The U.S. rare coin market enjoyed a record year in 2022 with several hundred top prices set for individual coins, according to an analysis by CDN Publishing.
“Continuing the momentum from 2021, we estimate the overall U.S. rare coin market exceeded a record $6 billion in total volume for the year in 2022,” said Patrick Ian Perez, the vice-president of CDN, which publishes the Greysheet family of numismatic price guides.
“Using data available to us, more than $560 million worth of U.S. rare coins were sold via public auction, marking the third consecutive year this aggregate total has increased.”
The three most valuable U.S. coins sold at auction last year – two from Heritage Auctions and another one from Stack’s Bowers Galleries – each topped $4 million. Across 2022, Heritage sold more than $347 million in U.S. rare coins while Stack’s added another $131 million worth.
Additionally, the U.S. paper money market provided more than $55 million in auction realizations in 2022. The most valuable piece of U.S. currency sold for $750,000 while another 24 banknotes sold for more than $100,000.
While the numismatic market has a “solid foundation” heading into 2023, “there are indications of cooling off, as well,” according to CDN Publisher John Feigenbaum.
“However, it is also clear that the numismatic market has been spared the severe pricing spikes and declines that have befallen other popular collectibles, like sports cards, sneakers, NFTs (non-fungible tokens), including even crypto-based investments.”