Numismatics is a dieing hobby

Good point. One huge advantage of a lot of modern coin collecting is a lot of it has innate value. Bottom line, without collector value a stamp and a baseball card is a piece of paper. A ton of modern commemoratives are still silver regardless of lack of collector demand. This innate value I believe will retain collectors, since they will always be valuable, and lets be honest, people always pay attention to something of value.

I do believe these modern collector coins are our modern day "junk silver" effectively. Many will be melted at some point when collector appeal wanes. Looks at things like US commemorative like Washington half dollars and Statue of liberty sets. Way too many for collectors, so many have been/will be melted. That is ok with me though. This just means more silver will be available for minting new coins.

 

Log in or Sign up to hide this ad.

I think the hobby is a live and well. It may be at a high point because of all the baby boomer's still involved, but there are always plenty of positive signs about the enthusiasm for the hobby, including young people. Part of the problem as I see it, unless it can be put on a smart phone, tablet or PC, it's a stagnant segment of our lives. So much of what is growing out there is due in part by the connection with the Internet and the Internet will not replace a coin, only better the experiance and man I have seen and experianced that. Just like the packaging industry, the Internet is not affecting that like it is the newspaper and magazine industry.

 

"...by the number of..." but let's not get too picky.

 

I think the hobby has a lot of life left in it. However, we really need to begin producing coins of value. That means $5, $10, $20, $50, and $100 coins with some PM content. You start making high denomination, low mintage circulating coins like that and the hobby will explode (imho).

 

I agree with higher denominations like $2 and $5 coins. Same as the dollar, though, if you do not remove the bill the coins will never circulate. This is true around the world, I do not understand how our politicians are so completely dense.

As to PM inclusion, I would say no. Mexico has done this repeatedly, and when PM jumps it hurts the economy to a far greater extent than any benefit received. PM is simply too volatile to be included in coins anymore.

 

Still...I would love to start a collection of 0.5 Oz, 90% silver $100 coins...LOVE IT!!!

 

Not saying I would not love it either. I am just being pragmatic and saying tying our economy to market fluctuations on PM does more damage than good. In a way, though, the ASE, AGE, and APE program allows us to do this. I always wondered if there would be a market for a coin like the ASE that is issued above PM value. Would collectors like a $100 1 ounce silver coin? In one hand, it would cost us more than an ASE today. OTOH, you are simply trading a $100 bill for a $100 coin, and can always spend it.

I am sure there are reasons why the ASE is not $100 denomination, but would love to hear other's thoughts on the idea.

 

I collected coins as a young kid, but when I turned 16 and the world of motorcycles and girls were open to me... well, I stopped collecting coins and starting collecting things like motorcycle parts, speeding tickets and, ahem, other conquests... (all boiled down to a matter of priorities...)

I was in my early 30s, when I finished graduate school, got married, and started earning a real income, that I rekindled my coin collecting interests. I then united that passion with my other passion - science and research, and am trying to bring a little science to my hobby, publishing several papers in the Canadian Numismatic Journal. I think numismatics is alive and well, it has just evolved from the 'hobby of kings' to a fascinating world of varieties, errors and registry sets... from my perspective, the hobby could not be at a better place, then the present time.

 

To me the coin hobby is strong and has been for some time.

You won't get that feeling at a live coin show because we now seat at our computer and BST.

Currently on Ebay 548,231 coins, not counting bullion coins. Then you have Heritage, Teletrade, Great Collections, U.S. Mint etc. etc. The hobby is alive and kicking...have at it.


As far as age, I collected from apx. age 8-14. Only bought 5-6 coins, the rest we got from change(pre '65). Got interested in girls and my collection went in the closet. Yadda, yadda, yadda, out for apx 30 years raising a family...NO COINS FOR ME !!! Started back when I took my nephews to a coin shop to get some holders for the new 1999 statehood quarters....I was hooked...again. Not from the statehood quarters but from the Lincolns in his case that I now could afford.

By the way, I'd much rather go back to 1964 and go through bank rolls than shop for coins on Ebay. Nothing like opening rolls and getting wheats, Buffalos, silver nickels, Mercs, silver Roosevelts, SLQs, pre 1940 Washingtons, WLs and Franklins. Those my friends were the good old days...:thumb:

 

ChiefbullsitBy the way, I'd much rather go back to 1964 and go through bank rolls than shop for coins on Ebay. Nothing like opening rolls and getting wheats, Buffalos, silver nickels, Mercs, silver Roosevelts, SLQs, pre 1940 Washingtons, WLs and Franklins. Those my friends were the good old days...:thumb:[/QUOTE]

Boy do I remember those days. The whole basis for my collection when I started (again) 4 years ago was the pulls from rolls back in the 60's and some pretty neat stuff my dad gave me.

 

I have been hearing that coin collecting is a dying hobby since I was a young poke back in the mid 1970s. Stamp collecting sort of did poop out, but coin collecting is a long established hobby that will adapt to the times and the collectors.

 

As I have mentioned before, I have been collecting for over 40 years now. During that time I have been a member of several clubs and over those forty years these clubs have either stayed steady as to membership or have grown, and over those forty years the average age of the membership of each has changed by less than one year. That average age has been 55 - 56 years of age. At least in the near term I do not see coin collecting dying.

 

Disclaimer: This isn't a political statement nor meant to be. Read into it what you will...

Is it that PMs are fluctuating...or is it the dollar?

I understand that the dollar is stable (or strengthening) relative to other, falling currencies, but don't PM fluctuations (in dollar terms) really reflect fluctuations (real or perceived) in the dollar?

True...imposed fiscal discipline (some PM standard) can be painful from time to time, but I'm not sure if removing discipline altogether produces a more desirable result (in economic terms).

If we put $10 of silver into a $100 coin, that may be viable for 10 years or so. I agree, at some point, we will need to re-balance the content...that's when we put "arrows at the date".

 

I started when I was about 8 and collected very casually until I hit high school. I'm 24 now and have been actively collecting for the past year and a half or so and don't see myself giving up the hobby anytime soon.

 

hmmm

50--100 at a show when a member of the jersey shore signing autographs would bring 5000 is a sign that coin collecting is not dying but not popular by any means as well.......now i don't know if that means anything as I am not sure it was ever extremely popular with young people.....when I was young it was me, myself, and I in my age group that liked collecting coins.

 

I understand the point, but it doesn't matter. If the economy is without currency because of whatever reason, the damage to the economy would be measurable. Why risk that just so a few coin collectors can enjoy the coins? Even worst, tying damage to your economy to a mine disaster halfway around the world, or someone trying to corner the market, etc. Too much risk for me, though i would love the coins as well.

 

Jersey Shore shouldn't bring anyone that young!

 

As long as the seigniorage (minus wear) is greater than zero, we're pretty much GTG. The US government will only redeem for face value. Once the "arrows at date" coins come out, these will disappear rather quickly (Gresham's Law).

Btw, these coins would be for the support of commerce...not for the enjoyment of coin collectors.

...but I would certainly enjoy them!

 

haha, nice. I agree 100%