Last man standing gets millions of 2x2s........
2manycoins2fewfunds
Posts: 3,041 ✭✭✭
I've been to a number of B&Ms in last few months and observe the following...............
Most are guys between 55-75 Y.O.
Most say they are doing well on bullion but that general mid to low end collectables are dead.
Most have thousands of 2x2s of various mid to lower grade coins priced $0.50-$40
Few have any real succession plans.
So here is the question....................where will all those well worn large cents, V nickels, seated dimes and standing liberty quarters, etc., etc. eventually go?? Millions and millions of 2x2s that people hang onto because they have a price but don't really have a market??
Don't run into a lot of kids these days looking to start a common date well worn barber dime collection.
Will the last old guy alive get everything by default??
Most are guys between 55-75 Y.O.
Most say they are doing well on bullion but that general mid to low end collectables are dead.
Most have thousands of 2x2s of various mid to lower grade coins priced $0.50-$40
Few have any real succession plans.
So here is the question....................where will all those well worn large cents, V nickels, seated dimes and standing liberty quarters, etc., etc. eventually go?? Millions and millions of 2x2s that people hang onto because they have a price but don't really have a market??
Don't run into a lot of kids these days looking to start a common date well worn barber dime collection.
Will the last old guy alive get everything by default??
0
Comments
Just my humble opinion.
Fear not it will be 25 years until we hit the bottom of this cycle though there will
be some troughs along the way.
KIds are different now. Its not just coin collecting.
There are far, far many more things to attract kids interest now and yet still just 24 hrs. in a day.
I don't see a new generation trying to fill albums ...........I see a wave of 2x2s building...........the PMs going to the pot.....the rest?? Who knows but certainly down in price.
I'd love to see Whitman folder sales for last 40 years.
How are Redbook annual sales or Coin World circulation numbers doing??
Millions and millions of 2x2s that people hang onto because they have a price but don't really have a market.
<< <i>I've been to a number of B&Ms in last few months and observe the following...............
Most have thousands of 2x2s of various mid to lower grade coins priced $0.50-$40 >>
I'd be surprised if they didn't. You can't sell coins you don't have, right? Just because they had them recently when you looked is not really any kind of evidence that the same coins were all there a year ago, you know.
Any old, worn, coins in 2x2s that need a good home, PM me for an address
Hey theres an idea in the making....wonder if I could get nonprofit status for an "Unwanted Coin Rescue"?
The local dealers have told me on more than one occasion that there are no kids coming in as collectors anymore. Most say
I am the youngest true collector that comes through on a regular basis (I am 33). If you were to go by the PCGS forum mumbers you might think
that there are plenty of young collectors. It seems like there are quite a few really knowledgable young members, maybe 20 or more
that post often and continually amaze me with their knowledge.
My fear is that a large percentage of young collectors are on these boards. I know I very rarely see young (under 30) collectors
at any of the 5-10 shows I go to a year, and those I do see are usually already on this board. I have been collecting since I was 8 and have
tried for 25 yrs to convert others to the hobby. To date I have managed tp created exactly 0 new collectors. The lack of interest is not lack of finances,
it is an overabundance of other options to occupy ones time.
The increase in fake coins and death of local coin shops will lead to an even faster decline in the hobby. I may be overly pessimistic about the future of
the hobby, but have no plans to stop collecting, although I am having serious thoughts of selling most of my collection and sitting on the sidelines for a few yrs
to see what happens. I simply do not have the time to keep up with fakes, coin Dr's and constantly changing slabs and grading techniques.
<< <i>I vote we melt it all down.
Yep...that's the way to go...after years and years with those 2x2's eventualy sticking to those coins and bangin' around together ..and after all the cherry pickin'....they're gonna be put in the big ole meltin' pot.....!!!
<< <i>I've been to a number of B&Ms in last few months and observe the following...............
....where will all those well worn large cents, V nickels, seated dimes and standing liberty quarters, etc., etc. eventually go?? Millions and millions of 2x2s that people hang onto because they have a price but don't really have a market??
...
>>
There aren't all that many of the coins listed. Wheat cents yes. Dateless Buffalo Nickels yes. A small number of hoarders could likely absorb all of the denominations mentioned above. Sure prices might have to come down, especially for wholesale deals. However, all the genuine low grade common large cents in the world wouldn't cost all that much, or take up that much space, because there just aren't that many of them. Also keep in mind that a few of the old coins are lost each year, due to fire, flood, other disasters.
<< <i>
There aren't all that many of the coins listed. Wheat cents yes. Dateless Buffalo Nickels yes. A small number of hoarders could likely absorb all of the denominations mentioned above. Sure prices might have to come down, especially for wholesale deals. However, all the genuine low grade common large cents in the world wouldn't cost all that much, or take up that much space, because there just aren't that many of them. Also keep in mind that a few of the old coins are lost each year, due to fire, flood, other disasters. >>
Significant percentages of low value coins get lost and destroyed every year. People
even spend junk silver sometimes because it's easier than taking it to the coin shop. The
percentage of wheat cents in circulation has remained fairly steady for decades as people
spend them and many get tossed in the garbage along with other small change. Thousands
of wheat cents a day get tossed in the4 garbage while millions are degrading which lowers
their chance to survive in the long term.
Even more expensive coins suffer attrition though it tends to be much lower.
It is a fact that most younger collectors tend to be less involved and generally have less mo-
ney to spend for coins. They often leave the hobby sometime in adolescence and return when
they get a little older. Even if the hobby were mostly young people one would still tend to dis-
proportionately see older ones at shows and shops.
We haven't been doing a good job of encouraging young collectors but it's not toolate to do
it. I really believe the hobby will be strong for the next couple decades though it won't seem
so for some dealers and collectors who refuse to consider the interests and needs of the new-
er collectors.
Very few collectors go from filling up an album of coins from circulation to studying and buying
old valuable coins in only a few years. It takes decades. In addition to the direction that is so
freely offered them it's also wise to provide a little encouragement. There will be a large wave
of new serious collectors that will start soon and won't peak for twenty five or thirty years. It
might not be enough to offset the losses in retirements at every step but markets have a way
of balancing supply and demand. To most of us it's not critically important that any specific type
or series of coins drops somewhat since markets have always selectively elevated and dropped
coins as collector tastes evolve. A lot of these changes are quite visible well in advance and
this should also soften any blows for those paying attention.
Nothing really is going to change that much but we should all be aware of the demographic bulge
passing through the hobby like an elephant through an anaconda. Coins will continue to be lost
and degraded by various processes and collectors will continue to seek rarity, quality, and div-
ersity of all sorts.
It really should be a great time to get in on the hobby.
<< <i>I've been to a number of B&Ms in last few months and observe the following...............
Most are guys between 55-75 Y.O.
Most say they are doing well on bullion but that general mid to low end collectables are dead.
Most have thousands of 2x2s of various mid to lower grade coins priced $0.50-$40 >>
I wish somewhere in my area had that kind of inventory. That is my price range!
<< <i>Don't run into a lot of kids these days looking to start a common date well worn barber dime collection. >>
I would love a set like that. Are there any online dealers that would help a YN build such a set? A starter set in G/VG or better sounds good to me!
K
When a kid today will spend a few dollars for candy and a soda, or $10+ for a movie and popcorn/drink (more likely that is almost $20 even for a kid), then the value, to them, of a common, low-cost coin, is pretty low.
I think, if they are collecting, many of these same kids will go for coins that are higher grade and a bit more expensive. Between them, and their parents, they can afford more than most of us could as kids before.
Too low of a grade, particularly if not a key coin, and there are few details, so it goes into the "why bother?" pile. Remember, "buy the best coin you can afford" and "take your time". Those 2 things lend themselves to staying away from many of the lower grade/value coins.
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