Did anyone notice at FUN....
ianrussell
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Did anyone notice the younger crowd at FUN? Dealers and collectors.
(Still the older folk too, just more young people from what I saw).
Ian Russell
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
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We absolutely did, Ian. I think just about every report posted in the past few days, including mine, noted the astounding amount of younger folks at the show. The future looks pretty bright in my opinion.
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The last few years have brought many very sharp younger dealers and collectors to this hobby. It's a wonderful thing for the future
Justin Meunier
Boardwalk Numismatics
Yes, Ian - I did notice that more younger folks were in attendance. I especially enjoyed the younger folks attending the Bass audition live and bidding and winning some great auction lots. At the auction, they were well prepared to bid and IMHO knowledgeable on the lots that they were bidding on.
Great to see!
Good news, this means we have may have someone to leave our collection to!
It has building like this for the last two years.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Or ...
Does this mean we have someone to sell our collection to? LOL.
It would be interesting to hear their stories, education, hopes for the hobby and their grasp of the historical background that numismatics fits into.
Seth Chandler has a lot of videos like that with yn’s in WitterU, but I think most of it is featured on their instagram page. They may be on their website
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Absolutely!
WS
You bet i noticed and it was refreshing.
I sat at a lunch table with one of them, his name was Curt. I really wish i got his last name as well.
At first i thought he was a YN helping or whatever.
But as we talked it became clear he was a very serious, savy and knowlegable young man who is making this his career.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
Yes for certain Ian!
Indeed heartening to see so many very enthusiastic young collectors/investors/flippers hustling around the bourse…our noble hobby may have a chance after all!
I chatted with a couple of them and my takeaway was that social media is absolutely the key to their success..
Yup, good news for all.
Hearing that younger dealers and collectors are attending these shows is great news for the future of this hobby.
I am happy to hear this. Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
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He asked me "What was the last coin you bought that you were excited about"?
What a fantastic question!!
It set me back, I told him and he showed me pics of coin he had, eerily similar to mine.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
This is good news, I too have noticed this at the last two shows I had attended. I haven’t figured out what mix of them are, collectors or dealer/investors. Good either way.
I've been noticing this for the past few years, saw it really start up on Instagram where I've made several contacts with YN's over time. All while the "fogeys" on this forum and others were sarcastically asking "what's Instagram?" or bitching how much time the young 'uns spent on their phones or other devices.
I believe the coin hobby is alive and well. It just doesn't look like the hobby of even a decade ago. And that's made the "old guard" a bit uneasy. I'm 60 and say bring on the YN's!
10-4,
My Instagram picturesErik
My registry sets
You mean this crowd sitting in front of John Dannreuther?
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Who is financially backing these yn’s? Or are they dealing with a small number of sub $500 coins? When I was ~18, I know I didn’t have the funds to finance a full inventory
Please don’t tell me they’re using their college tuition money to buy coins.
And where are the female YNs?
Who is going to replace Laura when she retires?
Lots of up and coming younger dealers who are very knowledgeable and savvy. I think it is also fair to note that it would be wise for some of them to continue developing the relational side of the business- doing what you say you’ll do, treating others with respect even when they don’t want to sell something you want, developing emotional/cultural intelligence, etc.
That goes for any age group, but the more we can mentor in the above areas in addition to numismatics as we interact with them, the better.
Note: This is not a reference in any way to Curt, who from the little I’ve interacted with him is a class act and I believe he and others like him will continue to be very successful.
This photo was shared on Instagram, the young ladies of numismatics are right at the forefront of the table.
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I have never doubted the existence of YNs in our hobby but it is nice to have irrefutable evidence to back it up. The future of numismatics is indeed bright and this makes me feel good!!
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
This, to me, is not a new trend. Most of these “young uns” have been around for 3-7 years. In fact, I’ve dealt with 4-5 of them at regional shows since they were 15-17 years old. And they know much, and have a clientele. And in many respects, well, better research than I can shake a stick at!
It was my first FUN show. Although I can’t compare directly to earlier shows, there were quite a few young folks — down in the trenches dickering over coins.
Perhaps one of the few benefits realized by the pandemic.
This has been consistently mentioned in the FUN show reports posted here this year. There has always been young collectors, and they are very evident on the internet. Their presence at large shows is becoming more obvious. Cheers, RickO
Hopefully they actually collect and not just deal. Need both ends of the equation for balance and a healthy hobby.
I try to do a lot of outreach with younger guys. They're the key to fostering healthy growth in the hobby.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
In my experience, most of them come from well-off families, upper-middle class with the income/resources to foster this kind of hobby/interest/business.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Really nice to hear more people my age is interested in the hobby. Really wished I've could have attended winter FUN too.
Collector
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I watched several really young folks walk up and do 20 to 30K deals. I had no question that they knew what they were doing. They learned from us older folks and I was happy to see it.
I just hope that their presence isn't becoming more obvious since we started witnessing the older herd thinning out?
I started a Collectors Club here at my school and of the 18 or so in the club, 3 of them are serious coin collectors, including one young lady who is really wanting to learn. She asks questions all the time about errors and varieties. I hope she sticks with it, she is a bright kid.
I disagree. You do not need a college degree to be a coin dealer.
Putting all of one's money into their own business can be a great option.
This is encouraging news.
When my grandkids were tiny, I penned a ...well... BOOK. Actually a 24 page pamphlet. I inserted pix of the family as far back as I had photos.
I started the "family story" at our first step into this country on the ship, 'Davey' on October 28, 1738.
Sadly, information was missing for many many decades but I did the best I could with what I had.
I ended it with some ....advice.
Here's the advice snipped from my file on "the book."
Learn a whole lot about something that rich people like to buy. I don’t care what it is but if rich people like it, there is always a demand for an expert in it. This is something you will never hear from anyone else because it is such a valuable piece of advice that the people who do it do not want anyone…..else…..doing it. Become an expert in something valuable. ...The ONE thing that stays constant is that whichever guy is becoming rich, he will STILL need an expert to help him buy things to show off. If you become that expert, whoever IS rich will need your advice.
None of the grandkids used any of the information. It's sad to think that, but they had the shot and it is/was up to them to make whatever they can of their lives.
Seems like many/most coin dealers don’t have a college degree and I’m actually surprised by that. The worry is that when the coin market takes a downturn, if these yn’s have no degree and no real life experience doing anything, they have a good likelihood winding up in a messy situation.
That is not the kind of “tuition” the coin market needs to provide
Some of them are partnering deals together (ie. pooling their money to buy bigger deals), and others I'm sure are helped by their parents. But one thing all that I spoke to had in common - they pretty much have zero overhead (remember the days when we didn't have mortgages or rent???), so capital quickly grows when there's minimal expenses being taken out.
Will some skip college and start in coins full time? Yep - I'm sure of it, while others will go the college route and deal in coins in their spare time.
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Compete with us and drive up prices!
Working in coins full time for yourself or for a good coin dealer/auction house is perhaps better experience than any degree imho, but it does depend on the person - and also if you want to get a particular job one day outside of coins (which a degree might be a requirement)
When I was 13 - I got a part-time job a stamp shop in Sydney (at I think A$5 an hour = USD $3.30). Learned so much more during those 8-10 hours a week compared to what I was learning in high school at the time.
Owner/Founder GreatCollections
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Not sure what you mean by no real-life experience. If they're taking the risks involved in running a business, dealing with customers and suppliers and doing a decent job at it, that sounds like real life experience worth far more than many degrees that people can get today. When the market takes a downturn, how they adjust will depend on their values and support system. We've seen board members end up in prison or dead because of the decisions they made when things got tough. What will the roomful at the Bass sale be doing in 10 years? Some will be dealing full time and be considered upstanding professionals, and some will be in other fields. Hopefully none have values that will lead them to become charlatans and industry pariahs.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Interesting discussion. As a YN myself, I am going the college degree route and getting a Bachelor's in Mechanical Engineering and a minor in Business, all while dealing coins on the side. In a dream, I would be a coin dealer full time. Realistically, the engineering route will provide good initial income with long term benefits such as retirement, and if the economy goes south, I always will have something to turn to. Having options is key in my opinion.
For funding the coin dealing, all of my money has been hard earned and none given by my parents. I started with $1,000 from working at a grocery store, now I have a five figure coin collection within a couple years. Just takes some elbow grease.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
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Congrats on your success so far in collecting! Have you incorporated "L@@K!" into your coin sales bag of tricks yet?
Here's a YN story from college football you might enjoy. A bright 320-lb all Big Ten coin nerd. He has the same dreams and wants to become a coin dealer someday when he retires from football or accounting.
https://247sports.com/college/illinois/Article/Illinois-football-Local-coin-shop-hobby-provided-escape-for-Illini-senior-OL-Nick-Allegretti-through-stressful-rewarding-career-124752253/
There are 10x more YNs than what you can imagine.
Listen to what they have to say:
I actually talked to one of them recently and asked them the same question because I was wondering the same thing. This particular dealer is in his mid-20s and works with his brother and the impression that I got was that they just work very, very hard. He said they work at least 80 hours per week and they are very active on many different media platforms, including YouTube where they post at least one video a day. They also sell numismatic related apparel. Another big factor he said was building quality relationships. Sometimes for them it is more important to build a good quality foundational relationship with a dealer rather than make a big deal right off the bat. They gradually built their inventory over the course of several years to something that is quite impressive now.
This. I have seen it. One YN knew a person was going to buy an item at auction (they actually talked about it on the phone) but the YN bid it way up, trying to get it...so he could then mark it up and sell it to the person he knew wanted it.
Then you have the additional competition on the bourse floor. They are running around on dealer day buying stuff and then on the public days you can't find anything. It makes me wonder why dealers sell so much on dealer days when they know they can sell the quality material for more to the public the very next day. Helping a dealer out on a case by case basis I understand but the mass selling to help another dealer's inventory is strange to me when they could make more money.
Then my story of trying to meet up with a YN that had a coin I wanted at Summer FUN last year. I messaged the person 2-3 times and they were not mature enough to reply/coordinate to meet up after once saying they would (pre-show). The coin then changed hands a few times before I could track it down again to get it.
Maturity is a process and it can be frustrating to deal with those going through it. It would be a more predictable dynamic if they were all cut off from the parental funds.
Maybe @SethChandler can help with this a little more at Witter U?
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
As a (newly) retired academic, I would strongly advise any YN to get some kind of college degree b4 doing anything, including being a professional numismatist. College (hopefully) teaches the students how to solve problems and they acquire all kinds of skills that can be used in their future profession that will be beneficial and a really good obtained way to get such skills - social, quantitative, writing, IT, etc.. And at 18, you are young, life can wait 4 years, you can always deal full time in 4 years as you still have plenty of time. And, as others have said here, you then have a back up just in case. Always good to have options.
A good example is the young dealer on Youtube (and Instagram) who is going to Princeton. He post's a new vid almost every day and is building himself up for a strong future, while buying and selling on the side during college. Hopefully he is getting good grades too...........
Best, SH
I think I can shed some light on this. I work at a LCS and helped coordinate the first show they would set up at which happened to be the ANA show here in Chicago last year. We did pay for a dealer day table so we could see all the action that would take place. It was mine and the boss's first time setting up at a show. It was quite fun and exciting to be honest, something I always wanted to do, be behind the table.
Anyways, the inventory we brought were already priced for "retail" sales to the public, but a few dealers did buy at or extremely close to the stickered price in quantity, which was surprising for me personally.
I can't talk for the bigger dealers, but in my single experience being a dealer behind the table for a LCS, selling to dealers does not necessarily mean less money. It could be just as much as selling to the public.
But I will agree that dealers picking quality material on dealer day as all of the dealers that bought from us, picked and chose coins of quality they wanted out of the cases leaving what they didn't want for the public the next day.
Collector
75 Positive BST transactions buying and selling with 45 members and counting!
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That YN is currently pretty successful in his 'other' career, he's the starting Guard for the KC Chiefs...
https://en.wikipedia.org/wiki/Nick_Allegretti
Justin Meunier
Boardwalk Numismatics
What seem to be the collecting areas that many YN's have the most interest in? What is selling or being asked about the most?
Is it older 1800's classic copper or silver, Morgans/Peace dollars, early 1900's gold, mid 1900's cents, nickels, dimes, quarters, halves, modern gold, silver, or modern clad in top condition?
Commemoratives seem to be losing interest, and I am guessing most YN's are single, because first spouse gold sure is unpopular.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526