How do you think the recent Swiss Franc move will impact the Swiss coin market?

Boosibri

Franc up 15% to most major currencies after unpegging to the Euro. Swiss dealer cost basis in Euro terms is well off now though nominal pricing is unaffected. On a plane to Geneva now, we will see but buying anything in CHF terms is a poor deal for sure unless you are Swiss.

SYRACUSIAN

I guess that it depends on the dealer and the prices that they had paid to acquire their inventory. After all ,at least the major dealers do not want to suddenly lose their international clients. But my gut feeling is that the prices in general will be much higher. The rise of the CHF vs the euro reached almost 25% putting a lot of brokerage firms out of business overnight.

JCMhouston

Yes indeed, I was just looking at the upcoming Nomos auction, and the exchange rate will certainly change what I bid.

SmEagle1795

For ancients, US buyers will have a harder time buying in CHF but an easier time in EUR while European buyers will have a harder time buying anywhere.

It certainly hasn't stopped dealers from making absurd offers: it looks like they're trying to wring out as much as they can get from a small base of clients (two dealers just tried to sell me exorbitantly priced coins: 50K CHF for a $10K coin, and another offer of $385K for an $80K coin).

It might be a tough time in the short term for people to set estimates or attract consignments. I'll be very curious as to how it all shakes out!

Sullykerry52

At the recent NYINC show in NYC I could not get over the number of Russian speaking clientele walking the floors. The Russians have suffered nearly a 50% depreciation of the Rouble since the end of October. Sure, some of these fellows are likely residents here, but ultimately where are they getting their money? Pre Soviet Russian coins were in high demand.

As for Swiss franc dealers, they will adjust prices to meet market demand.

MrEureka

Just because most Swiss coins are now worth 15% more US dollars doesn't mean that anyone's actually going to buy them.

YQQ

Russian buyers have been very dominant on European auctions for the last 5-7 years. wads of cash and NOT rubles.

Boosibri

<< <i>Russian buyers have been very dominant on European auctions for the last 5-7 years. wads of cash and NOT rubles. >>



Wealthy Russians are generally not holding roubles anyways

MrEureka

Wealthy Russians are generally not holding roubles anyways

I'm sure there's some truth to that. Still, many wealthy Russians have investments and businesses in Russia, and earn local income in roubles.

Anyway, Russian coins seemed to be discounted significantly at the NYINC auctions.

coinkat

The Russian market is not what it once was...