Jim Bisognani: My 15th Annual NGC Year in Review – Part 1

Without a doubt, there has been a tremendous boost of activity and excitement in all numismatic circles during 2025. Rare coins in high grades and problem-free circulated collector coins are being scarfed up by scores of eager collectors.

Auction houses are very, very busy, it seems like every hour my iPhone alerts me that another auction is about to start. Will this juggernaut continue in 2026 and beyond? Who knows? Maybe consulting with some numismatic notables and fellow coindexters would help answer that.

Without further ado, it’s time for my 15th annual NGC Market Report Review! Wow, this has been an exciting journey over the past 15 years. Once again, I’ve enlisted the capable assistance of coin dealers, coindexters and coin nerds to assist in this exciting annual ritual. I proudly present Part One of my 15th (wow!) annual NGC Market Report Review.

Jim’s 15th Annual NGC Year in Review – Part 1

2025 has been an amazing year for numismatics. Record prices at auction and precious metals on a rampage seems to have opened the floodgates for scores of collectors to revisit numismatics.

How has your business been impacted?

Jeff Garrett – Founder of Mid-American Rare Coin Galleries, Inc.

The rare coin market seems to be firing on all cylinders in 2025. The metals market is at record levels, increasing the number of bullion trades for most dealers. The demand for coins selling on streaming platforms — such as WhatNot and eBay Live — has been tremendous. And rare coins at the high end continue to break auction records with regularity. 2025 may be one of the best years ever for my various numismatic companies.

Bob Green – Owner of Park Avenue Numismatics

The parabolic growth in gold and silver has had a very positive impact on our business, as sellers take profit and new buyers experience FOMO and begin buying. We’ve purchased more metals in 2025 from the public than ever before.

Brian Hodge – Partner of Lee Minshull Rare Coins (LMRC)

I think a lot of this is institutional. When you get $4,000+ gold, a little bit of what happens is you lose the middle- to sub-upper class entirely, and the buying becomes outsourced to only the most affluential or institutional. Thus, margins have shrunk and the ordinary buyer isn’t that easy to obtain anymore.

Jim Stoutjesdyk – Senior Vice President and Partner of Heritage Auctions

During my 32 years at Heritage Auctions, I have simply never seen the incredible volume of business we have done this past year. Hundreds of packages arrive each day and hundreds of orders are shipped out — and that’s just on the wholesale side! There are multiple auctions taking place constantly and thousands of auction lots being sold each month. The publicity given to rare coins and collectibles fueled by the price of gold and silver hitting all-time historic highs has allowed Heritage to reach 2 million registered bidders and have nearly 1,000 employees. Business is good!

Chris B. – Ancients Collector from New Jersey

I’m not a dealer, but I’ve been actively buying the past three years after a 15-year pause (there are many more sophisticated participants these days). The information is much better, the market more liquid (largely due to third-party grading by NGC and others) and the bidders diverse (due to the global reach of the major auction houses through their online platforms). But I have found myself paying crazy prices at auctions because I have other determined buyers competing with me.

Brian Timmons – Owner of Brian Timmons Rare Coins (BTRC)

I have seen a huge rise in business from all aspects. People selling gold and silver that they were way ahead in or trading it for numismatics… also new people just entering the market, purchasing precious metals and then becoming interested in numismatic coins.

Kevin Lipton – Owner of Kevin Lipton Rare Coins

KLRC will be at record levels in 2025, exceeding $300 million in sales.

James Sibley – Collector from Texas

From a collector’s perspective, I’ve found the competition for the coins I collect (classic US type, preferably gradded MS/PF 65 or higher by one of the major third-party grading companies and, ideally, with a CAC sticker) to be the most intense since I returned to collecting in late 2018, when I retired. I tend to buy coins at one of the major auction houses and have ended up the underbidder this year more often than not. And I feel like I am constantly adjusting — upwards — my bids. I can’t speak to what’s happened price-wise, with common coins or the lower grades of the scarcer coins, but for the coins I collect, I feel that prices have risen a minimum of 50% since COVID and have not stopped rising by any means. For me, rising prices is not always a good thing.

John Brush – President and Owner of David Lawrence Rare Coins

Bullion doesn’t really affect our world of rare coins, but I do think that it adds some interest from the general public and hopefully brings in new collectors along the way. I do think that new issues that are obtainable (from the mint) with some form of rarity — artificial or not — bring attention to the hobby. I also think that record prices for coins and when we’re able to share that news to the general public bring in interest from those who invest in more alternative opportunities and collectibles.

What are your recommendations on how to inspire and draw new collectors to the hobby?

Jim Stoutjesdyk

The cent being discontinued will probably create a huge number of new collectors as people start saving cents and then evolve into being more serious collectors. The same was true in 1857 when Large Cents disappeared from circulation. This spurred on a huge interest in coin collecting that probably had a lot to do with the American Numismatic Society being formed in 1858 and the Mint starting to regularly produce Proof sets for collectors. Also, the cool new coin designs coming in 2026 to celebrate the United States Semiquincentennial (yep, get to know that word) will definitely spur on a new generation of coin collectors.

Jeff Garrett

It’s all about the stories! Collectors love coins with good stories and the hobby needs to do better telling them. My hat’s off to all of the numismatic authors out there!

Bob Green

It’s all about well-placed marketing. The US Mint has helped the industry as well, with more and more new releases that have become available — though some are still quite scarce! Collectors love to complete sets such as the American Silver Eagles.

Kevin Lipton

I think all the positive stuff being done online has been incredibly positive, along with the leading coin television shows.

John Brush

I’ve always found that there are many different ways in which collectors find the hobby of numismatics. Whether it’s through art appreciation, a desire to own a piece of history or a return to a hobby that was enjoyed at a younger age, there are a plethora of paths that collectors find. One of the ones that seems to have become a tougher entry as of late is value creation. Many younger dealers have found their way to the professional side of the hobby as they see a way of making money or establishing a future career. It can be a passion or love on the side, or it can be an all-encompassing hobby that turns into a career or a hobby that finances itself. And with the increased pricing in the numismatic world, this is becoming tougher on those with limited budgets.

Brian Hodge

Make coins “sexy” again. I don’t know how to change that, but conventions need to be better, for starters. Bring the wealth; bring the fun! Do that, and you’ll change the game and get a lot more social media interaction in the coin space.

Chris B.

Birth-year coin sets. For the very young, placing clean, blemish-free circulated coins in Christmas Advent calendars that have drawers has been a huge hit. Or maybe a special year or design can be marveled at before coins are placed in a piggy bank or in Whitman holders. Just remember that young kids like to handle the coins, so unencapsulated, circulated coins worth just face value would be a better choice over rare coins that could get damaged or lose value. You could even sprinkle in some world coins, or work a theme through the 24 days of a standard Advent calendar!

Also, for Easter, coins instead of candy inside plastic Easter eggs are a big hit (especially with health-conscious parents). If hiding the Easter egg outside, use the larger denominations (quarters, half dollars and dollars) as they are easier to find in case they are dropped in the grass.

James Sibley

I think we’re doing about as much as can practically be done to attract new (translate: younger) collectors to the hobby. With programs like Witter U., internships offered by the major auction houses, giveaways (free ANA memberships for YNs, free coins, etc.) and incentives at the club level, there are ample things to attract younger collectors. The problem may be the cultural shift. While many of today’s collectors started out as paper boys (I did!) actually handling coins that would get stuck into Whitman folders, my sense is that our kids are growing up glued to screens. Is there enough “pop” in numismatics to make them happy? Or do they even come into contact with coins in their everyday lives?

Are MS 65 to MS 68 US Type “wonder” coins and finest-knowns a good value in this market? If so, what are the best options?

Jim Stoutjesdyk

I’ve always told people to buy the best you can afford. I certainly can’t disparage coins that grade MS 67+, MS 68 or even MS 69 since Heritage certainly sells them regularly in our auctions. However, sometimes I take a step back and say to myself, “Is that MS 68 coin really worth 5-10 times (or sometimes even 20 times) more than the same coin in MS 67 grades, when the differences in quality are practically indistinguishable? The conclusion I usually reach is no — at least, not for me. I would much rather have the MS 66 or MS 67 coin that has incredible eye appeal and is just a fraction of the cost of the same coin in MS 68. So yes, buy the best you can afford, but unless you have an unlimited budget, you don’t need to get obsessed with thinking you must own MS 68 coins or finest-known coins.

Jeff Garrett

Type coins in general are all great values. Many now trade for lower levels than they did decades ago. The only caveat is the coins need to have great eye appeal. Even an MS 68 coin with dark toning is hard to sell.

Bob Green

Finest-known coins are always in demand by seasoned buyers. However, the only potential liability in this area is the rising populations over time that may dilute the values in some cases. A Pop 1/0 is great until it becomes a Pop 4/1 from + designations, etc. From a supply-and-demand perspective, there is potential risk involved.

Kevin Lipton

Buying the best of any collectible has always proven to be the optimal way to go.

John Brush

CAC-stickered pieces are wonderful values. In general, I think that Top Pop pieces only fall into the radars of a finite number of collectors. While I think that the quality of these coins can be incredibly enjoyable, the “value” portion on these is a little limited due to the smaller number of collectors in this stratosphere. But don’t get me wrong, some of these coins go for crazy amounts of money and I think that if we look in 100 years, we’ll think they were incredibly cheap. If we look in 6 months, it may not feel that way.

Brian Timmons

18th and 19th century US gold and silver type coins with a focus on key dates in Top Pop. Next would be Pre-’33 gold/silver coins in the same condition.

Brian Hodge

Yes, no and it depends. MS 68, absolutely. MS 67, probably. These condition census coins are going to be amazing in the future, depending on type, rarity and so forth. I would love to have an MS 68 $10 Indian right now, for instance. I think that’s a no brainer in the future, or even an MS 68 $5 Indian or $5 Liberty.

Chris B.

I think “wonder coins” and finest knowns” are always a good value and money well spent. I dislike upgrading because I never sell anything — I figure that if I stick with “finest known” and/or MS 66 or higher, I am less at risk value-wise in case a hoard is discovered and hits the market.

James Sibley

I believe they are an excellent value today; the question is whether or not the market for classic US Type coins will be as liquid in the long term (10+ years); will there be enough collectors interested in US Type when it comes time to dispose of a US Type collection? But then again, as David Hall would tell you, these are “beach-front property” (but, if you listen to the climate prognosticators, the beach will be underwater).

Sadly for us, the Lincoln Cent production has ended this year. The coin and the series have a wonderful legacy, and most collectors of my generation were likely introduced to the hobby courtesy of this coin. That said….

Any Thoughts about the Lincoln Cent Moving Forward?

A 2023 Lincoln Cent from NGC Coin Explorer Click images to enlarge.

Jim Stoutjesdyk

I am certainly sad to see the Lincoln Cent go, since I was one of those kids who started off collecting coins by attempting to fill a blue Whitman folder with the “Wheaties” I could still occasionally find by searching rolls of pennies. They will always be “pennies” to me and not the proper term of “cents”. That being said, I’m one of those people who embraces change and knows that it is an inevitable part of life. So, I bid a fond farewell to my friend the Lincoln penny and welcome his new cousins of other denominations that will emerge in 2026 as part of the new coin designs for the United States Semiquincentennial (there’s that word again – learn it now and impress your friends!).

Jeff Garrett

I also started coin collecting with Lincoln Cents. In recent years, the State Quarters series seems to have been the gateway coin for the majority of new collectors. The US Mint has stated they will continue to make Lincoln Cents for Mint sets and Proof sets. So, they may be out of circulation, but not going away.

Bob Green

High-grade sets will become rare. Keys like the 1909-S V.D.B, 1922 No ‘D’ and 1955 DDO are in demand and will become super scarce and pricy in the coming years.

Kevin Lipton

Always popular amongst collectors. I have never been greatly involved.

John Brush

I think that it’s an error to continue to produce these in Proof sets, etc. I miss the cent, but frankly I never really liked the design after the Memorial was removed from the reverse. Generally, I think it’s a good move for the side of government to save money on that production…and from a practical standpoint, I’m fine with the lack of one-cent coins, but the numismatist in me does make me feel sad.

Dan Goevert

The Lincoln Cent has faithfully served the country, but after 116 years, it is time for retirement. This venerable coin now takes its rightful place of honor in the history of numismatics.

Brian Timmons

I had originally thought the series would be over and many would begin a set, and that may be what happens… The US Mint is going to continue making these in Proof/Mint sets, so the series isn’t really over!

Brian Hodge

I’m OK with it. It was time. And now let us all appreciate what once was. I think a lot of pieces in the series that were forgotten will go up in value from here.

Chris B.

Lincoln pennies were the first series I collected, aided by the blue Whitman holders. From there I started collecting the higher denominations (with the help, of course, of the blue Whitman holders). I will miss the Lincoln Cent series.

James Sibley

As you said, Jim, many of us got hooked on collecting in the ’50s and ’60s because you could almost fill a 1909-1940 Lincoln blue folder out of coins pulled from circulation. That was our entry level. Will we pull YNs into the hobby in 10 years without their ability to fill Whitman folders with later-date cents?

Wow, you won the Powerball to the tune of $500 million! What single purchase would you make? It can be numismatic or another collectible.

Jim Stoutjesdyk

I have a picture of myself holding a 1794 Flowing Hair Silver Dollar graded MS 66+ and CAC pedigreed to Lord St. Oswald that we sold as part of the Simpson Collection. I always tell people that’s one of my dream coins. It would be fun to show people that picture — and then actually pull out the coin and show it to them!

Jeff Garrett

I love coins, but I would probably splurge on a Ferrari! They are so beautiful.

Bob Green

I’d purchase commercial real estate for generational wealth transfer to children.

Kevin Lipton

I would have bought the Klimt that just sold for more than $200 million.

John Brush

I’d try to complete a set of coins from 1792 to present of the highest quality possible. That would be a lifelong journey, but a ton of fun.

Brian Timmons

The coin industry is about to go on a ride if I won $500 million! I believe I would run a strategic bid strategy on pre-33 gold and Morgan dollars. If you want to make waves in numismatics, throw me in the pool with $500 million!

Brian Hodge

I’m calling the Smithsonian and deaccessioning the 1849 $20 for $50 million.

Chris B.

I would buy the US 1933 $20. Better yet, I would buy the WABAC machine from Mr. Peabody and Sherman — travel back in time to 1933 with my $500 million and buy everything.

James Sibley

I would buy a 1792 Half Disme in the highest Mint State condition available. Before the Fugio was recently concluded to be the first federal coin, these half dismes made from Jefferson’s silver were #1 (and perhaps have a better story).

That jolly old elf has granted a round trip passage to return to the year of your father’s birth. You will have $100 to spend. What items from that year would you secure and bring back?

Jim Stoutjesdyk

My father was born in 1941 so not an overly exciting year for numismatics. I would probably show up at the San Francisco Mint on the first day they began striking half dollars and finagle my way into buying 10 rolls of the very first 1941-S half dollars struck. No MS 68 coins have been graded by either major third-party grading service, so I would like to get the first one graded and have the pedigree “Papa Stouch” put on the holder in loving tribute to my father.

Jeff Garrett

My father was born in 1938. Maybe I could find a 1933 gold coin still floating around!

Bob Green

1932; $20 Saint-Gaudens Double Eagles. No brainer!

Kevin Lipton

Buy Gem Red Lincoln Cents from 1920s!

John Brush

1940: I’d look for 1930s Proof sets. Or a 1913 Nickel. Heck, maybe I’d find a coin shop to visit. Or the Detroit ANA show. I bet that event was a really revved-up good time!

Dan Goevert

My dad was born in 1934, so $100 would have had significant purchasing power during the Great Depression. Using the Newman Numismatic Portal, I found Burt’s United States Coin Book by Augustus W. Dellquest (copyright 1934, 1935), which showed that the estimated value of the prized 1870-CC Double Eagle was only $25 in Fine condition at that time (just $5 above face!!). With $100, I would choose the highest-grade coin I could afford and bring it back to the present, where it’s now worth at least $500,000.

Brian Timmons

My father was a 1955 model so I would find Blazing Red rolls of 1955/55 Lincoln Cent and purchase as many rolls as I could for that price.

Brian Hodge

So that was 1954. I wish you had mentioned my Mom’s birthday, because that was 1955 and I would have chosen the nicest 1955 Doubled Die Cent you could come up with.

Chris B.

1921 — I would buy as many U.S. 1804 Dollar coins as I can or, perhaps more realistically (haha), $100 of the best early U.S. $10 gold pieces I can find.

James Sibley

That would be 1917, and I would load up on 1917-D Obverse Walkers, uncirculated of course.

What are your mild or bold prognostics for 2026?

Jim Stoutjesdyk

I predict a continuation of the broad-based demand we saw in 2025 for rare coins, bullion, and all types of collectibles, with prices continuing on their upward trajectory. I think silver could reach $85 to $100 an ounce and we’ll see gold break the $5,000 an ounce barrier. So buckle up and hold on tight, I think 2026 is going to be another wild ride!

Jeff Garrett

I think 2026 will be one of the best years ever for numismatics. The 250th anniversary of the United States will bring a lot attention to our country’s history and the role coins played. Gold and silver prices and record stock levels should provide plenty of fuel to fire the market. Strap your seatbelts for next year!

Kevin Lipton

Should be a great year with the 250th anniversary. The Mint will be offering many fabulous new products.

John Brush

It’ll be the most exciting year of coin collecting since the Statehood Quarter launch. These new issues created by the US Mint are beautiful and I can’t wait to see them in circulation. The CCAC or the US Mint will figure out that the earth is backwards on the Green Lantern DC Comic coin before it’s issued. Having seen the final version, I’m not sure that they were paying attention.

Brian Timmons

Metals higher, and market even stronger!

Brian Hodge

My prediction for 2026 is that it should be very good. The 250th anniversary of the Declaration of Independence should prove to be nostalgic and important, and I think it will bring a lot of interest into coins where it maybe wasn’t seen before.

Chris B.

For entertainment purposes only, I think there is a good chance we will see silver at $80 and gold at $6,000 by end-of-year 2026.

James Sibley

I’ve been wrong every year since I began participating in your annual survey, Jim. I could not imagine, let alone predict, the intense competition and the associated increased cost for the best coins. But now, with the US dollar at its low (the Euro was a buck eighteen when I was in Italy a couple months ago), the federal government printing money faster than ever (are we really adding a trillion dollars to the debt every 3 months or so?), the Fed’s inability to put the genie back in the inflation bottle (a 2% goal, 3% officially and probably more than 4% in reality), and the world in turmoil (when will that guy Putin ever, ever go away?), I’ve come to be a believer. It only took five years, but I now see why folks are putting money into hard assets, although I wonder whether or not the buyer who paid $9.12 million in last month’s Heritage auction for a Superman #1 will ever get his money back. So… I’m doing a flip flop: 2026 will be as good as every other post-COVID year. (Now, with my prediction track record, some of you might consider liquidating your collection, NOW!).

Again, thank you to all the contributors for their insights! My fellow coindexters, due to a fortuitous quirk in the calendar — with Christmas and New Year’s falling on consecutive Thursdays — my next report will be on January 15 in 2026! Wow! January 15th, the 15th annual review and the 15th also happens be yours truly’s birthday — a marvelous numeric double-header! Stay tuned for the exciting second installment!

Until next time, be safe, happy holidays, happy new year and happy collecting!

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