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Get out your crystal ball!
MrEureka
Posts: 24,683 ✭✭✭✭✭
Let's take a look at the year 2042. How have the hobby, the business and the market changed?
And if this thread still exists in 20 years and you're checking to see how right and wrong everyone was, let me be the first to wish you a Happy Groundhog's Day!
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
6
Comments
In the year 2042, circulating coinage has been drastically lowered since the federal cryptocurrency law requiring any transaction over $50 to be made electronically. The mint is still making and selling plenty of precious metal medals with bogus dollar amounts printed on them. Circulating cents are now rare after the rounding act allows rounding to the nearest nickel. The fractional bill act has practically eliminated production and useage of coinsage. The collecting arena is still strong although a couple runs on gold and silver caused many of the common dates to be melted for recycling. The rarity of copper and nickel has even caused billions of these to be recycled. The scarcity of circulating coinage and middle aged people remembering their childhood has made coins such as statehood quarters rather valuable, selling for 10-20 times face, depending on rarity. World coinage has become more collectible as many countries have combined or their monetary system has.
I hope to see you at FUN in 20 years +++
The US Mint announces their latest price increases. Proof sets are now $600 and the silver ones are $1500. The proof silver eagles now come in 360 different finishes, mint marks and privy marks. Your choice only $875 each. By the way you can also get gold, platinum and palladium versions at $5000, $7500 and $12,500 each. Also the newest product is the new Einsteinium eagle at $125,000 each limited to a mintage of only 125,000 of each date/mintmark combination.
The US Postal service is now offering a new quicker and more secure service that actually will require positive iris scanning ID upon delivery. Your package will be guaranteed to be delivered within a year of shipping.
There will be a new numismatic organization specializing in parking lot double die error finds. Their electronic newsletter will be available daily to keep up with all the new discoveries.
Coins will be digitally identified by the certification services by etching the surface with a new laser technology to stop resubmissions and guarantee the grade forever. Coin doctors discover how to erase the serial numbers and resubmissions continue in the new 1000 point grading scale.
QDB publishes his 10,000th book on numismatics, the ANA announces membership passes a million members for the first time and Andy Lustig completes his Central American collection.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
The new younger generation "Gen A" no longer wants anything physical at all. All collectibles trade as virtual tokens (fractional ownership) and are bought and sold via an app, with the app developer taking a 5% commission from each counterparty. Auction companies moved into the app business (except Stacks, which closed because they couldn't hire app developers) and certification companies moved into the collectibles storage business (except ANACS, which moved into the disposable plastics business), issuing the virtual tokens for stored collectibles.
All collectible conventions/shows are now conducted via virtual reality gear due to the annual pandemics.
The US government confiscated all precious metals when inflation got so high and gun violence became rampant. There were no exceptions to the confiscation but former holders were issued hyper inflated terayuan for their holdings. Terayuan are only able to be traded and stored only on a lousy phone app built by the Morgan-Mitsubishi-Xinwa gigabank (MMX for short).
The Mint has once again increased the price of bullion Aluminum Eagles, citing rising material costs. However, proofs are still available for $25,000 each.
2042 Morgan and Peace dollars will be issued only in clad, in order for them to remain affordable to collectors.
The Mint will cease production of the $100 coin, due to its lack of purchasing power.
Well now.... I certainly hope to see this thread in 2042.... I will be 100 years old if I can open this thread at that time. Looking forward to see how accurate predictions are. I am making only one prediction.... I will be there!!!
Cheers, RickO
Me to Ricko but not 100.
Hoard the keys.
MS 1969 quarters are still rumored to be rare and certain relatives have taken the mantle to advocate for this unknown rarity.
"She comes out of the sun in a silk dress,
running like a water color in the rain...."
The US Mint produces the last of the 10 year series, 'breeds of dogs' Washington Quarters.
The US Mint announces the next Washington Quarter series, the 'types of fruit' Washington Quarters.
On my passing in 2042, my wife distributes my collection via CoinStar.
The 6th edition of Cherry Pickers Guide released for sale.
- Ike Group member
- DIVa (Designated Ike Varieties) Project co-lead and attributor
.
A wheelbarrow load of paper money or a junk silver dime will buy a loaf of bread.
In 2042 the exhibit "Microscopic Lincoln Cent Varieties and Errors on Corroded Coins" wins best of show at the ANA summer convention.
High end coin collections will be blockchained
There you go NFT of coins and everything else collectible.
Hoard the keys.
Reminded me of this. I was 10. Prophetic.
In 2042 I hope to read and respond to the post from Rob about how you are still alive.
My 1866 Philly Mint Set
Numismatists and collectors will say that the opportunities that existed back in 2022 no longer exist in the present and look fondly on the old days
I've been selling because this is what my heirs are promising.
The only coins in circulation are Chinese knock offs. Lol
Wayne
Kennedys are my quest...
There will be far more theme and type collecting.
The old timers will have little impact on the markets except as sources of the types of coins we collected or set aside. Our aggregate demand will be nominal.
Grading will no longer be as important though the services will price and authenticate coins and other such objects still.
People will worry that the last coins being issued by the US Mint will mark the end of the tremendous growth in coin collecting that had begun in 1999 will be coming to a close. They'll be right.
All coin collections will be worthless and replaced by fungible Tokens. You might as well just ship your collections to me and get out while you still can.
Standard armored truck shipping.
I’ll be 90 and hopefully be here to open this thread too. The one and only prediction I have is the coin hobby will still be strong and the coins you possess now will be worth a fortune compared to what you paid for them.
Happy hunting, Joe
Posting for the hoped for reunion in 2042. It’ll be a miracle if I make it.
@crazyhounddog ... I will be looking for you in 2042 Joe.... We got this!! Cheers, RickO
Fewer issued for circulation, many commems.
I will be a year or 2 from retirement. Hopefully I will be in my prime for adding a couple of cool coins at the show. Perhaps I will finally find a perfect 1796 half dollar.
In reality I fear that fakes will have destroyed the market for circulated coins and the only market that exist will be for a small nitch group of collectors who chose to collect coins that can be pedigreed to collections that pre Date the year 2020.
I really hope I am wrong and the 2042 show will be awsome with lots of cool coins available now that I am finally done paying for my kids college.