GDJMSP

Hmmmm - two comments about coin collecting becoming something only the rich can do. Well I guess you'd have to define rich. But you not remember what they call coin collecting ?

The Hobby of Kings

So if it does come to pass - then I guess you could say it has come full circle. Of course it took 2000 yrs ( so far ) to do so.

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sylvester

Some coins will still be as cheap in the next hundred years as they are now, whether coins still circulate or not. Some coins have such high mintages, and other coins from little known places and isands will simply still not get the interest they deserve. Some coins will rise in value, but somehow i doubt you're average 1984 cent will be at the forefront of that.

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To reiterate Roy's words , 'a £0.01 coin is a penny, and not a cent, the UK have never issued cents'

Andy

This is a very cogenial discussion as well as a survey. I also noticed that the newbies posts are as interesting as our "experts". I like to think of those experts as my coin collecting friends and the more the newbies post the more they will feel as if they are at a friend's home as well if not already. If there are any lukers out there, please join in. I am sure that your viewpoint will make us all think as well.

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Prethen

In the near future (20 years or so), I don't see cash coming out of society. However, 50 years or so down the line, I see it could be a very logical move to get away from currency and coins. It's true that a huge number of transactions (likely, a large majority) use no cash at all every day. There's really only one major item (and I'm sure a lot of little ones can be thought of) stopping the pulling of all cash out of circulation today....personal transactions.

Now, imagine carrying a piece of plastic (much like one of your credit cards you own today) that "knew" you through biometric means (say, your thumbprint). Assume this piece of plastic as a simple interface that allows it to "communicate" with other cards that other people carry. Voila...you've just solved the personal transaction problem. To be honest, I think technically it can happen today. It won't. It will take decades of refining electronic transactions and perfecting the system.

Trading with bits of paper and metal are somewhat inefficient in a highly efficient, digital world. Yes, they'll go away. We're already seeing some of it happen now. When will cash go away...it'll take time...who knows. But, I think it's reasonable to see it really start to occur within 50 years or so.

Look at Europe. I understand they're doing more and more with micro-transactions (the same as we're trying to do here).

As far as coin collecting goes....well, I think we're toast (just personal opinion/gut feeling) when cash is no longer in everyone's pockets. No, the hobby won't die instantly or completely. But, I think it would definitely be in trouble. If people don't see the item on a daily basis, they typically won't be encouraged to collect it. A good example of this is the odd denomination coinage of the United States like 2-3-20 cent coins. Yes, they are collectible and sell at a premium but when comparing their mintages and survivability against nickels, dimes, quarters, halves, and dollars the odd denominations are a serious underdog. Why? When was the last time you saw a 3-cent coin in circulation? Most people don't even know about these coins, much less want to collect them (except for me and a few of you!). A similar thing will happen when NO denominations are in circulation.

I wonder if the Mint would actually still produce bullion coins if there were no more circulating coins. Maybe they would. If they did, then it might cause similar gold/silver coins from a bygone era to be highly collectible. Who knows?

National dealer

There are areas here in America that work on a cashless system. The US Navy has a program that works off of a credit card type of transaction. All monies earned are put into this account, and they spend without the aid of any type of currency.
While I see the trend leaning towards this, I personally believe that as a whole, people like to hold something tangible in their hands.
You have to take into consideration that people collected coins when many other forms of payment were still available. Hence the name "hobby of kings"

Andy

I for one think that the cash in hand will be gone. I agree with GD that alot of areas in our country are still a little bit isolated but I feel that will be gone in a generation. As ND pointed out the technology is already there for a national currency credit card. However, GD's comment made me think about how a lot of US currency is horded and used as cash payments outside of the United States by citizens of other nations. There must be far reaching economic implications with that and it will be interesting to see how the third world deals with the decline of hard Euro/US dollars if that does take place. As for the hobby/investment of coin collecting. The last time I looked at the map, there was no Roman Empire, no Ottoman Empire, and no Chinese dynastys listed. However, people still collected coins from those eras and past. So with or without the production of coins in the future, I think that there is enough diverse product out there to keep the interests alive and maybe even cause a boom or two every few years with different collections. Especially if people then react with a world without currency by driving up metals. Henceforth, the turning in of reserves by individuals or governments to be melted into bars or chains may take place. This would then thin the ranks of the silver and gold coins that are out of favor which would then make them scarce and perhaps more of a collectable item.
But what do I know I have a house built upon sand.

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GDJMSP

Yeah - but it's warm sand

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