Is it too late? Have we allowed time, history and the multitudes to pass us by?

cladking

In the last couple days I've been seeing lots of new contenders for the attention
of the masses. Did we in the hobby miss the chance of a lifetime to build the num-
ber of collectors back up to the levels of the 1960's? Hobby leaders have been row-
ing in many directions ever since the American people began noticing their money
with the introduction of he state quarters. Hobby publications often have editorial
biases against anything modern. Editorials often ignore or downplay the importance
of moderns and those who collect them. Price guides are usually far out of date on
most items listing retail values still which are actually far under wholesale. They do
this so as to not "insult" or upset their long time readers who have no interest in mo-
dern "garbage", who stand no chance of profit on these coins because they refuse to
own them. Old line dealers still slam moderns in their newsletters and conversations
with the media and clients. Dealers in small shops and large still tend to dismiss these
coins and their collectors.

It appears as though there is no longer any chance that coins of any sort will become
the next "beanie babies". No longer any chance that hobby publications will enjoy
editions well in excess of a million, and scant chance that that the hobby can grow a great
deal more than what is needed to replace the throngs of aging and "retiring" collectors.

This is a shame for those who have long hoped for a major boom in the hobby and it will
limit the huge potential of long neglected coins.

Is it still possible to turn away enough newbies to damage the future of the more established
coins? Is it a sure thing that we'll get our act together enough to find a home for all the estab-
lished rarities at prices similar to those extant today?

Sure these are lots of questions but any input or thoughts would be interesting.

FC57Coins

I think the hobby is timeless. Just as any great work of art will never go unnoticed, coins in their own right are works of art that one day will have their day in the sun. One of the beauties of being in the time that we are in is that no one knows what the potential of moderns will actually be. Already we have seen high grade Ike's go through the roof and continue to climb. Washington quarters are already headed in a similar direction with many classic dates. Franklins can still be had relatively inexpensively in MS64, MS64FBL, MS65 and even MS66. Some choice pieces in MS65FBL can still be had for about $100. In my opinion, someone is going to wake up one of these days and realize that these are great buys. Lincolns are another area where many collectors can participate at all sorts of levels. In short, it's what you make of it. I don't think the hobby is dying by any stretch of the imagination. In fact, because we are at a point in time when things are changing so fast, we may look at our hobby as a throwback to simpler times, when you could take the time to appreciate art as it should be appreciated, and escape from the rat-race and terrorist laden worries of "our" time.

Gotta have perspective to get along these days!

Frank

DHeath

CK,

I know many feel coins minted in the last 80 years are not rare, valuable, unusual, unique, or interesting. I personally can't ignore an attractive coin. I don't care if it was minted today, and it is 1 of 3 billion. If it is a coin, and it is beautiful, I want one. In my humble opinion, the single biggest thing wrong with the hobby as it exists today is that it that almost every discussion about coins ends up being about the value of the coin, and not the coin itself. BTW - It's not like any of us really know the value of any of them anyway. We simply speculate. In the wrong economic situation, they're all worthless. My wife once astutely observed, "You're buying money for more than face value!".

Coulport

I don't know what publications you read but my latest Numismatic News has a 3 column article with pictures of three states that finalized their design selections. Also a full page every week dedicated to the latest and greatest moderns in the way of State Quarters, Commems and bullion coins. Other issues have Letters to the Editor published about the new finds in State Quarters, the first finds of the new year and minor errors on moderns. The full page ad guys regularly list moderns. The monthly price guide contains ALL US issues. (Granted we all don't agree about values in any price guide)
What you don't see is a lot of hype about moderns in high MS slabs. That is fine with me.

LucyBop

Whad da ya mean 1960s??? According to my calender its 1956.

kranky

<< <i>In my humble opinion, the single biggest thing wrong with the hobby as it exists today is that it that almost every discussion about coins ends up being about the value of the coin, and not the coin itself. >>



Preach it, brother!

I thoroughly agree with your comment, Don. I do believe there will always be some number of folks who will gravitate toward collecting coins, but we (the hobby) make it pretty difficult on new people.

Beanie babies didn't start out being all about money, but it ended up there. That's when it collapsed. There has to be some enjoyment involved to qualify as a hobby! The board here does an excellent job of advising newbies who happen to come by, but frankly an average person who might become interested in coins can waste a lot of money in a hurry. Who is going to hold their hand to warn them about crap slab outfits, altered/cleaned coins, paying too much, etc.? It's so easy for someone to start buying coins on ebay without a clue as to what they are doing. If someone had to physically go to a coin shop, at least they would have a chance of finding a honest dealer to help guide them along.

I think the biggest risk to the future of the hobby is that a lot of people who choose to explore coins will get taken badly because the TV coin sellers and crap slabbers are where they are most likely to get their initial exposure to coins. Once they find out how much money they wasted, they will be gone. The other hobbyists don't have much of a chance to help educate them.

cladking

???

michael

for me the best and ONLY thing you can do and then as a plus do not worry or think about it!

IS TO ACT AND TREAT EVERYONE YOU COME IN CONTACT WITH AS YOU WOULD LIKE TO BE TREATED

if you do this then you have nothing to worry about

the hobby is assured to grow by leaps and bounds and will exceed your wildest expectations!!

sincerely michael

CharlieB

Coin collecting will only grow. This particular hobby is just "one
of many". Collecting something satisfies our deepest desires. When
you watch "Incurable Collectors" on television it's hard to believe
what some people collect. But I give each one of them a lot of
credit. I am excited anytime I get a chance to see someone's
collection of anything.

Coin collecting is a very classy hobby. It's actually intimidating to
many. It's a very old hobby. You can't build your collections at the
flea markets. I always say "Collecting fulfills a lifetime".

Conder101

<< <i>It appears as though there is no longer any chance that coins of any sort will become
the next "beanie babies". No longer any chance that hobby publications will enjoy
editions well in excess of a million, and scant chance that that the hobby can grow a great
deal more than what is needed to replace the throngs of aging and "retiring" collectors. >>



You say this as if it were a bad thing.

keets

Sam

todays coinage will gain collectors when it's no longer minted. one thing that draws a series to the forefront is when it becomes obsolete. morgans are the ultimate U.S. coin, but i don't think it's a stretch to assume that when they were being minted and circulating they weren't much more than pocket change. granted, the number of collectors was miniscule by todays standard, but you should understand my point. when they stop making something, everyone wants it. and so it will go with all this modern junk coinage!! let's just not tip others off to that simple fact, lest we get trampled in the rush!!!

al h.

nwcs

I think collecting is like anything else. Needs a steady stream of novelty and good opportunities. We are finally getting more novelty in the coins but there haven't been good opportunities in a while. Also, our hobby is even more closely tied to wealth (as my sneak peek at the survey raw data is showing) than other hobbies. So when the next economic boom comes, we'll probably see an increase in the hobby. Lastly, I think the hobby needs to make appeals to related hobbies and form loose associations. Like a joint marketing campaign. And I think that the ANA would benefit from a redesigned web site and an educational campaign that is accessible to everyone.

cladking

Surely more people have an opinion on some of these questions.

coynclecter

There will be more coin collectors as time goes on. The proof sets, commems, state quarter program are all bringing in collectors. As far as moderns go, no one ever said not to collect them. Collect any coin you like. The only objections and contentions I have heard, and agree with, is in criticism to those who pay high dollars for modern coins with an intent of making a profit. When they are disappointed they will end up bad mouthing the hobby.

IMHO, the only thing holding back the rush of dollars to purchase coins from the aging and retired collectors is the endless stream of new releases by the US Mint. They are sucking all the new money out of the hobby. Once the new collectors discover the older coins will hold thier value and that coins don't have to be MS or PR69 to be attractive the tide will change.

Coyn

keets

Once the new collectors discover the older coins will hold thier value and that coins don't have to be MS or PR69 to be attractive the tide will change.

perhaps you should advise all those new collectors to check some prices from 1989 before you suggest that they sink there money into the classics that will "hold their value" over time. or have you forgotten about that top to bottom plunge that makes me think of a ride in Mr. Hyde's Nasty Fall's at Six Flags?!?!?

al h.

gemseeker

Whad da ya mean 1960s??? According to my calender its 1956.

If this is true, then I haven't been born yet.

cladking

<< <i>... modern coins with an intent of making a profit. When they are disappointed they will end up bad mouthing the hobby.



Coyn >>



Perhaps no one is more disappointed than I. It turned me upside down and took a bite out of my
horse's azz, but I don't intend to bad mouth anyone or any coins. I think I may have a shiny new
attitude though.