Where Will The Coin Hobby Be In The Years To Come? What Gimmick Will The Hobby Need Next?

BrokenArrow

I am getting real tired of board members/ dealers that insist of giving your opinion on slabbed coins,and putting PCGS at the top of all grading companies.

A graded coin is someones opinion right? So why is PCGS ranked as the top grading company? NGC 2nd, I guess ICG 3rd/Anacs 3rd? So on. Who makes these so called price guides, the people that grade these coins right? How in the world do we know how many 1893 Morgan dollars are really in the world today? Along with every other year and coin made so long ago, we had many coins melted, we had many coins lost, so how can we put a price tag on a unslabbed or slabbed coin, it just comes down to a coin hobby club right?

I got a roll of 1881 s silver Morgan dollars last year and finally opened the roll, with my amazement all the coins had different qualities about each of them. So I should take a chance on a grading company to validate their value?

I think raw coins are just as good as slabbed coins, it should be what the buyer wants, to many common coins out there?


Do we know how many old coins in silver, gold, copper that are in the main stream and not melted down sometime in the past.


What tickles me the most is when the PCGS top graders leave that company and go to NGC, then go to ICG and now some are at ANACs one of the first graders of coins. We are being pinched out by some cleaver people and you dealers and wantabes know this,plus are cashing in on the hobby big time with a little bit of homework.

My last thought, do you ever think that one day we won't print money as we do today, but have more cash cards? what will happen if that happens to the coin hobby, sure we will still have our old coins but, if it wasn't for the Mint bringing on the Statehood quarter series, what gimmick will the coin hobby need in 5, 10 years from now to stay afloat?

I'm a coin collector now for more than 30 years, there are more coin shows on tv, more magazines, more and more young punks spewing their nonsense online about Coin Collecting 101. Its not as much fun as it was when I started, maybe its time to move on to charter fishing. Maybe I will hold on to my St Gaudens $20 coins from the early 1900's and hope gold shoots up even more, the only reason gold is up now, is that there is more demand for it because there is more people buying it, not just to buy it, they are hoarding it for investment reasons.

RedTiger

As to grading companies, my opinion is that they are primarily marketing companies. The grading is secondary. As long as a person understands that there is no reason to be upset. The primary reason people certify coins is to up value, to make them easier to sell, to sell them for higher prices. Secondary reasons include authentication and protection, but 90% or more of submitters are looking to ring the cash register. It is just business.

As to why PCGS is #1, they have the best marketing. End of story. There are a lot of factors that go into successful marketing, but that is the bottom line. If a person is tired of PCGS, they don't have to buy coins in their holders. There are plenty of coins out there in other holders.

As for raw coins, there are so many overgraded, dipped, cleaned, altered raw coins out there it isn't funny. If a coin is worth more than $500, and it is raw (gold bullion excluded and some of the old school copper), the odds are very high that there is a problem with it. For coins in the $50 range and below, have fun, but if a person is looking to spend much more than that, certified is usually a better way to go, especially for new collectors. There are many dealers who make most of their money selling to the unknowledgeable it isn't funny.

As to your roll of dollars, odds are that there might be one or two coins worth sending in. The average grade might be MS63/64 so the vast majority are not worth the fees. If you are a new collector there is little chance you will able to make an intelligent decision. Don't think I am picking on you, it takes the average collector several years to learn to grade consistently. / Edit: Oops, I see that you have been collecting for 30 years, so ignore the part about being new. You probably can teach most of those on board a few lessons. My apologies. /

Certification is not a cure all, and there are big pits to fall in when buying certified, but not the chasms that await those who insist on raw.

As to the future, the hobby is currently healthy. There are plenty of young people coming into the hobby. The hobby is still fun for those who are active in it. New collectors can occasionally find acorns that sprout up. There is more information than ever, and much of it is free.

kiyote

Questions like these are why I'm really enjoying the proof platinum series. I buy them straight from the mint, leave them raw, then track sales updated weekly in the Numismatic news.

Michigan

I'm a coin collector now for more than 30 years, there are more coin shows on tv, more magazines, more and more young punks spewing their nonsense online about Coin Collecting 101. Its not as much fun as it was when I started, maybe its time to move on to charter fishing.


It is probably a good idea to have a back up non-numismatic hobby to give some attention to. It is not
hard to become jaded from time to time with coin collecting, a break from it might do you some good.

curly

.....tired of young punks spewing their nonsense? Relax brother, it's just a hobby. Everyone has opinions. It ain't like they are cutting off fingers and toes.

BrokenArrow

<< <i>.....tired of young punks spewing their nonsense? Relax brother, it's just a hobby. Everyone has opinions. It ain't like they are cutting off fingers and toes. >>



See thats what I mean, If your strong you wouldn't snap at the question above you responsed to, yes I am your brother and hope maybe you have something good to help me with in this hobby as well as I might for you, but reading threads on here, cracks, name calling isn't warranted. So sorry if the spewing part hit you the wrong way, you are good for the hobby I bet.

Dukie101

It is probably a good idea to have a back up non-numismatic hobby to give some attention to.

Very good recommendation.

Burks

Thanks BrokenArrow. Us "young punks" are the future of the "old fart" hobby of coin collecting. People like you remind me why I really wanted to try and stay out of this hobby. Trust me, I'm strong considering what I wanted to say to you.....very strong......

Young = dumb in most of your books.

Myqqy

fc

i misread. erased. blank.

RYK

More new, innovative coin series from the mint

Computer grading

Registries that are not tied to the TPGs

Holographic coin imaging

Dollars coins replacing dollar bills

Original surface designation by TPGs

Cycle away from toned coin craze to white coin craze

Virtual coin shows and auctions

michael

buying pieces of coins with certificates

you can own an 1804 dollar lets say 10% of it for x amounts of dollars

sort of like a hedge fund like a mutual fund if not one coin a selection of coins that are traded to maximise value??




hmmmmmmmmmmmmmmmmmmmm

100 point grading system

new grading standards are there ever any set qualtifiable standards


computer grading

atom movement where you can fix a coin at the sub atomatic level say like improving scratches etc.

proof 71 ms 71 for extra eye appeal based on a 70 point system

i guerss therer is a proof 72 grade now if you get a coin proof 70 dcam there is two extra pioints for dcam

so a proof 68dcam is a 70 grade two pointe mopre on the set registry set for the dcam

a proof 69 cameo is one point more for a 70 grade

proof 69 dcam is a proof 71 grade

MrBreeze

What age do you have to be to be considered for the young punks club?

Russellp23

Can't we all just get along.

Burks

<< <i>Computer grading >>



We can only hope and dream about that. With there being sooo many different reasons why a coin can have points taken off, wonder how they would get that to work? Interesting to see it happen though.

BrokenArrow

<< <i>Thanks BrokenArrow. Us "young punks" are the future of the "old fart" hobby of coin collecting. People like you remind me why I really wanted to try and stay out of this hobby. Trust me, I'm strong considering what I wanted to say to you.....very strong......

Young = dumb in most of your books. >>



Remember Mr Me ah gey, once said to his young grasshopper student, beware of how long something has been in its place, only a young mind is very dangerous, Coins have been here long before me, and they will be here long after you take my spot as a old fart, but my main concern is that a opinion from a youngster can hurt the hobby not help it in the long run. Stability is the wise way, not overnight profit, my young Grasshopper. I can tell you a story about when I had to pull the reigns on my forwardness at the young years when my ideas were warranted. But my theory isn't like your theory is at this point. Ask George W Bush II, we are only 156 Trillion dollars in debt, but not because of him, how was everything before his thoughts came in todays history, one more time, wo boy or young man, patience is Stability. Good Luck and Good Night.

Gemineye

A New Gimmick ??......defined as a new ingenious scheme.........a gadget...........!!!!!
One doesn't have to look to far into the future to see that. The US Mint is doing that for us with all their new programs.They sure got me hooked in a way.You have to admit ...there are a lot of coins.The TPG are also having a field day certifying them.
Well guess what......MAYBEE....I said MAYBEE.....the US Mint will see a profit the TPG's are making and start their own permanent encapsulation instead of the holders they issue now.Well you be the ..judge...er ...grader.......................

dizzyfoxx

<I think raw coins are just as good as slabbed coins>

I completely, thoroughly, and whole-heartedly disagree. Buying raw coins, especially expensive raw coins, is like buying expensive raw baseball cards... way too risky! In most cases, there's a reason the expensive coin (or card) is still raw.