It is hard to compare the art market to the coin market because of both the size of the market and the nature of east repective item. I dare say more people understand the concept of art collections over coins.
Most high end coin collections spend most of the time tucked away out of sight in safe deposit boxes or personal safes anyway. The owner does pull them out occasionally for a "play date" as Bill Shamhart used to say. Art is really harder to hide.
To purposely hoard art out of sight is sad. However, to avoid the huge sales taxes as mentioned in the article, I might do the same thing if I had that kind of bank account.
Plus, you had better believe that a few coin dealers would be actively looking for certain small gold and silver rarities for me!
Yorkshireman,Obsessed collector of round, metallic pieces of history.Hunting for Latin American colonial portraits plus cool US & British coins.
What I took from the article is that the art world is lamenting the fact that the great works are being stored in duty free zones around the world and are not being seen by the masses. Wealthy are using these places to hide their wealth and avoid taxation. I don't see a lot of correlation between the article and coins. I'll never own a multi million dollar collection, but from what I have observed at the auctions, the high end coin market is far riskier than the high end art market. Not heard of anyone losing on a Picasso. JMO
If the US ever adopts a national sales tax, and if there's no exemption for rare coins, I would not be surprised to see many collectors keeping their coins in similar offshore storage facilities.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What I took from the article is that the art world is lamenting the fact that the great works are being stored in duty free zones around the world and are not being seen by the masses. Wealthy are using these places to hide their wealth and avoid taxation. I don't see a lot of correlation between the article and coins. I'll never own a multi million dollar collection, but from what I have observed at the auctions, the high end coin market is far riskier than the high end art market. Not heard of anyone losing on a Picasso. JMO
Not sure about the high end coin market is far riskier than the high end coin market. I heard Q David Bowers make the opposite point. With third party grading, pricing info so available ---you can buy a coin and if you needed to sell it in a year can realize 90% back (obviously this doesn't apply if you simply paid a high price without doing your homework). On he other hand Bowers said doing the same with art work you will take a 50% loss. Lately I've seen some multi million dollar losses on high end art work being sold as well
Coins and arts are completely different animals in collecting world. In all major museums, you see arts everywhere and you rarely see a coin because coins are historic items; coins are not arts from art museum point of view, regardless how nice the coin design is. Because of this argument, coins' prices would never be comparable to arts' prices.
Let me tell you how "modern" art collectors and investors to take advantage on these duty free zones. Indeed, they store their millions-billions of dollars investments in duty free zone and they opened a private museum. They kept on "borrowing" items from their own duty free zone "storage" companies for exhibition purpose. They can enjoy viewing their collections in their private museum and do trades in duty free zone. Is there any reason not to do so to save billions?
What I took from the article is that the art world is lamenting the fact that the great works are being stored in duty free zones around the world and are not being seen by the masses. Wealthy are using these places to hide their wealth and avoid taxation. I don't see a lot of correlation between the article and coins. I'll never own a multi million dollar collection, but from what I have observed at the auctions, the high end coin market is far riskier than the high end art market. Not heard of anyone losing on a Picasso. JMO
Not sure about the high end coin market is far riskier than the high end coin market. I heard Q David Bowers make the opposite point. With third party grading, pricing info so available ---you can buy a coin and if you needed to sell it in a year can realize 90% back (obviously this doesn't apply if you simply paid a high price without doing your homework). On he other hand Bowers said doing the same with art work you will take a 50% loss. Lately I've seen some multi million dollar losses on high end art work being sold as well
Comments
It is hard to compare the art market to the coin market because of both the size of the market and the nature of east repective item. I dare say more people understand the concept of art collections over coins.
Most high end coin collections spend most of the time tucked away out of sight in safe deposit boxes or personal safes anyway. The owner does pull them out occasionally for a "play date" as Bill Shamhart used to say. Art is really harder to hide.
To purposely hoard art out of sight is sad. However, to avoid the huge sales taxes as mentioned in the article, I might do the same thing if I had that kind of bank account.
Plus, you had better believe that a few coin dealers would be actively looking for certain small gold and silver rarities for me!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
their bad choice will catch up with them and they will pay more then they would before
as for investing and collecting one has to be willing to take risks where the odds are never in
their favor
coins for sale at link below
https://photos.app.goo.gl/MUcEu23nqpzNqJhX6
What I took from the article is that the art world is lamenting the fact that the great works are being stored in duty free zones around the world and are not being seen by the masses. Wealthy are using these places to hide their wealth and avoid taxation. I don't see a lot of correlation between the article and coins. I'll never own a multi million dollar collection, but from what I have observed at the auctions, the high end coin market is far riskier than the high end art market. Not heard of anyone losing on a Picasso. JMO
Not sure about the high end coin market is far riskier than the high end coin market. I heard Q David Bowers make the opposite point. With third party grading, pricing info so available ---you can buy a coin and if you needed to sell it in a year can realize 90% back (obviously this doesn't apply if you simply paid a high price without doing your homework). On he other hand Bowers said doing the same with art work you will take a 50% loss. Lately I've seen some multi million dollar losses on high end art work being sold as well
Let me tell you how "modern" art collectors and investors to take advantage on these duty free zones. Indeed, they store their millions-billions of dollars investments in duty free zone and they opened a private museum. They kept on "borrowing" items from their own duty free zone "storage" companies for exhibition purpose. They can enjoy viewing their collections in their private museum and do trades in duty free zone. Is there any reason not to do so to save billions?
What I took from the article is that the art world is lamenting the fact that the great works are being stored in duty free zones around the world and are not being seen by the masses. Wealthy are using these places to hide their wealth and avoid taxation. I don't see a lot of correlation between the article and coins. I'll never own a multi million dollar collection, but from what I have observed at the auctions, the high end coin market is far riskier than the high end art market. Not heard of anyone losing on a Picasso. JMO
Not sure about the high end coin market is far riskier than the high end coin market. I heard Q David Bowers make the opposite point. With third party grading, pricing info so available ---you can buy a coin and if you needed to sell it in a year can realize 90% back (obviously this doesn't apply if you simply paid a high price without doing your homework). On he other hand Bowers said doing the same with art work you will take a 50% loss. Lately I've seen some multi million dollar losses on high end art work being sold as well
Q David Bowers sells coins for a living.