The embattled rare coin and stamp collection firm has been through a torrid time but its index of investment-grade coin prices showed healthy gains in 2015.

The market for collectibles – fine wine, classic cars and artworks – has sometimes given investors cheer when mainstream markets have struggled, and the rare stamp and coins firm Stanley Gibbons will hope that new data will lift some of the gloom after seeing its own share price tumble in recent months.

Stanley Gibbons' GB200 Rare Coin Index for 2015 showed a 6.2 per cent increase on 2014. This translates into a compound annual growth rate of 11.4 per cent over the last ten years.

The UK-listed firm’s Rare Coin Index is a snapshot of the market for investment-grade coins, with a sample of 200 rare British coins, with values taken from the independent Spink catalogue of English coins.

The values are updated annually and are based on aggregating global auction realisations.

The performance of such collectibles would appear to be far superior to that of Stanley Gibbons’ own share price. Over the past six months, shares have slumped from 165.5 pence per share to 18 pence (source: London Stock Exchange). The firm has been beset by a number of problems, including a difficult market for collectibles last year. On 23 February, it announced fundraising plans of around £13 million – from an originally-planned £10 million. The fundraising plan was announced as the firm warned the market about its profits. Proceeds from the equity issue are to be used to reduce its borrowing. 

In its 14 March statement, Stanley Gibbons said: “The directors, who have also explored other funding options, believe that the fundraising is essential to the company as it will enable it to repay the short-term loans that have been made available to it by its bank since 30 September 2015, when the company experienced some unexpected and difficult trading conditions and circumstances, and will provide it with the additional funding, which, together with the company's core borrowings, will ensure that it has adequate financial resources to execute its development plan.”

On 23 February, when it issued a profits warning and declared its need for fresh capital, Stanley Gibbons also said: "The group has continued to experience lower revenues throughout the business, with sales of rare collectibles to high net worth clients being at a lower level than expected and trading being particularly difficult in the interiors division. Additionally, the integration of recent acquisitions has still not achieved the level of cost savings that is required and there has been continued investment in the online platform. As a result of these factors, the board now believes that for the year to 31 March 2016 the group will report an adjusted loss before tax of between £1.0 million and £2.0 million."