What is the 2nd Largest Market for Numismatics?

[Mr. Smith Guesser]

Someone asked me this last night and I have no clue. I'm assuming that the United States is the #1 market for coins. What's #2? England? Germany? China?

[World Colonial]

I presume you are referring to the value of the coins sold in a single year? Does this also include NCLT or no?

 

BY any measure, the US is larger than all others combined, probably by a small multiple at least. No other country is even close.

 

Outside the US, which one meets your criteria will or also may depend upon if you are referring to just coins bought locally or by collectors worldwide. There is limited buying of US coins of any value outside the US because of the exorbitant price level but this is not true for all others. The proportion of coins bought by non-locals can range from a large minority to a large majority, as in practically all of it.

 

Never seen any hard data but my guess would be as follows:

 

1) United States

2) Germany

3) Great Britain

4) China

5) Canada

6) Russia

7) Australia

8) Japan

 

This order is a guess and I base it upon the price level and what I see for sale. For example, though Japan has a much larger economy, larger population and I presume more collectors than Australia, its price level is much lower and I don't believe collecting of coins above a relatively low value is more popular. There is a lot more "investment" buying of Australian coins to my knowledge, especially when including NCLT. Same applies to China.

 

[TonerGuy]

I would guess China and/or Russia. Lots of very wealthy people with lots of disposable income. (and many many more very poor people with little income - sort of like America was in during the Industrial Revolution)

[Mr. Smith Guesser]

yeah, value of coins sold... and excluding any NCLT that people would buy strictly as an investment hedge...like old junk silver.

 

the U.S. being the largest market by far, do you think this is a cultural thing, or an economic thing? do americans buy the most coins because they are the most interested, or simply because we have the money to spend on such things?

[World Colonial]

yeah, value of coins sold... and excluding any NCLT that people would buy strictly as an investment hedge...like old junk silver.

 

the U.S. being the largest market by far, do you think this is a cultural thing, or an economic thing? do americans buy the most coins because they are the most interested, or simply because we have the money to spend on such things?

 

You can also read my comments in the "Krause" thread under World Coins where I covered this topic. But logically, it is cultural and not anything else because nothing else explains why US coins cost so much more and the supply of "better coins" between the US and most of the countries I listed is nowhere near as great as the price differences. There is a large multiple of wealthy people in every single country who can afford to pay a lot more for their coins given the very limited supply that collectors actually want to buy. That they do not shows that they choose otherwise.

 

If you are excluding NCLT, then I would place China lower on my list. I don't believe that the supply of Chinese classics is anywhere near the other countries on my list. The census counts for Chinese classics is much higher than most others but the supply of "collector" coins is probably not more than enough for 100,000 collectors and maybe fewer. In a country such as this one, the supply of coins that most collectors have a demonstrated preference of actually wanting to buy is either limited or very limited given the potential number of collectors. Mexico is another example.

[robec1347]

NCLT?

 

I missed that day.

[World Colonial]

NCLT?

 

I missed that day.

 

Non-circulating legal tender. In other words, bullion coins like the ASE and commemorative coinage.

[physics-fan3.14]

NCLT?

 

I missed that day.

 

Non-circulating legal tender. In other words, bullion coins like the ASE and commemorative coinage.

 

Things like the entire output of Gibraltar, Isle of Man, Somalia, 98% of the Royal Canadian Mint, China, etc.

[World Colonial]

By value of what collectors are buying of current mint output, you are correct.

 

The distinction I was trying to draw between China and the other countries I listed in my earlier post is that the market for Chinese classics versus NCLT seems to be smaller. I believe collecting of classics in the other countries is more significant today when measured by value because Chinese coins are less available and the coins don't seem to cost as much across the board.

[Conder101]

NCLT?

 

I missed that day.

In general NCLT = NIFC

 

Collectors of non-US coins tend to use NCLT, US coin collectors use NIFC Not Intended For Circulation.

 

I tend to prefer NCLT as it is more descriptive. Tokens, rounds, medals etc are all not intended for circulation,and in some cases tokens and things like the Liberty dollars or Lescher dollars WERE intended to circulate, but none of them were legal tender.

[physics-fan3.14]

I've never heard of NIFC. I always call it NCLT.