Numismatics is a dieing hobby

And how many would come to an autograph signing 10 years from now? 20 years? In 1987 a baseball card show would attract thousands, in 1993 dozens.

 

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I love it when a thread multiplexes...

 

I don't think numismatics is dying. There are the bullion people who slowly get infected with the numismatic bug, like me. There are going to be lots of us because smart kids are figuring out that the only way to hold on to your money is to change it into silver. This will eventually lead to a lot of people who know something about coins, and they will start to branch out eventually.

 

2 words: state quarters

 

I don't think enough is done to actively engage more youth into the hobby and other reasons also contribute to numismatics being a dieing hobby. Although its not completely dieing out and hopefully there are many more YN"s being created everyday. In fact my wife is due tomorrow with our third child (finally a boy) and he'll eventually be added to the numbers of YN's; joining his sisters who absolutely love numismatics. Here's a little photographic inspiration that the hobby isn't doomed, it just needs to be marketed towards children better. In fact children love coins and I firmly believe getting them involved at a young age will create a life long passion and refresh the hobby.

 

Don't forget it's how you analyze the collector base. Lets say for simple math, 1% of the population collects currency. As the population grows, so does the amount of collectors... 100 people x .01=1 person. If the population doubles it's 200 people x. 01=2 persons. Remember, for classic coins this means twice the demand for a fixed number of pieces. What about age? Years ago the average age was between 0 and 65, now it's between 0 and 75. The increase in life expectancy skews the average age higher. So it appears we have older collectors, per 100 people, while the 1% of the population remains the same. Until someone shows me math that supports their claim, I think it premature to say it's a dying hobby.

 

well more people leaving means more coins for all of us!!!!!!!!!!!

 

Cute kids! I don't have any, but do my best to inspire through church, etc.

I'm the guy that buys the circulated rolls on eBay for next to nothing and gives them away to the kids. I've never met a 6 year old that doesn't like a Buffalo nickel just because it has an acid date.

 

You have to do a scientific study to draw conclusions like this, otherwise you really don't know.

I certainly don't think it's dying. As others have stated, there appears to be many young numismatics on this forum, including myself. And I don't find a shortage of coin buyers. I've been trying for about a year now to get a certain coin at a decent price and always get outbid by someone willing to overpay.

 

This would be heckuva good idea... why is an ASE a dollar denomination anyway??? At $100 it would take a long time (if ever) for the PM spot to be more than face on it. It would be sweet to see a circulating $100 dollar coin!!

 

Numismatics is a dieing hobby


Good!

Then the prices on Bust $1/2 will drop.


And be easier to find & buy.

 

I agree, actually. I think it doesn't have anything to do with age - it has more to do with coins being more abundant and less valuable. When my dad was a kid (1940s - 1950s), different types of coins were found in abundance because they changed frequently. Let's face it - the Buffalo nickel lasted 25 years. The Jefferson nickel has lasted, thus far, 75 years... with the only changes occurring very recently. In my dad's time, you could go through rolls of coins and find stuff of true value. These days, it ain't so easy. (My dad said that, in 1965 when they converted the dime and quarter over to worthless base metal and the half over to a much lower silver content, the silver coins in circulation disappeared "almost overnight". Gee, I wonder why.)

The billions upon billions of coins minted in recent years (most of which are only worth face value) make it harder to find good stuff because they flood the market. Coin collecting requires much more patience now, even compared to how it was when I was a kid... which was still significantly different compared to when my dad was a kid! After all, what new collector really wants to have to look at coins from rolls under a high-powered magnifying glass in hopes of finding an error? To me, that's boring. It's much nicer to look at pennies and pick out the wheaties.

Honestly, if the Mint wants to make more coin collectors, they ought to release some VERY low-mintage coins into circulation without telling anyone first, and then a month or so later, do a press release on how these coins have been put into circulation. Suddenly you have more coin collectors, as they scramble to find the coins! At that point, maybe the hobby will stick with several of them. (Of course, it really doesn't benefit the Mint to have lots of coin collectors... or so it seems to me... so I would imagine that this hypothetical scenario has a very doubtful chance of gelling into reality.)

 

Not only is the age of collectors being reports to be rising, but as we move to a plastic payment system, fewer and fewer of people deal with coinage, and the coinage they deal with is viewed mostly as being clutter. In the long run, this must mean that coins will be less valuable.

Radar

 

I just read through this entire thread and there are a few thoughts that have been repeated that I have to disagree with.

1. As less hard currency is used the interest in collecting coins will decrease- many items are collected specifically because there are no more being made. Fossils, ancient artifacts, minerals, even toys from the 50's and 60's are still collected with prices increasing on most items. Artwork doesn't often increase in price until after the artist dies. I have never heard "well that artist is dead, no use in collecting his junk any more."

2. Issuing of an excessive amount of special interest sets by mints around the world will effect coin collecting like it did stamps, comic books and sports cards. (collecting of the truly rare items in these areas is still going strong by the way)- people that collect these type items were trying to keep up with "one of everything" where coin collectors for the most part focus on a specific set or type.

3. Less collectors means more coins and cheaper prices for me- This is only true until the number drops low enough that it becomes less hassle to melt them down for scrap than try to sell them piecemeal to the public. I personally don't see this happening.


The truth is that we probably will see a dip as the baby boomers start dying off in larger numbers but even that event will create new collectors as they leave their collections to be split among 4-5 grandchildren.

As the vice president of the oldest coin club in the united states I have had the opportunity to read through some of the old meeting minutes. The club was founded in 1860. I the late 1890's there was a proposal to dissolve the club as there were only 3 members left in the club. They instead chose to search out new collectors to beef up the membership and the club was saved. I am sure that further reading will turn up similar circumstances at various times throughout the history of the club. All hobbies go through cycles.

Richard

 

This thread again... really?

These are all assumptions and generalizations... no citations or proof.

 

I would love to go back to 1890 and join your club...as long as they accept .999 gold with "2008" stamped on it. I'll bury the coins I buy and leave encrypted maps for my relatives. Once AES encryption is invented, they'll find the treasure...no problem!

Note to Self: Take along plenty of PVC pipe, silicon tape, and desiccants. I can buy the canning jars and shovel once I'm there.

 

This argument remains ongoing, however, let me remind you all that 'old guys' is self perpetuating. Everyday, new 'old guys' enter the arena of collecting. Collecting will cease when 'old guys' cease to exist.......

 

...for them, anyway.

 

You too dear Yak. Ultimate demise poises like a sword of vengeance. We all succumb, but many more are waiting in the wings to pick up the standard......

 

Yep...I feel Detecto breathing down my neck.