The State of Coin collecting amongst youngsters?

Well, we all know that most coin collectors are not young. This poll is just to see what percentage of coin talk members are under 25.

 

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20 years old here.

 

You put this poll up to late in the day. Most of us old folks are in bed by now.

 

So far us youngsters are dominating

 

those are a little too big of gaps, maybe go by every 10 years and then have a special one for our senior citizen of the decade, OldDan

 

The question is how many of the young now who seem disinterested will indeed become collectors later in life with a zest.

 

Coin collecting is not for those living from paycheck to paycheck.

Perhaps a more meaningful poll - if the idea is to find out how the hobby is likely to fare in this century - would be "How old were you when you began seriously collecting?" with shorter brackets than the current poll. (In my 74th year I feel much more chronologically attuned to Old Dan than I do to the 50-year-old kids of whome there seem to be so many here. )

 

That leads to the question, whatdo you consider "seriously" collecting?

Someone can be a serious collector and buy dozens of coins compared to someone else who buys one coin.

 

I do indeed!

But let me just qualify that a bit. I think almost all serious collectors concentrate their interests on coins they have the financial werewithal to acquire - whether that is merely the ability to set aside part of their pocket change without impacting their ability to feed their families, or the ability to bid strongly at major auctions. As that ability grows, frequently so does the collector's involvement in the hobby.

In another forum a Japanese collector recently commented that in Japan he sees few young people at coin shows. He himself is under 50, probably under 40, but he is a doctor, and although they are not as highly compensated in Japan as in the US, they are firmly in the upper echelon of Japanese society, and generally have significant amounts of discretionary cash.

From what I've seen of my own kids (one of whom is in her late 40s) and those of my friends, today's youngsters with plenty of discretionary income are frequently the yuppified ones who are too busy with making money (and demonstrating to the world that they have it) to involve themselves in hobbies requiring study and effort. As they grow older, that changes, and I firmly believe that despite their current lack of numismatic interest, they are indeed the vibrant future of this hobby of ours.

I suppose I'm a case in point. As a struggling young attorney, I managed to set aside pocket change - frequently silver in the mid-late '60s - but by Doug's definition I was most assuredly not a serious collector. Many years later, when I retired, I went back to those coins stuffed in the back of a cabinet and "got serious". My interest in Modern Japanese coinage had its origin in the pocket change I had accumulated during my residence there during the Korean War at the expense of our mutual Uncle Sam, and on subsequent trips - but it took retirement's combination of free time and available funds to develop and expand on that interest.

Bottom line - I'm convinced that the future of our millenium-old hobby is more secure than ever.

 

The way I look at it is our society is changing. Our Mint is changing. The art or hobby of coin collecting is vanishing. It will soon enough be similar to stamps, beanie babies, baseball/footbal cards. There will still be some of each in the near future but I forsee an end to this recent boom in coin collecting. Just as with stamps, our government is producing just to much of a variety of coins which is nice for a while but will make it so there are just to many of each to collect and so it gets shelved. You can already see it at coin shows. Hardly any YN's. At coin stores, no YN's. At flea markets around here where there are coins for sale, no YN's. Nowadays there is just to many other interest such as TV, computer games, computer interenet open forums, IPODs, CD players, DVD machines, etc. for the younger gereration. Why do things that don't respond or move when there is so much else that does for the younger generation. And many adults are somewhat responsible. I'm sure that many people that go to coin shows have a child or grandchild but no one brings them. Interest should at least attempt to be started at home.

 

I don't know that coin collecting will go ever away as I'm guessing just here in the US there are a few millions, who knows how many Worldwide, but I do admit there has been a decline over the last few decades...

I think thats partly to blame on the Parents.. For the most part, I don't think we spend enought time with our kids anymore... We are to busy working to keep them in House, Food and Clothes and other crap and then we want a little of our own time... Doesn't leave much for them...


My daughter and I (Shes 10 I'm 32) have recently gotten into coin collecting and we are really enjoying it.... I try to spend a few hours a week with her... Last night, while her Mom watched Sophranos (I watch it too), the lil one and I sat at the Dinning Room table a and went through our Penny Jar digging for Lincolns...

I could not beleive it... We filled every spot in a Whitman Folder of (Lincoln Cents 1975 - Present) except for the following 10 Coins:

1981 (no mint mark - Philidelphia)
1982 (all 7 types)
1992 (no mint mark - Philidelphia)
1997 (no mint mark - Philidelphia)

and we started on a Whitman (Lincoln Cent 1941 - 1974), which overlaps with our (1909 - 1973 Lincoln Cent)... But you can never have to many coins as far as we are concerned...

She is saving her allowance and next week, she wants to buy a Mint set of 194x Mercury Dimes we saw at the Coinstore as well as some more 2x2s to put her nicer coins in and another Whitman for Nickels I think...


This weekend she had a few gilfriends over and I overheard her showing off some of her coins... Supprisingly, the other lil ones sounded interested and said they wanted to get some old coins... So, I'm thinking of buying a few more Whitman Penny Folders to give them and a Big Bulk bag of Supposedly unsearched ""Wheaties"" for them to all dig though and see who can fill the most dates and get the oldest cent....


I think I have an few extras from 1909 (not VDB) to 1920, I was going to spike the bag with and tell them whoever finds the oldest coin gets a Silver Dollar or something... Maybe one of those new funky 10.00 Bills...


I think each of us as collecters, should start helping to promote to Hobby... I know I've got a few of my office co-workers collecting now.... Both Coins and Bullion...

 

Way to go! My daughter has gotten silver American Eagles for every tooth from the tooth fairy. She is extremely proud of them and her State quarter collection. Every time someone new comes to the house she shows them off, and her guests are genuinely interested.
I'm a woodworker and combine framemaking with proof sets and give them as gifts to our friends at church when they have new babies. Most of these are young couples and most have purchased later year sets. It is a good thing to encourage and spread this hobby! Just my two cents.:mouth: Sgklee

 

I'm one of the collectors who don't have much to spend but have a good amount of knowledge to share. I'd consider my knowledge to be "above average", collection to be around below average to average. Nothing fantastic but there are some decent coins (all that was for people my age +/- a few years).

 

Just thought I would throw in my perspective. I am 25 and just started looking into coins about a month ago. I have very little disposable income. And so far I have spent more on coin books than on coins. I think I am drawn to coins mainly as a vehicle to save money for the long term…
but being as I don’t know any one even close to my age that is interested in coin collecting, I guess my question is what keeps the prices of certain coins up? Is it simply because they have a low mintage and people want them? What happens when all the old guys start dieing off? There kids go through and start selling off all the hordes off coins? No new collectors, means no new demand, means low prices. As I see it, once this happens then the coins are mostly just worth there metal content.
Maybe I am wrong. I hope I am. But if you guys are not around to want my coins who will be?
Do I only want an expensive coin because it is expensive? Do I just hope that at some point someone will want it more? And pay more?
I do appreciate the history, but what makes a person pay $15,000 for $10 worth of silver? When that exact coin with a different minuscule mark can be picked up for $12?

I looked up coin dealers in my area on mapquest and it found 30 with in 25 miles of me. Of those 5 are still open. Is the hobby dieing or is it just a bad time for the economy?

I still have a lot of reading to do, but it seems the more I look into coins the less safe it looks. (like beta tapes. No one bought them, because no one they new had one)

 

Another question: Those young collectors (teens, early 20's), what's it like being a collector? I'm in my teens and whenever I get the rare opportunity to go to the bank, I get looked at like, "Why the hell would some kid be here except to rob us?"

 

I find coin stores to be worse than banks, even after I buy something.
The guys always watch me way to closely and seem anxious to get me out of the store.

 

:smile Yeah- I definately get that too. I just switched banks to get rolls recently and when I put my halfs up to the counter the teller looked at me and then at the halfs and started telling about how I should save halfs beore 1970 because they have silver-they don't see too many YNs too often there.....I guess it's not that bad that she tells people that, it might get someone interested in the hobby...But I get the real looks when I go to the bank after I cash in my halfs to deposit a wad of 50 dollar bills-you can tell that they're a little suspicious.
I just have to say that I LOVE the hobby, and I know that more people will get involved and feel the same way, and I'm sure there is a new wave of collectors that will be coming into the picture soon. Bill-14 years

 

It can be odd at times, that's for sure. At the monthly coin show in town I used to get stares all the time like I was there to snatch a coin with the 5 finger discount. After going for 5 months straight they started to realize I was a serious collector and knew my coins well. One guy even complimented me on my attitude and the way I handled business. The one that got me was "Damn, wish there were more people like you". If I like a coin and see a problem with it, I'll throw them an offer. We'll go back and forth but 90% of the time we both walk away happy.

The bank really doesn't bother me. They are used to me going in and exchanging roll after roll of halves and cents. My favorite teller knows I'm a collector and if he has something old/odd/etc in his drawer he'll let me know.

 

Either your store is in a Bad Area or, You got the wrong Coin Shop...

They need to treat you better than that, its not like they have 2-300 customers a day droppin lots of cash... They are lucky if they get 10 people spendiing a 150 ea and one guy dropping a Grand or more....

I went though a few of those like you mentioned and then I found this local store called Dianna's Vault, its just a little place, but the guy that runs/owns it is awsome... Rick I think is his name...


Everytime I go in there, he takes a lot of time to show me stuff and he is working teaching me how to grade or what to look at that makes it a different grade...

Last time I was in there aftere I had spent my cash and told him I was broke, we chatted for a long time still... Then we got to talking about Proofs and ""Type"" coins... He asked if I had some time and broke out some of his own personal (not for sale) coins... He handed me a binder full of pages his personal stuff...

As I was looking thought it, someone called, while on the phone, he said, I'll be back in a sec and went into the back... He left me there with his coins.... Then he came back and showed me some other stuff he was collecting....

I usually spend over an hour in there.... Everytime I buy something, I go look it up and I never find it for a better price... Sometimes the same, but not really any cheaper... Especially if you gotta pay shipping...

Then there is another place I go thats a lot bigger and nicer, they aren't as cool as he is, but they still greet me and ask If I need any help.. When I say I'm just lookin around to see whats new., they back off till I'm ready too buy something... They cut me a few deals on stuff too...

So, if you frequent a few places, strike up a convo and talk to the shop guy, respect his time and spend a few dollars, after a few times, they'll recognise you and you'll be a regular and they'll start treating you well.... That is, if they deserve your cash...