[EN] Rare coins spark interest and generate R$31 million

  

Centenary event of the Brazilian Numismatic Society brings together collectors of rare and ancient coins at an exhibition in São Paulo — Photo: Rogerio Vieira/Valor

     It may seem strange to invest in coins while digital money advances, but numismatics – the study of coins, banknotes, and medals – moves between $50 billion and $100 billion annually worldwide, and Brazilians are no exception. Despite the underexplored domestic market, thousands of enthusiasts gather at exhibitions and fairs across the country, in addition to investing significant sums in antique pieces.

     Data from the platform "LeilõesBR," one of the most used auction systems by collectors in the country, shows that the coin market moved at least R$31 million in 2023. The previous year, the value of sales on the platform exceeded R$33 million.

     The vice president of the Brazilian Numismatic Society (SNB), Bruno Pellizzari, states that the profile of numismatists in the country is quite diverse, ranging from those who view collections as investments to those who are simply fascinated by the culture behind the coin. "Among those who enjoy it, there are collectors with higher purchasing power and rarer pieces. But there are also those who collect simpler coins," he explains.

     The association, which has 800 members, attracted hundreds of collectors to the event that celebrated its centenary last week in São Paulo. Among the speakers was the coordinator of the Visual Arts and Collection Division of Itaú Cultural, Edson Cruz, who shared a bit about the permanent exhibition "Art in Money," inaugurated in December. In this exhibition, the institution displays a vast collection of coins, medals, banknotes, and stamps from Brazilian numismatics. "Those interested in history, general knowledge, and their own pockets should get to know it," Cruz points out.

     One of the most interesting coins in Brazilian numismatics takes center stage at the exhibition, the so-called Peça da Coroação, a 6,400 réis gold coin minted in commemoration of the coronation of Emperor D. Pedro I. With only 14 known units in the world, it is now valued at R$ 4 million.

     "It was the first coin of independent Brazil, but Dom Pedro was depicted in profile, with a bare chest and a crown of laurels on his head, similar to a Roman dictator, which was not appropriate for the political moment of the time. That’s why Dom Pedro ordered the destruction of the coins, and only 14 survived," Cruz explains. It is believed that 64 units were produced, but the rest were destroyed by the emperor.

     In March of this year, the Central Bank (BC) will release a commemorative silver coin in honor of the 200th anniversary of Brazil's First Constitution and the creation of the Legislative Power, something rare to happen, which has collectors and investors paying close attention. However, the details of the launch, including the mintage of the coins, have not been disclosed. The institution states that the value of banknotes and coins in circulation remains stable, despite the emergence of new payment methods such as Pix, and “it will take some time for the evolution of the impacts on payment habits to be clearly mapped.”

     The vice president of SNB recalls how his interest in studying other centuries and civilizations led him to become a collector, as the history that coins tell is what drives numismatists. “These are topics we learn about in school, but we can’t measure them in a tangible way. One example is the bust of Cleopatra, which we first got to know through coins. They are important to recover the past and understand the period in which they were minted,” he says.

"Anyone interested in history, general knowledge, and their own pocket should get to know it."

— Edson Cruz

     When Pellizzari delved into the world of coins, he encountered some resistance from his family, who thought it was strange to "spend current money on old money, which technically was worth nothing anymore." But over time, his family understood that he was learning history and geography through the pieces and began to "see it more normally," he recalls. The vice president started his collection on his own, at the age of 17, when he found coins from monetary systems prior to the real in his grandmother's house, who didn't have the habit of collecting.

     Just like for other numismatists, the interest in collecting is not a family tradition and happens by chance. While walking through downtown São Paulo in 1984, Marcelo Germinario, then 17 years old, found a man selling coins on a board and was enchanted by the antiquity of the pieces. Seven years later, he became a dealer and has been selling coins ever since. At 57, he takes his 14-year-old son Gabriel to SNB events and says he is "training his successor." "I am teaching him how to collect and trade. He already makes deals, uses social media, and participates in the society's auction. People who are not in the field find it strange, think it's very exotic, but my wife has gotten used to it," says Germinario.

    The teenager has been accompanying his father since he was 8 and became the youngest member, at 10, when he started his collection. "Today, I have more than 100 pieces in perfect condition. I have a Roman coin from before Christ. I think it's cool to have history at home," says Gabriel.

     Numismatist Mariana Campos' passion also began early, at 13, influenced by her grandmother, but it was only in 2019 that she decided to turn her hobby into a profession. At 43, the journalist is the commercial director of the Sociedade Numismática Brasileira and is part of a growing movement of women numismatists in the country.

     According to a survey by the SNB from August 2021, the number of female members reached 3.6%. The number may seem small, but the market used to be even more male-dominated. In the same year, Campos helped create a WhatsApp group that brings together about 60 women enthusiasts of collecting.

     “The market has already made progress, it was very sexist. I felt the difference when I arrived at events or in a store. We were able to change the perspective a bit in these spaces overall and started to carry the banner that everyone can participate,” says Campos.

     Few collectors become interested in the subject later in life, says Cristiano Bierrenbach, a partner at the American auction house Heritage Auctions, who began collecting at the age of 7 when he found a box of 1930s Brazilian nickel coins at his great-grandfather's house in Rio de Janeiro. For him, "collecting is a passion awakened in childhood," where the "instinct" of price evaluation develops and is applied throughout life. "The greatest numismatists became interested as children and can perceive this value dynamic in a collection," he reiterates.

     After 30 years working with collectibles, Bierrenbach says half of the transactions are in the United States, with the rest spread across China and some European countries. One of the main differences between foreign and Brazilian markets, according to him, is self-regulation through associations and professional institutions. "Anyone who wants to participate in the highest level of the trade must be in associations that foresee at least ethical and professional behavior toward the market and collectors," he points out.

     Thus, the level of transparency in the international market is higher and allows for closer interaction with the public, assures Bierrenbach. "Before, Brazilian dealers didn’t pass on information, whereas here we share with buyers so they understand and become collectors for life," he concludes.

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To cite this text:

Salinet, Maria Fernanda. Rare coins spark interest and generate R$31 million. Valor Econômico – Globo, February 2024 Available at: <https://www.numismaticos.com.br/2024/02/en-rare-coins-spark-interest-and.html (https://valor.globo.com/financas/noticia/2024/01/25/moedas-raras-despertam-interesse-e-giram-r-31-mi.ghtml)>.