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We need passionate collectors to step up to the plate

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  • joeykoinsjoeykoins Posts: 17,544 ✭✭✭✭✭
    edited December 30, 2016 11:06AM

    @coinkat said:
    Burns has done Jazz, Baseball, the Civil War among others... It may be that he would not want to do it, but it could be undertaken by someone else. I suspect Burns would have an interest if approach by the right people with the commitment that resources would be available through the ANA, the Smithsonian, the US mint, the mint museums at the New Orleans and Carson City mints. The type of resources that could and should be available would making creating this documentary a tremendous opportunity for someone. Burns would likely be the best choice but certainly not the only choice. The goal would be to have a 4-6 part series (whatever would be reasonably needed) aired on PBS, with the series eventually being available on disc.

    Oh Dennis and Fred-d-d-d?

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    edited December 30, 2016 11:21AM

    @joeykoins said:

    @coinkat said:
    if approach by the right people with the commitment that resources would be available through the ANA, the Smithsonian, the US mint, the mint museums at the New Orleans and Carson City mints. >

    Oh Dennis and Fred-d-d-d?

    As much as I'd like PBS + Ken Burns to educate the American public of their numismatic history...

    it ain't going to happen. Too dull a subject, Too unobtainable a collectible goal. Geez, the way I understand it, students can't pay off loans and live in their parents homes until the age of 26.

    At best, a one off special.

  • BAJJERFANBAJJERFAN Posts: 31,305 ✭✭✭✭✭

    @epcjimi1 said:

    @joeykoins said:

    @coinkat said:
    if approach by the right people with the commitment that resources would be available through the ANA, the Smithsonian, the US mint, the mint museums at the New Orleans and Carson City mints. >

    Oh Dennis and Fred-d-d-d?

    As much as I'd like PBS + Ken Burns to educate the American public of their numismatic history...

    it ain't going to happen. Too dull a subject, Too unobtainable a collectible goal. Geez, the way I understand it, students can't pay off loans and live in their parents homes until the age of 26.

    At best, a one off special.

    You can be a legal dependent until age 26 apparently.

    theknowitalltroll;
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    edited December 30, 2016 11:46AM

    @BAJJERFAN said:

    You can be a legal dependent until age 26 apparently.

    Yeah, whatever. I got kicked out @ 18 yr old. Made my way. MHO.

    I don't need Ken Burns telling me anything or PBS, for that matter.

  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭

    @1Mike1 said:
    I think there are plenty of passionate collectors, just not enough of them with enough disposable income.

    EXACTLY! You don't have to be rich to be a passionate collector.

  • Desert MoonDesert Moon Posts: 5,990 ✭✭✭✭✭

    @STEWARTBLAYNUMIS said:
    I will say unequivocally that the only dealer who concentrates on developing new
    Passionate collectors is Legends Laura Sperber. She is the most passionate coin weenie in the business. We need others !

    Stewart

    While that may be true, it is only a certain type of collector, one that is very wealthy for the most part, that she does buisness with and develops into new collectors. This group is a very small minority of the total amount of people involved in numismatics and won't solve the problem of fewer collectors.

    Best, SH

    My online coin store - https://desertmoonnm.com/
  • BLUEJAYWAYBLUEJAYWAY Posts: 10,086 ✭✭✭✭✭

    In regard to a Ken Burns type of presentation. It might be an easier sell to a producer of a series/show if the currency system (Coins and Paper) as a whole and it's related history were pitched. True, coins would "share the limelight" with paper in such a show,but incorporating both would initially reach a broader audience to be drawn in. And then, who knows people who tune into a show on both with just an initial interest in paper, might be converted to coins. I would not only feature the minting process and history of some historic coins (1913 Liberty Nickels and the like), but the many individuals (rogues,characters,etc.) and events related/intertwined with coins. Sinking galleons (S.S.Central America)robberies,mysteries, etc. I think the stressing of history tied into the history on the minting process is where the allure might appeal to a would be collector. This is what appeals to me. Wondering what led up to the coin I now hold in my hand.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • NapNap Posts: 1,755 ✭✭✭✭✭
    edited January 2, 2017 7:19AM
  • breakdownbreakdown Posts: 2,258 ✭✭✭✭✭

    Mr eureka makes some excellent points. i think it is difficult for some to be happy with their coins because the Internet has so many reminders of how much better their coins could be.

    "Look up, old boy, and see what you get." -William Bonney.

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭

    @breakdown said:
    Mr eureka makes some excellent points. i think it is difficult for some to be happy with their coins because the Internet has so many reminders of how much better their coins could be.

    It's important to find some collecting goals within your budget that you can be happy and proud of.

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited December 31, 2016 8:53AM

    Is the original post about passionate collectors of any level, or specifically passionate collectors that are also wealthy?

    The title doesn't specifically mention wealthy but many posts seem to lean that way.

  • yosclimberyosclimber Posts: 5,046 ✭✭✭✭✭
    edited December 31, 2016 12:33AM

    Here's a 2001 article by folks at Heritage which looks at some simple demographic trends of US coin collectors:
    https://coins.ha.com/ref/demographics.zx
    They discuss how kids who collect tend to let their collecting go dormant in high school / college, but then a sizable fraction of them may restart collecting when they graduate from college and are gainfully employed.
    They give some estimates of the number of US coin collectors:
    1978: 6 million
    1998: 2 million
    2001: 60 million (apparently kids collecting the US State quarters)

    If the kids collecting in 2001 had median age 10 or so, they will be age 30 in 2021, and some fraction will be restarting their collections.
    So it seems there is reason to expect the number of adult US collectors to increase by 2021.
    These folks won't be wealthy and buying the most valuable coins at first, but some of them may be wealthy by age 55 or so.

  • STEWARTBLAYNUMISSTEWARTBLAYNUMIS Posts: 2,697 ✭✭✭✭

    Perhaps Collectors Universe can finance a documentary on collectors and collecting
    with a primary focus on coin collecting. There are some colorful characters, some fascinating stories and both wealthy and not so wealthy collectors. I'll bet some people didn't realize I
    Collect salt and pepper shakers !
    I would love to hear some of the stories that can not be published on these forums.
    PCGS could use some of the profits from their grading fees.
    Some of the stories from David Hall, Kevin Lipton, Jim Halperin would surely entertain.

  • pruebaspruebas Posts: 4,650 ✭✭✭✭✭
    edited December 31, 2016 7:36AM

    @STEWARTBLAYNUMIS said:

    PCGS could use some of the profits from their grading fees.
    Some of the stories from David Hall, Kevin Lipton, Jim Halperin would surely entertain.

    Ah, no. As a shareholder, I'd vote that they use their profits to continue to improve their product and services to submitters (as they are currently doing).

    Leave the stories for the publishers to deal with. PCGS isn't in the entertainment business.

  • 1Mike11Mike1 Posts: 4,427 ✭✭✭✭✭

    @Zoins said:
    Is the original post about passionate collectors of any level, or specifically passionate collectors that are also wealthy?

    The title doesn't specifically mention wealthy but many posts seem to lean that way.

    BUT Stewart's opening post is,
    "Perhaps Donald Trump will start a coin collection
    There are so many wealthy people in America
    Perhaps PCGS can plant some seeds
    Or do some recruiting"

    "May the silver waves that bear you heavenward be filled with love’s whisperings"

    "A dog breaks your heart only one time and that is when they pass on". Unknown
  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited December 31, 2016 9:34AM

    @1Mike1 said:

    @Zoins said:
    Is the original post about passionate collectors of any level, or specifically passionate collectors that are also wealthy?

    The title doesn't specifically mention wealthy but many posts seem to lean that way.

    BUT Stewart's opening post is,
    "Perhaps Donald Trump will start a coin collection
    There are so many wealthy people in America
    Perhaps PCGS can plant some seeds
    Or do some recruiting"

    Yes, good point. That should be, the "OP title" doesn't mention wealthy.

    It seems like many of the responses have been about less wealthy collectors, not of the levels that Stewart was talking about, e.g. Naftzger, Pogue, Gardner, etc. Given that many wealthy collectors have left the market, it is an interesting question on who will replace them, if anyone. If no one replaces them, that's a very interesting situation too.

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited December 31, 2016 9:35AM

    @pruebas said:

    @STEWARTBLAYNUMIS said:

    PCGS could use some of the profits from their grading fees.
    Some of the stories from David Hall, Kevin Lipton, Jim Halperin would surely entertain.

    Ah, no. As a shareholder, I'd vote that they use their profits to continue to improve their product and services to submitters (as they are currently doing).

    Leave the stories for the publishers to deal with. PCGS isn't in the entertainment business.

    Actually, I have to say I'm a huge fan of PCGS Books Online and have learned interesting details about numerous people from reading them. The online books are very convenient. Of course, these are written and published by others, just put online by PCGS.

    Nothing wrong with PCGS using a bit of their profits to build their customer base, which in turn will generate more profits. It can come out of the marketing budget.

  • tradedollarnuttradedollarnut Posts: 20,200 ✭✭✭✭✭

    @spacehayduke said:

    @STEWARTBLAYNUMIS said:
    I will say unequivocally that the only dealer who concentrates on developing new
    Passionate collectors is Legends Laura Sperber. She is the most passionate coin weenie in the business. We need others !

    Stewart

    While that may be true, it is only a certain type of collector, one that is very wealthy for the most part, that she does buisness with and develops into new collectors. This group is a very small minority of the total amount of people involved in numismatics and won't solve the problem of fewer collectors.

    Best, SH

    The first coin I bought from Legend was for $3500 and my net worth at the time was maybe $100k.

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  • oldgoldloveroldgoldlover Posts: 429 ✭✭✭

    If numerous collectors entered the coin collecting arena it would be bad for those without significant amounts of money to buy the higher end of the market. I collected Indian artifacts ( prehistoric ) and for several years it was a hobby almost all people could afford to participate it. All the sudden the trust fund babies started attending shows and buying nice artifacts, pushing the price out of reach for those who work for a living. The hobby consolidated as the long time collectors no longer could compete with collectors with tremendous amounts of many. The low end of the market will not move but the rare lower pop coins will be bid out of reach. What amazed me is when one of the new collectors wanted something and money was no object as they did not appreciate money and its only use was to acquire a quality artifact no matter what the price. Some nice rare points went from $300 to $3,000 in a period of about 8-10 years. I collected them as I enjoy Texas prehistory and have since I was 8 years of age. I had a very nice collection but a buyer surfaced and offered me a tremendous amount of money for my collection. Had I turned him down that would have been a situation where two fools met. With three kids and college ahead of me I sold. I also exited the hobby as a collector because of the greed and prices driven high. I was amazed how greedy a person with seemingly unlimited resources can get. The artifact hobby has never been the same and never will. Do I like to see growth, of course. But I also want to be able to acquire more rare coins but cannot compete with people with trust funds with eight figure asset vales in them. It will probably come as the baby boomers are unloading their Harleys and muscle cars and returning to the hobby they enjoyed as a kid. Those same people are inheriting between $8-10 trillion now and some will go into quality, rare American coins. When the global economy improves and the wealthy Chinese, Korean, etc. buyers enter the U.S. coin market prices for the high end will be bid up. I cannot blame the Chinese as U.S. rare coins and real estate are a better place to allocated most of their money into dollar donated assets as their currency is manipulated and their economic performance numbers believed by few. Cannot say I would act any differently if I were in their shoes. In the interim most foreign govts and people park money in U.S. treasury bonds as a means of capital preservation by holding U.S. dollar denominated assets. No real return on U.S. treasury bonds after inflation and taxes are factored in but at least these investors have put their money into what is safe from devaluation and nationalization. Just a 2017 thought. Happy New Year to all.

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    @ricko said:
    Big Nixon face and gutteral voice "I AM NOT A FLIPPER."...... :D Cheers, RickO

    @ricko said:
    Big Nixon face and gutteral voice "I AM NOT A FLIPPER."...... :D Cheers, RickO

    Good stuff!! :D

  • coinhackcoinhack Posts: 1,173 ✭✭✭✭

    @tradedollarnut said:

    @spacehayduke said:

    @STEWARTBLAYNUMIS said:
    I will say unequivocally that the only dealer who concentrates on developing new
    Passionate collectors is Legends Laura Sperber. She is the most passionate coin weenie in the business. We need others !

    Stewart

    While that may be true, it is only a certain type of collector, one that is very wealthy for the most part, that she does buisness with and develops into new collectors. This group is a very small minority of the total amount of people involved in numismatics and won't solve the problem of fewer collectors.

    Best, SH

    The first coin I bought from Legend was for $3500 and my net worth at the time was maybe $100k.

    And you think that is typical of first purchases by new collectors? I respectfully have to disagree. Most new collectors that I see seem to look and look before they stretch to buy a nice coin for $20.

    I know a lot of collectors. Some that I see over and over at regional coin shows and occasionally at a major show. These are not, for the most part, new collectors. Many have collected for years and have purchased a number of coins but their entire collection may not be worth $3500.

    I'm just saying that if you believe $3,500 is typical for a first time coin purchase for an average collector then you live in a different world than I do.

  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    edited January 2, 2017 12:04AM

    @coinhack said:

    @tradedollarnut said:

    @spacehayduke said:

    @STEWARTBLAYNUMIS said:
    I will say unequivocally that the only dealer who concentrates on developing new
    Passionate collectors is Legends Laura Sperber. She is the most passionate coin weenie in the business. We need others !

    Stewart

    While that may be true, it is only a certain type of collector, one that is very wealthy for the most part, that she does buisness with and develops into new collectors. This group is a very small minority of the total amount of people involved in numismatics and won't solve the problem of fewer collectors.

    Best, SH

    The first coin I bought from Legend was for $3500 and my net worth at the time was maybe $100k.

    And you think that is typical of first purchases by new collectors? I respectfully have to disagree. Most new collectors that I see seem to look and look before they stretch to buy a nice coin for $20.

    I know a lot of collectors. Some that I see over and over at regional coin shows and occasionally at a major show. These are not, for the most part, new collectors. Many have collected for years and have purchased a number of coins but their entire collection may not be worth $3500.

    I'm just saying that if you believe $3,500 is typical for a first time coin purchase for an average collector then you live in a different world than I do.

    But what about the $100k net worth? I'm guessing quite a few coin collectors have a net worth of over $100k, especially the ones with a house.

    If a collector has a few grand to spend on coins, it could be worth considering Legend. At the moment, Legend has 14 coins under $2k including 2 coins under $1k:

  • coinhackcoinhack Posts: 1,173 ✭✭✭✭

    Good point Zoins. And those are certainly nice coins. My reply to the other post was in response to spending $3500 for a first coin purchase. Even the coins that you have pointed out in the $1,000 range isn't going to be a first coin purchase for very many people. And as you have suggested, it is often a lack of money but even for those who do have a net worth of $100k or much more that is still a helluva reach for a first purchase.

    On the other hand if someone has a few grand to spend on coins and it is their first purchase then getting good advice from a reputable dealer like Legend is a good idea.

  • CatbertCatbert Posts: 7,600 ✭✭✭✭✭

    @coinhack said
    "I notice this with many collectors (based on my impression of various posts over the years) on this forum whom seem to have a lot of their net worth (25-50% and even more) tied up in coins."

    This is a good point. I agree that many, including myself, are uncomfortable having a collection play a significant part of one's financial well being. I would add that one's risk tolerence also applies to the purchase itself - ala do I know enough about the "expensive" new coin to understand the resale downside potential.

    Seated Half Society member #38
    "Got a flaming heart, can't get my fill"
  • joebb21joebb21 Posts: 4,770 ✭✭✭✭✭

    I think the passionate collectors have been stepping up since the beginning.

    A 1909-s vdb in ms67 rd is still only 1c.
    Passionate collectors brought the values all the way up too 100k
    actually 95k
    or maybe 70k.
    I think GC recently sold one for 50k?

    whatever they are now worth?

    may the fonz be with you...always...
  • WDPWDP Posts: 517 ✭✭✭✭✭

    @STEWARTBLAYNUMIS said:
    Perhaps Donald Trump will start a coin collection

    @MrEureka said:
    I would suggest red Lincoln Cents. He would like those. And he could really impress his friends.

    I don't know if Donald Trump collects coins, but I do note that he made an appearance at the Stack's Public Auction Sale "Mr. 1796" The John Whitney Walter Collection sale, The Coins of 1796 on May 4, 1999 at the La Parker Meridien Hotel on West 57th Street in New York City, third floor....

    I was there for the auction sale and saw him walk in the room. I believe he was a business associate of collector John Whitney Walter.

    I might add, "What a Sale!" An entire sale of 1796 dated gold, silver and copper coins. If I recall the goal for this collection was to collect one example of every die used to strike 1796 coins, in as high a condition as possible.

    So at least we know that Donald Trump was exposed to rare coins and was aware that John Whitney Walter had a large collection or very rare coins and sold them at a public auction sale.

    W. David Perkins Numismatics - http://www.davidperkinsrarecoins.com/ - 25+ Years ANA, ANS, NLG, NBS, LM JRCS, LSCC, EAC, TAMS, LM CWTS, CSNS, FUN

  • BaleyBaley Posts: 22,663 ✭✭✭✭✭

    I don't need "passionate collectors to step up to the plate", I need all the holders of nice, original, mid-grade pre-1808 US coins to give up and go home and sell all their collections at once..... THEN, in 20 or 25 years, I need Passionate collectors to step up to the plate and have an insatiable interest in such material.

    Liberty: Parent of Science & Industry

  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭

    Money!

    We love money. It is likely the reason for modern civilization, post dark ages. The Madici, the Dutch bankers, the conquest of the New World and the development of New York as the hub of the world are all tied to money.

    We collect these trinkets of the past because we love money and it's history. In the next twenty years coins will be gone except for collector issues. The history told by money is one of the most important aspects of civilization. All corruption and turmoil in history has it roots in money. All achievement and progress in history is rooted in money.

    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • shorecollshorecoll Posts: 5,447 ✭✭✭✭✭

    I'm surprised it wasn't mentioned in this thread, but one key factor with the increased US Mint output, in addition to "flipper"-inflicted damage, is the sheer amount of disposable income they suck out of the market. Maybe it's two distinct markets but is your average millennial/GenX beginning collector going to drop $5k/year on US Mint stuff AND $5k on classics? Hmmm...!!

    ANA-LM, NBS, EAC
  • yosclimberyosclimber Posts: 5,046 ✭✭✭✭✭

    Here's a passionate collector who has spent $45 million on coins since July:
    https://forums.collectors.com/discussion/975928/the-next-eliasberg

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