What I've noticed about millennial coin collectors on reddit and instagram
ACop
Posts: 1,479 ✭✭✭✭✭
They collect really lame crapola.
Whats the theory here, because they are lazy and don't work they cant buy decent stuff?
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I don’t hang out on Reddit but that hasn’t been my experience at all on Instagram. Most of my younger friends on IG have very sophisticated taste. They don’t have six figure budgets, but some are only 19! Much more than I was at that age, they are knowledgeable, focus on quality, and are capable graders.
Disagree. Older coin collectors buy lots of stuff that is very difficult to rationalize too.
I bought two coins from Bremen (Germany) this week that I really cannot explain, except that they have been on my want list for a long time. I have no concrete connection to that place.
Both the coin were in PCGS holders!
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
What do you deem as "decent stuff"? Overpriced US coins from retailers that only have value if PCGS and CAC say so? Is that decent stuff? Maybe millennials Don't want to needlessly piss their money away on proven financial losers? Just a thought.
The vast majority of collectors are collectors/accumulators/hoarders of dreck. Especially those with tiny budgets.
This.
I've seen both knowledgeable, discriminating, young collector and others who aren't.
Most want to learn but are on a budget, because of their age and financial means.
Some are amazingly industrious and have a notable amount of coin funds, especially for their age.
I know a fair share of old fools, as well.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Just scroll down the list. I doubt you know that they paid melt for these holed, cleaned and polished gems. I know money can be blown at an level but an MS coin in a holder is never going to be the disappointed a polished raw coin would be.
https://www.reddit.com/r/coins/
You don't really expect young collectors to be buying $1k+ coins do you?
Being a millennial('84), I think I'm doing OK with my collection. But then again I'm not on IG or Reddit, maybe that's a different subset.
Everyone starts somewhere.
Collector, occasional seller
I don't use reddit, Instagram, facebook, or any other social media platforms other than a couple of forums like this one.
I have lots of free time as I am not a slave to my phone....
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Wow, that statement is like going into a gas station bathroom and saying all human beings must smell like sh**.
I've seen some great coins from the younger crowd on Instagram, as well as what some would call dreck. People need to start somewhere, jeez.
10-4,
My Instagram picturesErik
My registry sets
There are beautiful coins for $20. I didnt say 1k+ anywhere.
Before everyone continues to wrap the idea of a millenial around an innocent young boys avatar, remember that there are millenials that are close to 40 years old.
I am active on numismatic Instagram. But not Reddit. For Instagram, I would totally disagree - there are young people consistently buying and selling multi thousand dollar pieces.
Fan of the Oxford Comma
CCAC Representative of the General Public
2021 Young Numismatist of the Year
For $20, Id call them beautiful widgets. As a millenial ('86), I see most of us collecting major series, just not to the extent of previous generations. More focus on quality over quantity. Also very little time in a coin shop. Rarely do I get to talk coins with people my own age in the shop.
Pretty bold statement to blurt out, very typical person with no respect it seems.
No holes here, im pretty sure you can look at many collectors millennial and non millennial and realize that many from each section buy "crapola"
My Instagram
@Acop Well wonderful, how rude of you. I’m sure this thread will be closed first thing Monday morning and that you’ll be seeing a message from a very upset mod & maybe even have a temporary ban.
Pcgs’s mission is to educate the youth and shape millennials into educated numismatists.
You sir, have not only offended me, but also the mission of PCGS. Shame on you.
There are collectors of all ages and financial means.... each collects what attracts them within their means. As there financial resources grow, so will their purchases. I started collecting as an 8 year old paperboy.... could not afford much back then (1950). But I did get IHC's in change... dimes, quarters and halves were silver, and even got a couple of Columbian halves.....could not have purchased them, but got them anyway. Today, coins are much more expensive... but collectors find a way, even at the shallow end of the pool. Cheers, RickO
As one of those millennial collectors, I don't really care what you think of my collection. I enjoy the historical aspects of what I collect, have found a niche that holds my interest, and purchase what is available and in budget.
I have two dozen plus young people working for me. There is no single brand - good or bad - among them. Some are exceptionally bright, some are hard working, some are not. It’s the same normal personnel curve you’ve seen for decades. As for collecting and grading habits, I know many old people who can’t grade and collect stuff I would not....That’s why they make 1123 brands of ice cream.
rainbowroosie April 1, 2003
As a GenZ who's active on Instagram and Reddit and has a website set up, there are about six different ways I could take offense to this
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
There are lots of old collectors that buy "lame crapola" as well. They just don't post everything on social media. 😆
I've been on Instagram for a couple of years now and have yet to see a millennial that that would fit the definition the OP describes. Most of my buys the last couple of years have been through these young collectors. I think the hobby is in very good hands.
- Bob -
MPL's - Lincolns of Color
Central Valley Roosevelts
Millennials are smart buying nice gold and silver coins close to melt. Mexico Silver onzas a very strong seller for me online and at shows. A slabbed 69 sold last nite - quality affordable coins.
They generally are not going to buy $1000 plus expensive numismatic US coins (budget) knowing the bids stagnant to southward in many series and they don’t buy off on the idea of these same coins supposedly worth 75 pct more bc of sticker. They are well versed on market pricing and the 89 crash has been discussed. Many cap their budget at item max $300. The average hourly wage here in Texas is slightly less than $20 per hour. So coins in $20-$100 range popular here. They buy what is sane for their budget. Once a coin over like $200 that is more than many make per day.
I see many of them buying currency especially world. They collect what they enjoy not what some self acclaimed expert thinks is in vogue. It could be coins of their bd or anniversary date or somewhere they went on a vacation or some historical theme. Slabbed WW1 2018 commem seeing dollars strong sales lately.
There is NO wrong way to collect coins. However one should try to remember the old saying. "buy low sell high". Collecting and having fun are far more important than profit or loss and my experience is that having fun is almost a better predictor of winning or losing money than trying to buy low and sell high. If you're having fun you're just that much more likely to do it right.
Ignorant comment that exposes weakness of character. Rather than try to understand those that are different from you, it is easiest to condemn them all.
I am an old-timer who now spends more time on Instagram than these boards. I find the younger crowd extremely bright, eager to learn, willing to explore the hobby, and they do not judge others. Can't say that for you.
I found the bitter old coin guy. You're probably a bundle of joy to deal with at shows and coin shops. Go ahead and say that to some of the PROFESSIONAL millennial dealers in person. Some of the collections and coins I've seen the younger crowd selling blows me away. You should be encouraging the younger people in this hobby to keep it alive, not tear them down.
This? Looks like a really nice set of matched WLHs that do not require plastic or CAC and can be enjoyed the way coins are best enjoyed. Most importantly, they fit the budget of the collector. I betcha when he (or she) goes to sell, there won't be much money lost and a helluva lot of satisfaction from completing and owning the set. This is how I started, and this is where I am going back to even though I have financial means to buy about anything.
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Browsed the reddit link for a while. They could use some direction there.
Collector, occasional seller
Agreed and as a function of supply and budgets, it cannot be otherwise.
The opening post was painted with an extremely broad brush.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I haven’t really been impressed with anything you post either.
Latin American Collection
I wonder if this thread has gone in the direction the OP expected it to.
Actually, I think the responses have been very predictable. Makes one wonder...
Smitten with DBLCs.
I’m so disappointed in this post, I don’t even know where to begin. Honestly, just don’t let it bother you what other people collect. This young numismatic crowd is incredible. Please never talk down on someone because they’re collecting something you don’t think is worth collecting. Smh time for you to find a new hobby man.
Changing hobbies won't change anything about the collector
At any of the shows when i see us millennials i introduce myself in a professional and friendly manner. Some of them are now friends for life. Can't judge a book by its cover sometimes they've pulled something out of there bag that made my jaw drop. And with the YN around here and there ill throw a couple freebies books or folders. Thats what the generation did before me always pass it down.
@ACop ...
You have to keep in mind, not everybody has $7,000 to spend on a $200 Peace Dollar with a polished die. Some people, especially millennials, don't have money to throw away like its nothing. But by all means, continue discouraging the younger generation of numismatics. I doubt you'll be seeing much of these boards after this highly offensive post....
Everyone should be glad "they" are buying any coins.
@ACop Your sir Have been burned!
It’s a bit odd to me that so much negativity should continuously exude from many of the people who post here. Between all the dealer bashing, sticker-hating, the sky is falling, dumb question nazis, and “your way is wrong” posts, a person might conclude that a large portion of collectors are perfectly miserable.
It’s a great hobby and this is a great forum, but stuff like the OP’s post has me looking for other places to spend my time.
Yeah I dont think anyone else here actually bothered to look at what people are paying good money for. Its funny how contrarian the old geezers here on the other side of the spectrum are. The coins here are crap if they dont have a CAC sticker. But yet somehow im wrong when I point out the younger collectors are throwing money away buying raw polished crap. Post many of those coins here proudly and these same people here swarm on how those coins are crap. It happens weekly. Go figure.
My post was never about dollar value. There is plenty of gold eagles and expensive coins that are damaged or cleaned in my example of mistakes people are making on those forums. I myself only have 3-4 coins over $1000. But yet thats what people latched onto. Millenials are 20-35 years old. Yet people are responding as if I attacked an 8 year old for not spending 10k
Whatever you say, man. Looks real lonely on this hill you wish to die on.
Well, you did say in your first post "because they don't work they can't buy decent stuff." That pretty much implies cheap coins are not decent, right? I'm 34, so old for instagram, but youngish overall in the coin world. I agree most stuff on instagram is not great, but hey, younger people don't have much money, and the more money you have, the better coins you can buy. I would love to see more "experienced" collectors join instagram so that the younger collectors have some collections to look up to.
The implication was meant to consider lazy at research. The sentiment is based on the comments on reddit that old = valuable. The oldest mistake in the book when collecting.
Its funny how the same ideas posted as a bleak future for the hobby, a post that has been done 100 times here, which implies the same idea, is agreed with overwhelmingly every time someone posts it.
Its also funny that many people have taken to those venues because of how harsh the lot on here are to new collectors. Heres one example from reddit. Imagine the swarm upon the poor bastard who came here to show off his first qe purchase and it was this. Bunch of hypocrites:
Very rich coming from the guy who cracked out a details coin to sell on instrgram as problem free, trying to take advantage of the very same idea I am posting about here. Maybe you dont want me to blow up your source of uniformed revenue? Banned or not at least im not scamming anyone like you.
Oh oops, were we supposed to forget about the thread you were exposed in because you changed the title to close and delete? My bad.
@ACop What makes you so sure that people on Instagram and Reddit are "20-35 years old"? (And it's really 23-37 years old for Millennials anyway). There's no displayed age on either of those platforms. It's also not logical to point out some people with problematic or low-budget coins and say that's a reflection of ANY particular group as a whole. Were you a numismatic expert on your first day, or month, or year of collecting?
You seem to be doing a lot of wild generalizing, and then when you're called out for it, you pretend that you were being specific and accuse other people of being hypocrites by falsely equating what they're saying with something entirely different.
It's probably best for us all to collectively stop giving this thread any attention.
Gobrecht's Engraved Mature Head Large Cent Model
https://www.instagram.com/rexrarities/?hl=en
"Whats the theory here, because they are lazy and don't work they cant buy decent stuff?"
That statement right there just smacks of total un-originality - like we never heard one generation slag the next one or two down. Lazy at research? Dollar value? Maybe you should have put those phrases in the OP, at least it would have helped. But you didn't, so you ended up posting something that's condescending at best. You really do need new material, plus your "explanations" amount to not much more than blubbering away why a pineapple should be able to be flushed down your toilet without a clog.
10-4,
My Instagram picturesErik
My registry sets
You bashing an entire generation of young, dreaming numismatists is completely unacceptable, and intolerable. Instead of ruining everybody's mood on the weekend and offending multiple members on the boards, why not keep your rude shallow comments to yourself and go on with your day? Serious question, as I cannot wait to hear your answer...
I think I'm done here. Not a single person on this thread seems to agree with your statement that young millennials are lazy enough to not be able to afford nicer coins. Maybe take the hint and not retaliate with the 35 people who disagree with you.