Is there anyone in this hobby...
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Who could tank the whole coin market with just one tweet?
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
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No, doubt the majority of collectors even tweet.
I think so!
I don't even know what "tweet" is or how to do it.......OR CARE!
Not I. I don't Tweet at all. I joined and found that you had be part of clique to do anything. They keep bugging me with emails, but I just delete them. The whole thing is a waste of time.
We have a duopoly in the coin grading biz... DW or Salzberg could tank the market with a Chapter 7 tweet
Latin American Collection
I agree that a bankruptcy filing would tank the market. Ditto if CAC closed.
There is nothing JA could do or not do that would affect my collecting at all. And I imagine most collectors feel the same.
I never tweet...but from time to time I will fly.
crazyhounddog, Are we supposed to know who your special lady friend is?
Maybe the more rational answer is that tweeting is over-rated and serves to fill a created and superfiscial void that frankly should not even exist. And those that choose to follow the nonsense gives greater influence to those that seek to be manipulative. Regain control of common sense and ignore the noise.
Experience the World through Numismatics...it's more than you can imagine.
JA's tweet: 'I confess, I bean messed with coins all the time'.........
Twits tweet
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
I almost put an "agree" on this post until I considered that CAC is one of the reasons why I'm pretty much done with buying higher priced U.S. coins.
A "Tweet," couldn't do it. But enough MONEY in one person's hands could. Call me paranoid but.......where's all the good stuff gone? And the in between stuff? O.k. boys, rip me. I can take it. It's just a thought.
I sure don't recognize her. A caption sure would have helped.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Perhaps something like:
"@CoinWorld confirms unnamed collector finds 100 examples of every single coin the US ever minted in hidden collection. Coins have been sent to PCGS grading, and the experts are amazed at their condition. Collectors look on in dismay as the value of their collections plummet."
Or
"@SecretService and @FBI confirm John Albanese, David Hall, Don Willis, Steve Eichenbaum, and Rick Montgomery and have been charged under the RICO statutes for their role in an elaborate coin counterfeiting and doctoring racket going back decades."
No, but I think the opposite is possible.
If some young celebrity tweeted about how they enjoy collecting coins, I think it could possibly give the coin industry a much needed boost by bringing in some much needed young blood.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Possibly only the same one who inspired your post.
I was just thinking about this while looking at all the fake coins including fake slabs on aliexpress. If he were to say something along the lines of "Stay far away from buying coins, Jina is flooding the market with fake coins even fake certified coins", it could have some effect.
I don't think it would last long as those already collecting or dealing would have the knowledge, or access to it, to avoid the tiny percentage of fakes and probably see a market drop as an opportunity. It might cause new people to back off from coins. Though maybe not as they seem to lap them fakes up on Ebay.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
I’m sorry I misread your post. I thought you said tweeker . Just to be clear she is not my special lady friend. In fact I don’t even know her. I paused an episode of cops just to take a pic of this strange tweeker thingy.
Just trying to be humorous. I guess it didn’t work.
My apologies
QDB would be iffy, but possible.
David Hall would be the primary one, imho, who could say something in a tweet that could have major repercussions in the coin market.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
The mint director (I have no idea who that is anymore) if they announced that coins were done and everything would be digital now. Sad thing is I think this will happen, but not for at least 100 years. I hope.
Actually, coins would become more popular since "They ain't being made any more." Realistically, as long as the US Mint can profit from coin sales to collectors and bullion hoarders, they will keep making them.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Do they have to be "in the hobby"?
The Fed Chair could move the coin market with a tweet. Donald Trump could probably move the coin market with a tweet.
We've had this discussion a lot around here. Elimination of coins might cause a short term increase in the coin market, but I think it would probably all but kill it in the long run.
I think this misrepresents the point the OP is trying to make. If you want to substitute "press conference" for "tweet", go ahead. I think his point is to ask whether or not there is any illustrious voice who is so well and widely respected that a statement from them (by any means) would tank the market.
The only thing that could tank the coin hobby would be counterfeiters in the future that could make perfect counterfeit coins and slabs using advanced technologies that currently don't exist but will be coming some day in the future.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
They would probably be more popular among those who remember them, but as the generations pass and people who never experienced them predominate, the popularity would fade. There would still be people interested, of course, but not as many. I hope I am wrong. But how many people do you see riding a big front wheel bicycle? They have been replaced in the collective conciousness of people. Coins will be the same... generations from now, as will pretty much everything else given enough time.
Yup. "The power to tax is the power to destroy." If the government decided that coins above a certain value are a non-productive investment and imposes a yearly property tax on them, that would effectively destroy the coin hobby or at least force it to go underground.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
True. I'm surprised they haven't considered that. It would be progressive and populist. Probably too hard to enforce, but that shouldn't stop them from at least discussing it
They can also simply move the market by changing expectations around the economy. If they cause a flight to safety in precious metals, it tends to buoy the coin market as well. If they caused a flight away from PMs, it tends to drag down large segments of the coin market.
A VAT style sales tax every time a coin changes hands would certainly hurt the coin hobby, especially coin auction companies. I sure hope the government isn't following this thread because I don't want to give them any ideas.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
the coin market.
Don't worry. At this point, they probably have mind-reading technology so they knew it before you wrote it.
No one could do that. Certainly a market impact could be made with a major MSM topic... however, that would mainly affect the coin 'business'...hobby collectors would likely benefit from low prices and collecting would continue. Cheers, RickO
THIS.
How many of us got hooked as children by looking at pocket change? Or, as adults even? (My Japanese coin addiction which is quite extensive now all started with my pocket change when stationed in Japan).
Yes, THIS.
And also the sense of nostalgia. How do you get nostalgic about a past you never had?
ceasing making gold coins in circulation didn't hurt their desirability. old master art was replaced by modern art and those prices are off the charts. people have collected coins forever and will continue to do so. The very reason we like coins---the history, the beauty, the rarity, etc----will still be there whether or not coins are no longer used in the future.
What if the tweet was against import of counterfeits?
I don't think this would affect coin collecting at all. The coins they are making now aren't collectable anyway....who cares!
I have not missed the point of the OP... I can write and believe that because tweets can be ill-conceived and ill-advised predicated on fiction and social media often creates instant reactions which is often an over reaction. There seems to be an instant gratification associated with tweeting and social media in general. And there are those that choose to use it irresponsibly.
There simply is no single person, inside or outside the hobby, that has the ability to tank the coin market. It really would speak volumes in quite a negative light to those of us who are collectors...collectors are collectors first. Unless of course collectors have become nothing more than Lemmings... And I didn't get the memo.
Experience the World through Numismatics...it's more than you can imagine.
Consider stamps...
Art wasn't completely displaced, so I fail to see the correlation. I'd also point out that collecting either modern art or old master art can hardly be viewed as a broad-based collecting interest.
There was very little coin collecting that occurred between Roman times and the Renaissance. And, in fact, broad-based coin collecting only dates from the 19th century due in large part to marketing. Much of that marketing, Max Mehl and the boys, centered on treasure hunts in pocket change.
Even today, there is very little (relatively speaking) collecting of Greek and Roman coins despite greater rarity, more history and lower prices.
Yes! All it take is one senior executive from one of the top grading companies to tweet that the coins we submitted were swapped and replaced with high grade counterfeits.
My rationale is that there are many CAC only buyers, and a even a small reduction in the pool of bidders can make a huge difference in the prices realized. This is especially true for thinly capitalized markets like rare coins.
@Jimnight
In our household......only Mango does....
I don't care. Really. I do not care, nor do I want to be a part of Twitter or Facebook.
I don't need any of it, I don't want any of it. Social Networking is the cause of so much misunderstanding and foments a whole lot of trouble when used improperly.
Call me an old fogey if you want. So what?
I don't have to worry about some one misunderstanding something I posted and having things blow up in my face because of it.
Just my two Cents.
Pete
We are in 100% agreement on this topic.