World coins proving popular at Heritage as firm soars past 2013 sales record

Not even halfway through 2014, firm tops previous year's sales volume
By , Coin World
Published : 05/30/14
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World coins are providing plenty of sales for Dallas-based auction house Heritage Auctions.

The firm announced May 28 that its auctions of world and ancient coins had already exceeded $39 million, in five months surpassing sales in the same category for all of 2013. Last year the auction house notched total world and ancient coin sales of just over $35.6 million, according to figures the company provided.

Driving the record sales have been two major New York-based auctions early in 2014, the first conducted at the New York International Numismatic Convention early in January and the second, barely a week later, being composed of world coins from the collection of famed numismatist Eric P. Newman.

Weekly auctions online are also part of the firm’s growth strategy.

“These results show just how strong the World & Ancient Coin market has become,” said Cristiano Bierrenbach, vice president of Heritage. “They also show how dedicated Heritage is to growing this and developing this category for the long term.” 

Sales of world and ancient coins sold at auction during the first five months of 2014 total $39,817,748, compared to $35,606,147 realized during the entirety of 2013, a difference of more than $3.5 million. Annual sales in the category in 2012 reached more than $33.2 million, and in 2011 were “just shy of” $38 million.

The NYINC auction realized approximately $15 million; one of the highlights was a 1711 Royal gold 8-escudo cob of Mexico, one of 50 known, that realized $293,750.

The Newman sale, part III, realized some $6 million, and that was followed by the Chicago International Coin Fair auction in April that included some $5 million of ancient coins, a record offering for the firm.

Weekly world coin auctions, which close on every Thursday,  are welcoming new bidders, according to Heritage, noting that 12 percent of bidders in these auctions are new clients. The increase in bidders has pushed average sales above $45,000 per week for an average of 300 lots, both new highs.

Upcoming world and ancient coin auctions include a Platinum Night auction during the American Numismatic Association World’s Fair of Money, Aug. 6 to 11 in Chicago, and a Signature Auction in Long Beach, Calif., Sept. 3 to 8.

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