YOUNG coin collectors in the age group of 25-35 are driving growth......
MilesWaits
Posts: 5,403 ✭✭✭✭✭
MilesWaits
Posts: 5,403 ✭✭✭✭✭
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PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>The title of this thread really caught my eye and a VERY skeptical "could it be?" resounded through my head..... the attrition primarily by way of death is is the single greatest problem facing Numismatics in the U.S. The number of true and serious collectors and professionals that we will soon lose compared to the number coming in is WAY lopsided. I am not including someone that buys a coin once or twice casually as new blood. It's possible that even if this doesn't change the rest of the world could pick up the slack but maybe not.
John >>
My exact thoughts too!
Responding to the OP's post....
India, most likely followed by China.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
However, it is great to read that 11 percent of eBay India in 2010 was coin related.
The best part of that article (for me), happens to be the last paragraph. Sage words :
While coin collecting can be a lucrative business, financial experts point out that it is an industry that is unregulated, lacks transparency and has poor liquidity. "I wouldn’t recommend an investor allocate more than 5 percent of their portfolio to old coins, it's just too risky," says Rohit Bhuta, Chief Executive Officer of Religare Macquarie Private Wealth. "The relative lack of transparency makes it hard to establish what and how much is out there. So I advise clients to treat them as a collector's item they get joy from, with the potential of a handsome return down the track."
Know your dealer, trust your instincts.
<< <i>Being 34 and collecting for 10 years I don't know how it has been in the past, but hasn't coin collecting been a gray haired hobby for a long time? >>
Although what little hair I have left is now gray, I started collecting coins more than 50 years ago, as did many of my young friends.
My local coin club works with the Boy Scout troops here to help them with their Coin Collecting merit badge.
Boy Scout Coin Collecting Merit Badge Requirements
One of the biggest mainstream investments has sucked for 12 years. Not counting inflation.
I guess I'll just go back to collecting my coins.
<< <i>I clicked on this thinking Miles was going to reward me with a giveaway for driving growth. Now I see it is not me he is refering to.
I guess I'll just go back to collecting my coins. >>
Consider yourself rewarded as you choose correctly and thoughtfully for the future and present!!
Miles
<< <i>Being 34 and collecting for 10 years I don't know how it has been in the past, but hasn't coin collecting been a gray haired hobby for a long time? >>
To a large extent; yes.
Older people are wealthier and perhaps more importantly older collectors are more knowledgeable
and have had more time to collect. They tend to work a few less hours as well giving them more time
for their hobby.
But this time is different. Collecting tends to be a life long pursuit. Where the influx of new young col-
lectors normally rises and falls with demographics in this particular case there were almost no new
collectors at all added to the ranks between 1965 and 1998. This period was already a very low
ebb in population growth so adding a very tiny percentage means the absolute number of grey heads
that will be around in ten or twenty years is going to be much much smaller than at any time since
the advent of coin collecting as a mass hobby.
It is to be hoped that the very large number of new younger collectors will be able to absorb all the
slack from retiring baby boomers. But the fact is coin conventions in fifteen years are not going to have
the high percentage of grey heads that they have now.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>in India. >>
Indian moderns have been exploding in price. Mintages were widely dispersed in most
cases and tended to be rather modest. Attrition has been among the highest in the world
as coins are used to make everyday consumer staples like razor blades. It's been only in
the last three years that people have awakened to how scarce most of these are.
This same thing is going on US and worldwide but the difference is that there are more than
a billion Indians suddenly finding themselves with disposable income and time to collect. It
simply affects one country after another but the fastest growing economies are mostly those
being affected first.
<< <i>I'm almost 30. I JUST got into coin collecting a few months ago. I'm in for the long haul now, and I have way too much left to learn. >>
Welcome to the forum and the hobby.
I like your preparedness.
<< <i>
<< <i>I'm almost 30. I JUST got into coin collecting a few months ago. I'm in for the long haul now, and I have way too much left to learn. >>
Welcome to the forum and the hobby.
I like your preparedness. >>
Thanks. The last few weeks I've been constantly just trying to soak up knowledge. There's so much to learn.
<< <i>I was in India about 5 years ago and brought back a few coins. Recently I've bid on a few modern commemoratives on ebay and was very surprised by the prices they've been bringing. It is definitely a sign of a growing consumer class. >>
There is still a great deal of opportunity in Indian coins. There are still numerous rarities
that list for a dollar or two each. It's very difficult to establish exactly which of the coins
are rare and which aren't but there are a lot of coins that aren't seen. The early republic
issues are mostly tough. The copper is seen in unc but is usually spotted. The proofs are
already up a hundred fold so these are riskier. They are rarely seen but tend to be nice.
Even the issues that appear in mint sets starting in 1962 can be hard to locate. This is
unusual and suggests an extremely high attrition on the sets. These were extremely cheap
and were fairly low mintage. Look for all the coins that don't appear in mint sets and all
of the very low mintage issues. Look for nice choice examples in mint state. The 1947 R
isn't seen regularly and rarely in nice shape.
The older Indian issues should experience increased demand as well and this especially
applies to tougher type and scarce dates. Most of the silver is "common" but silver is very
popular in India and some of it won't stand up to massive demand. Concentrate on uncs
or nice AU and better on earlier British India.
States issues might be the real sleeper. These are probably much more common in India
than in the US but many are low mintage and they do make great collections.
I believe the most massive gains will continue to be in the moderns and states coins will
get attention as time goes by.
Ankur
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>Nothin' gets me excited more than hearing young people pick up on one of the least stressful hobbies ever to come along besides golf. Forget that hobby... it takes too long to enjoy a "round". (that was a traffic in India pun) Forgive me.
However, it is great to read that 11 percent of eBay India in 2010 was coin related.
The best part of that article (for me), happens to be the last paragraph. Sage words :
While coin collecting can be a lucrative business, financial experts point out that it is an industry that is unregulated, lacks transparency and has poor liquidity. "I wouldn’t recommend an investor allocate more than 5 percent of their portfolio to old coins, it's just too risky," says Rohit Bhuta, Chief Executive Officer of Religare Macquarie Private Wealth. "The relative lack of transparency makes it hard to establish what and how much is out there. So I advise clients to treat them as a collector's item they get joy from, with the potential of a handsome return down the track."
Know your dealer, trust your instincts.
Golf there you go. Hit a tiny ball and 200 yds and if I can find it I would consider myself a winner. Id pick it up and go home. I cant tell you how many golf balls ive lost. I have a bad eye to where it goes. Stupid sport. Is it really even a sport?
Ron