PNG Report Suggests that U.S. Rare Coins Fared Well in 2017

30 Dec 2017  Sat

PNG released a statement that U.S. rare coins worth $50,000 or more and those worth $500 fared well during 2017. Four U.S. coins sold for $1 million. Two of them were sold at public auctions while the other two by private transactions. An overall estimated business of between $3.4 and $3.8 billion was made on rare US coins. The figure does not include sale of US Mint products or bullion coins.

A total of $306,199,305 was made through major public auctions in 2017. Almost 80 percent of the overall total belonged to Heritage Auctions and Stack’s Bowers Galleries which made $169,100,000 and at $74,099,305 respectively.

An 1804-dated U.S. Class I silver dollar was sold for $3,290,000 Stack’s Bowers and a 1794 silver dollar was sold for $2,820,000.

Officials stated that some old-time collections came into the marketplace. Even though it was also a year which witnessed booming stock market and the speculative cyber currency market, demand for extremely rare investor-collector coins increased in 2017.

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