Coins & Paper Money -> Coins: World -> Russia
Russian coins have recently become a popular investment, with many of the popular dealers selling out of supplies, and some older and more rare coins earning over $45,000 at auction. Many people gave up on Russian coin collecting in 2007 because of the raising values and costs of most Russian coins and the sudden surge of people interested in Russian coins, not just as hobbyists and collectors, but because of the believed investment potential these coins suddenly had.
Imperial Russian coins prices have doubled in the last year, making any pre-1917 Russian coin more expensive to obtain, taking it out of the reach of many hobby collectors, and consequently more valuable. Even the dealers are a bit baffled by the sudden upswing in the Russian coin market, especially in as short a time as one year .
The demand for Russians coins actually started 5 or 6 years ago, as the country’s economy began to stabilize after years of difficult times. During much of the 20th century, all but the wealthiest Russians often had trouble making ends meet, so expensive things were put aside. Many silver and gold coins were melted down. While the records of how many coins were minted are still there, no one knows how many were melted down and put into another form during their years of weak economy. Because Russia doesn’t allow the export of its Imperial coins, finding them outside Russia is fairly rare, with those coins either appearing outside Russia illegally, or perhaps brought by Russian immigrants years ago.
Russian coins are actually even more valuable inside Russia than they are elsewhere. Now that the economy is improving, people are more able to indulge in hobbies like coin collecting, and since so many early coins were destroyed it’s these coins that seem to have the most value. Because the price is steadily increasing, investors know that they can turn a profit in only a few months by purchasing the coins and then reselling them at their new, higher market prices later.
While this value growth can’t continue indefinitely, Russian coins still sell for less than their British and American counterparts of similar rarity, so it could continue for yet while. As long as the Russian economy improves, it’s believed that the value of Russian coins will continue to grow. At some point, though, the selling price for many Russian coins will drop, perhaps dramatically, so if you’re after a particular coin that’s out of your price range, a wait and see attitude could serve you well and get you the coin at a more affordable price.
Because of the high value of some Russian coins today, fakes have flooded the marketplace. Coin dealers can easily spot a fake, while some eBay sellers who have no intention of defrauding anyone might have no idea that their coins aren’t genuine. Choose sellers who have extensive numismatic experience and can vouch for the authenticity of their coins, and offer a refund if you should have the coin examined and discover it’s not genuine.
Photo Credits: kevindooley
Originally posted 2008-10-26 14:00:13. Republished by Blog Post Promoter
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