- Coin collecting is pursued as a hobby or for business purposes. Collectors usually prefer collecting coins which were used for a brief time in the past. The study of coins and other forms of currency is known as numismatics.
- Coin collection not only offers a glimpse of the past but also helps many to make money. Increase in disposable income and interest in collecting historic items has resulted in the rising sales of coins around the globe.
Key Drivers and Opportunities of the Global Coin Collecting Market
- Coin collection is considered to be a popular activity since historic times. Ancient coins are presented as a gift even today. In recent times, coin collection is no longer just a hobby but also an investment. Return on investment depends on the demand and rarity of the coin. Rare coins are not just limited to museums but are available at various shops. Coins shed light on a country’s past and its market size is increasing with each passing year.
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- Coin collection for business purposes involves coins of rare metals. Coin hoarders collect such coins in abundance and hold them until the demand is high. To narrow the focus, the collector usually focuses on a particular period or nation and gathers the coins. Some collectors look for error coins and artistic coins, while some collect them all in general.
- Counterfeiting of coins is a threat that the coin market faces. Many individuals who actively collect coins as a hobby and are not much aware of numismatics may end up purchasing the coin for a higher price. Registry sets which are responsible for checking the authenticity of the coins and to provide grading services state that coin collection has become a competitive activity with increase in number of traders.
- Increase in disposable income, coin events, coin shows, and numismatics educational institutes have further attracted more consumers. Improvement in the laws for coin trading are expected to create new opportunities.
- Considering all these factors, the global coin collecting market is expected to witness substantial growth during the forecast period.
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Europe to Lead the Global Coin Collecting Market
- Geographically, the global coin collecting market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- The market in Europe is anticipated to grow at a rapid pace during the forecast period. Increase in demand for periodic coins is a major factor expected to drive the coin collecting market in the region. Asia Pacific is also expected to witness substantial growth in the market during the forecast period.
- The global coin collecting market is competitive due to the presence of a large number of global and regional collectors. Registry sets are focusing on increasing awareness about counterfeit and authentic products.
Key Companies Operating in the Global Coin Collecting Market
Leading players operating in the global coin collecting market are listed below:
- The United States Mint
- Professional Coin Grading Services (PCGS)
- NGC (Numismatic Guarantee Corporation)
- Great Collections
- American Numismatic Association (ANA)
- Heritage Auctions
- Newman Numismatic Portal
- NumisBids, LLC
- CoinNews
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