US Mint says 140 Million Americans collect coins.

Lakesammman

Quote in todays Wall St. J. in an article on the $1.9 mil 27-D Saint sale recently.

Does that estimate seem high??

HTubbs

It might be more like "hoard" coins...

Steve27

No, almost everyone has jars of cents.

FatMan

<< <i>Does that estimate seem high?? >>

Yes. It is my understanding that anyone who has a penny jar or a quarter jar is included in the count.

ER

<< <i> ......
Does that estimate seem high?? >>



Not, according to Chambers.

LickThoseStamps

It would not surprise me if the mint considers one a coin collector if they throw their spare change into a jar at night.

Myqqy

I think that's completely useless data......

Baley

yep, most of that number keeps their "collection" in a coffee can or jelly jar.

mrearlygold

I wonder how long it will be before some of the sleaze use that statement in their sales pitches to neophytes

MORGANHUNTER2

Wait til you see my fleabay listing this weekend- now that you mention it- i would bet at least 3 newbies bid on any one coin.


Got to love the press- great propoganda mover we ever had.

BobaFett72

Yeah, they collect them...put them in a coffee can, then take them to the super market and dump them into the coinstar machine and lose 7%.....

RR

140 Million Americans collect coins

Bull

Coindexter

<< <i>I wonder how long it will be before some of the sleaze use that statement in their sales pitches to neophytes >>



As referenced by ER, the guys on the Coin Vault already use this data to pitch SHQs and have been since I first noticed their program in 2001.

rb7557

<< <i>

<< <i> ......
Does that estimate seem high?? >>



Not, according to Chambers. >>




mao!!!! Now can I tell you where Chambers needs to go with his BS??????

Yeah, they collect them...put them in a coffee can, then take them to the super market and dump them into the coinstar machine and lose 7%.....

Oh man, that's cheap. They got those machines at a local supermarket here and it was 9.25%. I was really that people gave that kind of price to have their money counted. But I'm a cheap type of guy. I'll roll my own thank you. It more than pays for the wrappers.

RedTiger

Depends on what the threshold is for "collector." If it is anyone who throws coins in a cup at the end of the day, 140 million sounds about right. If it is anyone who ever saved a Bicentennial quarter, an Ike, a SBA, or $2 bill, it is probably over 20 million. If it is anyone who ever bought from the mint, it is probably over 10 million. The press run for the Red Book and the subscription numbers for various magazines is available and that might be a better number for what people here might consider a "collector."

FullStrike

And 138.9 million of those think Kennedy Halves in circulated condition are " valuable".

TorinoCobra71

<< <i>It might be more like "hoard" coins... >>



That more along my line of thinking also!

TC71

291fifth

The actual number of people who could be called coin collectors is probably in the range of 100-200 thousand.
Even of this number, many only buy coins from the mint.

The 140 million figure is nonsense.

Conder101

Only high by about 139 million or so.

cladking

There are a lot of coin collectors.

There are several people around here who actively collect. I'd be surprised if the real number
is much under 20,000,000. (if at all)

If you include everyone who ever sets side a coin or would consider it then you might be able
to approach the 140 million figure.

AgMe

You know, it's hard to say; a couple of years ago, collecting SHQ's seemed all the rage (w/ plp using those books) & it wasn't just kids, I met this one very attractive woman that I wouldn't even think collected them, but she did. That being said, out of that 140 million, 139.9 million collect from change and will probably never collect anything else.

A while ago, I posted one of my observations, that the number of "hard core" collectors (you might call them serious) numbered a few thousand at most, I've noticed the same group of people at various shows and auctions. When precious metals or errors are hot, "investors/speculators" become active (like now with gold).

But as they say, non-regular collectors think anything old is valuable & a Morgan dollar for <$20 USD seems cheap to them.


...It's kind of funny really, it seems that 20 of the hard core collectors are bidding against ea other for the same coin more often than not!

Funny passion we share.

~g

100proof1957

Birth year sets are cool !

but when ya get as old as smoe of us its no longer "Collecting" its mental illness !

morganbarber

140 million would be just about one out of every two people. Obviously this is goofy.

topstuf

Possibly they are referring to wages from "outsourcing" the jobs that pay full dollars.

ColonialCoinUnion

Obviously this will depend on how one defines 'collect'.

topstuf

That would be a very LOW figure if it were calculated by the number of calls to coin dealers about misspelled "TRVST" on Peace dollars and 1943 ...copper....pennies.

cladking

I've gotten offers for coins with my tax refund. The Sunday papers and every magazine
are crammed with offers to sell coins. It's absurd to put the number as low as this thread
does unless you want to exclude everyone who doesn't buy $3,000 coins.

Anyone who assembles sets of coins and is learning about them is a coin collector. I'd be
surprised if there aren't at least 15,000,000 baby boomers alone. There are at least anot-
her five million newbies and more if you expand the definition to include those who will be
learning about the coins in the future.

Gemineye

<< <i>And 138.9 million of those think Kennedy Halves in circulated condition are " valuable". >>



You mean ..they're not.....................................

TheKidCollector1991

OK

140 Mil is nonscence like RR said.
Thats a strong percent of the population.

I'd say roughly 100 Mil worldwide!

Thats around right figures!

PerryHall

<< <i>Obviously this will depend on how one defines 'collect'. >>



BINGO!!!!

Dentuck

Q. David Bowers discusses this question in his recent book The Expert's Guide to Collecting and Investing in Rare Coins. He notes that Jay Johnson (past director of the Mint) said in 2000 that 130 million people collected coins.

Bowers writes:

"This number included citizens who might casually save a newly minted 1999 quarter... as well as those who might set aside one of the Sacagawea dollars."

He continues:

"Billions of Kennedy half dollars have been struck in our generation, and yet I can go shopping for a year without receiving one in change. Where have they all gone? Probably to some of those 130 million collectors."

He then goes on to study the question in detail, examining the number of subscribers to the seven major national numismatic publications, extrapolations by Beth Deisher of Coin World, observation of coin shows and non-numismatic shows where famous coins are displayed, sales of the Red Book, etc.

From these factors he comes up with a considerable smaller estimate. And from there he narrows his focus to what he calls "core collectors" -- an even smaller group.

Then he looks at those who, as examples, registered to bid on the 1804 dollar in the Childs sale and the 1933 $20 sold by Sotheby's/Stack's in 2002.

As you narrow the definition of who/what a "real" collector is, you obviously end up with smaller and smaller numbers.

kranky

My guideline for determining a collector worth counting vs. not worth counting, is whether the person has any organization or structure with respect to the coins. If someone has an album, binder, 2x2s, whatever, that he/she is active with, that's the type of people I would count even if they pulled every coin out of circulation.

I was always comfortable with the 200,000 number based on CW/NN circulation numbers (I don't think the Red Book releases their sales). But I recently saw that Heritage claims 30,000 unique visitors a day to their website. If 30,000 different people are going to the Heritage site on an average day, there must be at least a couple million collectors.

LanLord

I believe that 140 million people are collecting state quarters in one fashion or another.

But I don't know if you can call that true collectors in all honesty. Shop at home sure could (and have) though.

LincolnCentMan

I dont think it's that they collect them. To collect means that you seek to obtain for personal gratification. I think it's more likely that 140 million Americans have a pile of coins somewhere because it's not worth the hassle to take them to the bank. There's only what, 270 million U.S. citizens? That means that about one in two would be a collector. Let's get real.

David

renman95

I think there are only 3,470 real collectors in this country...and I have the names of 3,206. Some are real are to get.

FullStrike

<< <i>And 138.9 million of those think Kennedy Halves in circulated condition are " valuable >>



You mean ..they're not.....................................





OK, I'll admit that circulated Kennedy's are worth a lot. But but they're not worth half of what those Golden Dollars are worth.

carl

I think there are about 300 million people in the US
About 50 million are to young to be able to collect coins.
About 50 million are to old to collect coins
About 50 million don't know how to collect coins.
About 50 million can't afford to collect coins.
About 99.99 million just don't want to collect coins.
That leaves only me.