NGC Announces: Auction Records Show Rare Coins Offer Solid Investment Alternative

[Arizona Coin Collector]

FROM:
http://biz.yahoo.com/bw/081210/20081210006183.html?.v=1

NGC Announces: Auction Records Show Rare Coins Offer Solid Investment
Alternative

Wednesday December 10, 4:55 pm ET

SARASOTA, Fla.--(BUSINESS WIRE)--Amidst turmoil in global
financial markets, there appears to be an asset category
emerging that is not only holding its own, but thriving.
The results of a recent rare coin auction, held on
December 2-3 in Geneva, Switzerland, reinforce assertions
of industry sources that the rare coin market is
experiencing a near 20-year growth cycle virtually
unaffected by broader economic cycles. As prices for
similar high-end collectibles such as fine art have been
depressed by economic conditions, the trend for coins
appears to be contrary. In these uncertain economic times,
individuals searching for upwardly tracking investments
may want to consider putting their money "in" money.

Overall, the December 2 and 3 coin auction, conducted by
Numismatic Genevensis, set a new record for non U.S.
coins - $25.6 million, nearly 75% more than pre-auction
estimates. The standout coin was an ancient brass
Sestertius of the Roman emperor Hadrian that sold for
$1.9 million U.S. - nearly four times the pre-sale
estimate. The coin represents the highest price ever
paid for an ancient coin at public auction.

"The success of this sale was really about its great
coins. Great coins are always eagerly sought by
collectors around the world, and they can recognize
important opportunities to acquire rare pieces,"
comments Alain Baron of Numismatica Genevensis SA.

Growth in the rare coin industry has in large part been
fueled by independent, third party authentication and
grading companies. The largest authentication and
grading company in the world, Numismatic Guaranty
Corporation (NGC) was the only grading company involved
in the record-breaking auction. "Grading has become
instrumental in instilling consumer confidence," says
Scott Schechter of NGC. "It provides a consistent,
objective method of evaluating a coin's condition,
which is one of the key factors in determining a
coin's value."

Among the NGC-certified ancient coins offered, the
top 25 coins realized nearly $8.5 million. Coins of
the modern era also fared well. An Italy 1864 50 Lire
gold coin graded NGC Mint State-64 garnered $384,100,
setting a new record. Considered to be the most
important rarity of coins issued by the Kingdom of
Italy, this example is among the finest known.
Another rarity, a Russia 25 Rouble struck in 1876 in
St. Petersburg graded NGC Proof-63 realized $321,475
against a pre-sale estimate of $127,500.

Contact:
NGC
Scott Schechter
sc...@ngccoin.com
1-800-642-2646

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