Will coin collecting fall as precipitously as stamps? Will it be the cashless society we are becoming that does the hobby in, or the exploiters in the hobby that drive away potential collectors. Except for coins with real historical value or rarity, will our holdings end up being worth little more than their metallic content? Will coins unless slabbed and certified be sent to the smelter? Will slabs be bought and sold on an exchange. Will it be the prevalence of over-grading, counterfeiting, or artificial toning that deters newbies? Is there any hope at all? ...........LOL
Is global warming real? In the 70s it was all about global cooling. Things ebb & flow by nature so just stay in the boat and all will be fine unless the crew tries to feed you soilent green then jump overboard
I don't care what it is, I only believe in collecting things that were not made to be collected. I collected stamps years ago and particularly enjoyed postal history, covers that actually carried news or something in the mail and what we called Philatelic Classics. Most people collected stamps made to be collected even buying stamps that were never even sold in the country they claimed to represent. Coins are the same. Most collectors have no interest in a cent that could be bought for one cent but seek out slabbed proofs unlike anything ever spent. I collect ancients but define a coin as any coinlike item that ever sold for its face value. My wife collects bells - one made to ring, not ones that say 'souvenir of....' on the side. There are hundreds of other things that hold interest for someone. Coins will not go away even when the last government stops making them for spending. The collecting hobby will change. None of us really know how it will change but I expect the incorrect assumptions I made when I started in the 1950's will be matched by another set of changes by the time the youngsters out there are seniors. There was a time that a collection was considered better if it had more different coins not a higher Shelton number average. The hobby as you, or I, practice it may well die but someone will collect in some way so I expect coin collecting will last longer than the opinions we have about it.
I understand what you're saying, and agree for the most part. The main reason for my post is that I would hate to see my coin collection end up like my father's stamp collection, although unlike stamps, many coins do have some intrinsic value. My father died with an unwritten understanding that his stamp collection be given to his grandchildren. It is a large collection and they, (my sons and my sisters daughters), have been holding them for twenty years not sure what to do with them. Very few stamp dealers around anymore and those that are want a large fee to do an appraisal.
Numismatics will go where you and those like you will drive it. Of course you'll fail if you give up. On the other hand, if you realize the amazing power of the Internet to reach and inform vast numbers of people who would never have been exposed to collecting otherwise, you'll be pretty optimistic about the future. There will always be the studious type of mind in which numismatics will find fertile growth. People will always run across odd coins which pique their fancy, and want to learn more. And now they can find places like this, populated by experts who can answer their questions in almost-real time, with a simple Google search. One used to require serious motivation to break into coin collecting, as information was fragmented and difficult to come by (how would you have known there was even a book published on your interest, much less where to find it, when you first had to go find someone who was already an experienced collector?). No longer. One reason why numismatics won't go the way of philately (example): There are 828,000 US coins currently listed on Ebay alone, and 600,000 World coins. The business is a bit bigger than you think. Optimism, and the willingness to act on that optimism, is key.
Not much one can do when making 3200.00 a month and your monthly bills total close to that. Most people are a bad car transmission away from debt. It is all wrapped up in the rich peoples pockets, islands, extensive car collection and major investments. Stop sending it to the bottom, the bottom cant spend it. Sad too, things like coin collecting are awesome... I think this is why GOLD and SILVER coins are the way to go. In the worst of times, these are very valuable...
Most stamp collections are like coin collections: accumulations of common junk go begging; yet they served their master with years of enjoyment. For those who were specialists, more discerning, or got lucky, the modest fee for an appraisal will be worth it. These days with the Internet (plus how the objects are stored/mounted/written up), most educated (can read) humans can tell in a very short time if they are dealing with junk or treasure!
I don't wish to get into a discussion on this but IMO I'll bet there is the same amount or more listings for stamps (in total) on the net than coins. The attendance at stamp shows I've been to lately FAR surpasses all but the largest coin shows.
They kinda already tried this back in the late 80's. It caused a huge bubble and subsequent crash in a matter of a few years with the pcgs embroiled in a major lawsuit.
I only have 1 stamp in my collection cuz I think it's funny. It's a purplish color with a humorous biplane that's flying upside-down
Certainly, numismatics has been trending downward in recent decades despite the popularity of the state quarters. I suspect numismatics will still be a casual hobby for many more decades, just not as popular as I would like.
I don't believe it has trended downwards at all, if anything it has probably grown. The market and prices have trended downward but that is expected in hard economic times. If anything the hobby is just evolving. Coin shows will probably trend downward and continue to do so as time goes on but the internet market is quite strong and as the demographics change more business will move to the web. Why spend thousands on travel and a hotel to get things you could get if you just sit down at the computer for a few minutes and put that money towards more coins?
You could be correct. I am basing my claim on what I heard Q David Bowers and other numismatic legends say. Currently, I think there are about 2,300,000 U.S. coin collectors of all levels which is less than 1% of the U.S. population.
To be honest I don't think anyone has a clue how many people actually collect. Most collectors don't advertise it and it is no longer necessary to be a member of clubs or groups in order to get information from the web. They may be basing it off of membership to the ANA or something of that nature or just a complete guesstimate based off demographics as I am hard pressed to come up with a methodology that would give a truly accurate result. Someone could easily quietly collect with internet purchases for years and no one would have a clue that they were
I have an interview with the bogeyman today. I'll let you know his opinions right after our conspiracy theory seminar.
