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Invest Like a Czar with Imperial Russian Antiques

Invest Like a Czar with Imperial Russian Antiques

As an antique investor, I’m constantly on the lookout for the next big thing.  Well, I think I’ve found it.  I’ve already written an article about investing like the Russian Gokhran.  But if that doesn’t interest you, maybe you should invest like a Russian Czar instead!

Imperial Russian antiques are tangible reminders of a glorious, but doomed empire that had a population of 170 million subjects and covered almost 1/6 of the world’s landmass.  Fine antiques from the Russian Empire have always been popular among collectors, but the recent 100th anniversary of the collapse of Czarist Russia has sparked renewed interest.

Pre-revolutionary Russia is a fascinating place and time in human history.  The Russian Empire was headed by the glamorous Romanov Dynasty during this period – a family that has entered into popular mythology over the past century.  The personal triumphs and tragedies of the Russian royal family have been recounted countless times in books, movies and television since the overthrow of the monarchy in 1917.

The history of the Romanovs reads like a fiction novel.  The dynasty first came to power in 1613, after the tumultuous Time of Troubles – a period in Russian history punctuated by famine, political infighting and foreign invasion.  However, the establishment of the Romanov bloodline put an end to this chaos, ushering in their 300 year reign as the nation’s autocratic rulers.

The Romanov Dynasty ruled over a Russia that was still largely medieval in its administration and outlook, even into the 19th century. For instance, the Russian Empire only emancipated its serfs (peasants tied to land owned by the aristocracy) in 1861.  Unlike Great Britain and other Western European nations, Russia’s aristocracy lacked the counterbalance of a rich and powerful industrial or mercantile elite.  As a result, the aristocracy’s power was only effectively checked by the authority of the Czar and his administrators.

The end of the Russian Empire is all too familiar to students of history.  Imperial institutions, while originally dynamic and vital, gradually became ossified and ineffective over the centuries.  The Romanov monarchs systematically resisted any attempt to meaningfully curb their power or reform the government.  The Russian State Duma, a rudimentary parliament of sorts, was belatedly established in 1905.  But the Russian old guard could not abide sharing power, rendering it a token institution.

World War I was the final nail in the coffin for the vast, but teetering empire.  Widespread food shortages and a series of military setbacks strained the Russian people to their breaking point.  The Romanovs sat secluded and unaware in their lavish palaces while political and social chaos swirled around them.  Finally, the last Czar, Nicholas II, was forced to abdicate on March 15, 1917.

For anyone interested in investing in Imperial Russian antiques, I have good news.  There is a multitude of aesthetically pleasing objets d’art for the savvy connoisseur to choose from, many of them rendered in gold, silver and precious gemstones.  And while prices are usually somewhat higher than for comparable antiques from Western Europe, given the Russian Empire’s romance and history, they are well worth the cost.

The first Imperial Russian antiques I want to showcase are Czarist era silver and gold coins.  The Russian Empire’s main currency unit was the rouble, with kopeks acting as the equivalent of cents.  Denominations from the tiny 5 kopek coin to the substantial 1 rouble coin were all struck in silver.  Gold coins were struck in 3 rouble, 5 rouble, 7.5 rouble, 10 rouble and 15 rouble denominations.

These attractive coins feature the head of the reigning Czar on the obverse and the iconic double-headed Romanov eagle on the reverse.  Alternatively, some coins have the denomination surrounded by a legend or wreath in place of the Czar’s bust.

If you are interested in collecting these compelling Imperial Russian antiques, I suggest that you stick to the higher denomination silver coins or the gold coins.  The larger silver coins like the half-rouble and rouble are impressive mementos of Czarist Russia and are the most likely (among the silver coins) to appreciate in value.  Any Imperial Russian gold coins are highly desirable and there is always strong demand in the market for these covetable pieces.

Imperial Russia even struck platinum coins for a brief period from the late 1820s to the mid 1840s.  These unusual pieces were the only platinum coins ever intended for general circulation in history.  Unfortunately, they were not popular with the Russian people, who were not familiar with platinum as a precious metal.  As a result, few of these platinum coins were minted and they are very scarce and expensive today.

One caveat when buying high value Imperial Russian coins is to watch out for fakes.  Because they are in perpetual demand, a significant number of counterfeit specimens have been produced over the decades.  In order to avoid this pitfall, I strongly recommend that any Czarist Russian coin you consider purchasing with a value of more than $100 be certified by a third-party grading service, either NGC or PCGS.  This advice applies doubly for gold and platinum pieces, which are the most often counterfeited.

Jewelry is another category of Imperial Russian antiques that is well loved by collectors and investors alike.  Even though it was heavily influenced by contemporary Victorian and Edwardian stylistic trends, Czarist jewelry has a uniquely Russian look.

For example, Imperial Russian jewelry often incorporates native Russian gemstones from the Urals or Siberia.  This includes fabled gems such as green demantoid garnet, reddish-purple Siberian amethyst, glowing Baltic amber and vibrant nephrite jade.

Imperial Russian jewelry also often employs fantastic enamel-work, especially guilloche enamel.  This is the translucent, luminous enamel that the renowned Faberge workshops were famous for.  Cloisonné enamel – opaque enamel where different colors are partitioned by thin metal strips – was also a specialty of 19th and early 20th century Russian jewelers.

Like most Imperial Russian antiques, Czarist jewelry is in very high demand.  This has driven prices up considerably over the last few decades.  At this point, it is difficult to find anything worthwhile for less than about $1,000.  And the sky’s the limit on the high-end of pre-revolution Russian jewelry.

Any overview of Imperial Russian antiques would be incomplete without mentioning Czarist silverware.  It is some of the most beautiful antique silver produced in pre-World War I Europe.  A fine silver flatware or tea set was de rigueur for any respectable pre-revolutionary Russian noble family.

Antique Russian silver is normally found in two different finenesses: 84 zolotniks and 88 zolotniks.  The zolotnik fineness standard originated in medieval Russia and was gradually phased out after the Russian revolution.  96 zolotniks is pure silver, meaning 84 zolotniks is equivalent to .875 fine silver while 88 zolotniks is .917 fine silver.  Occasionally high end antique Russian silver was made from 91 zolotnik silver, which is 94.8% fine – purer than sterling silver.

Imperial Russian silver often relies on a handful of characteristic silversmithing techniques.  The first of these is bright-cut engraving, where a design or scene is shallowly cut into the otherwise plain surface of a silver object.  The second technique commonly encountered is cloisonné enamel, something Imperial Russian silver has in common with Czarist jewelry.  Finally, niello, a blackened alloy of sulfur, silver, copper and lead, was often inlaid into antique Russian silver as a contrasting decorative element.

Czarist era Russian silver is highly desirable and almost always sells for a premium versus other antique Continental European silver.  Very little good material can be found for less than around $200.  Nonetheless, pre-revolution Russian silver represents a superlative way to invest in Imperial Russian antiques.

Czarist Russia represents a lost, almost legendary, way of life in which nobility and royalty lived carefree lives of sumptuous excess while factory workers, peasants and soldiers wrestled with the drudgery of everyday life.  We might not have wanted to live there ourselves, but it sure is amazing to be able to peek inside their world.  Luckily, Imperial Russian antiques give you that rare (and lucrative) opportunity.

 

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A Set of Mid-Century Modern Gilt Sterling Silver Danish Teaspoons

A Set of Mid-Century Modern Gilt Sterling Silver Danish Teaspoons

Photo Credit: serendipity1884

A Set of Mid-Century Modern Gilt Sterling Silver Danish Teaspoons

Asking Price: $157.04 (price as of 2018; item no longer available)

Pros:

-Mid-Century Modern is on full display with this luscious set of 6 gold-plated, sterling silver Danish teaspoons from the 1960s.

-These Mid-Century Danish demitasse spoons measure about 4.1 inches (10.5 cm) in length and weigh around 10 grams (0.3215 troy ounces) each.

-These sterling silver teaspoons are hallmarked “W&S. Sørensen”, which refers to the Danish silversmithing company Horsens Sølvvarefabrik.  This firm was founded in 1904 by the Sørensen brothers, Sofus and Winter.  While small at first, Horsens Sølvvarefabrik eventually became one of Denmark’s largest, most respected silversmiths.  The company is now part of the Scandinavian cutlery maker Gense.

-These lovely gilt sterling silver Danish teaspoons would be the perfect way to impress your friends at your next intimate gathering.  They would pair wonderfully with after-dinner coffee, tea or dessert.

-This particular Sørensen silverware pattern is known as “SOS12” and was produced in the 1950s and 1960s.  It is still possible to find silverware other than teaspoons in this pattern, so if you wanted to buy these wonderful teaspoons as a starter set and add to it later, you could.

-Scandinavia is renowned for its alluringly minimalist, streamlined design aesthetic.  And these gorgeous, Mid-Century Modern sterling silver Danish teaspoons certainly live up to that reputation.  I love the contrast of the smooth gilt bowls against the subtly geometric decoration on the handles.

-This set of W&S Sørensen demitasse spoons comes in its original box, which also appears to be in excellent condition.  This is no mean feat considering these sterling silver Danish teaspoons are now at least 50 years old.

-These scrumptious Mid-Century Modern sterling silver Danish teaspoons are the kind of antique you buy as a family heirloom.  Continental European silver is a solid long-term investment, and with an asking price of only $157, this set is no exception.

 

Cons:

-These Danish silver teaspoons are fairly small and, consequently, don’t weigh very much.  With the spot price of silver at $15.50 per ounce, this set only contains about $28 in bullion value.  You are definitely not buying this set for its silver melt value.

-These Mid-Century marvels originate from France, so the shipping costs might be unpleasantly high if you live in the United States.  Etsy quoted me a charge of $29 to abduct these Danish treasures from the heart of Europe.

 

Read more fascinating Antique Sage spotlight posts here.

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Are Vintage 1980s Collectibles Investment Worthy Yet?

Are Vintage 1980s Collectibles Investment Worthy Yet?

It’s no secret that the hottest part of the antiques market in recent years has been Mid-Century Modern, with its sleek lines and uncluttered decoration.  And this trend got me thinking.  Are vintage 1980s collectibles – complete with angular aesthetics and luscious neon colors – investable yet?

It is a loaded question.  The 1980s is only about 30 to 40 years ago at this point, so it doesn’t quite reach my personal definition of antique yet.  But although such labels used to be vitally important distinctions in the antiques trade in times past, they hardly matter anymore in the modern era.  What sells, sells, and what doesn’t sell, doesn’t.

I understand and embrace this philosophical flexibility.  I’m interested in identifying items that are destined to reliably appreciate in value in the future, regardless of when they were produced.  In fact, I’m not above recommending contemporary pieces of art or jewelry as investments, provided they are well-executed and priced right.  I call these modern tangible assets “future antiques” because I strongly believe they are destined to age into desirable antiques after a few decades have passed.

But where does this leave vintage 1980s collectibles?  They are on the cusp of becoming antique (just another 10 to 20 years to go), but aren’t quite there yet.  In the end, however, it doesn’t matter.  Regardless of their age, they are on the verge of a massive breakout, both in terms of popularity and price.

Now I want to make it clear that I’m only talking about very select vintage 1980s collectibles, not all of them.  For example, vintage 1980s pop culture items like your Care Bear lunch box or your G.I. Joe motorized battle tank might hold a special place in your heart, but they are highly unlikely to ever be investment grade pieces.  The same goes for 1980s comic books, baseball cards and Alf memorabilia.

This is where the Antique Sage’s 5 rules of investment grade antiques come in handy.  These rules allow the layman to quickly separate common collectibles from high end antiques that will have superior future appreciation potential.

Vintage items that are portable, durable, scarce and high quality inevitably become more desirable over time.  The 5th and final attribute on this list is zeitgeist, or how well an item reflects the stylistic sensibilities of its era.

Because of these requirements, certain types of items – notably those made from precious metals, gemstones and exotic woods – consistently take center stage.  And this rule of thumb holds true when examining vintage 1980s collectibles as well.

For instance, vintage mechanical wristwatches have become increasingly popular over the past 20 years.  But 1980s mechanical wristwatches are still largely overshadowed by their more well-known 1940s, 50s and 60s predecessors.

In the late 1970s to early 1980s, the Swiss-dominated mechanical watch industry suffered a near-death experience.  The volume of mechanical wristwatches sold plummeted worldwide, almost driving the entire industry into bankruptcy.  This event, known as the Quartz Crisis, was due to the introduction of cheap and reliable quartz watches in the mid-to-late 1970s.

One of the little-appreciated side effects of the Quartz Crisis is that high quality (read: non-Swatch) 1980s mechanical watches were produced in much smaller quantities than mechanical wristwatches in earlier decades.  This increased scarcity isn’t readily apparent in the vintage watch marketplace yet, but is bound to reveal itself sooner or later, thus driving up prices.

In addition to increased scarcity, some vintage 1980s wristwatches practically define their era, exuding tremendous zeitgeist.  Two underrated examples are the classic Must De Cartier tank dress watch and the rugged Seiko 6309 diver’s watch.  Better yet, many fine 1980s era mechanical wristwatches are still relatively affordable, with prices of often just a few hundred dollars each.

Vintage 1980s bullion coins are another category of collectible that is rapidly coming into its own.  After a massive run-up in the price of gold and silver during the 1970s, national governments (which had previously shunned the precious metals markets) decided that it was better to profit from widespread public interest in precious metals by striking bullion coins.

The Royal Canadian Mint got things started in 1979 when they first struck the 1 troy ounce gold Maple Leaf coin.  The United States followed a few years later in 1986 with the American Gold Eagle series of bullion coins and its twin, the American Silver Eagle bullion coin.

Great Britain followed up with its Britannia gold bullion coins in 1987, as did Australia with its Gold Nugget series in the same year.  Mexico, a prolific silver producer, minted silver Libertad bullion coins from 1982.  Even China joined the club with its iconic gold Panda coins in 1982.

Now, under most circumstances bullion coins should trade like…well…bullion.  But special proof versions of these vintage 1980s bullion coins are becoming increasingly popular with farsighted collectors because of their beautiful designs, near-perfect execution and substantial intrinsic value.  As an added bonus, proof versions of these vintage bullion coins were never over-issued, unlike 1980s commemorative coins.

I’ve already featured a couple fine vintage 1980s gold coin proof sets in the Spotlight section of my site over the past few months.  One is a 1985 British gold sovereign proof set and the other is a 1987 Australian Gold Nugget proof set.  Although the $3,000 price tag for each set might seem like a deal-breaker at first, it becomes much more palatable when you understand that they each contain around 2 troy ounces of pure gold.  In effect, you are only paying between 10% and 20% over the spot price of gold for these magnificent 1980s coins.

I’ve only covered a couple vintage 1980s investment grade collectibles categories here.  There are many that I’ve omitted due to space and time constraints, such as vintage 1980s fountain pens, jewelry, hand-poured silver bars and art prints, just to name a few.  There is an investment grade 1980s collecting niche for everyone.

Let’s face it.  Vintage 1980s collectibles are on the cusp of being discovered.  Prices for these under-appreciated, retro-chic investments are low today, but I don’t expect this state of affairs to last for long.  Don’t say no one warned you.

 

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Artisan Hand-Crafted Sterling Silver Earrings

Artisan Hand-Crafted Sterling Silver Earrings
Photo Credit: cutterstone

Artisan Hand-Crafted Sterling Silver Earrings

Asking Price: $176 (price as of 2018; item no longer available)

Pros:

-Artisan hand-crafted sterling silver earrings have never looked so good!  This gorgeous pair is complemented by faceted blue zircons and purple freshwater cultured pearls.

-These hand-crafted sterling silver earrings measure 1.875 inches (48 mm) long by 0.625 inches (16 mm) wide.

-Cutterstone jewelers is a husband and wife team based in Calimesa, in Southern California.  Cutterstone has been selling on the Etsy platform since 2010.  The husband, John, has been cutting gems since 1975 and repairing/crafting jewelry since about 1990.  This considerable experience is evident in the outstanding quality of every piece of Cutterstone jewelry.

-These hand-crafted sterling silver earrings have had been cast in a carved cuttlebone mold, giving them a uniquely organic, wave-patterned surface.  Cuttlebone casting is an ancient jewelry making technique that uses the bone-like internal structure of cuttlefish – a cephalopod that is closely related to squids.

-The purple pearls set in these earrings are almost certainly Chinese freshwater cultured pearls.  Chinese freshwater pearls, while undeniably beautiful, have been mass-produced in recent decades.  Although relatively common today, China’s ongoing struggle with water pollution makes it an open question whether their rivers will be able to sustainably support a commercial pearl industry in the future.

-A cuttlebone mold is always destroyed in the jewelry making process, ensuring that only a single example of any particular cuttlebone-cast jewelry can ever be made.  These artisan hand-crafted sterling silver earrings are absolutely unique, which makes them very desirable.

-I have had my eye on these earrings for a couple years now.  They are so compellingly beautiful and modestly priced that I simply cannot believe that someone hasn’t come along and snapped them up already!

-Zircon (ZrSiO4) is a highly under-rated, natural gemstone that comes in a dazzling rainbow of colors; reds, yellows, browns, greens and blues (usually heat-treated) are all possible.  Zircon is not only a relatively hard gem (Moh’s hardness of 6 to 7.5 versus 7 for quartz), but also sports an exceptionally high refractive index (about 1.9 to 2.0 versus 2.42 for diamond), which grants it tremendous sparkle and eye appeal.

-Rather than spending $50 to $100 on a pair of generic costume jewelry earrings, it makes a lot of sense to splurge on these one-of-a-kind, hand-crafted sterling silver earrings instead.  At $176, they are hardly more expensive than most costume jewelry, but have the potential to appreciate in value over time.  And you’ll look fabulous wearing them in the meantime!

 

Cutterstone Hand-Crafted Jewelry for Sale on Etsy

(These are affiliate links for which I may be compensated)

 

Cons:

-The intrinsic value of these hand-crafted sterling silver earrings is relatively low.  I estimate that the zircons are worth about $20, the silver around $10 and the freshwater pearls $5 or less.  Even using optimistic assumptions, these earrings have a total intrinsic value of no more than $35 or $40.

-Purchasing contemporary jewelry as an investment is always fraught with risk.  While antique or vintage jewelry is generally safer from an investment standpoint, I believe that carefully chosen, artisan-made new jewelry can be a stealth investment.  In fact, I wrote an article on this very topic, focusing on a marvelous, hand-made Cutterstone pendant that I purchased a few years ago.

 

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