IMHO coin collecting is still an entry level hobby. That's how most of started, culling through change of our own or our parents/grandparents. But, and this is most important, if you tell kids or even adults that if they only collect the best of everything or it will never be worth anything, you change the meaning of entry level. All newbies can still buy modern coin folders and look for change to fill the spaces. When they get better at their hobby and start making their own money they can leave the entry level and buy better coins. Then come the more expensive albums and better date coins in better condition. You only eliminate an entry level hobby by thinking you must start at the top and not work your way up the ladder. And there are so many series of world coins that have both beautiful designs, history, low mintages, reasonable prices that it boggles the mind.
Coin Collecting has become big business. It's too expensive for the youth and the millanions (sp?). It's for companies that have a lot of people out there striping collectible coins from collectors that are in it for the joy of having certain coins that are researched and worked on. At one time, the average Joe/Jane was able to get coins that were MS. Now they have to settle for Good or Fine or sometimes XF, but when an AU or MS coin is available for auction, the first bid will be $1,000 just to know the 14 year old coin collector out of the market and to stay away from auctions. In time, young and even middle age collectors won't go to an auction because they know Big Business will knock them out of the price in auctions.
That's really not accurate at all. No it's not for companies, it's always been to expensive for youth as anything but change costs money, there are PLENTY of MS coins anyone with 20 bucks can get, no AU or MS coins don't start at 1k, no big business is not driving auction prices
If new collectors leave the hobby the companies will lose business and the market will drop. The fall of the market will lead to much lower prices (and vice-versa). Lower supply means higher demand. Meaning the more younger/new numismatists we have, the more expensive coins are gonna get. That's just how things are not only in numismatics but in every major hobby that involves collecting tangible items.
True, I don't see many YN's looking to fill up an album of seated dollars or trying to collect all Overton varieties. IMO it's actually best to start off cheap; not only in numismatics but in all collectible hobbies. Once a YN reaches a more expendable income, they have the knowledge and experience as to what they want to specialize in. That's one of the best parts of numismatics, that you can pick your price range whether it be $5 a week or $5000 a week and still assemble a nice collection. That's not a luxury we have in many other hobbies e.g. militaria or car collecting.
Exactly. I never get why people act like somehow its new that young people cant just go out and buy whatever they want for the hobby.
Its basically like everything in this World/ it depends on what you have $$$$$ to spend. Some have way more then others.
do you think the person buying your house (hypothetically speaking) for 1.2 mill, in 30 years will get 5 million dollars for it???..i think prices will cap off eventually..i noticed this with my own situation, me Da' died and left me with a reverse mtg and 220k to pay (not counting hossie bill for 200k) to keep it, they said in 5 years projected value this same house would be worth 450k and no problem selling it, yet mkt value of house is 265k????
I don't know anyone else who is even the slightest bit interested in coins...hard to believe it's popular.