Are my assumptions correct?

@myownprivy

Go to a coin show and you will get an answer to your question. They are fun, you will like them.

 

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Yep, and you'll get all the authoritative data you need, Jim's protestations to the contrary. There is absolutely a "coin type" of person. Is it exclusive? Of course not, but it's a trend. In fact, it's an ongoing running joke at the Chicago Coin Club.

Oh, and Jim (@desertgem), I couldn't give a rip less about url's if I tried. The Internet is not yet worth all that much.

 

Coin shows are an accurate demographics of coin shows, not of collecting as a whole.

 

The biggest assumption is that bullion interested individuals do the majority of buying and selling at such shows. I strongly suggest for your consideration , that the largest amount of transactions and interest occur via online transaction, and the recollections, presented as proportional to actual total, by older people who might spend several hours in travel to attend a coin show are a lop-sided statistical number.

 

Are you suggesting that our Millennial metrosexual friends represent a significant part of the physical bullion market? Gee, the evidence suggests they're too busy searching for error cents, which are not, after watching a few too many YouTube videos.

 

The problem with your statement here is that coin SHOWS, live coin AUCTIONS, and coin CLUBS all share the IDENTICAL demographic trends.

I do think I know what you're getting at - the Internet only crowd. I just don't accept that it's that significant. And to the extent it exists, it is phenomenally under-educated. "Sheep ripe for shearing."

 

All that proves is that those are the people more likely to go to live in person events. There are far more collectors today that don't go to any of those things than do. The online market is huge and larger than the in person one, and I can assure you it isn't the coin show crowd doing all of the buying or even the bulk of it online

 

See above. #26. Baaaa.

 

The internet market is far more educated than coin forums give them credit for. There are some who aren't or get greedy and make bad decisions, but that happens at shows and shops as well so it's no different in that regard.

However, the internet market really is that huge. Everything sold on eBay which really is almost certainly the largest coin market by volume is internet only, the auction houses with the exception of maybe Legend sell to more buyers with no in hand inspection first than ones that went to see it in hand making it an internet only transaction ect. There is a very large essentially internet only crowd who may dabble with a show here and there if it's convenient but will not travel or cancel plans for one and the younger collectors are almost exclusively internet only

 

Funny, when I peruse eBay, I usually see mostly "Buy It Now" listings that close out without an offer. Yes, I agree that most of the ATTEMPTS to sell are online, but the sell-through is a big disappointment. I filter eBay to show me "Auction Only" listings, but even that is mostly crap I wouldn't bid on if you paid me. The exceptions keep me coming back, but they're just that - exceptions.

 

While driving my Hybrid (40-60mpg avg) around I heard on the radio those annoying ads to convert your 401K to Gold bullion (and get $1,000 worth of silver for free) to a Gold IRA and store in your very own house.

Essentially, don't forget about the PM stackers that never venture into a LCS or Coin Show, and pick up the phone to do their PM stacking.

 

And every one who does is being taken by a scam, too. All they are selling is a brochure on a theory that doesn't work.

What you're confirming is there's the live segment and the "dumb as a bag of hammers" segment.

 

Yup, in another thread I posted the IRS statements and rules on that .. custodian, etc etc.

I wonder what they tell you over the phone on how to correctly keep your 401k at home ?

 

It's more of a BIN site now than an auction site. It's still the largest even though they have driven a lot of people away trying to have shipping requirements that meet Amazons standards for sellers without them footing any of the expense and the whole buyer is always right nonsense. They play games with who can see what and the order listings appear as well which hurts people's sell through rates but no one has successfully gotten enough of the market to challenge them yet.

 

Probably a whole lot of a disclaimer how it's up to you to properly follow the laws and they aren't liable

 

Are you even allowed to withdraw physical PMs from an IRA? Don't you have to convert them to FRNs before withdrawal?

 

I fall into the demographic popularly referred to as millennial. I have a post graduate degree in engineering and I lead a healthy and active lifestyle.

I also do the majority of my purchasing online. It seems that the majority of people interested in a hobby that requires a significant amount of disposable income would not be particularly likely to be undereducated and ill informed. Just my personal observation.

I should qualify the above with the fact that I'm a collector not investor and do not focus on bullion (though I do have some because I enjoy owning it).

 

Maybe Swiss francs?

 

You are a politician, I am a scientist, You can assume in your profession from 1%, I need 99% ( for .01 level of error) in mine. Exactly what "evidence" are you suggesting in possibly misjudging a huge number of individuals mentioned above?

 

And if your avatar is any clue, you're into ancients, which is cool as heck.