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Latin America: Market conditions as of 2025?
Early_Milled_Latin_America
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I only follow early milled 1 reales (mostly) so curious how prices have been doing outside of these? Have prices gone up in the last 5 years or down? What country is most in demand?
How is the future looking as far as new collectors are concerned are there more or less?
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As for early milled 1 reales I find since I started collecting them about 2-3 years ago prices have remained around the same. There seems to be a little more demand for Mexico early milled 1 reales. Hard to say for countries like Guatemala so few ever show up. As for Peru it seems about the same in the last few years.
You're going to get numerous anecdotal responses that don't tell you much of anything. Not much different than when this type of question is asked on the US side of this site.
To get a useful answer you need data, but there is even less of it than with US coins, usually a lot less. There isn't enough sales volume to indicate much of anything other than the direction is (presumably usually) "up" for your time period (five years) and very few collectors collect a wide enough variety of this coinage due to a lack of interest or budget.
For the Peru pillar coinage, I'd describe the recent Sedwick sale as mostly weak and the Heritage sale average to strong. But it mostly wasn't the same coins (date/denomination) and where it was, Sedwick was mostly not in a holder in a (somewhat) lower quality vs. Heritage.
I'd guess it's somewhat more than five years ago but you're asking a question that cannot be answered.
In a financial context, it's also more relevant how much "hard core" collectors are willing to pay. Given the very limited supply of this coinage collectors presumably prefer to buy most, the number can remain unchanged, but prices can still significantly increase even if it's just two competing for the same coins.
Readers Digested Condensed version is as follows:
It’s about the look of the coin, the auction venue and who participates.
Others may see it differently which is okay as those that participate have their own experiences.
Experience the World through Numismatics...it's more than you can imagine.
In general, the best coins are doing extremely well. The rest..meh. There is always some place with a pocket of strength and another with a pocket of weakness.
Remember, there are thin markets cannot be measured by single data points.
Latin American Collection
I can only comment on coins from Chile: Strong prices internationally across the board for scarce issues in better than average condition. Prices are still 'robust' for scarce coins in lower condition.
The exception is the local market - Chilean coins sold in Chile bring crazy prices, 20%-100% more than abroad. Many buyers don't pay much attention to defects (cleaned, scratched, damaged), and sellers often will not even mention defects when selling.
Your description is similar to what existed in South Africa when it was my primary interest up to about 2010 and followed it up to about 2015, with a distinction for "problem" coins.
South Africa was different in that local collectors have a strong preference for TPG, but since it is their coinage and the market is comparably financialized to the US (just at lower prices), they have a higher preference for it and the prices were (and presumably mostly still are) higher there vs. elsewhere. I'd invariably see coins arbitraged bought from international sources resold for higher prices locally. I did the same thing temporarily while I was able to source raw coins for cheap prices.
Just> @Eddi said:
Not that I doubt it, but if that’s the case, why don’t we see Chilean dealers scooping up everything around the globe and bringing it home? Is it somehow difficult or expensive to bring coins into Chile?
Doggedly collecting coins of the Central American Republic.
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I am sure that at least some of the high value chilean coins sold via the major auction houses are bought by affluent Chilean collectors (and there are some).
However, this is not what leads to the situation I described. Rather, it is simply due to supply and demand: Chile has become more affluent over the last 15-20 years. More disposable income in the hands of more 'average' collectors is chasing a relatively small supply of coins. Generally, far fewer Santiago mint coins exist than say Lima or Mexico, or Potosi. The cost of repatriating coins (as they call it) from the U.S and Europe is high also (22%+ import tax, as well up to 8% or so 'handling + shipping fees', on top of the auction house comission). Local dealers also buy at auction internationally to resell to local collectors.
As I said, I am constantly amazed at the prices paid locally for sub-par coins, obviously cleaned, scratched, damaged.
I mean, I don't think the idea of a given country's coinage bringing higher prices domestically vs. in another random country is an earth-shattering concept... But looking at this specific point and relating it to the "overall market for Latin American coinage":
That doesn't just apply to Chilean coins in Chile. That frankly applies to pretty much MOST Spanish Colonial/earlier post-Colonial Latin American coinage, at least on the American auction/eBay market now vs. ten or even five years ago. Dreck or high-end, doesn't matter. I COULD point to some less popular series that have not gone nuts (idk... low-grade Mex Cap & Ray minors, for example)... but by and large, much of it has jumped by multiples.
Mexico 1 reales seem to have risen in price over the past few years. Paid 400$ for my PCGS F-12 1733 MO MF. One sold in June of this year in the same grade (NGC F-12) for 900$.
Maybe because it is a key date. I know better graded examples of other dates have also picked up steam. Will the trend continue we will have to wait and see.
I cannot say for early milled Mexico 1/2, 2, 4 or 8 reales I do not follow them.
They all seem to have strengthened over the last few years
I'm BACK!!! Used to be Billet7 on the old forum.
I wonder with shows now in New York how all this will play out (Arizona been the only State previously). Hopefully it spreads to other larger cities lika LA. Seems to me that can only add new collectors for Mexico coins at a minimum. Not sure about Peru and Guatemala and the like but I imagine those shows will help add to the collector base as well.
That’s probably true, I could stand waiting a few years though, I’d prefer to pay lower prices 😜
I'm BACK!!! Used to be Billet7 on the old forum.
Wish I had started collecting Latin American coins 10+ years ago versus only starting late 2019.