US Mint says 140 Million Americans collect coins.
Lakesammman
Posts: 17,553 ✭✭✭✭✭
Quote in todays Wall St. J. in an article on the $1.9 mil 27-D Saint sale recently.
Does that estimate seem high??
Does that estimate seem high??
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
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<< <i>Does that estimate seem high?? >>
Yes. It is my understanding that anyone who has a penny jar or a quarter jar is included in the count.
<< <i> ......
Does that estimate seem high?? >>
Not, according to Chambers.
Liberty: Parent of Science & Industry
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
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Got to love the press- great propoganda mover we ever had.
Bull
<< <i>I wonder how long it will be before some of the sleaze use that statement in their sales pitches to neophytes >>
As referenced by ER, the guys on the Coin Vault already use this data to pitch SHQs and have been since I first noticed their program in 2001.
<< <i>
<< <i> ......
Does that estimate seem high?? >>
Not, according to Chambers.
Yeah, they collect them...put them in a coffee can, then take them to the super market and dump them into the coinstar machine and lose 7%.....
Oh man, that's cheap. They got those machines at a local supermarket here and it was 9.25%. I was really
<< <i>It might be more like "hoard" coins...
That more along my line of thinking also!
TC71
Even of this number, many only buy coins from the mint.
The 140 million figure is nonsense.
There are several people around here who actively collect. I'd be surprised if the real number
is much under 20,000,000. (if at all)
If you include everyone who ever sets side a coin or would consider it then you might be able
to approach the 140 million figure.
A while ago, I posted one of my observations, that the number of "hard core" collectors (you might call them serious) numbered a few thousand at most, I've noticed the same group of people at various shows and auctions. When precious metals or errors are hot, "investors/speculators" become active (like now with gold).
But as they say, non-regular collectors think anything old is valuable & a Morgan dollar for <$20 USD seems cheap to them.
...It's kind of funny really, it seems that 20 of the hard core collectors are bidding against ea other for the same coin more often than not!
Funny passion we share.
~g
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but when ya get as old as smoe of us its no longer "Collecting" its mental illness !
are crammed with offers to sell coins. It's absurd to put the number as low as this thread
does unless you want to exclude everyone who doesn't buy $3,000 coins.
Anyone who assembles sets of coins and is learning about them is a coin collector. I'd be
surprised if there aren't at least 15,000,000 baby boomers alone. There are at least anot-
her five million newbies and more if you expand the definition to include those who will be
learning about the coins in the future.
<< <i>And 138.9 million of those think Kennedy Halves in circulated condition are " valuable". >>
You mean ..they're not.....................................
140 Mil is nonscence like RR said.
Thats a strong percent of the population.
I'd say roughly 100 Mil worldwide!
Thats around right figures!
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<< <i>Obviously this will depend on how one defines 'collect'. >>
BINGO!!!!
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
Bowers writes:
"This number included citizens who might casually save a newly minted 1999 quarter... as well as those who might set aside one of the Sacagawea dollars."
He continues:
"Billions of Kennedy half dollars have been struck in our generation, and yet I can go shopping for a year without receiving one in change. Where have they all gone? Probably to some of those 130 million collectors."
He then goes on to study the question in detail, examining the number of subscribers to the seven major national numismatic publications, extrapolations by Beth Deisher of Coin World, observation of coin shows and non-numismatic shows where famous coins are displayed, sales of the Red Book, etc.
From these factors he comes up with a considerable smaller estimate. And from there he narrows his focus to what he calls "core collectors" -- an even smaller group.
Then he looks at those who, as examples, registered to bid on the 1804 dollar in the Childs sale and the 1933 $20 sold by Sotheby's/Stack's in 2002.
As you narrow the definition of who/what a "real" collector is, you obviously end up with smaller and smaller numbers.
I was always comfortable with the 200,000 number based on CW/NN circulation numbers (I don't think the Red Book releases their sales). But I recently saw that Heritage claims 30,000 unique visitors a day to their website. If 30,000 different people are going to the Heritage site on an average day, there must be at least a couple million collectors.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
But I don't know if you can call that true collectors in all honesty. Shop at home sure could (and have) though.
David
<< <i>And 138.9 million of those think Kennedy Halves in circulated condition are " valuable >>
You mean ..they're not.....................................
OK, I'll admit that circulated Kennedy's are worth a lot. But but they're not worth half of what those Golden Dollars are worth.
About 50 million are to young to be able to collect coins.
About 50 million are to old to collect coins
About 50 million don't know how to collect coins.
About 50 million can't afford to collect coins.
About 99.99 million just don't want to collect coins.
That leaves only me.