Editors Message: CPG Market Review Fall 2023

In my observations, the best description of the market is divergent. On one hand, rare to very rare pieces that are only available to collectors once in a generation are still fiercely sought after and bringing strong prices. Finest known pieces across most series are also still relatively strong pricewise. However, when it comes to the collector coins that make up the remaining 80 to 90% of the market, prices have slid from where they were one year ago. I feel the market is entering a period of increased volatility, where prices swing both up and down depending on spot prices, dealer demand from buying programs, and volume. For example, it may not be the best time to sell a large quantity or collection of Morgan dollars, as there is ample supply on the market that exceeds demand. The same holds true for popular series such as Lincoln cents and Washington quarters. Some dealers and collectors thrive during these periods, putting in the work to find deals and make opportune purchases.

One area that continues to grow despite an overall slowdown is world coinage. Over the past couple of years, I have had the good fortune to attend some international coin shows to meet and speak with international dealers and collectors and learn their markets. Most all international dealers recognize the size and unique properties that define the U.S. coin market. No other nation’s domestic market can come close in size and market cap. However, the gap is not as large as it used to be. Some metrics I like to look at to measure market growth are things such as average lot price in public auctions, total auction sales totals, and certified populations. Historically, one major issue that has compromised the collecting of world coins by domestic buyers is a lack of accurate pricing data. The standard world coin catalogs available in the past were infrequently updated, and perpetuated errors and “native” catalogs or reference books can be difficult to acquire and may not be published in English.

There are loads of auction data on world coins that is available to collectors, but this has never been aggregated and presented in a dynamic way due to the complexities of creating a database and making sure all of the data points end up in the correct place. Recognizing this need, we have quietly been building the infrastructure necessary to finally do this massive project the right way. Using strategic partnerships, we have begun to build a comprehensive world coin catalog, which is viewable live on our website. Every single entry—of which there are tens of thousands—contains detailed information about the coin, such as metallic composition, weight, diameter, and much more. There are also images of the coin type. Next, we will methodically begin to add pricing data to many entries, working with experts from around the world, while at the same time integrating auction sales records. This adds tremendous value to the Greysheet subscriber, who will now have access to the best United States pricing and catalog data AND an ever-growing world coin database.