The Meb Faber Show - Better Investing The King of Coins & Collectibles - Van Simmons | #624
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Mar 27, 2026 Van Simmons, numismatist and pioneer of modern coin grading, led PCGS and built a reputation in high-end rare coins. He traces market shifts from new hoards to premium high-grade pieces. He talks grading’s role in liquidity, how AI and tech change authentication, and why collectibles like coins and watches can preserve wealth and attract institutional interest.
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How Modern Grading Standardized The Market
- Grading standards evolved from the Sheldon 1–50 scale to the 1–70 mint state system, and PCGS standardized holder-based guarantees in 1986.
- That move professionalized the market, reducing grading disputes and enabling wider trading.
Gold Price Rise Reduced Common Coin Premiums
- Rising gold prices increased supply of lower-grade coins, compressing premiums on common pieces while preserving premiums for high-grade examples.
- Van notes $20 St. Gaudens and many circulated golds now trade much closer to melt unless superbly preserved.
Drums Of Gold Found In European Furniture Company
- Van describes finding 50-gallon drums of $20 gold pieces in a European furniture company's basement, showing how businesses historically took payments partly in gold.
- These hoards persist in Europe where distrust of paper currency preserved stockpiles.