A Closer Look at Rare Coin Values and Price Indexes

It’s challenging to figure out the rare coin market. Have rare coin values been rising or falling? Is the overall demand for rare coins healthy, or is the industry in a slump?

Even the wisest coin numismatics and coin dealers have difficulty summarizing the current state of the market.

Rare Coin Values for Collectors

The size of the collectible coin market is massive. Some reports show an industry that’s been sliding for years, if not decades.

Other reports indicate auction sales are never higher and buyers pay record-setting prices. Of course, the health of the market depends on what specific aspect we are investigating.

Use these price indexes for a deeper understanding of the current state of rare coin values in the coin collecting world.

PCGS 3000 Index

The folks at the Professional Coin Grading Service (PCGS) put together an index of 3,000 rare coins and release a monthly report.

The report reflects an increase or decrease in value for the 3,000 rare coins listed in the index each month. Charts are shown in one-year, three-year, and ten-year durations, as well as 1970 to date.

rare coin values 10 year price chart
The PCGS 3000 Rare Coin Index – As of April 2020. Image credit – PCGS
pcgs 3000 coin values
What a difference 3 years can make in the rare coin market!

As you can see from the chart above, there appears to be a downturn in rare coin values over the last several years.

Coin experts and enthusiasts debate the validity of the PCGS 3000 index price decline.

Some coin collectors argue the index doesn’t represent the overall health of the rare coin market because it features only the top 3,000 coins.

Without accounting for rare coins in the lower price points, the index doesn’t paint a fair picture of coin values.

Others in the industry make the point that ignoring the price performance of the top 3,000 coins in the industry would be ludicrous.

It would be like ignoring the S&P 500 Index when considering the value of the entire stock market or even an individual stock.

PCGS is one of the most prominent coin-grading companies in the industry.

Therefore, ignoring the decades of experience valuing and grading the top coins in the world would be a mistake.

The PCGS 3000 Morgan and Peace Dollar Index

Just over the last two years, the Morgan and Peace Dollar Index have done a complete turnaround. Values were down and headed lower.

But in late 2020, values started gaining. Liberty Peace dollars are some of the most valuable silver dollar coins, while the Morgan silver dollar is highly popular.

rare coin index
The PCGS 3000 Morgan and Peace Dollar Index

Rare Coin Values Index

Another informative index to follow is the Rare Coin Values Index (RCVI). The index tracks the percentage change in 87 United States rare coins.

The values of each coin are determined from a variety of reputable price guides and reported monthly as a percentage increase or decrease.

Each of the 87 coins in the index receives equal weighting.

rare coin values since year 2000
The Rare Coin Values Index Since the year 2000. Image credit – U.S. Coin Values Advisor

As you can see in the RCVI chart above, it’s telling a different story compared to the PCGS 3000 Index. The market appears to be at or near its peak.

One factor contributing to the discrepancy between the two rare coin indexes is they track different coins. The PCGS 3000 includes the top rare coins with extreme values.

However, RCVI is determined using a much more conservative assortment of rare coins.

By focusing on the average collector and excluding ultra-rare, multi-million dollar coins, the two indexes will tell a much different story.

Price Guides

There are dozens, possibly hundreds of price guides publishing rare coin values.

Therefore, the amount of research available is almost endless when researching rare coin values. Using individual price guides is a much more accurate way to determine coin values.

Following established price indexes along with reputable price guides can be a complementary way to get a handle on the current state of the rare coin market.

The NGC Price Guide

The Numismatic Guaranty Company (NGC) has been tracking coin values since 1987.

Along with their extensive price guide, they are also one of the largest coin grading companies in the world. Over 55 million coins have been carefully examined and graded at NGC.

The NGC tracks coin prices for virtually every type of rare and collector coin. Values are completely sortable by NGC grade, including a ‘Shop Now’ eBay link for purchasing.

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Valuing Gold Coins

Valuing gold coins can be challenging because there are several variables at play. First, the coin itself. And secondly, the current spot price of gold.

USA Gold tracks daily pricing for gold coins, precious metals, and bullion, with daily updates.

Not only that, but the site includes a live daily newsletter, a daily gold market report, and live gold prices with charts.

PCGS Mint State Rare Gold Coin Index

pcgs gold coin index prices
Valuing mint state rare gold coins with the PCGS Index

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