The future of coins
1970s
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Gold and silver will most likely always have value. But how about coins ? The sports card collectors fear that the future generations will have absolutely no interest in their beloved hobby. What's the thinking on this side of the street ?
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I can't predict the future but I remember the past and the hobby died about 50 years ago.
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It may be related to the ability to engage the hobby on a face value investment basis. Pulling rare coins out of circulation. I roll searched as a kid in the late 60s - going through pennies (a roll of nickels if I had fat funds) and pulling needed dates for my collections. I remember my parents saving their silver quarters and dimes. Those days are gone.
There are far fewer opportunities today for collection of a series by pulling coins from circulation (collections for statehood quarters and memorial cents are still possible). That part of the hobby has contracted, to be sure.
The modern sports cards got clobbered because of oversupply.
Modern coins will be in the same boat. Who cares if a 1973 or 2015 penny is Unc 67 or 69? Millions were struck. Just buy a nice one and call it a day. First issue silver eagle? Really? It’s the same silver as the 100,000th one struck.
Earlier coins will always be in demand especially nice no problem ones.
Parents may want to take their kids to a local coin shop and let them go through the boxes. The kids need to handle the coins and see what design catches their eye. Let the child catch the bug. If they are having fun then buy them a Redbook and a couple of Whitman folders. Sometimes a dealer will give away an earlier edition for free. Maybe even throw in a few wheat cents or Buffalo nickels to get them started.
Well probably 53 years ago when silver coins were replaced by clad, the hobby began a decline. It was an everyman pastime back then. Pocket sized price guides were easy to come by and seemingly every kid yearned for an S-VDB.
Circulating coins now are worthless in commerce and of little interest to all but the most dedicated numismatist.
High end stuff will always have a home....even if it takes two long airplane rides to be deemed worthy of such status.
Fortunately coins are quite durable, being made of metal and all. Unlike things made of paper that rot with age, I think the future for coins is fairly bright. Probably will outlive mankind itself.
Coins will be collected as long as humans are around. Sports cards are an area that I have zero familiarity with, and I do not follow ball sports at all. Cheers, RickO
Coins was not an "Everyman" hobby until the early 1960s and the Everyman stage only lasted a few years. It was not too hard for average folks to imagine that the 90% silver coins would be special someday and very many people culled them out of their change for a few years. This stage did not last hardly past 1971 or 1973 and many people began to suffer a decline in their standard of living after the First Oil Shock.
Coins that have intrinsic value will always be around. Modest but historic items like Indian head pennies will always be around but still sought after. High price "condition rarities" may very well suffer with the passage of time. Today's hot collectible item may be in a deep freeze tomorrow, we've seen that a bunch of times.
John Jay Pittman used to buy proof gold for the gold value. Nobody wanted that stuff when he was buying it. Nobody can predict the future, but I would argue against complacency. And, there is the price issue. Even if someone always wants your chain cent, that doesn't mean they will pay what one sells for these days. Price appreciation is not guaranteed for anything - including gold or silver bullion.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I think that coins will be around for a long time to come and that coins that have quality, rarity and eye appeal will continue to hold their value and to garnish interest.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
It may really be the 100,000th one struck!
I didn’t think of it that way! You are so right! Now for sure I will shy away from that first issue, early release, or whatever it’s called.
If you compare the prices on about 134,000 of those sales to similar coins a year or two ago, you'll note something distressing.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I didn't say the hobby is dead (fifty years ago). I did hear the rumor then.
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Coins will eventually be replace just like stamps. However there will always be a market for artistic and precious metal value of them. Regardless of what others are saying, I am all for silver due to solar power and hygienic part of it.
They will be around as long as the mortals are.....
Coins have a bright future if people can see and develop a connection with them. And that connection can be through history, artistic merit or just the sense that coins represent something special. Given how matters have unfolded recently, maybe more value will be placed on education and even a degree in history.
Experience the World through Numismatics...it's more than you can imagine.
The kids today want iPads and frenetic visual stimulation...not history lessons and coins. And they won't be using money to buy anything, only a phone app.
I think we are headed the way of the baseball card collectors, with the rarest items always being of interest for their investment potential, but lots and lots of common coins without an audience that appreciates them.
Commems and Early Type
CommemDude, Saly, I agree. The casino wishes everyone to forget what real money is, and they are succeeding. Once our currency was debased from the founders gold and silver, the fiat currenct is what we have now. A 'dollar is nothing more than a unit of measure, just as an inch, quart, bushel or peck.
With currencies failing around the world (Venezuela and Iraq as examples) I believe a precious metal backed currency is a possibility. I've also heard Russia is coming out with a 1/2 ozt 90% silver ruble so that should be interesting if it turns out not to be a conspiracy theory.
I say it all the time and I'll say it again, coins aren't going anywhere. I'm a coin dealer and do thousands of sales every year. I'm 20, a good bit of my customers are younger than me.
P.S. for everyone who insists coins are dying just let me know when they're "dead" and mail me your collection, I'll pay 96% Of melt for everything. Be sure to include lots of early copper.
If we can't even get rid of the cent, what makes you think we can get rid of them all? Heck, we still make a Kennedy half for collectors only.
Coin collecting has been going on for over 100 years and will continue for hundreds more. You chicken little.... "the sky is falling" people slay me.
Coins have been collected for centuries. Spink and son in London has been buying and selling coins in England since 1666! A mere 14 years after Massachusetts started striking silver coins in 1652. Coin collecting isn’t going anywhere. I would recommend that one collects for the true love of collecting and it’s history and not trying to make a quick buck. I have seen a lot of those fast money people get eaten up and spit out. If you do your studying and buy wisely, the money will follow you.
It's not died, but it has declined.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc