Enjoy unlimited access: just £1 for 12 weeks

Subscribe now

The move comes after the brothers resigned from the auctioneers Spink earlier this year. Stephen Hill, 33, had spent 15 years at Spink where he was associate director responsible for English milled coins. Paul, 29, is a specialist in ancient Greek, Roman and Byzantine coins and was at Spink for five years.

Noble Investments, who recently engaged the services of Nicholas Bonham as chairman, was established in 2003. Last year they became a member of the British Numismatic Trade Association.

The firm’s interim results for the six months up to March this year showed an increase in turnover for the half-year from £151,000 to £909,000. Operating profit was also up to £65,000, against £6,000 for the corresponding period for 2004. Over half of the turnover was made through supplying the numismatic trade, although the client base includes larger number of professionals, banks, independent financial advisors and collectors.

Noble may also be set for further expansion when the government’s pension reforms come into effect from April next year. This will allow investors to include coins and other works of art in their personal pension schemes. There is speculation that the new pension rules will lead to coins in particular being used as investments, since the sector has greater liquidity than other areas of the art and antiques market.