In 2017, a gold Saint Wenceslas ten-ducat from 1937 became the most expensive Czech coin. It was auctioned for a whopping 550 thousand Euro, which is approximately 14.7 million crowns. Today, an even more unique piece was auctioned - a gold five-ducat from 1937, only four of which had ever been minted. The new owner paid a whopping 850 thousand Euro for it, which is more than 23 million crowns, which made it the new most expensive Czech coin.
According to the co-owner of the Antium Aurum auction hall, Pavel Kroužek, there were only four to ten pieces of the offered five-ducat made, the exact number is not known, nor where the others are located.
"These larger denominations were made for export, most likely all abroad. One of the mentioned ten-ducats from 1937 is in the Czech National Bank, but there is no five-ducat there,"
said Pavel Koružek. According to him, the five-ducat that was auctioned today comes from a foreign collection and the interest in it is huge.
In the coronavirus era, traders saw a fivefold increase in demand for collector coins and precious metals. Sometimes the interest of buyers cannot even be satisfied, as the demand trumps supply. This was stated by the owners of specialized shops and auction halls. Demand for silver coins has tripled, with daily sales of precious metals at some retailers equal to weekly sales prior to the coronavirus crisis. People are looking for a relatively safe investment in these uncertain times, and on top of that, Czechs are also world-famous numismatists.
"Sales of investment coins have been growing at a record rate in the last six months. Demand for silver coins has tripled, even. The prices of coins from various thematic series are close to the prices of investment ingots, "
said Libor Brůna, Chairman of the Board of Directors of Golden Gate CZ, which offers precious metals for investment purposes. However, due to the high demand and the limited number of minted pieces, the price of coins grows rapidly over time.
People invest in things with intrinsic value
"People try to protect their savings and put them in objects that have some intrinsic value - be it in a gold or silver investment coin, a historical coin with a story or a painting by a famous painter,"
said Jan Jelínek from the Macho & Chlapovič auction hall. According to him, the crisis certainly does not affect the numismatic industry and clients still want to purchase.
Open in gallery (3)
Dražební místnost. Source: archiv LP-life.cz
"The biggest interest started in February, because people are afraid that money will be devalued,"
revealed Pavel Kroužek, whose auction hall held the auction today.
Open in gallery (3)
Ilustrační foto: minceSource: Pixabay.com/geralt
According to Kroužek, new clients have been coming in the last six months, but even the existing ones who have set aside more money for it have started shopping even more. He estimates that the interest since spring has increased by 30 percent.
