Auction Network – Coin Collecting in 2022

Whether you are a new or experienced coin collector it always pays to keep up to date on trends in the numismatic world. At Auction Network we are Canada’s leading online coin auction house. We provide collectors almost daily opportunities to purchase and collect coins to add to their collection.

The past two years have been incredibly active in the numismatic market. COVID produced an increased interest in coin collecting as people searched for tangible assets to add to their investment portfolios. COVID also provided experienced and novice collectors extra time at home to organize and expand their collection. The American Philatelic Society (APS) had one of their busiest years in 2020; they saw visitors to their website and sales nearly double compared to 2019. COVID and the subsequent economic downturn caused some collectors to sell parts of their collection for cash, while a younger, newer generation, of numismatics started their collection during this period.

As any collector (in almost any collectible) will tell you, to create a meaningful collection can take years of dedication and research. As coin collectors age entire collections of incredible coins are finding their way to market. During COVID the prices of rare coins were selling on average 16% above average and the key rare coin price index which was created in 1970 shows a 6,315% increase. So for collectors that are patient and invest time and resources into their collection the returns can be phenomenal.

If you are just starting your coin collection 2022 is a great year to start. The APS has seen an incredible increase in membership applications since 2020 and their data shows that applicants are overwhelmingly younger, more diverse and female. Collecting data indicates that newer collectors collect differently than older, more experienced collectors. The newest generation of collectors is tending to be more interested in modern coins.

Modern coins are usually defined as being created since 1950; starting in the 1950’s coins began to be produced in larger numbers and the technology meant that millions of coins could be produced a day. Many of the modern coins which were released in the 50’s are still being produced today – even a novice would be familiar with Jefferson nickels, Washington quarters and Roosevelt dimes.  Modern coins are at a more affordable price point than ancient or other historic coins. Collectors of modern coins are also able to enjoy the incredible new technology being used to create coinage. The Royal Canadian Mint for example is now releasing new coins that incorporate colour, glow in the dark elements and even pink diamonds.

For more experienced collectors their investment in their collections will definitely pay off. For people interested in older coins these can create decades of enjoyment while also creating a tangible asset that can be left to their heirs. Older collectors tend to invest in rare coins whose supply is very low. Many rare coins are snapped up the minute they come to auction, while most are sold privately and it takes a true numismatic networking and doing research to source and purchase these coins. Experienced collectors are also more invested in purchasing complete collections; it can take years for someone to complete a set of coins.

Collecting coins can start you on an exhilarating journey. People can pursue coins from a specific time period, or a specific denomination, or metal content just to name a few collecting categories. Some people pursue whole sets while others focus on individual coins. And there are no rules as to how you pursue or organize your collection. For people that focus on one country you are actively helping to preserve that country’s history.  Many historic coins are an integral part of a nations history – stories can be told and together coins can tell the shifting changes of a nation.

What to Keep Your Eye on This Year

1980’s Gold Type Sets

Back in the 1980’s gold type sets were extremely popular, perhaps none more so than the 12-piece US gold type set often housed in Capital plastic holders. This set contains three gold dollars, two quarter eagles, one three dollar, two half eagles, two eagles and two double eagles. The coins in this set were struck from the 1850’s-1889.

Social Media and Virtual Coin Shows

The advent of a younger generation becoming involved in coin collecting during COVID has shown a rapid increase in the use of social media to source and purchase coins. Prior generations could spend years networking and learning about what coins are available on the market; social media has allowed a younger (and older) generation to find information about the coin market in a fraction of the time.

Traditional Coin Shows, like all other public events, were shut down due to COVID. Like auction houses the coin market had to turn to virtual online shows. While in person shows will return online coin shows will most likely continue as they were a surprising success during COVID.

Whether you are a new or experienced collector at Auction Network we can help you source the coins to begin or expand your collection. Keep an eye on our website auctionnetwork.ca  and bid.aucitonnetwork.ca daily as we are constantly updating our auction calendar and add exciting new coins and items every day.