collecting has always been around either rocks, coins or whatever cause it's interesting to see what one can find and the thrill of not knowing what is out there waiting to be found tends to peak interest , even nowadays there is interest in collecting it's just blended into the world and it's not in the spotlight like many things so it's not really noticed
also people sometimes read about huge coin auctions for multi million dollar collections or rare coins and such and that gets noticed by people are now going i want to find or collect something like that
The hobby will never die. It will wax and wane in popularity and someday many many years after coins are forgotten by almost everybody except historians there will be only specialists and very limited "collecting". Museums will always display coins.
@2ndCharter said: No. The same thing was being said in the 1970s
_
I agree - I've been hearing that since they took silver out of the circulating coins in the 1960s. Still here today.
The hobby is still excluding those who collect coins made after the "Transition" but not nearly to the degree it was ten or twenty, or forty years ago. While such collectors are often less sophisticated than older collectors they still are the life's blood of the next generations of collectors. Every time @Charmy posts pictures from the coin shows I see younger and younger people. As I've aged 15 years the average age at coin shows has decreased by 5 or 8 years. I used to be the youngest person at shows only 25 years ago but now I'm among the oldest.
The hobby is being revitalized right before our eyes. No one can hold back the tide though many try.
But I have mixed thoughts on the hobby. In the 60's my local coin club would have a 1/2 dozen dealers with tables, maybe 100 or more collectors and a vibrant auction with many good coins. Now, 1 dealer, 30 - 40 people in attendance, and the auction often has very little of interest (to me). Part of this might (and probably) relate to change of location - Southern CA to Oregon.
I've switched mainly to darkside (foreign coins) mainly because new issues from the US mint are uninspiring, dull, and political.
Since doing so, I believe that is expanding overall. I know I sure can't find the interesting darkside coins that I used to be able to find.
Kinda makes sense as the world becomes more and more cosmopolitan.
I like allegorical designs on coins.
also people sometimes read about huge coin auctions for multi million dollar collections or rare coins and such and that gets noticed by people are now going i want to find or collect something like that
The number of non-collectors who are reached this way is very low. The media is too fragmented now. And where they do read it, there is every reason to believe they overwhelmingly forget about almost immediately because it's not relevant to their life. They disproportionately can't afford these collections or coins and of those who can, they are already aware that coin collecting exists.
I read CNBC.com regularly (every day) which I presume is representative of business news. I have seen an article on something coin-related literally every "blue moon", a handful of times. It isn't much different for any other collectible field or art either. I presume the reason for this is the belief by the source that it's of limited to no interest to their readers and they are presumably mostly correct.
Last time I recall reading anything I believe was Weitzman's sale of the 1933DE and Magenta stamp. Before that, probably about some hoard discovery. But for a coin auction, cannot even remember and I have been a coin collector for almost 50 years.
The hobby is still excluding those who collect coins made after the "Transition" but not nearly to the degree it was ten or twenty, or forty years ago.
You've made this claim many times before. Whatever extent collectors in the past were talked out of collecting (US) moderns, the majority of collectors collect anonymously now or at least relatively so. This isn't 1965 or even 1975 when I started.
There is no reason for anyone to care what someone else thinks about their collecting preferences. The evidence from US Mint sales (both now and previously) and TPG population data contradicts your claim.
Coin collecting is an activity similar to collecting other things that have inherent appeal to people (i.e. diamonds and other precious stones, precious metals, paintings, photographs, books, records, video recording, audio recordings, sculpture, wood carvings, weapons, watches, jewelry, furniture, furnishing, clothing, shoes, pipes, hats, canes, homes, automobiles, boats, planes, etc.)
Some of these items are old/vintage. Some are newly created. Some are objects of beauty. Some are objects of historical significance. Some have wide spread appeal. Some have appeal to a narrow group of specialists.
Whatever appeal these objects have, persons who are attracted to them (the attraction can arise from one or more human motivations springing from one's needs, wants and desires) will devote time, effort and money to search for, find, acquire and own them.
Coin collecting in particular and collecting in general will ebb and flow in accord with what is trending in society.
Collecting will not die out until humans:
die out as a species (in which case whatever supplants humans can prior my favorite coin from my dead, cold fingers ), or alternatively
evolve to a point where (in the words of Arthur C. Clarke) they gain freedom from "the tyranny of matter" and become beings of pure thought who can exist in the very fabric of space/time.
It is funny how over the 18+ years I have participated in the forums that threads titled "Is coin collecting dying?" get posted on a regular basis. These posts and the replies to same are mostly always the same.
I remember as a kid in the 1960s and early 1970's hearing adult collectors and dealers ask the same question (with serious concern over the future of the hobby). 50+ years later nothing has changed and the hobby marches on (while adapting to the ever evolving information technology that makes the hobby much more available at all levels, to a wider audience, at a faster pace then ever before).
Carry on with your hobby pursuits and enjoy yourself a little bit as we speed towards a great, terrible, or mundane future.
I have never been to a coin show or shop that didn't have coins from after The Transition available for purchase. The gatekeepers must be doing a pretty poor job of excluding them and there must be buyers or sellers wouldn't bother stocking them.
No I don’t believe it’s a dying hobby. At shows I have attended / setup interest is high plus it’s still pretty much well tough for me to win auction items at my price.
I don't get the whole viewpoint that "coin shows are empty" thus the hobby is dying. Nor "there are no more coin shops". It's the internet age, and much as I love the idea of a rustic old-timey LCS, the odds that they have a better specimen of whatever-coin than the entirety of the online world is near-zero. The whole game is online now, and I'm amazed there still are any LCSs at all (minus the pawn/bullion type places).
@TimNH said:
I don't get the whole viewpoint that "coin shows are empty" thus the hobby is dying. Nor "there are no more coin shops". It's the internet age, and much as I love the idea of a rustic old-timey LCS, the odds that they have a better specimen of whatever-coin than the entirety of the online world is near-zero. The whole game is online now, and I'm amazed there still are any LCSs at all (minus the pawn/bullion type places).
Most of the remaining B&M coin shops are primarily in the business of buying coins or entire collections that walk in their front door. Most of the better coins they buy get wholesaled to bigger dealers, consigned to auctions, or sold on eBay.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
My other hobby is collecting custom handmade knives and there is a stark contrast regarding the show. The knife shows are packed with both men and women of all ages and there is tons of enthusiasm and energy. Huge lines to get it. The few coin shows I have attended have been very depressing and don't even come close.
I've seen the ads for newly created knifes. What is the appeal?
In this sense, coins and postage stamps share a common fate. Because postage stamps are likewise an anachronistic inconvenience, functionally obsolete - you have to go out of your way to buy and use postage stamps on mail, and in many countries for many classes of mail, postage stamps aren't even allowed any more. Most of what comes into your mailbox these days, doesn't have stamps on it. And the decline in everyday use of postage stamps has seen a corresponding decline in the percentage of the population that have become interested in stamp collecting.
The major difference between nominal value stamps and coins is that you can spend your coins; but, the Post Office won't buy back your stamps.
In this sense, coins and postage stamps share a common fate. Because postage stamps are likewise an anachronistic inconvenience, functionally obsolete - you have to go out of your way to buy and use postage stamps on mail, and in many countries for many classes of mail, postage stamps aren't even allowed any more. Most of what comes into your mailbox these days, doesn't have stamps on it. And the decline in everyday use of postage stamps has seen a corresponding decline in the percentage of the population that have become interested in stamp collecting.
The major difference between nominal value stamps and coins is that you can spend your coins; but, the Post Office won't buy back your stamps.
While that’s true, it seems that there are fewer and fewer people - especially younger ones - who even handle coins/change these days. Every week, I get multiple questions about normal looking coins, that have circulation marks or discoloration, etc., asking if they are errors. It indicates to me that at least some of those who are asking are unfamiliar with the many ways coins can change in appearance, simply through typical circulation and storage.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Through the internet the World has become somewhat of a smaller place. There is still so much to learn and appreciate in Numismatics at so many different levels. So is the hobby dying? Actually the best is yet to come provided that the hobby recognizes what is important and demonstrates that it is capable of policing itself.
This is a hobby whereby expertise is developed overtime and through hands on experience. One does not become an expert overnight. Those that undertake the work will enjoy the hobby and appreciate all there is to explore.
Good luck in your numismatic pursuits... there is so much to see. And finding what may become one's greatest collecting passion may not be discovered until well into the journey
Experience the World through Numismatics...it's more than you can imagine.
A quick read of Gerry Fortin's Blog will tell you that coin shows are hot (if you are selling premium coins). He had a record breaking day (while internet sales have fallen). Take what you want from his discussion but it appears people want shows and they want CAC coins. Maybe it has to do with the Friday announcement from JA at CAC.
As a person that collected as a kid and took a long break until relatively recently, my outside view is that the internet has made a huge difference. Coin shows remind me of gun shows. Gun shows used to be great before the internet took over. Now they are largely dead except for a few very big ones that cater to people with a lot of money who want rare and esoteric examples. All of the activity in guns is online and at auction houses. Coins seem to be the same way.
While that’s true, it seems that there are fewer and fewer people - especially younger ones - who even handle coins/change these days. Every week, I get multiple questions about normal looking coins, that have circulation marks or discoloration, etc., asking if they are errors. It indicates to me that at least some of those who are asking are unfamiliar with the many ways coins can change in appearance, simply through typical circulation and storage.
I avoid using coins as payment or receiving coins as change altogether and have for years, at least 10 years. I still carry more paper currency (and use it) versus most people, but current coin denominations have no purchasing power. Aside from the convenience of alternative payments, I assume this is a big reason for the experience you describe.
For most Americans, it's only very infrequently that they have an actual need to use coins as payment.
@Estil said:
I'm far more concerned about baseball cards being a dying hobby...I mean do kids even collect baseball cards anymore? NO I don't mean Pokemon or Magic the Gathering or whatnot but good ol' fashioned baseball cards.
@TimNH said:
I don't get the whole viewpoint that "coin shows are empty" thus the hobby is dying. Nor "there are no more coin shops". It's the internet age, and much as I love the idea of a rustic old-timey LCS, the odds that they have a better specimen of whatever-coin than the entirety of the online world is near-zero. The whole game is online now, and I'm amazed there still are any LCSs at all (minus the pawn/bullion type places).
I work full time in a B&M coin shop in the Asheville area. Virtually all of our business is in the store. Only occasionally the owner will list something on eBay. 99+% is done in the shop. In fairness mostly bullion, but we have a very healthy following for numismatic coins. And lots of raw coin sales... more than most would think.
the coin hobby is not dying, but I don't think it's growing by leaps and bounds like the card hobby is. That hobby has so much going for it that coins can't compete with: popular athletes, signings, new crop of rookies/cards every year to get excited about.
@Estil Baseball/basketball card hobby is nearly as popular again as it was back in the late 80s/early 90s.
While that’s true, it seems that there are fewer and fewer people - especially younger ones - who even handle coins/change these days. Every week, I get multiple questions about normal looking coins, that have circulation marks or discoloration, etc., asking if they are errors. It indicates to me that at least some of those who are asking are unfamiliar with the many ways coins can change in appearance, simply through typical circulation and storage.
And of course, Heritage is offering to send them a free Red Book. They just need to pay postage and handling.
P.S. While I'm sure it's a waste of your time, there couldn't be a better person for them to contact.
@Estil Baseball/basketball card hobby is nearly as popular again as it was back in the late 80s/early 90s.
The late 80's to early 90's was substantially speculation. One of my work colleagues about my age was unopened buying boxes at the time and he was hardly alone.
The hobby appears alive and well for the time being though the same can’t be said a few years back when this was being discussed.
I believe the tangible nature of coins, along with their beauty and historical references should hopefully keep the hobby healthy and vibrant moving forward. Like anything, there will likely be cycles of growth and stagnation. Now, if we can just keep the counterfeiting at bay, I’d feel a LOT more comfy!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
@Estil said:
I'm far more concerned about baseball cards being a dying hobby...I mean do kids even collect baseball cards anymore? NO I don't mean Pokemon or Magic the Gathering or whatnot but good ol' fashioned baseball cards.
I think Baseball cards are still doing ok.
>
I asked do kids collect baseball cards anymore, like they often did in the 20th century back when kids could still afford at least some of the packs?
@WCC said:
I avoid using coins as payment or receiving coins as change altogether and have for years, at least 10 years. I still carry more paper currency (and use it) versus most people, but current coin denominations have no purchasing power.
How do you figure? They spend just the same as paper currency. I mean 10,000 pennies and a $100 bill are each 100 dollars just the same.
@Estil said:
I'm far more concerned about baseball cards being a dying hobby...I mean do kids even collect baseball cards anymore? NO I don't mean Pokemon or Magic the Gathering or whatnot but good ol' fashioned baseball cards.
I think Baseball cards are still doing ok.
Prices like this are the exception, not the rule. But news like this does help expose the card hobby to some new blood. But one should not think this is the norm.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
@ChrisH821 said:
Anyone who's paid attention to demand and prices the last few years will confirm the hobby has a very strong pulse.
"Junk" will never be in strong demand, however.
I have to say I've sold more 90% junk this year than the previous 13 years in a B&M store.
It's alive ( the hobby) and well.
@WCC said:
I avoid using coins as payment or receiving coins as change altogether and have for years, at least 10 years. I still carry more paper currency (and use it) versus most people, but current coin denominations have no purchasing power.
How do you figure? They spend just the same as paper currency. I mean 10,000 pennies and a $100 bill are each 100 dollars just the same.
I'm not going to carry around enough coins to buy anything because I don't need to do it. I also don't want any change back because it isn't worth anything.
I'm also not interested in eliminating the $1 currency note to force circulation of the mostly abysmal (all but the Sac) design small dollar coins, much less any other denominations.
I don't collect any US circulating coinage, have no intent to ever collect it, and so have no use for it.
@ChrisH821 said:
Anyone who's paid attention to demand and prices the last few years will confirm the hobby has a very strong pulse.
"Junk" will never be in strong demand, however.
I have to say I've sold more 90% junk this year than the previous 13 years in a B&M store.
It's alive ( the hobby) and well.
90% silver, right? How much of that is actually for collecting?
Do these sales include noticeable volumes of (other) coins typically used to fill albums 50 years ago?
The hobby itself is alive but not necessarily well. Many of the things that attracted me to the hobby over forty years ago have died;
Dealer honesty and integrity
Coin shows that were once havens brimming with affordable/quality specimens.
Sellers who were also collectors who knew about what they were selling as a collector first, seller second.
Today, you can learn all you want about slabs, grading houses, gold, green and QAcheck stickers and why their slabs
demand an even higher premium than the other dealer's slabs. But 99% of these dealers can't tell you much less
recognize a knob S mint mark, full head, full bands, full bell lines unless the slab states it.
Slab Quality/Coin Quality/Grade Integrity
What I call "slab crap", are coins that have been slabbed that have fingerprints, PVC damage, skin cancer (pits from
tarnish), ugly spotting from tarnish, foreign/chemical damage and the like. Simply put, UGLY coins that have been
overgraded and are sold for the slab, not the coin. The culprits who slabbed these coins created the niche that the triple
sticker companies now live on. If all the grading houses graded the way PCGS did in the beginning (old rattlers with
green labels), we wouldn't have second opinion stickers, and slab crap. This leads me into my next venting category;
Higher Slab Fees for little in return
In my opinion, ALL COINS should be attributed on the slab for the same price charged. A coin's attributes contributes
to the coin's respective value. It's a big part of the hobby!.
RAW coin collecting
All of the above reasons have killed collecting raw coins. Raw coin collections are looked at in a totally different light when
it comes to value. Why? Because buyers are not knowledgeable collectors who can identify and grade a raw coin. Their
expertise is only in buying low and selling high and occasionally throwing in a free insult to the owner of the coins.
EBAY
Do I need to say more?
Overpriced and poor quality mint sets
You really have to search A LOT of mint sets to find a quality specimen of MS66/PR69 or higher. You would think the
government would put in place a quality control program that addresses the need for a higher quality of limited first
strike coins. These sets would earn the label of PRESTIGE mint sets. The rest to be called souvenir sets, buyer beware.
Bullion Collecting
Dying a slow death due to outrageous dealer buy/sell premiums. Its so bad, I wouldn't recommend to any new or old
collector to bother with silver eagles or gold, Even the bar stackers are holding back due to crazy premiums.
@fullstepnickels said:
The hobby itself is alive but not necessarily well. Many of the things that attracted me to the hobby over forty years ago have died;
RAW coin collecting
All of the above reasons have killed collecting raw coins. Raw coin collections are looked at in a totally different light when
it comes to value. Why? Because buyers are not knowledgeable collectors who can identify and grade a raw coin. Their
expertise is only in buying low and selling high and occasionally throwing in a free insult to the owner of the coins.
I extracted this part of your post, but my reply covers all of it.
You have a long list, but much if not most of it is due to the financialization of collecting which is substantially driven by TPG. Not all of it, but much of it. I used to collect South Africa and the same thing happened to this coinage after TPG was widely adopted.
Whether you like raw coins or not, collecting today forces you to slab when selling or else leave (a lot of) money on the table. It's also a big reason why coins that used to be a lot more affordable are so much more expensive now. It attracted a much higher proportion of more affluent buyers who outbid the collectors who preceded them while registry sets additionally inflated the prices of actually common but previously modest priced coins.
I resumed collecting in 1998 after numerous iterations subsequent to 1975. The price level was a lot lower then (1998) but it's the primary reason I chose world coinage. I estimated the potential cost in the quality I thought I could afford for most of the classic series after the Seated coinage (excluding gold) plus a limited type set. I compared this to my then-current and estimated future budget and quickly concluded there wasn't anything in US coinage I could both afford and really wanted.
I have never looked back.
The problem now is that the same financialization which I was trying to avoid in US coinage has been creeping into world coinage. With my current primary series, I have a limited first mover advantage in the sense that I acquired a large number of quality scarce to rare coins early. But going forward from what I have seen lately, I'm not willing to increase my budget sufficiently to compete with even a few other like minded collectors.
I also have no intent in collecting noticeably "downward". It would be one thing if I could buy some I did in the past at modest premiums to what these used to cost, but I'm not paying current inflated prices because the coins simply aren't interesting enough.
@Estil said:
I'm far more concerned about baseball cards being a dying hobby...I mean do kids even collect baseball cards anymore? NO I don't mean Pokemon or Magic the Gathering or whatnot but good ol' fashioned baseball cards.
I think Baseball cards are still doing ok.
>
I asked do kids collect baseball cards anymore, like they often did in the 20th century back when kids could still afford at least some of the packs?
Next door to the shop I work at, a collectibles shop opened recently, their second location actually. From my observation, it appears healthy.
Not dieing just getting older. Are more members passing then joining?
Count the greyhairs percentage in show photos.
ANA memberships still all these years under 30K!
That's really small. To small for an ANA convention in Vegas were others have attendees at 100K +
We have 8 to 10K if we are lucky.
Attending shows Since 1964. Better coins now online, no travell expense
Yes, coin collecting is a dying hobby. Coins, like stamps and physical books are losing their physical presence in modern culture.
Post 1964 U.S. coinage is essentially not worth collecting, even though it remains valid money. Many European coins, on the other hand, are essentially worthless. Those are nations which threw away their monetary tradition and converted to newer currencies.
Silver and gold coins at least have some intrinsic value to prop up their prices. The thrill of the hunt in physical coins obtained from banks or commerce is largely gone, and that is sad. We still have Coinstar which is collector friendly by putting collectible coins in the reject tray. Largely gone are the friendly local coin stores.
Comments
doubt it is
collecting has always been around either rocks, coins or whatever cause it's interesting to see what one can find and the thrill of not knowing what is out there waiting to be found tends to peak interest , even nowadays there is interest in collecting it's just blended into the world and it's not in the spotlight like many things so it's not really noticed
also people sometimes read about huge coin auctions for multi million dollar collections or rare coins and such and that gets noticed by people are now going i want to find or collect something like that
Coins for sale at link below
https://photos.google.com/album/AF1QipOVMv7FZDb2BvqQnSIUKnelz2nhX9TVEMcKHgHm
The hobby will never die. It will wax and wane in popularity and someday many many years after coins are forgotten by almost everybody except historians there will be only specialists and very limited "collecting". Museums will always display coins.
The hobby is still excluding those who collect coins made after the "Transition" but not nearly to the degree it was ten or twenty, or forty years ago. While such collectors are often less sophisticated than older collectors they still are the life's blood of the next generations of collectors. Every time @Charmy posts pictures from the coin shows I see younger and younger people. As I've aged 15 years the average age at coin shows has decreased by 5 or 8 years. I used to be the youngest person at shows only 25 years ago but now I'm among the oldest.
The hobby is being revitalized right before our eyes. No one can hold back the tide though many try.
Coin collecting is a hobby that ebbs and flows.
WOW, is it time for the monthly "is the hobby dying" thread already? Gee, how time flies...
RIP Mom- 1932-2012
I like bananas, stickers, not so much.
But I have mixed thoughts on the hobby. In the 60's my local coin club would have a 1/2 dozen dealers with tables, maybe 100 or more collectors and a vibrant auction with many good coins. Now, 1 dealer, 30 - 40 people in attendance, and the auction often has very little of interest (to me). Part of this might (and probably) relate to change of location - Southern CA to Oregon.
I've switched mainly to darkside (foreign coins) mainly because new issues from the US mint are uninspiring, dull, and political.
Since doing so, I believe that is expanding overall. I know I sure can't find the interesting darkside coins that I used to be able to find.
Kinda makes sense as the world becomes more and more cosmopolitan.
I like allegorical designs on coins.
The number of non-collectors who are reached this way is very low. The media is too fragmented now. And where they do read it, there is every reason to believe they overwhelmingly forget about almost immediately because it's not relevant to their life. They disproportionately can't afford these collections or coins and of those who can, they are already aware that coin collecting exists.
I read CNBC.com regularly (every day) which I presume is representative of business news. I have seen an article on something coin-related literally every "blue moon", a handful of times. It isn't much different for any other collectible field or art either. I presume the reason for this is the belief by the source that it's of limited to no interest to their readers and they are presumably mostly correct.
Last time I recall reading anything I believe was Weitzman's sale of the 1933DE and Magenta stamp. Before that, probably about some hoard discovery. But for a coin auction, cannot even remember and I have been a coin collector for almost 50 years.
You've made this claim many times before. Whatever extent collectors in the past were talked out of collecting (US) moderns, the majority of collectors collect anonymously now or at least relatively so. This isn't 1965 or even 1975 when I started.
There is no reason for anyone to care what someone else thinks about their collecting preferences. The evidence from US Mint sales (both now and previously) and TPG population data contradicts your claim.
Coin collecting is an activity similar to collecting other things that have inherent appeal to people (i.e. diamonds and other precious stones, precious metals, paintings, photographs, books, records, video recording, audio recordings, sculpture, wood carvings, weapons, watches, jewelry, furniture, furnishing, clothing, shoes, pipes, hats, canes, homes, automobiles, boats, planes, etc.)
Some of these items are old/vintage. Some are newly created. Some are objects of beauty. Some are objects of historical significance. Some have wide spread appeal. Some have appeal to a narrow group of specialists.
Whatever appeal these objects have, persons who are attracted to them (the attraction can arise from one or more human motivations springing from one's needs, wants and desires) will devote time, effort and money to search for, find, acquire and own them.
Coin collecting in particular and collecting in general will ebb and flow in accord with what is trending in society.
Collecting will not die out until humans:
die out as a species (in which case whatever supplants humans can prior my favorite coin from my dead, cold fingers
), or alternatively
evolve to a point where (in the words of Arthur C. Clarke) they gain freedom from "the tyranny of matter" and become beings of pure thought who can exist in the very fabric of space/time.
It is funny how over the 18+ years I have participated in the forums that threads titled "Is coin collecting dying?" get posted on a regular basis. These posts and the replies to same are mostly always the same.
I remember as a kid in the 1960s and early 1970's hearing adult collectors and dealers ask the same question (with serious concern over the future of the hobby). 50+ years later nothing has changed and the hobby marches on (while adapting to the ever evolving information technology that makes the hobby much more available at all levels, to a wider audience, at a faster pace then ever before).
Carry on with your hobby pursuits and enjoy yourself a little bit as we speed towards a great, terrible, or mundane future.
I have never been to a coin show or shop that didn't have coins from after The Transition available for purchase. The gatekeepers must be doing a pretty poor job of excluding them and there must be buyers or sellers wouldn't bother stocking them.
No I don’t believe it’s a dying hobby. At shows I have attended / setup interest is high plus it’s still pretty much well tough for me to win auction items at my price.
Make sure to pay your kids' (or grandkids') allowance in ALL COIN !!!
I wish I could buy more coins if it was dying. No it is a healthy hobby with tons of collectors.
Is this hobby still around?
I thought it died already!
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
I don't get the whole viewpoint that "coin shows are empty" thus the hobby is dying. Nor "there are no more coin shops". It's the internet age, and much as I love the idea of a rustic old-timey LCS, the odds that they have a better specimen of whatever-coin than the entirety of the online world is near-zero. The whole game is online now, and I'm amazed there still are any LCSs at all (minus the pawn/bullion type places).
Most of the remaining B&M coin shops are primarily in the business of buying coins or entire collections that walk in their front door. Most of the better coins they buy get wholesaled to bigger dealers, consigned to auctions, or sold on eBay.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
My other hobby is collecting custom handmade knives and there is a stark contrast regarding the show. The knife shows are packed with both men and women of all ages and there is tons of enthusiasm and energy. Huge lines to get it. The few coin shows I have attended have been very depressing and don't even come close.
I've seen the ads for newly created knifes. What is the appeal?
The major difference between nominal value stamps and coins is that you can spend your coins; but, the Post Office won't buy back your stamps.
Coin collecting is not dying, but everyone that collects coins dies.
It must be a very dangerous hobby to be involved with
My US Mint Commemorative Medal Set
While that’s true, it seems that there are fewer and fewer people - especially younger ones - who even handle coins/change these days. Every week, I get multiple questions about normal looking coins, that have circulation marks or discoloration, etc., asking if they are errors. It indicates to me that at least some of those who are asking are unfamiliar with the many ways coins can change in appearance, simply through typical circulation and storage.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Through the internet the World has become somewhat of a smaller place. There is still so much to learn and appreciate in Numismatics at so many different levels. So is the hobby dying? Actually the best is yet to come provided that the hobby recognizes what is important and demonstrates that it is capable of policing itself.
This is a hobby whereby expertise is developed overtime and through hands on experience. One does not become an expert overnight. Those that undertake the work will enjoy the hobby and appreciate all there is to explore.
Good luck in your numismatic pursuits... there is so much to see. And finding what may become one's greatest collecting passion may not be discovered until well into the journey
Experience the World through Numismatics...it's more than you can imagine.
The hobby is definitely changing and evolving. Although clad coins will ALWAYS be the runt of US coinage by design.
A quick read of Gerry Fortin's Blog will tell you that coin shows are hot (if you are selling premium coins). He had a record breaking day (while internet sales have fallen). Take what you want from his discussion but it appears people want shows and they want CAC coins. Maybe it has to do with the Friday announcement from JA at CAC.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
As a person that collected as a kid and took a long break until relatively recently, my outside view is that the internet has made a huge difference. Coin shows remind me of gun shows. Gun shows used to be great before the internet took over. Now they are largely dead except for a few very big ones that cater to people with a lot of money who want rare and esoteric examples. All of the activity in guns is online and at auction houses. Coins seem to be the same way.
I avoid using coins as payment or receiving coins as change altogether and have for years, at least 10 years. I still carry more paper currency (and use it) versus most people, but current coin denominations have no purchasing power. Aside from the convenience of alternative payments, I assume this is a big reason for the experience you describe.
For most Americans, it's only very infrequently that they have an actual need to use coins as payment.
I think Baseball cards are still doing ok.
My YouTube Channel
I work full time in a B&M coin shop in the Asheville area. Virtually all of our business is in the store. Only occasionally the owner will list something on eBay. 99+% is done in the shop. In fairness mostly bullion, but we have a very healthy following for numismatic coins. And lots of raw coin sales... more than most would think.
My YouTube Channel
the coin hobby is not dying, but I don't think it's growing by leaps and bounds like the card hobby is. That hobby has so much going for it that coins can't compete with: popular athletes, signings, new crop of rookies/cards every year to get excited about.
@Estil Baseball/basketball card hobby is nearly as popular again as it was back in the late 80s/early 90s.
So they can buy All Sport?
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 37,38,47,151,193,241,435,570,610,654,655 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
"is coin collecting a dying hobby?"
It's not the hobby, it's the people. Everybody one day willl be an "EX" coin collector.
"When they can't find anything wrong with you, they create it!"
And of course, Heritage is offering to send them a free Red Book. They just need to pay postage and handling.
P.S. While I'm sure it's a waste of your time, there couldn't be a better person for them to contact.
The late 80's to early 90's was substantially speculation. One of my work colleagues about my age was unopened buying boxes at the time and he was hardly alone.
The hobby appears alive and well for the time being though the same can’t be said a few years back when this was being discussed.
I believe the tangible nature of coins, along with their beauty and historical references should hopefully keep the hobby healthy and vibrant moving forward. Like anything, there will likely be cycles of growth and stagnation. Now, if we can just keep the counterfeiting at bay, I’d feel a LOT more comfy!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
>
I asked do kids collect baseball cards anymore, like they often did in the 20th century back when kids could still afford at least some of the packs?
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 37,38,47,151,193,241,435,570,610,654,655 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
How do you figure? They spend just the same as paper currency. I mean 10,000 pennies and a $100 bill are each 100 dollars just the same.
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 37,38,47,151,193,241,435,570,610,654,655 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
I guess I was very mistaken...
The hobby is not dying, just some of the participants within.
Prices like this are the exception, not the rule. But news like this does help expose the card hobby to some new blood. But one should not think this is the norm.
I have to say I've sold more 90% junk this year than the previous 13 years in a B&M store.
It's alive ( the hobby) and well.
I'm not going to carry around enough coins to buy anything because I don't need to do it. I also don't want any change back because it isn't worth anything.
I'm also not interested in eliminating the $1 currency note to force circulation of the mostly abysmal (all but the Sac) design small dollar coins, much less any other denominations.
I don't collect any US circulating coinage, have no intent to ever collect it, and so have no use for it.
90% silver, right? How much of that is actually for collecting?
Do these sales include noticeable volumes of (other) coins typically used to fill albums 50 years ago?
It's hard to see collecting dying with all the strong prices I've been seeing.
That being said, collecting is a hobby for collectors. Enjoyment is what matters.
The hobby itself is alive but not necessarily well. Many of the things that attracted me to the hobby over forty years ago have died;
Sellers who were also collectors who knew about what they were selling as a collector first, seller second.
Today, you can learn all you want about slabs, grading houses, gold, green and QAcheck stickers and why their slabs
demand an even higher premium than the other dealer's slabs. But 99% of these dealers can't tell you much less
recognize a knob S mint mark, full head, full bands, full bell lines unless the slab states it.
Slab Quality/Coin Quality/Grade Integrity
What I call "slab crap", are coins that have been slabbed that have fingerprints, PVC damage, skin cancer (pits from
tarnish), ugly spotting from tarnish, foreign/chemical damage and the like. Simply put, UGLY coins that have been
overgraded and are sold for the slab, not the coin. The culprits who slabbed these coins created the niche that the triple
sticker companies now live on. If all the grading houses graded the way PCGS did in the beginning (old rattlers with
green labels), we wouldn't have second opinion stickers, and slab crap. This leads me into my next venting category;
Higher Slab Fees for little in return
In my opinion, ALL COINS should be attributed on the slab for the same price charged. A coin's attributes contributes
to the coin's respective value. It's a big part of the hobby!.
RAW coin collecting
All of the above reasons have killed collecting raw coins. Raw coin collections are looked at in a totally different light when
it comes to value. Why? Because buyers are not knowledgeable collectors who can identify and grade a raw coin. Their
expertise is only in buying low and selling high and occasionally throwing in a free insult to the owner of the coins.
EBAY
Do I need to say more?
Overpriced and poor quality mint sets
You really have to search A LOT of mint sets to find a quality specimen of MS66/PR69 or higher. You would think the
government would put in place a quality control program that addresses the need for a higher quality of limited first
strike coins. These sets would earn the label of PRESTIGE mint sets. The rest to be called souvenir sets, buyer beware.
Bullion Collecting
Dying a slow death due to outrageous dealer buy/sell premiums. Its so bad, I wouldn't recommend to any new or old
collector to bother with silver eagles or gold, Even the bar stackers are holding back due to crazy premiums.
I extracted this part of your post, but my reply covers all of it.
You have a long list, but much if not most of it is due to the financialization of collecting which is substantially driven by TPG. Not all of it, but much of it. I used to collect South Africa and the same thing happened to this coinage after TPG was widely adopted.
Whether you like raw coins or not, collecting today forces you to slab when selling or else leave (a lot of) money on the table. It's also a big reason why coins that used to be a lot more affordable are so much more expensive now. It attracted a much higher proportion of more affluent buyers who outbid the collectors who preceded them while registry sets additionally inflated the prices of actually common but previously modest priced coins.
I resumed collecting in 1998 after numerous iterations subsequent to 1975. The price level was a lot lower then (1998) but it's the primary reason I chose world coinage. I estimated the potential cost in the quality I thought I could afford for most of the classic series after the Seated coinage (excluding gold) plus a limited type set. I compared this to my then-current and estimated future budget and quickly concluded there wasn't anything in US coinage I could both afford and really wanted.
I have never looked back.
The problem now is that the same financialization which I was trying to avoid in US coinage has been creeping into world coinage. With my current primary series, I have a limited first mover advantage in the sense that I acquired a large number of quality scarce to rare coins early. But going forward from what I have seen lately, I'm not willing to increase my budget sufficiently to compete with even a few other like minded collectors.
I also have no intent in collecting noticeably "downward". It would be one thing if I could buy some I did in the past at modest premiums to what these used to cost, but I'm not paying current inflated prices because the coins simply aren't interesting enough.
Do you have a link etc for this offer as know somebody who would like a book.
Next door to the shop I work at, a collectibles shop opened recently, their second location actually. From my observation, it appears healthy.
My YouTube Channel
Not dieing just getting older. Are more members passing then joining?
Count the greyhairs percentage in show photos.
ANA memberships still all these years under 30K!
That's really small. To small for an ANA convention in Vegas were others have attendees at 100K +
We have 8 to 10K if we are lucky.
Attending shows Since 1964. Better coins now online, no travell expense
Yes, coin collecting is a dying hobby. Coins, like stamps and physical books are losing their physical presence in modern culture.
Post 1964 U.S. coinage is essentially not worth collecting, even though it remains valid money. Many European coins, on the other hand, are essentially worthless. Those are nations which threw away their monetary tradition and converted to newer currencies.
Silver and gold coins at least have some intrinsic value to prop up their prices. The thrill of the hunt in physical coins obtained from banks or commerce is largely gone, and that is sad. We still have Coinstar which is collector friendly by putting collectible coins in the reject tray. Largely gone are the friendly local coin stores.
Baseball cards are hot. Attend a card show in your area. They have figured out how to bring that hobby back.
Coin collecting is still very popular (or maybe it's just the same handful of people winning all the auctions).
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
100th comment!