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Coin values when us Old Geezers die off?
Neca63
Posts: 350
So, what will happen to the values of our prized coin possessions when us baby boomer Old G's pass away?
The last coin club meeting that I went to had ZERO young people in attendance.
The youngest there was well into his forties.
The last coin show I walked through had no youngsters. Zip, zero, nada.
Who is going to carry on the joy and insanity of paying tens of thousands of dollars for a nickel or dime when we are gone?
Maybe kids today have so little interest in coinage because coins today have so little face value and everything is now electronic?
When was the last time your kid had the pleasure of buying a pop or a candy bar with a coin?
Perhaps the future will create some sort of electronic cash collectibles for them to pursue.
Rare electronic bit coins maybe?
They could track back and value the bit coin by who originally bought and owned it, and then we could get it certified and issue a certificate of authenticity. IE...This certificate guarantees that Bud Fox owns bit coin number 13ynbkl2566373byuyf7898333i00pkop0009488byt i983n'lknci84yu.
They could then grade the condition of the certificate to insure that it is real and the finest known.
Of course, they would also need to encapsulate the certificates in plastic to protect them and guarantee that they are real.
They may even pay more for the ones that were originally issued in a given month, say a May one , or maybe September for example.
They could also pay a premium value for those certified and encapsulated electronic bit coins certificates if the original owners name was Harley, or Bud.
And of course, we could send those collector values skyrocketing if they had the certificates put into special plastic on a given Friday or maybe a Tuesday.
Maybe the next big thing will be collectible plastic debit cards with so and so's face, name, logo, date, or store label on it?
They may even see private plastic or metal coinages as the value of our Government issued fiat junk continues it's downward slide.
Meanwhile, what can we expect from the future value of our coins if collector rarity exceeds coin rarity?
I wonder why kids these days have so little interest?
The last coin club meeting that I went to had ZERO young people in attendance.
The youngest there was well into his forties.
The last coin show I walked through had no youngsters. Zip, zero, nada.
Who is going to carry on the joy and insanity of paying tens of thousands of dollars for a nickel or dime when we are gone?
Maybe kids today have so little interest in coinage because coins today have so little face value and everything is now electronic?
When was the last time your kid had the pleasure of buying a pop or a candy bar with a coin?
Perhaps the future will create some sort of electronic cash collectibles for them to pursue.
Rare electronic bit coins maybe?
They could track back and value the bit coin by who originally bought and owned it, and then we could get it certified and issue a certificate of authenticity. IE...This certificate guarantees that Bud Fox owns bit coin number 13ynbkl2566373byuyf7898333i00pkop0009488byt i983n'lknci84yu.
They could then grade the condition of the certificate to insure that it is real and the finest known.
Of course, they would also need to encapsulate the certificates in plastic to protect them and guarantee that they are real.
They may even pay more for the ones that were originally issued in a given month, say a May one , or maybe September for example.
They could also pay a premium value for those certified and encapsulated electronic bit coins certificates if the original owners name was Harley, or Bud.
And of course, we could send those collector values skyrocketing if they had the certificates put into special plastic on a given Friday or maybe a Tuesday.
Maybe the next big thing will be collectible plastic debit cards with so and so's face, name, logo, date, or store label on it?
They may even see private plastic or metal coinages as the value of our Government issued fiat junk continues it's downward slide.
Meanwhile, what can we expect from the future value of our coins if collector rarity exceeds coin rarity?
I wonder why kids these days have so little interest?
0
Comments
Better, slabbed coins will continue to do well. Common, melt plus pieces that clog the bowels of numismatic shows will languish in the way that non rare stamps have over the last generation.
Liberty: Parent of Science & Industry
they could put First Time Graded instead. lol
<< <i>I wonder why kids these days have so little interest? >>
Simple. Price.
<< <i>
<< <i>I wonder why kids these days have so little interest? >>
Simple. Price. >>
Oh come on....kids in the 60's were picking Lincoln's out of circulation and putting them in a Whitman folder. Price is no obstacle when individuals have a real interest,
When the kids become the geezers, some will take over for us geezers now. Always been that way, no reason to think it will change or will need to change.
It does make me wonder if our kids think that the enclosed metal inside is just unnecessary.
<< <i>When I was a kid kid's checked change to fill slots in our blue Whitman folders. I never knew people bought coins until years later. We had a chance to find good coins in change. Not much chance of that today. >>
Disagree. Many folks in Tucson found extra leaf Wisconsin quarters in change a decade ago.
<< <i>The concern by the OP is quite over blown. Consider this in 1985 the number of student in anthropological studies at leading universities was less than eleven per graduate year and now? Well in excess of 2500 per graduate year. What is even more shocking is the number of Forensic Psychologists up 4500% over the past 10 years alone. What is my point? They will study the behavior patterns of the "ol geezer" crowd and their sociological or ill logical norms and habits as they pertain to individual cerebral pursuits. Some will go on to achieve Doctorate degrees in specialized areas of these pursuits. i.e. B&W photo and evolution to Color Photo, PCGS rattler's solution, NGC advent of competion with no line fatties, doilies, lined fatties, market grading, plus and star grading, coin show rips, OGH phenomenon, tightening and loosening of grading, Market grading, anacs small holders, larger white holders, blue holders, green holders and then First Strike modern coin investing and 2 a.m. coin hustlers MS70, Prf 70 designations and finally jackasses who byte your head off if your new around the community along with dealers at large conventions who shout out and bark dissention as you reach for your grey sheet to check a price...........Yeah, these children, the next two generations will be filling museums with displays of what the "hobby" was all about..........I am sure of it. They will grasp it easily and embrace it easier than their huge salaries and bright futures dictate. Stretching for that special doily green rattler color photo MS 70 First Strike 3/4 ounce hooligan indigent persons first coin purchase from the windy city. Yeah, I can see it now. >>
Gee, I never thought of it that way. LOL
<< <i>
<< <i>I wonder why kids these days have so little interest? >>
Simple. Price. >>
I don't really agree -- depends on what the kid wants to collect. When I turned about 13 and was interested in coin collecting for the first time, I SO wanted to get an Indian $2.50, or a 1909-S VDB, or any number of other "special" pieces in the Redbook that caught my eye. But what I actually bought was as far as my allowance could take me, and it was fun. Even then, and now, I had no notion that I'd ever be able to afford a Pan-Pac $50, for example, but that's easily remedied with a lotto win. Should that never come to pass, I'll still enjoy collecting what and as I can.
If you want to get the younger crowd interested in numismatics, take the time to learn what they are interested in, then find a way to associate numismatics with that interest.
For example, I love computers so the association of computers, websites, technology gadgets combined with coins works well for me. At coin shows youngsters approach my display and pick up the Dino-Lite and start using it, the parents usually say "Don't Touch," and I say its ok to touch if its ok with mom or dad, that's why they are there.
Today youngsters are more comfortable with technology gadgets than their parents are, they have been a big part of their lives from day one. Long story short in general, if there is an app they can download on their phone they will use it, if they have to leaf through a book they won't.
Coin Club Benefit auctions ..... View the Lots
What's the point? I have almost always had the coin collecting bug. It started when I went through my Father's change daily. I noticed that some coins weren't like the others. I was able to set aside the coins that were different than others as long as I replaced them with my own "normal" coins. I have tried to pass on this passion to the younger ones, but to no avail.
So here's the upshot: If you are worried about the future of your collection, then catalog them. Leave your coins to someone you love as well as the tools to understand at least the values of them. If they choose to liquidate them, so be it. I've enjoyed them and I pass them on with no strings attached.
for our generation. Maybe the younger ones can see this for what it is. For sure they don't have $20,000 to sink
into some $1 Coin just because it's 200 years old and brightly colored like an Easter Egg.
Maybe we all better plan on being burried with our Treasures. No one from later generations will value them
like we do.
Will it be like the stamp hobby?
I don't know, but somewhat I'm sure of that.
The age group of attendees at coin shows is creeping up in age and mostly grey haired men at that, if they have any hair at all.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
World Collection
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German States Collection
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<< <i>I bought an inexpensive metal detector (Radio Shack) when I was a young in an effort to find coins that I otherwise couldn't afford. My paper route enabled me to pore through tons of "collection change" looking for wheaties, buffs, Indians and silver coins.
What's the point? I have almost always had the coin collecting bug. It started when I went through my Father's change daily. I noticed that some coins weren't like the others. I was able to set aside the coins that were different than others as long as I replaced them with my own "normal" coins. I have tried to pass on this passion to the younger ones, but to no avail.
So here's the upshot: If you are worried about the future of your collection, then catalog them. Leave your coins to someone you love as well as the tools to understand at least the values of them. If they choose to liquidate them, so be it. I've enjoyed them and I pass them on with no strings attached. >>
Pretty good attitude to take, crispy -- thanks for posting it.
No money for coins.
Box of 20
<< <i>You can thank the U.S. Mint for keeping the hobby alive. The U.S. Mint introduces new collectors to the hobby everyday and possibly to classic coin collecting. >>
I think this is very true.
https://imdb.com/name/nm1835107/
<< <i>With us baby boomers having to work into our 70's and 80's to hold down the fort, ask again in 20 years. >>
Good point.
<< <i>The concern by the OP is quite over blown. Consider this in 1985 the number of student in anthropological studies at leading universities was less than eleven per graduate year and now? Well in excess of 2500 per graduate year. What is even more shocking is the number of Forensic Psychologists up 4500% over the past 10 years alone. >>
You have hollywood to thank for this. Because of TV shows like CSI, CSI Miami, CSI New York, Dexter, .....the list goes on and on; that's why forensic psychologists are through the roof at universities.
I'm working on this though. With my wife, we are developing both a "reality" show about coins and writing a script for a film. I thought you guys would find that interesting based on the topic. My goal for the show is to get more people interested about coins and to teach them tons while making it lots of fun. The movie is about a coin collector and it is a drama. That is all I can say to protect myself at this time. But just know that I'm doing this because I want to excite new eyes, both young and older, as to our awesome hobby/love.
FYI- I will need help. There are some of you I may call upon for help on one of these in the future. I'll keep you more informed soon.
https://imdb.com/name/nm1835107/
Speaking of TV and coin collectors, one of my very favorite examples (since we're talking dramatic TV) was a Rockford files episode where Jim posed as a rich Texas-style oil tycoon looking for advice about collecting rare coins. He was after the rare coin dealer (played very well, and very true-to-life, IMO) villain of the episode, who was in fact, a hitman! I LOL'd on the first viewing and still do -- I just know some of the coin dealers I know would make excellent "button guys." No one would ever suspect!
<< <i>
<< <i>Student loans. Get them in debt and keep them in debt. It is the American way.
No money for coins. >>
Student loans wouldn't be such an issue if the middle class had not shrunk so much. >>
Better to avoid excess student loan debt whenever possible. Something we'll try to instill in, and save for, to help our young daughter.
<< <i>I wish you luck Bodin.
Speaking of TV and coin collectors, one of my very favorite examples (since we're talking dramatic TV) was a Rockford files episode where Jim posed as a rich Texas-style oil tycoon looking for advice about collecting rare coins. He was after the rare coin dealer (played very well, and very true-to-life, IMO) villain of the episode, who was in fact, a hitman! I LOL'd on the first viewing and still do -- I just know some of the coin dealers I know would make excellent "button guys." No one would ever suspect!
I remember that episode. The antagonist travels to "purchase coins" all the while performing hits. Loved the Rockford Files and have it on DVD. When James Garner passed away recently, my kids broke the news gently to me as if he were a family member. They of course, knew I was fond of the actor.
<< <i>
<< <i>
<< <i>Student loans. Get them in debt and keep them in debt. It is the American way.
No money for coins. >>
Student loans wouldn't be such an issue if the middle class had not shrunk so much. >>
Better to avoid excess student loan debt whenever possible. Something we'll try to instill in, and save for, to help our young daughter.
My nephew just started college a few weeks ago. He is taking all of his required courses at the local junior college and has received great support for making such a decision. He isn't going to have to pay for a $4 million per year football coach.
-Steve
Member ANA, SPMC, SCNA, FUN, CONECA
<< <i>Look at the old auction photos. A hundred years ago, it was all old guys collecting. And it still is. >>
Hey I'm only 32...
Latin American Collection
Aren't we attending a virtual coin club meeting right now?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>The last coin club meeting that I went to had ZERO young people in attendance.
Aren't we attending a virtual coin club meeting right now? >>
Great point
Latin American Collection
<< <i><< Student loans. Get them in debt and keep them in debt. It is the American way.
No money for coins. >>
Student loans wouldn't be such an issue if the middle class had not shrunk so much. >>
Better to avoid excess student loan debt whenever possible. Something we'll try to instill in, and save for, to help our young daughter. >>
We started saving from day 1 for both our daughters.....zero coupon bonds, prepaid tuition programs, gtma's, later 529b's when they became available. Busted their butts and got scholarships, internships, worked part time, worked as RA's etc. The oldest had $40k in the bank at graduation.
The youngest will be almost as well off. Meanwhile they have friends who take out student loans then buy new Cooper Mini's and go on lavish vacations....why not? Their parents drove new Infinities and lived in McMansions....The next big loan debacle will be the $trillion student loan debt that will never be repaid, resulting in new laws, loan forgiveness and writeoffs.....
<< <i>The last coin club meeting that I went to had ZERO young people in attendance.
Aren't we attending a virtual coin club meeting right now? >>
Yeap, and I don't consider 50 or 60 old !! I bet allot of dealers are pushing 80 at the last show I went to !!
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
I will say that it would be refreshing to have a some new designs come through. It's fun for someone of my age to imagine growing up in the 40's/50's and still finding some early 19th century coins in circulation. Some new designs would definitely bring back some interest in that respect imo.
<< <i>
I will say that it would be refreshing to have a some new designs come through. It's fun for someone of my age to imagine growing up in the 40's/50's and still finding some early 19th century coins in circulation. Some new designs would definitely bring back some interest in that respect imo. >>
All the scarce coins were already long gone by the time I started collecting in 1957. Indeed, the
old coins were pretty much gone as well and the oldest thing you were likely to find other than culls
was a 1892 Columbian half dollar; a mere 65 year old coin. Today not only are the oldest coins in
circulation much older than this but in some cases the average coin is older than this. Nickels back
to 1939 are easily found and this is 75 years old. Cents back to 1919 are seen with some regularity
and are 95 years old. Quarters back to 1965 are half a century and in 1957 the oldest dated quarters
were from 1925 or only a mere 32 years old.
Most will say that you can't get any rarity today but the exact opposite is the reality. People saved all
the old coins in high grade and then they removed nicer examples from circulation as they wore out,
but today no one saved any of the coins so they might not exist in pristine condition or even VF.
Maybe horses don't even recognize water until their noses are thrust in it. People just don't seem to
recognize "new" coins as being coins at all.
Perhaps they never will.
I certainly sympathize with your perspective and I've always been wistful about growing up in the 1920's
with an 1890's attitude. I can never experience the 1920's but I have the 1890's attitude.
...And there were great coins circulating in the 1920's... ...almost as good as today!
<< <i>
<< <i><< Student loans. Get them in debt and keep them in debt. It is the American way.
No money for coins. >>
Student loans wouldn't be such an issue if the middle class had not shrunk so much. >>
Better to avoid excess student loan debt whenever possible. Something we'll try to instill in, and save for, to help our young daughter. >>
We started saving from day 1 for both our daughters.....zero coupon bonds, prepaid tuition programs, gtma's, later 529b's when they became available. Busted their butts and got scholarships, internships, worked part time, worked as RA's etc. The oldest had $40k in the bank at graduation.
The youngest will be almost as well off. Meanwhile they have friends who take out student loans then buy new Cooper Mini's and go on lavish vacations....why not? Their parents drove new Infinities and lived in McMansions....The next big loan debacle will be the $trillion student loan debt that will never be repaid, resulting in new laws, loan forgiveness and writeoffs..... >>
Good for you, and them! We hope to emulate.