How many coin collectors are there in the US...

coinnut · July 16, 2011 11:47AM

How many coin collectors do you think there are in the US that regularly spend $100 and up for coins? My brother and I differ greatly in our opinion on this. He thinks there maybe be a million, I'm thinking under 100,000.

AMRC · July 16, 2011 11:48AM

Today? 40,427.

Monstarcoins · July 16, 2011 11:49AM

$100 is a rather small amount. Id say at least 1 million

rec78 · July 16, 2011 11:50AM

I agree with you-most collectors are in the change-finds category, or under $100 category.

291fifth · July 16, 2011 11:56AM

If you don't count those that only buy modern US Mint products, probably about 100,000.

bolivarshagnasty · July 16, 2011 12:14PM

My gut instinct tells me it's a lot smaller number than one would think. The two series that I have collected in the past (Jeffersons and Lincolns) both seemed to be a small collector world. I quickly met all of the top 20 or more of the respective series within a few years. When those players quit buying for whatever reason, the series quickly loses
steam and demand seems to drop off. Just my observation. Mel

llafoe · July 16, 2011 12:17PM

If you take bullion investors out of the mix (that includes all old gold at spot plus a little), I suspect it's in the low 10s-of-thousands.

RedTiger · July 16, 2011 12:20PM

Excluding bullion buyers, I'd guess about 100,000 have purchased a numismatic coin valued at $100 or more in the past two years. $100 might be a small dollar amount on this forum, but at local shows, or local clubs it tends to be a large number.

Including bullion related buyers, I'd guess maybe triple that number. The telemarketers with national radio ads have big lists and do huge dollar volume, and those ads on the big national radio shows are expensive.

A million might be my guess if the figure includes those that buy proof sets from the mint, and other lower value coins.

A person might look at lists such as registered users at Heritage, subscription numbers for the major numismatic magazines, membership numbers for the ANA. All of those would point towards a number in the 100,000 range. Of course not all buyers get magazines, or whatever, but they again not all magazine subscribers are still active buyers of coins. Many magazines go to libraries.

Dentuck · July 16, 2011 12:40PM

Q. David Bowers discusses this topic and offers various opinions in The Expert's Guide to Collecting and Investing in Rare Coins.

travelingman · July 16, 2011 1:36PM

547,984

TwoSides2aCoin · July 16, 2011 1:55PM

Bear · July 16, 2011 2:25PM

Gee, I always though all the collectors in the Nation, were on this Forum.

ricko · July 17, 2011 12:24AM

It is fun to theorize, but there really is no accurate way to estimate that number. RedTiger has a logical method, but even then, it is very hard to pin down. Cheers, RickO

coinandcurrency242 · July 17, 2011 12:41AM

<< How many coin collectors do you think there are in the US that regularly spend $100 and up for coins? My brother and I differ greatly in our opinion on this. He thinks there maybe be a million, I'm thinking under 100,000. >>

not enough people

OPA · July 17, 2011 12:47AM

According to the Mint...120,000,000

I suspect that there are more coin than stamp collectors. What is the paid membership of the ANA? That should give you a ball park fiugure of dieheart coin collectors.

BryceM · July 17, 2011 1:04AM

I'd like to know how many routinely spend $1,000 per month. I bet that number is very low. There are tons and tons of people who do common series in grades unworthy of holdering, at least that's my opinion from looking through estate auctions.

drwstr123 · July 17, 2011 1:23AM

As of 11:15 AM EST: 33,093.

Rooster1 · July 17, 2011 2:27AM

I'm thinking less than 10,000 if you exclude the dealers who are not neccessarily collectors.

pursuitofliberty · July 17, 2011 2:40AM

of course this is a WAG ...

but if we are talking collectors who will and do regularly purchase material valued at over $100., that is offered through Numismatic venues ... coin shows, auction sites, coin publications, dealer web-sites ... and excludes Bullion items, I would suspect the number is smaller than any of us want to hear.

I think the number is less than 50,000, maybe as little as half taht at any one time, but again, that's just a WAG

TwoSides2aCoin · July 17, 2011 2:45AM

Lucky for you. My brother and I disagree with our opinions on more important issues. Like who's buying lunch at the next meeting ?

Walkerguy21D · July 17, 2011 2:55AM

<< I often wonder myself but don't you guys typically see the same faces at the shows, so for serious collectors it is rather small I would assume. >>

If the number is based on those who attend shows, I agree with Realone. But doesn't Heritage claim some huge number of bidders routinely participating in their on line auctions? I bet they have some fairly accurate statistics on the collector base in their records.

DNADave · July 17, 2011 2:59AM

There are about 200,000 people in the county I live in.
I'd conservatively GUESS that there are about 25 buyers at the OP's levels, based on what I've seen at local shows and auctions.

25/200,000 = 0.000125 or 0.0125%

308 million in US x .000125 is

38,500 collectors using a WV county as a measure.

2ndCharter · July 17, 2011 3:29AM

I suspect that there are more coin than stamp collectors. What is the paid membership of the ANA? That should give you a ball park fiugure of dieheart coin collectors.

The ANA has around 30,000 members yet the American Philatelic Society (APS) has over 40,000 members.

Baley · July 17, 2011 3:43AM

I'm not a coin collector by the OP definition,

it's been over a year since i bought or sold a coin (excluding bullion), and also don't belong to ANA or any other club, don't subscribe to coin periodicals, don't submit coins for grading.

yet i look at and think about coins every day and read this forum semi- regularly, and have a rather large coin collection. Am I a "coin collector" if I don't currently add to my set?

The huge numbers in the millions that some sources quote that includes people who save change in coffee cans isn't relevant to the OP, not sure if you mean to include "haitus" or "stalled" or "can't currently afford the remaining coins I need for my collection" people like me in your totals,

but I'd put the number in the 100,000 to 200,000 range for active collectors, two or three times that if you include collectors like me (have and like coins but not currently active), and perhaps as many 3 million if you include everyone who pays more than face or melt for numismatic coins.

It's a giant bell curve of collecting behavior if one simply factors spending, and the number depends on the precise definitions. One could do a complex analysis with multiple variables to arrive at a comprehensive description of the collecting population, the results might be very interesting. The number of "serious" coin collectors using all the parameters would probably be surprisingly small. A high percentage of those might be logged on to this very forum right now

ormandh · July 17, 2011 3:55AM

I would think 100,000 would be a good guess. -Dan

ormandh · July 17, 2011 3:56AM

I will add that I hope that it would be more!

JamesMurray · July 17, 2011 3:57AM

Good points Baley , i'm in that boat too. The last coin i bought was also the first i've ever returned , not a member of anything and do not submit for slabbing,i don't go to shows and don't buy the t shirts/magazines etc .. have a swatch at the coins i've accumulated and you might call me a collector though and then some.

COALPORTER · July 17, 2011 4:08AM

<< ... $100 might be a small dollar amount on this forum, but at local shows, or local clubs it tends to be a large number.... redtiger
>>

Good observation. I quit a local coin club because most members seemed content rolling around $10 garbage, so even allot of people who join ANA member coin clubs don't really have an extra $100 to spend on coins. some people might be interested, but don't have ANY money, and 100 bucks really means the diff. between being homeless or not.

TPRC · July 17, 2011 4:10AM

<< How many coin collectors do you think there are in the US that regularly spend $100 and up for coins? My brother and I differ greatly in our opinion on this. He thinks there maybe be a million, I'm thinking under 100,000. >>

I'm with you fellers!

Actually, I think it's under 100k.

llafoe · July 17, 2011 4:25AM

For the coins that Larissa and Larsen collect (grade, mintage, surviving population), 25 collectors are too many!

johnny9434 · July 17, 2011 4:43AM

i would say maybe there would be 250,000 to 500,000 collectors out there. jmo

BryceM · July 17, 2011 6:40AM

It does make you wonder though who has the 391,000 1923 Peace Dollars that the two top companies have graded. I have one. The vast majority of these are at least $50-75 coins.

mcarney1173 · July 17, 2011 6:47AM

well, I would argue that a coin collectors is anyone who strives to possess U.S. money. Since, everyone in the U.S. seeks money, then there's roughly 300 million

ambro51 · July 17, 2011 7:05AM

Some people lay out six figures for a Trade Dollar

others see a super shiny state quarter, and put it in a small glassware dish in the cupboard.

....they are both coin collectors.

OldEastside · July 17, 2011 7:19AM

Define "Coin Collector"

Example, is a coin collector someone who spends X amount of dollars pursuing the hobby,
on a regular basis?
Is a coin collector a person that buys Mint products each and every year?
Someone who collects pocket change to fullfill a specific series?
an Individual whom has jars filled with specific denominations of pocket change?
Grandma that has a couple of 2 1/2 dollar Indian gold wraped in a hankerchief?
My 9 year old nephew who has 8 proof ASE's starting with a 2001?
The girl at Jack in the box that go's wild when you give her an Ike Dollar?
All of the above? (Feel free to add to the demographics)

Could'nt say but a guestimate would be 10's of millions.

Steve

OPA · July 17, 2011 7:53AM

<< It does make you wonder though who has the 391,000 1923 Peace Dollars that the two top companies have graded. I have one. The vast majority of these are at least $50-75 coins. >>

You neglected to mention that of those graded, approx 90%+ are MS64 or a lesser grade & in a lot of cases, the value is only slightly over melt. I suspect that over the years a lot of those have ended up in various melting pots or sold as rolls.

fiveNdime · July 17, 2011 8:18AM

spend regularly, ~500,00

i havent spent more than a $100 for a single coin(a $100 exactly), but have several that are worth quite a bit more.

id like to regularly be able to spend $100's on coins.

travelingman · July 17, 2011 8:22AM

pm sent

pennyannie · July 17, 2011 8:40AM

You can have a lot of inactive coin collectors, some that have spent big money in the past but have not bought any coins in the last 6 months, year or more. Coin collectors come and go, some stay the course. For years i spent between 20k and 75k a year and have not bought a coin since november of last year, ( got on a gun buying jag). I may buy next week if i see what i want. I have become picky in what i like.

BryceM · July 17, 2011 9:11AM

<< 

<< It does make you wonder though who has the 391,000 1923 Peace Dollars that the two top companies have graded. I have one. The vast majority of these are at least $50-75 coins. >>

You neglected to mention that of those graded, approx 90%+ are MS64 or a lesser grade & in a lot of cases, the value is only slightly over melt. I suspect that over the years a lot of those have ended up in various melting pots or sold as rolls. >>

Actually, of the 161,000 graded by PCGS, 54 percent are MS64 or higher. I agree with you though that many have likely been melted or are stashed in mega-roll-size hoards. Still, if there were zero demand, nobody would have bothered to have sent in so many. That demand has to come from collectors on some level.

RedTiger · July 17, 2011 10:11AM

<< 

<< 

<< It does make you wonder though who has the 391,000 1923 Peace Dollars that the two top companies have graded. I have one. The vast majority of these are at least $50-75 coins. >>

You neglected to mention that of those graded, approx 90%+ are MS64 or a lesser grade & in a lot of cases, the value is only slightly over melt. I suspect that over the years a lot of those have ended up in various melting pots or sold as rolls. >>

Actually, of the 161,000 graded by PCGS, 54 percent are MS64 or higher. I agree with you though that many have likely been melted or are stashed in mega-roll-size hoards. Still, if there were zero demand, nobody would have bothered to have sent in so many. That demand has to come from collectors on some level. >>

My guess is that a relatively small number of hoarders have vast quantities of these generic coins. I doubt that lots of them were melted because at MS63 and up the coins command a decent premium over melt value. For many years MS63/64 grade generic Peace dollars were $25 to $45 retail value coins, when melt was more like $6. Back in the day, it was cheaper to accumulate a small hoard. For many years, I would go to coin shows, and if I didn't find anything else to spend my money on, I would buy a few certified common date silver dollars (mostly Morgans). Over the course of years, it became a modest pile. I'm sure I'm not alone in that kind of behavior. Just a small number of hoarders going overboard would soak up most of the coins.

Separately, a stronger argument for a larger number of collectors, might be to point to the numbers for other high value common coins such as 1909 S-VDB cents or 1916-D dimes. There are lots of certified examples and even the worst of these is well over $100 in value. Again, the counter argument it that a relatively small number of hoarders and/or dealers have 75% of the supply in their hands.

As for the inactive collectors, there are lots of them. If someone isn't buying and they aren't selling either, I don't think I would count them as active coin collectors.

Anyway, there is no conclusive way to determine a hard number. A person can look at various known numbers and extrapolate or use them to guess.

BaseballAbs · July 17, 2011 10:14AM

If you put a current collector in the question your going to get a different answer then collectors total.

keyman64 · July 17, 2011 12:09PM

I don't know but I think they ALL SHOW UP TO BID WHEN I AM BIDDING ON SOMETHING!

WoodenJefferson · July 17, 2011 12:58PM

Hard core collectors of coins...46,837

Wannabe coin collectors...1.1 million

HSN coin collectors...1.5 million

total 2,646,837

melvin289 · July 17, 2011 4:15PM

WoodenJefferson, I was wondering when someone was going to mention the HSN collectores. The people that buy and save the gold and platinum plated State Quarters. The slabbed State Quarters and whatever else they sell on HSN. They are also collectors even though they don't have a clue.

Ron

53BKid · July 18, 2011 12:32AM

Many YNs start out collecting the state quarters no differently than I did as a kid in the '70s collecting Lincolns. You have to start somewhere. Many of these kids will become the guys who buy our estates' collections!

Did you guys know you can sign up to become a coin collecting merit badge counselor for the Boy Scouts? Great fun working with YNs to developing their interest in collecting.

BillyKingsley · July 18, 2011 12:33AM

How much money you spend doesn't mean a thing. It's the WHY you collect that matters.

I've never, and I likely won't ever, spend $100 in the hobby. I'll be lucky if I can ever spend $20 on a single coin again. Since I began collecting in 2008, I've only done even that 5 times.

Even though I basically only get new additions at Christmastime, I probably enojoy the hobby more than almost all of the members on the board, at least in the US section. I don't care how much something's "worth", or who I can sell it to- I wouldn't have it in the first place if all I was thinking about was selling it to the next guy who comes along. I don't care what some anonymous person says a coin is graded, I am just happy to have them.

kimber45ACP · July 18, 2011 1:00AM

According to Mike Mezak, if you've ever picked out a coin in your change in put it
in a different jar than the rest of your change, you're a collector.

renomedphys · July 18, 2011 2:37AM

Seven

How many coin collectors are there in the US...

Comments

Leave a Comment