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Whose estimate?
TigersFan2
Posts: 1,442 ✭✭
On page 26 of the September 2016 issue of "The Numismatist," the article at the bottom of the page states, "Castle's crowning achievement is the 50 States Quarters program, which netted nearly $7 billion in profit for the U.S. government and created an estimated 150 million casual coin collectors."
Given that the population of the U.S. is a little north of 300 million, on what basis (Jack Daniels?) is the author giving credit to the State Quarters program for making roughly half the population of the U.S. casual coin collectors? What is the definition of a "casual coin collector?" I doubt many outside the U.S. became casual coin collectors from the State Quarters program.
Now as far as netting nearly $7 billion in profit, this averages out to around $23/person for every man, woman and child in the country. This is probably referring to being require to buy an additional 4 quarters each year in the proof set and an additional 8 quarters in the mint set. This $7 billion number makes sens if 10 years of people paying higher prices for mint and proof sets, even if a small fraction of the country was buying them.
The 150 million number just doesn't pass the laugh test.
Given that the population of the U.S. is a little north of 300 million, on what basis (Jack Daniels?) is the author giving credit to the State Quarters program for making roughly half the population of the U.S. casual coin collectors? What is the definition of a "casual coin collector?" I doubt many outside the U.S. became casual coin collectors from the State Quarters program.
Now as far as netting nearly $7 billion in profit, this averages out to around $23/person for every man, woman and child in the country. This is probably referring to being require to buy an additional 4 quarters each year in the proof set and an additional 8 quarters in the mint set. This $7 billion number makes sens if 10 years of people paying higher prices for mint and proof sets, even if a small fraction of the country was buying them.
The 150 million number just doesn't pass the laugh test.
I love the 3 P's: PB&J, PBR and PCGS.
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Given that the population of the U.S. is a little north of 300 million, on what basis (Jack Daniels?) is the author giving credit to the State Quarters program for making roughly half the population of the U.S. casual coin collectors? What is the definition of a "casual coin collector?" I doubt many outside the U.S. became casual coin collectors from the State Quarters program.
I'm not defending the statistic, but you might be surprised how many collectors outside the US there are. No, I also doubt that half of the US population took up coin collecting on even the most casual basis, and like you, I doubt the number of collectors of them outside the US squares the account either, but there are probably more outside the USA than you think, is all I'm saying.
Collector since 1976. On the CU forums here since 2001.
Remember everyone starts somewhere....
coinzip.com
How many 'casual collectors' bought statehood quarter from TV hucksters? By the millions!
Then there were school projects for the kids...first to bring in the next quarter.
Then just about everyone collected their own state quarter...just one (1) quarter and they were classified as 'casual collector'
So yeah, their figure is probably correct but their definition of collector is way different than a numismatists opinion of a collector.
Hype...yes and know. Truth...yeas and no.
"Keep your malarkey filter in good operating order" -Walter Breen
But, by our idea of what a collector should be, it is likely much less.
Although, I still believe that there are a lot of serious collectors out there, contrary to many others' opinions that the hobby is in decline; I don't believe that it is waning.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
K
Andrew Blinkiewicz-Heritage
Steve
work with that collected either from change or banks. Most did not realize that
there was a "D" mint mark to be had. Latter on they quit and just spent them.
I did buy several rolls at face to keep for my grandson.
I'm a casual seashell, mineral, fossil, and artifact collector, but so what? I never buy them,
so I don't "matter" at all to the market for nice, expensive ones.
... unless, of course, someday I decide that I'd like a couple better ones..
and then maybe a couple more..
Liberty: Parent of Science & Industry
We here at the Center of the Numismatic Universe have a bit of a skewed viewpoint when compared to the larger hobby.
X = number of casual collectors before the 50 State Quarters Program
X + 150,000,000 = number of casual collectors after the 50 State Quarters Program
I suggest that based on the very broad definition of the term "casual collector" implied by the article, than X was already a very large number before the 50 State Quarters program.
Well, just Love coins, period.