If coins are made obsolete...
291fifth
Posts: 24,540 ✭✭✭✭✭
by electronic payments in the not too distant future will coin collecting prosper or decline as a result.
Please explain your thinking. I won't be surprised if this happens sometime in the next 10-15 years.
Please explain your thinking. I won't be surprised if this happens sometime in the next 10-15 years.
All glory is fleeting.
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<< <i>by electronic payments in the not too distant future will coin collecting prosper or decline as a result.
Please explain your thinking. I won't be surprised if this happens sometime in the next 10-15 years. >>
I don't think it will happen nearly that soon.
Coin collecting will get a huge boost when they go out of production but then
they'll trail off as a mass hobby. Within two generations there will be virtually
no new collectors and most coins will drop to base values. A few rarities and
ancients will do OK since they will still be of interest to various specialists like
archeologists and historians.
At some point in the distant future, coins may be obsolete, and that will, in my opinion, hurt the hobby. Without people being used to coinage, collecting coinage will seem strange. Even that would take a generation to take effect after coinage stops, however.
but then decline over the years.
Think about how many kids won't be interested in coins as they
will never have possessed them. No new YN's will definitely
kill the hobby.
My first post...updated with pics
I collect mostly moderns and I'm currently working on a US type set.
I think that high prices for base metals are going to put the demise of coins on the fast track.
I'm trying to think like a futurist here, not a doom and gloomer.
Plan ahead.
<< <i>The march of computerization is relentless and quick. Do you use any floppy discs anymore? How about FORTRAN...do you even know what it was? How about that special room in your house for your very own UNIVAC?
I think that high prices for base metals are going to put the demise of coins on the fast track.
I'm trying to think like a futurist here, not a doom and gloomer.
Plan ahead. >>
FORTRAN was easy. [x-off]
[/x-off] High base metal prices will at some point cause the government to start having to
issus higher denomination coins. The simple fact is that our largest coin now is equivalent
to about 4c back when people were building bomb shelters and Univac rooms.
<< <i>...
Think about how many kids won't be interested in coins as they
will never have possessed them... >>
<< <i>...Without people being used to coinage, collecting coinage will seem strange... >>
500Bay
The 'collecting' bug, for whatever one covets from A-Z, appears to defy logic. Try to apply the above to Beanie Babies, matchbooks, tablecloths, beer bottles, etc... Just doesn't seem to work
To answer your excellent question, I would venture that in the long run, the effect would be neutral or to slightly enhance the collecting of coins. The mystery of what attracts a person to the object of his/her fancy, remains just that.
Don
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
We have intaglio printed paper, base metal coinage
and in the even of a National disaster, will have no access
to checking or credit cards. How much silver coinage have you
got in your house. In such a dire situation, the best medium to
obtain needed supplies might be working order loaded fire arms.
Camelot
<< <i>When cash goes away the revolution will begin. Plain and simple, I'm a pretty stand up guy and I still don't want my purchases tracked. >>
But there are those in the government that do want them tracked, and what better way to do that than by eliminating all cash transactions.
<< <i>
<< <i>When cash goes away the revolution will begin. Plain and simple, I'm a pretty stand up guy and I still don't want my purchases tracked. >>
But there are those in the government that do want them tracked, and what better way to do that than by eliminating all cash transactions. >>
The government writes the laws but they are composed of people. There are
a lot of people who don't want government, insurance companies, and anyone
with computer access to know every item the buy. Even rich legislators might
stop at a farmer's market or garage sale.
<< <i>But there are those in the government that do want them tracked, and what better way to do that than by eliminating all cash transactions. >>
Well, that would certainly bolster the barter system.
Semper ubi sub ubi
<< <i>
<< <i>But there are those in the government that do want them tracked, and what better way to do that than by eliminating all cash transactions. >>
Well, that would certainly bolster the barter system. >>
It would also bring alternative forms of money into circulation. Money is what
people believe it to be and if the government doesn't provide a currency that
everyone is willing to use then other forms of money will arise. It would pro-
bably mean the recirculation of the old silver coins which would could lead to
a growing underground economy.
In Zaire the people didn't like the continuing addition of zeros to the currency
and at one point actually got hold of older printing plates with fewer zeros and
used this for currency rather than government fiat. While this is an extreme case
it does illustrate the types of things that are possible where usable currency is
not available. It's really the addition of zeros to our currency which is killing it.
One used to be able to buy meaningful items with a few coins but now it takes
four of the largest denomination to even buy a can of soda pop. Rather than react
by issuing larger coins the government eliminates the largest bills and circulates
coins that are worth more as zinc or copper than as money. Copper has increased
only four fold but most of the things that one used to use coins for have increased
nearly ten fold.