Bleak future for our pastime ?

I'm sure this is true. Even so, we have weathered the storm quite well.

Personally, I have not seen this; perhaps others have. It's harder to buy nice coins right now than it was two years ago. Availability is lower. The nice coins that do pop up usually have overly strong price tags.

 

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It doesn't make collecting fun when you sell a 3/4 complete set of Franklins that you spent your time and money trying to complete to a dealer and he pops them out of the folder into a bucket on the ground full of silver that's on it's way to be melted.

 

Actually, yes, that is where most new collectors are starting, thanks to the State Quarter Program. Think about it, a quarter today buys less than a cent did 50 years ago, so it's not surprising that most collectors will collect them easily and cheaply enough.
Guy

 

It has not always been a mass market though. You couldn't find folders and albums in the 1860's and there were only four or five dealers in the whole country.

There are lots of newbies now and if we don't drive too many off telling them perfect coins are worthless then the hobby should be fine in the future.

 

Coins and related paper goods are not the only ones affected by the economy. Gemstones are in a similar "bed" as numismatics. There, we have our scammers and counterfeiters also. Not only are artificial stones, such as ruby and sapphire manufactured to such perfection, that their lack of defects often are the things that label them manmade. There is the similarity to AT of coins, in gemstones, many if not most of the colors not seen before 1960 are now generated by irradiating them ( much in cobalt 60 facilities in Pakistan, but in other countries also) such that the stones change color. Topaz was a very rare stone in blue, until it was found that radiation can make them blue. Now go to Costco or Walmart and look at all of the blue topaz. The jewels you see on HSN are like the coins seen on similar TV shows, almost worthless.

But one thing that Gemology has more of than Numismatics is professional classes and training. From actual college campus classrooms to online courses leading to respected certification and degrees. Check out this free online course and translate it into your mind as if it was dealing with coins rather than gemstones.

http://www.bwsmigel.info/

You can also take the course for college credit, and there are others.

Just a couple of days ago , a newbie pops into the gem forum and wants to know how to become a rare gem dealer. Does that sound familiar? He though he could travel around the world to buy rare gems from " unknowing" native people and then come back and sell for tremendous profits. It was explained to him that he needs a tremendous amount of knowledge and training or he will end up buying trash and losing his shirt. Ask our service men who buy rare gems in Irag and Afghanistan.

Without strong and continuing education, numismatics will suffer badly. ANA is trying hard, but it is time for formal education and degrees/certificates to do so also. I am surprised that PCGS or NGC corporations do not purchase an on-line education company and do this.

 

The last show I attended (my first too ), the Santa Clara Coin Convention, there were only a couple of kids (7-18). Including myself I saw a total of maybe 4-5 kids. There may have been more, but most of the time my eyes were glued to the coins

I think our hobby may slow down as the baby boomers pass on.

 

the hobby is still going, but is changing. You don't find many wheats in change but someday more people will pull the copper cents out of circ just like the silver coins of years ago. I think the real money makers are now the grading services (mainly NGC and PCGS). The chinese fakes are probably the biggest threat to the hobby.

Once the sophmore collector gets burned a few times on fakes they may just give up on collecting. Or they will go to strictly slabbed coins. (of course the slabs are faked too).


Lack

 

So it's like a hidden hobby....LOL

 

This internet forum, and others of all stripes, have increased social interaction, not decreased it.

One can still talk to people face-to-face about coins. Get together with a friend, attend a coin show, join local and national clubs and attend the get-togethers... just like old times. Nothing has changed... except the internet as augmented our interaction. Things are better than ever.

 

Fair enough... show me some nice bargain-basement 1875-S 20c MS65s. I'll be all over 'em.

 

The Scouts can get some kind of badges for coin collecting still.

 

The sky isn't falling. Everything always improves . . there may be setbacks . . but everything always improves.

 

In contrast to the OP, I see many more collectors enter the hobby due to the internet. I know I lost a lot of interest but then when I was able to learn and acquire ancients it rekindled the old lust. I am simply bored of US coinage, but the internet was enabled me to more easily chase a more esoteric area of collecting. I would imagine you would see the same from people in lightly populated areas having more access to good coins now, rather than the local coin shop.

I think brick and morter shops will continue to find harder times except as wholesale buyers, but for true collectors I think its a great time. What Doug referred to was a market adjustment where too many "investors" and speculators got involved. That happens from time to time, but I think typical collector coins don't feel much pain and usually they are the first to come back in price. I have an AU 32s quarter I know went up and has now come back down, but I got it 20 years ago and have $30 in it. Long term true collector coins will come back and hold value pretty well.

If someone is concerned about prices, dollar cost average into coins. Spend X dollars a month, and you will buy cheaper coins when prices are high, and better coins when prices are low. Same as investing.

 

Yes, investment grades have fallen a lot. Cyclic nature of the economy. Coins are luxury items too and subject to the whims of buyers.

 

Than's for that link Desertgem, it looks VERY interesting.

 

I agree, sorry I didn't check out the link before. I have always been fascinated with gemstones, but knew just enough to know that I should stay away from spending real money without further knowledge. Thanks Desert.

Btw what forum are you referring to Desert?

 

That's just time passing. In 1960, everybody started by collecting wheat pennies out of circulation, so every kid in America knew about 1943 steel cents. Nowadays, everybody starts by collecting state quarters, so only the folks who are "serious" enough collectors to have bought a Red Book will know about steel cents--you sure won't see them in circulation often enough to learn about them that way.

Just think...in 2060, we'll all be fretting about the kids who don't know that there ever were state quarters. I wonder what they'll be collecting by then...?

 

Prepaid debit cards? They are a huge collectible in Europe as they are used as currency there.