Why are US coins so collectible?

I'm just curious as to why US coins seem to be the most collected/sought after. There are so many coins from around the world that put US designs to shame IMO. I'm also a US collector too, funny part is why? Were we brought into the numismatic world via US coins so that what we collect? Could it be that the PM in US coins is more pure than other countries? OR do I have to much time on my hands.

I'd like to hear what others think about this.

 

Log in or Sign up to hide this ad.

I think it's only natural that natives of one country are routinely drawn to the coinage of their homeland. When was the last time you searched rolls looking for Euros?

Chris

 

Very true Chis, but it seems that US coins are also collected by the rest of the world too. I'm sure someone in europe would be head over heals to get a roll of wheat cents, or a morgan and so on. Also, why are our coins so much more expensive in most cases. From a historical perspective, I could purchase a coin from the crusades for less than $200 and a 1909s vdb is $2000? I understand this a really broad question. It is just something I have often wondered.

Thanks for the Reply Chris!

 

I know I collect because I can relate to the history associated with them. And they're something that has been present in daily transactions my entire life. Although I agree with you that many other countries have superior designs, I am drawn to U.S. coinage because of the reasons stated. And I'm not sure as fact, but isn't the largest population of coin collectors reside in the U.S.? If so, demand would make U.S. coinage the most popular.

-LTB

 

I would not say we have many more collectors really. For some reason US collectors have been very narrow in our collecting interests, possibly due to our geographic isolation. In Europe or other parts of the world, most have thousands of years of coins to collect, and are frequently exposed to other nations coins routinely as well. The US has never had this, so our collectors tend to become devoted strictly to US coins.

US coins are so extremely overvalued its not funny, but that is supply/demand. Thats fine, I am happy spending my smaller sums on truly historical coins, not just a slightly different date or mintmark on a coin I already have 300 of.

 

Most coin collectors will start with, and/or focus on, coins from where they live. But in many countries, they look beyond that at some point, and collect other interesting pieces as well. By and large* US collectors tend to not do that; they focus on domestic issues. As for values ... well, if we had "American style" grades prices here, with such enormous discrepancies, I would stop collecting.

* Sure, some do collect non-US coins too. But the portion of those people seems to be much smaller among US collectors than among collectors in the world.

Christian

 

Yeah, if areas I collect had the same "super premiums" like most US coins do, I would stop as well. This is a reason I detest slabbing of ancients, one they are applying US grading standards to an area of numismatics that has had its own standards since before we were shooting turkeys, and second I am afraid that slabs will attract the "condition census" crowd.

 

Foreign coins may be cheaper, but you have to keep in mind that the average worker in many third world countries only makes about $100 annually.

Chris

 

I have a sneaky feeling thats whats gonna happen to ancients in the coming years. From what some here have told me, coins that went for $30-$50 are now $80-$100. Siliqua's especially.

 

Thanks for the heads up on that one, I've been thinking about getting into those.

 

I think part of it is that the US is a relatively wealthy country with many people who have a lot of disposable income. Collecting coins can be an inexpensive hobby, but as we all know, it can also be very expensive.
When you have lots of wealthy collectors, they will drive the prices up, especially for key dates from popular coin series.

Also I think coin collecting first became a very popular hobby in this country during the great depression. Coincidentally, this is when circulating US coins at the time were some of the most beautiful and striking designs, such as Mercury Dimes, Buffalo Nickels, Standing Liberty Quarters etc. I believe this added to the appeal of those series, and created great demand for them.

 

For me it's the history behind our monetary system, as well as the history of each individual coin.

 

So where are you heading in the coin world now? (I want to be sure I get a head start this time LOL)

 

Personally, I will always collect US coins. BUT, I think I'm going to branch out to world coins now for a couple of reasons.
1) I'm getting bored with the same old same old. While I still love Mogans, Lincolns and Merc Dimes it is becoming more and more costly. If something catches my eye, I'll still buy it.
2) I really love the history behind coins. I'm very interested in medieval history, having a collection of medieval is not nearly as expensive has having a complete collection on morgans for example.
3) I can make my money go much farther with world coins and still have value at the end of the day.

Why do I collect US coins? I really think it is because of tradition. When I was younger thats what we did and thats what we still do.

Thanks for all the great replies,
Mark

 

It's not surprising at all that coins from the Crusades era are not so valuable. For examples, coins from the Crusades era...

1) ...have only estimated mintages (if that), and a hoard can turn up of a certain type that can drop the value precipitously. This has happened frequently with ancient coins.
2) ...do not have dates or easily discernible lettering.
3) ...are difficult to authenticate and attribute, even for advanced collectors.
4) ...often have simplistic designs that seem to be interchangeable among countries. My Edward III silver penny from England, for example, looks quite similar to my Bishops of Anjou denier from France minted around the same time.

 

I understand your point completely. I'm looking at it strictly from a historical perspective. Being able to hold a piece of REAL history in your hand is just amazing to me. They came from a period of great turmoil which shaped the world as we know it today. Good or bad it is a huge part of European and world history. Coins like that and many others that are even older is history. The oldest coins we have in the US are babies in comparison.

This is one of the reasons why I asked the question originally. There are just so many reasons why we collect what we collect. As I said in my last post, I think for me I collect US coinage is strictly becauce of tradition. When my great grandfather started collecting coins, it was all that was available at the time. It would have been nearly impossible for him to have access to many world coins at all. Years later as the coins pass down thru the family finally to me, it is a US coin collection. I unknowingly keep that tradition going without giving it much thought until now.

 

It is something about The United States of America. Watch Antique Road Show on PBS, then watch Antique Road Show (The Originators) on BBC America. I was amazed at the much Higher premiums for American antiques, watches, furniture, OVER the British made despite the Brit's sometimes being 100-200 years older for the same style. Especially true in early, colonial New England furniture the highest premium of all! Seems that America is WELL thought of by the common person in the world (minus the politicians) despite what we have been hearing over the past few years, just my two cents worth!
Steve

 

Just like some other countries we value our history, and beauty/art in coinage and currency. Besides that, the US is one of the most educated countries in the world. I'm not saying other countries are uneducated but in some countries education takes a back seat to survival.

Oh the dimes not mine, but a man can dream! :hail: