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.
Originally posted 2008-10-26 14:00:13. Republished by Blog Post Promoter
Related Posts -
Euro Coins Coins & Paper Money -> Coins: World -> Europe Euro coins were first put into circulation in 2002 by the European Union. There are 8 coins: 1, 2 5, 10 and 20 cent coins, as well a the 100 and 200 cent coins, which equal 1 and 2 Euros, respectively....... -
Collecting Greek Coins There are three different points in time that Ancient Greek coins are divided into. The first period of time for the history of ancient Greek coins is known as the Archaic period. This particular period of time expands from when coinage first appeared in the Greek World in 600 BCE...... -
Types of Coin Collecting Software Collecting different coins is a truly pleasurable and profitable type of hobby or endeavor. Most people who are novices in collecting encounter problems relating to having too many coins, and therefore they do not have an adequate amount of information about the coins that they have or about the coins...... -
1971 Canadian Fifty-Cent Piece Money -> Coins-Canada -> Fifty-Cents If you're a coin collector, specifically a Canadian coin collector, you might enjoy looking for a 1971 Canadian fifty cent piece to add to your collection. The trick to this is finding the right fifty cent piece to know whether the coin is worth merely...... -
Liberty Head Silver Dollars money -> Coins-US -> Dollars Liberty Head silver dollars have been referred to in many different ways over the years. First they were called Buzzard Dollars, because no one really liked the original design of the rather scrawny eagle on the back. The large, heavy coins were also referred......
Related Websites -
Supracurrency Coin Proposed as United World Reserve Currency Is the supranational currency proposed by Russian President Medvedev for real? At the G8 meeting in L'Aquila, Italy (July 8-10, 2009), Medvedev is reported to have brought a sample of a new "united future world currency" coin minted in Belgium and bearing the words "unity in diversity." According to Bloomberg,...... -
What's All This Talk Of Hyperinflation And Deflation About? If you read the economic news like my fiance does anything with Kate Gosselin's picture on the cover then you've been hearing a lot about hyperinflation lately. If you don't then here's a little catch-up. Inflation is the increase in the price of goods over time. It's usually around 2-3%...... -
July 17-21, 2006 | 7th Chinese Congress on World Evangelization Marks 200 Years July 7, 2006 | ChristianPost | The seventh Chinese Congress on World Evangelization (CCOWE) will convene in the region where the gospel was first brought to the Chinese people 200 years ago to allow Chinese Christians around the world an opportunity to ‘‘rethink in light of the Bible the significance...... -
Who Will Stimulate the other Economies? As bad as things are in the U.S., other countries have it worse. Some anecdotal evidence from around world: Today, the Bank of England lowered its benchmark interest rate to 1%, the lowest its been since the bank was founded in 1694. Economic experts expect the U.K. economy to shrink...... -
![[Perth Mint Lunar Series Gold Dragon 1 Ounce coin]](http://www.livingoffdividends.com/wp-content/uploads/2008/03/perth_mint_lunar_series_gold_dragon.jpg "[Perth Mint Lunar Series Gold Dragon 1 Ounce coin]")
Gold Play: Great Time To Invest As I've mentioned before I think the US is going to enter a period of inflation and recession brought on by the trade & budget deficit and precipitated by the devaluing dollar. Both Oil and Gold have been in a slow and quiet bull market for the past few years.......
