reserve $10,000 Note graded PMG Gem Uncirculated 66 EPQ sold by Heritage for $384,000.

Heritage sold a total of $183 million of U.S. rare coins and $33.5 million of U.S. banknotes at auctions in 2020, and Stack’s Bowers had $88.1 million in auctions of U.S. coins and $14.9 million in U.S. banknotes.

“The markets for collectibles have not merely survived the COVID-19 crisis, they have thrived. There is no doubt: collectibles are an asset class. A broad range of collectibles, including rare coins, banknotes, comic books and trading cards, have become highly liquid and fungible,” said Mark Salzberg, Chairman of Certified Collectibles Group, parent company of NGC (www.NGCcoin.com), the PNG’s official authentication and grading service.










Today's News

January 7, 2021

Art world sets plans for 2021 fairs (in pencil)

Exhibition of photographs by Gordon Parks opens at both of Jack Shainman Gallery's locations

Staff member jailed for Buckingham Palace thefts

Top French court orders re-trial for Wildenstein art dynasty

The Morris Museum of Art announces the death of artist Philip Morsberger

Cannes says film festival may be put off till summer

Neil Young sells 50 percent stake in his music

Pioneering photographer Ruth Orkin celebrated in Bonhams New York Photographs sale

Finest Brasher Doubloon, 1804 Plain 4 Eagle poised to make history at Heritage Auctions

Exhibition at The Met showcases the important role of European textiles in traveling exhibitions

Strong 2020 rare coin & banknote market despite pandemic, reports Professional Numismatists Guild

Online exhibition explores Scottish environments close to home during lockdown

Sworders' Design sale to be held 'live online' on January 26 includes a collection of work by Art Deco giant Jules Leleu

Greek film festival founder Dimitri Eipides dies aged 82

Exhibition at ClampArt includes a selection of Brian Buckley's new wet photograms

Eric Jerome Dickey, best-selling novelist, dies at 59

Grey Flannel presents elite game-used sports memorabilia in stellar winter auction closing January 20

Suzi Analogue wants Black women in experimental music to never compromise

Kohn Gallery announces representation of Nir Hod

Monica King closes Tribeca space and launches new venture for 2021

ART X Lagos consolidates its position as West Africa's premier international art fair with digital fair

Taymour Grahne Projects opens an online solo exhibition by artist Polina Barskaya

2021 highlights at Greenwich's Old Royal Naval College

Frozen towers and palaces stun visitors at Harbin ice festival

Which country has 7g network?

Five Tips To Stay Focused As An Artist

Gaining TikTok popularity with these tricks

Using Karma Yoga in 2021, the Year of the Hierophant

A few advantages of cognitive behavioral therapy for drug addiction recovery




Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez
Writer: Ofelia Zurbia Betancourt

Royalville Communications, Inc
produces:

ignaciovillarreal.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful