Share a numismatic misconception that you had until recently.

Coinstartled

In other words something that you were wrong about....for a while.

Sonorandesertrat

CAC would make an offer for any beaned coin offered to it.

Coinstartled

A bit on the sideband of numismatics...I expected platinum to always self correct to a price premium to gold. It has been at a discount for an extended period.

grip

All MS and PR 70 coins are perfect.

WingedLiberty1957

tough biz

Coinstartled

@WingedLiberty1957 said:
tough biz

.....but wise edit!

cladking

Until 2006 I thought ancient coins existed. Now I see coins as being all modern in comparison to the pyramids and 40,000 years of human progress that preceded the concept of trading metal as though it has value.

All value is based on beliefs. All coins would be considered "moderns" to most people who ever lived.

Elmhurst

That price guides were more or less accurate

bolivarshagnasty

That PCGS grading could weed out the AT stuff being sent in.

Fairlaneman

All coin sellers are reliable and honest.

Ken

JJSingleton

That commemoratives would eventually stop dropping in price.

denali12

that California was the first gold rush..it was actually Charlotte in 1801..

pennyannie

Dealers made Fair offers and sell coins at fair prices now my bubbles got busted

Raybo

@pennyannie said:
Dealers made Fair offers and sell coins at fair prices now my bubbles got busted

/\ this

JJSingleton

@denali12 said:
that California was the first gold rush..it was actually Charlotte in 1801..

Well...kinda...maybe...not really. You are correct that the first major discovery of gold was in NC. In fact it was by a kid, Conrad Reed, who found a cool looking 16 pound rock in a creek on his farm in 1799. The rock was used as a door stop until it was determined in 1801 that it was gold. But a gold rush? That depends on how you define it. Mining operations did commence at the Reed mine and other mines in the area but there was no mass rush of people to area, which defines a "Rush". Most all of the land was private property making these private mining operations. The first major gold rush was in Georgia on what was at the time open Cherokee lands. Gold was discovered near the Chestatee River in 1828 and by 1830 ten to fifteen thousand prospectors rushed to the area, which defines a "Rush". The first boom gold town was Auraria GA but it was soon over taken in size by Dahlonega 7 miles to the NW when it was named the county seat of the newly formed Lumpkin County.

Coin Finder

That the whole interest in "collecting" and "collections" of almost any kind like coins, stamps, pottery, grandmas china, hummels, old stuff...anything really would last forever. That "hobbies" would always be a thing and keep going. I think I may be wrong about that, interest in having something old or semi "rare" is waning. The whole notion of collections and collectibles is ending slowly at least for the upcoming generation. They don't care. I have overheard this hundreds of times from many different people at shops and elsewhere. It may come back in 40 or 50 years..it may not.

FredF

Stamps would come back.

(I know, you said coin-related).

Whit

Thank you JJSingleton ... interesting material ....

Hydrant

Nothing recently. Many years ago, oh yeah. Many, many, things.

coindeuce

That elmiracoin is an alt for Coinstartled.

Coinstartled

I seem to be an alt for everyone but Slide Hampton.

denali12

@JJSingleton said:

@denali12 said:
that California was the first gold rush..it was actually Charlotte in 1801..

Well...kinda...maybe...not really. You are correct that the first major discovery of gold was in NC. In fact it was by a kid, Conrad Reed, who found a cool looking 16 pound rock in a creek on his farm in 1799. The rock was used as a door stop until it was determined in 1801 that it was gold. But a gold rush? That depends on how you define it. Mining operations did commence at the Reed mine and other mines in the area but there was no mass rush of people to area, which defines a "Rush". Most all of the land was private property making these private mining operations. The first major gold rush was in Georgia on what was at the time open Cherokee lands. Gold was discovered near the Chestatee River in 1828 and by 1830 ten to fifteen thousand prospectors rushed to the area, which defines a "Rush". The first boom gold town was Auraria GA but it was soon over taken in size by Dahlonega 7 miles to the NW when it was named the county seat of the newly formed Lumpkin County.

well, i'd call 100+ mines that opened up over the next few years a "rush" and then opening a us mint to make coins of the gold a rush..

http://www.learnnc.org/lp/editions/nchist-newnation/4374
Around 1805, only a few years after Conrad’s discovery, newspapers began reporting on gold-mining activities and people coming into the area to search for gold. William Thornton, of Baltimore, Maryland, designer of the United States Capitol, was one of these seekers. After learning of the gold, he purchased thirty-five thousand acres of land in Montgomery (now Stanly) County and formed the North Carolina Gold Mine Company. By 1806, investors in this company included a former governor of Maryland and the treasurer of the United States

But then, as luck would have it, another event occurred that would greatly increase the numbers, and diversity, of people migrating to the state’s gold fields.

[b]In 1825 Matthias Barringer discovered that gold could be found in veins of white quartz, and by following these veins of quartz into the ground, one could recover more gold. Prior to this discovery, all of the mining conducted in North Carolina had been aboveground, or “placer,” mining. With Barringer’s discovery of “lode,” or underground, mining, the rush to North Carolina was on. People came from far and wide to make their fortunes. Many of the most important lode mines were located in or around Charlotte. In 1828 J. Humphrey Bissell, of Charleston, bought part of the McComb Mine and brought with him not only new technology but also “men experienced in South American mining.” At one Charlotte mine that employed almost a thousand workers, thirteen different languages were spoken. Count Vincent de Rivafinoli, an Italian aristocrat and experienced mining engineer, was one of the most cultured and flamboyant foreigners in Charlotte. As head of the Mecklenburg Gold Mining Company, he brought in as many as eighty expert miners from England, Germany, Wales, Scotland, Ireland, Switzerland, Italy, and France. [/b]

denali12

https://www.ourstate.com/north-carolina-gold-rush/

North Carolina: The Golden State

Two centuries ago, a young boy’s accidental discovery in Cabarrus County led to the first gold rush in the United States. For 50 years, North Carolina led the nation in gold production and gave a young country a new kind of wealth.

Gold fever

While rumors of gold abounded in the country, colonists never found the precious ore. Conrad Reed’s rock gave the young United States new wealth and independence from foreign countries. Everywhere, men and women turned over rocks and panned for gold, dreaming of endless riches and opportunities.

At the peak of the rush, there were more than 600 gold mines in North Carolina. From 1800 to the Civil War, gold mining ranked second only to agriculture as the state’s most economically successful industry. Entire families worked hundreds of feet below the earth’s surface in search of wealth. Many farmers worked their crops in season and panned for gold in the winter. The estimated value of gold recovered reached more than $1 million a year, and North Carolina led the nation in gold production until 1848, when the California gold rush eclipsed it. The gold found in North Carolina earned it a nickname — The Golden State — a title that would later be given to California.

Owen1793

@thebigeng said:
That the whole interest in "collecting" and "collections" of almost any kind like coins, stamps, pottery, grandmas china, hummels, old stuff...anything really would last forever. That "hobbies" would always be a thing and keep going. I think I may be wrong about that, interest in having something old or semi "rare" is waning. The whole notion of collections and collectibles is ending slowly at least for the upcoming generation. They don't care. I have overheard this hundreds of times from many different people at shops and elsewhere. It may come back in 40 or 50 years..it may not.

Odd. I'm a 19 year old Internet coin dealer, I have hundreds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

RogerB

@OwenSeymour said:

@thebigeng said:
That the whole interest in "collecting" and "collections" of almost any kind like coins, stamps, pottery, grandmas china, hummels, old stuff...anything really would last forever. That "hobbies" would always be a thing and keep going. I think I may be wrong about that, interest in having something old or semi "rare" is waning. The whole notion of collections and collectibles is ending slowly at least for the upcoming generation. They don't care. I have overheard this hundreds of times from many different people at shops and elsewhere. It may come back in 40 or 50 years..it may not.

Odd. I'm a 19 year old Internet coin dealer, I have hundreds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

This is an important comment. These are precisely the kinds of collector who do not appear on the coin-show-circuit or as ANA members or, probably, on US Mint product sales.

Do these collectors have different goals, wants and interests than the old folks who visit shows (and are most of the posters here)? What drives these collectors? How to reach out to more and build on OwenSeymour's experiences? That is where hobby growth will occur - but for now it is not being recognized or tracked...or so it appears.

Coin Finder

@OwenSeymour What coins are on your demand list for your customers?

cladking

@OwenSeymour said:

Odd. I'm a 19 year old Internet coin dealer, I have hundds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

A lot of old timers don't consider anything minted after 1964 to actually be a coin. If you factor out the part of your business that is coins after 1964 you're probably not a coin dealer at all and most of your customers are not coin collectors.

Coinstartled

I consider modern gold and silver (and gold/platinum) commems to be coins.

BLUEJAYWAY

To me,this is what's great about error coinage collecting. Even if moderns are looked upon by some as being "in the toilet" as far as being collectible, there is always the errors on them that will always be interesting/eye catching. Plus they are ignored by many and they are not widely sought out by the general public. Unless it is a really obvious one,off-centers etc.

epcjimi1

The 25 oz of 2010 / 2011 ATB silver would be worth more today than when I purchased it from an original authorized US Mint bullion seller back in the day.

JJSingleton

Hey Denali12, your posts pretty much confirm my point. I am not disputing that gold was first discovered in NC, nor am I disputing that gold mining became big business. And we are all aware a branch mint was opened in Charlotte in 1838.

What I am saying is that if you and the folks of NC want to call it a rush that's fine, But NC discovery looked nothing like what most call a gold rush in GA, CA, and AK which all looked pretty much the same. When most people think of a gold rush they think of tens to hundreds of thousands of individuals rushing to the area in hopes of striking it rich, with boom towns being established. And that was the scene in GA, CA, and AK. NC looked nothing like those. As I said in my previous post NC was mostly private property so unless one could work out a lease, or already wealthy enough to buy some land, there was no opportunity for an individual with a pick, shovel, and pan to strike it rich. They would have been shot before they got their pan in the water. As your posts affirm most of the mining was either by large land owners who hired outsiders to run their mines, or by the land owner, typically a farmer, who worked the mine with their family. I do not dispute that some laborers migrated to the area looking for work because of the gold, but there was very little chance for them to become rich. They could only make the landowner/ mine owner rich.

I should add that many of these mine workers in NC rushed to Georgia joining the other 29ers because they had the chance to strike it rich. And many did pretty well because they had the skills that most of the 29ers lacked.

WingedLiberty1957

My initial impression of TPG's when I first got back into coins in 2011 ...
"The Great and Powerful Oz"

How it seems now ... LOL ...
"Pay no attention to that man behind the curtain"

This was probably my fault more than the TPG's.

lkeigwin

WL, with your photoshop skills you could have changed the face in the first picture. I mean if you're gonna risk a bam why not go all the way?
Lance.

KellenCoin

That all numismatists were nice to incomers.

denali12

@JJSingleton said:
Hey Denali12, your posts pretty much confirm my point. I am not disputing that gold was first discovered in NC, nor am I disputing that gold mining became big business. And we are all aware a branch mint was opened in Charlotte in 1838.

What I am saying is that if you and the folks of NC want to call it a rush that's fine, But NC discovery looked nothing like what most call a gold rush in GA, CA, and AK which all looked pretty much the same. When most people think of a gold rush they think of tens to hundreds of thousands of individuals rushing to the area in hopes of striking it rich, with boom towns being established. And that was the scene in GA, CA, and AK. NC looked nothing like those. As I said in my previous post NC was mostly private property so unless one could work out a lease, or already wealthy enough to buy some land, there was no opportunity for an individual with a pick, shovel, and pan to strike it rich. They would have been shot before they got their pan in the water. As your posts affirm most of the mining was either by large land owners who hired outsiders to run their mines, or by the land owner, typically a farmer, who worked the mine with their family. I do not dispute that some laborers migrated to the area looking for work because of the gold, but there was very little chance for them to become rich. They could only make the landowner/ mine owner rich.

I should add that many of these mine workers in NC rushed to Georgia joining the other 29ers because they had the chance to strike it rich. And many did pretty well because they had the skills that most of the 29ers lacked.

Good points jj singleton.. Just think when have 600 mines and some employ 1,000+ workers and speaking 13 languages there,, you have a lot of people.. a lot of diversity from all around the world there... Guess maybe 'semantics" on what is "classified" as a "gold rush".. and like many areas of collecting the terms can be different for many

ricko

Nothing in the last ten years that I can think of.... I remember a distinct feeling of disappointment when I found out that machine or shelf doubling was not doubled die.... but that was long ago... Cheers, RickO

mr1931S

that I would find a 1909-S V.D.B. penny in circulation

topstuf

That the open forum would return to this august forum.

Even if it's still March.

TequilaDave

If I search enough bank rolls I'll find a 1969-S DDO

oih82w8

That everybody appreciates varieties.

ctf_error_coins

@denali12 said:
that California was the first gold rush..it was actually Charlotte in 1801..

Well as a new to the hobby gold miner, with all the research I have done, the above statement is incorrect.

The first Gold Rush was in the California Desert in 1775.

I believe I also heard / read that the area had been worked since the 1600's with the Spanish using indians as slave labor until the indians revolted killing the missionary's.

Last weekend I worked my mine on my claim which is where the first gold rush was.

Owen1793

@cladking said:

@OwenSeymour said:

Odd. I'm a 19 year old Internet coin dealer, I have hundds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

A lot of old timers don't consider anything minted after 1964 to actually be a coin. If you factor out the part of your business that is coins after 1964 you're probably not a coin dealer at all and most of your customers are not coin collectors.

I'll be sure to scribble that one down. Because some old ignorant dude doesn't care to make money in a series that he doesn't "call a coin" makes alot of coin dealers... not coin dealers? Oh well. I guess it's good that 99%+ of the material I deal in is pre64. I'm still a coin dealer!! And by the way I have a PCGS Keychain so I'm obviously a coin dealer!

Twobitcollector

That B&M coin dealers are friendly, helpful people

Owen1793

@RogerB said:

@OwenSeymour said:

@thebigeng said:
That the whole interest in "collecting" and "collections" of almost any kind like coins, stamps, pottery, grandmas china, hummels, old stuff...anything really would last forever. That "hobbies" would always be a thing and keep going. I think I may be wrong about that, interest in having something old or semi "rare" is waning. The whole notion of collections and collectibles is ending slowly at least for the upcoming generation. They don't care. I have overheard this hundreds of times from many different people at shops and elsewhere. It may come back in 40 or 50 years..it may not.

Odd. I'm a 19 year old Internet coin dealer, I have hundreds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

This is an important comment. These are precisely the kinds of collector who do not appear on the coin-show-circuit or as ANA members or, probably, on US Mint product sales.

Do these collectors have different goals, wants and interests than the old folks who visit shows (and are most of the posters here)? What drives these collectors? How to reach out to more and build on OwenSeymour's experiences? That is where hobby growth will occur - but for now it is not being recognized or tracked...or so it appears.

There's some "laid back" collectors and some hardcore, just like I'd imagine any other age group. You'd be surprised how similar the interests are. Early large cents are extremely hot. I can't remember the last time I had an early large cent in inventory for more than 12 hours. Pretty much any early 1c, 25c, 50c, $1 are all very high demand. I think one thing that brings them together is there isn't many grouchy old collectors to insult them on the Internet lol. (Not saying all older collectors are mean but there's a few that love to just insult younger people.) On instagram there's a really massive, tight knit community of collectors and dealers who are selling, buying, and simply admiring others coins. If you truly want to get engaged with youth i would be glad to give you a shout out on instagram to Kickstart your following.

Owen1793

@thebigeng said:
@OwenSeymour What coins are on your demand list for your customers?

It's pretty diverse. Like I mentioned in a previous comment, anything early- 1c, 25c, 50c, and $1. UNC barber 25c, 50c. Proof type, and beautifully toned coins have insane demand. I also have a few guys who spend more, looking for top pop Franklins & JFK's, aswell a guy looking for slugs.

Owen1793

.

Owen1793

Now that I've done enough rambling I suppose I'll contribute to the thread topic. How about that most dealers are inherently evil and greedy people? Most dealers are genuinely nice people with fair business practices.

Owen1793

.

epcjimi1

I still can't get over this one. Ignorance is one of the main reasons why at 19, being a self made coin dealer has been as lucrative as it has been. I love people like you. More money for me. Just made $18,000 in top pop/near top pop kennedys from one 22 coin submission. But I guess those aren't anything of substance according to you ahahaha

Shark Tank!

Owen1793

@cladking said:

@OwenSeymour said:

Odd. I'm a 19 year old Internet coin dealer, I have hundds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

A lot of old timers don't consider anything minted after 1964 to actually be a coin. If you factor out the part of your business that is coins after 1964 you're probably not a coin dealer at all and most of your customers are not coin collectors.

Also just now taking in your profile name. Hopefully your comment was rooted in sarcasm lol, my sarcasm detector wasn't turned on.

roadrunner

@OwenSeymour said:

@thebigeng said:
That the whole interest in "collecting" and "collections" of almost any kind like coins, stamps, pottery, grandmas china, hummels, old stuff...anything really would last forever. That "hobbies" would always be a thing and keep going. I think I may be wrong about that, interest in having something old or semi "rare" is waning. The whole notion of collections and collectibles is ending slowly at least for the upcoming generation. They don't care. I have overheard this hundreds of times from many different people at shops and elsewhere. It may come back in 40 or 50 years..it may not.

Odd. I'm a 19 year old Internet coin dealer, I have hundreds of consistent customers & over 6,000 followers on instagram. Most of my customers are 12-21. Brick and mortar coin shops & coin shows are dying, sure. Young people being interested in coins? My problem is I can't buy enough coins to feed the demand.

I'd like to know what you offer your customers that a typical Brick and Mortar shop, regular coin show dealer, or other long time internet coin dealers can't offer their customers.

Fwiw, Cladking specializes in many post 1964 issues, some of them in the highest grades possible....hence Clad King.

There have been more Alt ID's around the forum the past 3-5 months than at any time I can think of in the past 15 years.