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It’s a funny thing–those of us who collect rare coins and currency, whether for a living or as a hobby, know there’s money to be made, but there aren’t really any accessible metrics anywhere that will tell you how big the US rare coin market really is. The government doesn’t collect any numbers or issue any statistics, there’s nothing in the papers, so we’re pretty much left to hazard a guess.
Jeff Garrett has done just that in a recent article on CoinWeek. Here are some of his estimates:
- There are over 5,000 coin companies in the country. This includes all active companies, big and small.
- At least 10 of those companies make annual sales of over $100 million per year. This includes Heritage Auctions (which sells over $500 million in rare coins), the Professional Numismatic Guild (which has over 300 members, each making huge profits), and a few mass marketing companies.
- All told, it’s safe to say that the US rare coin and currency market brings in well over $3 billion dollars annually.
As Garrett points out, it’s good to know the size of any market you’re planning on investing in because you want to know how much new money might be coming in. The great news is more and more buyers seem to be joining the US market in recent years, at home and abroad. As the US economy continues to recover from the crash, the stock market, home prices, and consumer confidence are all on the up and up. And those with money seem more than ever to be interested in rare coins and currency. Here’s hoping the numismatics industry continues to grow throughout 2014!
via Andrew Brunhart’s Coin Collecting http://andrewbrunhart.org/2013/12/28/how-big-andrew-brunhart/