Coin collecting is dying?

Never gonna happen. As American as apple pie........

 

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Where do I sign up to help, then?

 

Not true. Countless winners were willing to pay more. Auctions are dependent on who shows up that day. They aren't a "true price". They're sales data, the same as any sale

 

LOL

 

Exactly!

I once bid $1200 on a nicely toned 1883-CC Morgan, NGC MS65 using Bidnapper, but I lost it by $50. A couple of weeks later, another nice toner surfaced that was almost identical, again NGC MS65. I figured that $1250 should win with Bidnapper. When the auction ended, I was the winner at $511!

Chris

 

I know, right?

 

Most of my purchases are made through eBay and Heritage auctions, so the prices on those venues are what I consider to be the market price. In my limited experience at shows, my impression has been that the majority of dealers charge more for their material than what it could be bought for online, and that is because a lot of them are buying coins from the same sources as I am and marking them up.

Since my interests are very broad, I’m better off just buying online. The only value proposition I can see from dealers in today’s market is through specialization. For example, if my collection focused on early copper, then there would be a lot of thinly traded items that I may need, and a specialist dealer could be of help. That would make it worth paying a higher markup. But if I’m looking for a blast white classic commem or a Morgan Dollar, I’m better off with EBay or Heritage.

At the last show I visited, the tables that stood out were the ones that were most specialized. One had an amazing selection of high end colonials and federal copper, and another had an entire case of monster toned Morgan’s. There were some nice spreads of ancients and world coins as well. I’m sure all of those dealers have a healthy markup, and more power to them. That’s where I see the future of B and M stores and shows. As for me, however, the older folks won’t see me at any shows so I’ll be part of their statistic showing that our hobby is dying...

 

Then it is still the true price at that moment in that place. Prices of all goods are time and location dependent.

 

Just remember, the coin hobby has been populated with "old white guys" for over a hundred years now.

 

Yes, and they have ALL been convinced that the hobby was dying due to not seeing many youngsters at shows.

 

This is the problem. Most of the material I want is a fixed price. If they don't have make an offer as an option you may as well not waste your time asking about it. Just in the last month I've had two sellers completely ignore me and ended up buying the same coin from somebody else. This has happened twice. Had this one tell me NGC's online, regularly updated, price guide is off by $400 for an AU coin. Another one just gave a short rude response.

I have been on the selling side too. I try to see it from seller's perspective as well. I've attempted to sell some high value, non- coin items and it's a joke. People don't just expect a deal, it's got to be a steal and THEN you can take the 12% hit and pay the shipping. I've ended countless auctions and just kept items rather than dealing with low-ballers and taking a beating.

Short of playing the grading game, I don't know how dealers can come out ahead on online auction sites. That said, as a buyer I can't justify $800+ for a coin I would get low balled on for probably 3 or 400 if lucky with a fees hit on top of it. (I'm the only watcher on it.)
I'm not looking to profit off it. I just need to feel like I'm paying around a break even value for a purchase when I make one. Even willing to pay slightly more if I really want something.
I need to find the segment of the hobby that is dying. lol

 

I’d be willing to bet that most current collectors did not start until after they were 20. It wasn’t until later that they were settled down and had disposable income that could be spent on a hobby.

Now with so many students facing crushing student debt, this dynamic may change since fewer people will have disposable income for settling down, let alone hobbies like coin collecting. I’m fortunate in that I don’t have a single cent of student debt, but I’m in the minority.

 

I think most start either as kids (as I did) or in middle age when, as you said, they have some disposable income and all of their free time is longer consumed by their children.

Yes you are! We were determined to give our son (now 24) the gift of a college education with no debt. What's really nice is that he seems to truly appreciate what we did and understand the difference it makes. A lot of his college friends had student loans and he got to witness their angst firsthand.

 

I collected as a kid and kind of forgot about it. Then was at an antique mall one day and saw some coins on a shelf and the bug bit me again. It kind of slapped me in the face and I realized I was an adult now and could buy most anything I dreamed of as a kid. lol I bought a 1820/19 capped bust half. Still have it. I was 28 when this happened. Joined CT shortly after.

 

It seems like there are trophy fishermen looking to hook the big one, hook, line and sinker.
I have found that patience pays great dividends if you can wait and not settle. I have found that taking a table at coin shows helps sell items - you can never tell what will sell when. Hang in there!

 

The student debt crisis is going to affect more than we probably realize. Unfortunately, too many kids are going into heavy debt getting degrees that aren't worth the paper they're printed on. I'm the only person in my family to get a degree, and it helps in a single income household.

 

I hear you but I buck the trend. I started collecting as soon as I was old enough to know what a coin was. Silver was still circulating, in fact, it was still being minted. My dad introduced me at age 5 or 6. Been at it ever since.

 

This is getting a little off topic but I heard some mention recently of a proposed cap on borrowing for colleges maybe based on degrees. Trying to save people from themselves. When you have the government subsidizing so much it inflates the costs. No way to know what you should actually be paying for their services.
Theres no other type of loan that allows people to keep borrowing and deferring with no real collateral or income until they owe the equivalent of a large mortgage. The way its set up now is disgraceful.

 

I started at 8. Most every collector I know started before 10.

 

Same here.