Coin Collector

Coin Collector | 5 | www.allaboutcoins.co.uk “ “ UPDATE THE LATEST COIN NEWS FROM AROUND THE WORLD COIN TRADE SHOWS RESILIENCE AMIDST COVID19 OUTBREAK Coin organisations around the world have revealed how they are dealing with the Covid19 pandemic, with many suggesting the coin trade is in rude health in spite of the global crisis. The Numismatic Guaranty Corporation (NGC) issued a statement heralding the coin market’s resilience and explaining that ‘coins and banknotes represent one of the rare pockets of stability’. Posted at the start of April, the statement confirms that all NGC and PMG locations remain open to serve collectors and dealers ‘by providing liquidity and confidence to the global collectibles markets at a time when those qualities are more important than ever.’ The statement continues: ‘As the world faces an unprecedented economic and public health crisis brought on by the coronavirus COVID-19, the numismatic markets have demonstrated incredible resiliency. Indeed, coins and banknotes represent one of the rare pockets of stability, safety and even strength during this period of fear and uncertainty. Steven Eichenbaum, CEO of NGC and PMG added: ‘Significant volatility of the stock market is often a harbinger of increased investment in collectibles, and that has proven to be the case yet again since the coronavirus became a pandemic.’ ‘This pandemic affects us all, and our thoughts are with our friends and clients throughout the global numismatic community. Every day the news is overwhelmingly negative, but the activity we are seeing in numismatics is one of the few bright spots. We are heartened that, even in these tumultuous times, the passion for numismatics remains strong.’ Online auction site Delcampe have created a special webpage for Covid-19 updates. The advice form the website states: ‘During all this period, Delcampe stays by your side. Our staff works from home to prevent the spread of the virus and maintains all our services. You will not see any difference on the website… The purpose of this page is to keep you informed about the measures taken by Delcampe and to provide you with information about parcel shipments. It will be updated daily.’ Spink Live connected over five hundred bidders across the globe in their recent British Coins and Commemorative Medals: Spring Auction. The sale was conducted behind closed doors and let coin collectors, at least for a while, ‘forget about the difficulties we are facing these days’. In response to Covid19 and the temporary on/off restriction of movement that this is likely to entail for many of their customers across the world, Dix Noonan Webb, the international coins, medals, banknotes and jewellery specialists, announced that they are planning to utilise all of their online capabilities to host an increased number of auctions over the next few months. Meanwhile the company have raised thousands for charity (see story below). Back in the USA, the Central States Numismatic Society Convention was cancelled, however, Heritage Auctions continued with the series of sales that was originally planned to form part of the event. The auction house offered nearly 3,000 lots of US coins, whilst their comprehensive website continues to host a range of coin sales. In Germany, auction house Künker reported a high level of participation in their first sale held after the lockdown. ‘The coin market is stable despite Corona’ a statement read. ‘The five-day auction was held under special conditions, but already on the first auction evening it became apparent that the demand for interesting coins was rising rather than falling despite the current situation. Thanks to foresighted planning and flexibility, Künker was able to make its Spring Auction Sales a complete success despite the worldwide corona crisis: With a total estimate of around €6.7 million, the total hammer price reached more than €10 million (not including buyer’s premium)… Especially in times when people suddenly spend more hours in their homes, collecting is very trendy.’ Keep up to date with how the coin trade adapts to the current situation with the news stories at: www.allaboutcoins.co.uk Auctioneers Dix Noonan Webb are donating 5% of their Buyer’s Premium to NHS Charities Together throughout the duration of the Covid-19 crisis. Pierce Noonan, CEO of Dix Noonan Webb confirmed: ‘With everything that is happening in the world at present, we felt it right to be giving something back to those working on the front line. We have decided to donate a percentage of our Buyer’s Premium from every lot we sell during these challenging times to help those working hardest on our behalf, and in the most difficult conditions.’ ‘We are very aware that it is a hard time for many auctioneers at the moment, but we would encourage other auction houses who are fortunate enough to be able to function in these challenging times to also consider whether there is anything that they might be able to do. Perhaps there might even be an opportunity for a coordinated and united approach from our industry.’ NHS Charities Together works with over 250 charities across the UK helping the NHS do more to look after people. For more information about NHS Charities Together and the outstanding work they do, click here to visit their website. Find out more about the donations at: www.dnw.com Why not donate to NHS Charities? www.nhscharitiestogether.co.uk COIN AUCTIONS RAISE MONEY FOR NHS WE ARE HEARTENED THAT, EVEN IN THESE TUMULTUOUS TIMES, THE PASSION FOR NUMISMATICS REMAINS STRONG.