U.S. & World Coin Prices Breaking Records At Auctions
Heritage Auctions is the third largest auction house in the world, and their rare coin auctions in Long Beach just brought in a record.
The company is interpreting this as symptomatic of a market in which premiums are firming.
Heritage’s Long beach Auction brought in $17.5 million total. Alongside the more than $10.6 million sold at Heritage’s World and Ancient Coins Signature® Auction and the $7.6+ million realized in its U.S. Currency Signature® Auction,this adds up to a $36+ million dollar week for the company: the highest total the combined Long Beach Auctions have brought in…ever.
“Results from all three auctions absolutely exceeded our expectations, which were already significant,” said Greg Rohan, President of Heritage Auctions. “Collectors recognized the depth of quality across the board in the more than 7,000 lots in the U.S. Coins auction and they went after them accordingly. This auction was not about a single coin bringing a massive price; it was about thousands of coins bringing top prices for their type, top to bottom, throughout the catalog.”
The President of Heritage confirms that the rare coin market is firm, and that many coins are earning top price paid.
This is much firmer than the rare coin market’s bullion counterpart.
As the largest auction house founded in the US and the world’s third largest, Heritage Auction has signaled through the rare coin market that premiums have firmed. Their announcement could mean this will only continue.