Russian coin prices

[davidfo]

I always had an eye on Russian coins and 4-5 years bought a few imperial rubles at XF or almost AU at sub $50 prices. My feeling was I was overpaying but did not want to bother for +/-$10. I started looking again and these same coins are $200+ these days. One would be happy, but these coins are completely unaffordable. What happened? Too many "new Russians" bidding? Any observations as to what happened to the market?

[alexbq2]

I always had an eye on Russian coins and 4-5 years bought a few imperial rubles at XF or almost AU at sub $50 prices. My feeling was I was overpaying but did not want to bother for +/-$10. I started looking again and these same coins are $200+ these days. One would be happy, but these coins are completely unaffordable. What happened? Too many "new Russians" bidding? Any observations as to what happened to the market?

 

Increased demand and competition is the only explanation I have. One of the forum members calls it - "Russian Coins Arms Race".

[davidfo]

Is it a bubble of some sort? Variates such as 1896 coronation ruble are not exactly rare but can go for $300 for a relatively washed up silver. I love these coins, but at such prices there are some very nice US coinage available. Where is the demand coming from? America is/was in recession. Must be my countryman, Russians. Just do not want to buy into a bubble. Any thoughts?

[alexbq2]

Is it a bubble of some sort? Variates such as 1896 coronation ruble are not exactly rare but can go for $300 for a relatively washed up silver. I love these coins, but at such prices there are some very nice US coinage available. Where is the demand coming from? America is/was in recession. Must be my countryman, Russians. Just do not want to buy into a bubble. Any thoughts?

 

The prices have been climbing steadily since at least 2000. There was a small dip when the recent crisis struck, but IMHO the prices are back up. Most collectors are in Russia or X-USSR countries, and now they are buying in the western markets. Lots of collectors in the west are ex-pats, but not all. Seems like there are a lot of beginners entering even at this stage – just look at how many people are bidding and buying easily identifiable fakes on eBay. Of course, if the demand weakens the prices will fall. If Russian or global economy tanks, the prices will definitely fall, but then any investment will suffer.

 

I have a small, and not a particularly valuable collection, if the prices fall I’m not going to lament too much. If prices fall, and I still have a reasonable income, I will be quite happy! But it seems a lot of people feel that way, and that does not bode well for the prices falling without cataclysmic events.