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V11 2008 INDEX
E-SYLUM ARCHIVE
THIRD-PARTY COIN SLABBING IN EUROPE
The 1844-O eagle on display at the New Orleans Mint
building is ensconced in a slab. Third-party certification and slabbing
has been primarily a U.S. phenomenon, but inroads are being made in the
European markets. This NGC press release touts a Geneva auction of Roman
coins slabbed by the firm. -Editor
An unprecedented collaboration
between a European coin seller and a U.S. certification company is the
latest evidence that the international collectible coin market is booming.
Numismatica Genevensis SA (NGSA), one of the leading European rare coin
auction houses has contracted Numismatic Guaranty Corporation (NGC) to
certify approximately 300 of the 1,500 pieces, including many ancient
coins, being offered in its December 2-3 auction in Geneva, Switzerland.
"Without question this is one of the most impressive sales of ancient coins in recent memory," says David Vagi, Director of NGC Ancients. "The quality is outstanding, and there are some important rarities that will attract serious bidding."
Relatively new to the international collectible coin market, independent third-party certification has become a major factor in the U.S. in determining a coin's value by evaluating and documenting its condition. According to industry resources, the collectible coin market has experienced a near 20-year growth cycle virtually unaffected by broader economic cycles. As a result, coin collectibles have blossomed into a $10 billion dollar industry in the United States. Coin certification is credited for much of that growth.
As coin certification gains traction in Europe, a similar trend is expected and may already be impacting the market based on the recent sale of an NGC certified Russian coin that sold for $2.4 million, a record for a world coin. In May, the world coin Millenia collection, featuring all NGC certified coins, produced record prices realized and overall sales. Both auction and coin certification experts expect the NGSA auction to set several records and establish new benchmarks for graded European coins. Industry experts are anticipating the event to gauge the resiliency of the industry in light of recent global economic events.
The 300 NGC certified coins in the auction include ancient specimens from the Roman Empire, the Roman Imperatorial, the Roman Republic, Ancient Greece and the Celtic region. Other examples from the 1600s to early 20th century originate from Albania, Germany, Austria, Belgium, Bolivia, Brazil, Denmark, Spain, France, England, Greece, Holland, Italy, Poland, Russia and Switzerland.
To read the complete article, see: Prestigious European Coin Auction Looks to U.S. Experts for Success (http://www.marketwatch.com/news/story/
Prestigious-European-Coin-Auction-Looks/story.aspx?
guid=%7BA017F2A7-8387-4C8F-9579-09A025C0D361%7D)
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com
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