So you think coin collecting is declining....

RWB · April 18, 2011 7:17AM

Well, if you take a look at the Northeast Astronomy Forum and Telescope Show show held last weekend, you’ll see a vibrant, growing hobby. 140+ dealers, 175 participants in workshops, seminars, etc. (held across the street, too), several thousand attending, and almost no one leaving on Sunday.

Notice the variation in height, good lighting and variety of presentation – making a college gym much more inviting that the usual coin bourse dungeon.

[www.skyandtelescope.com]

LindeDad · April 18, 2011 7:27AM

pennyannie · April 18, 2011 9:19AM

You have to wait in line and pay 8 bucks to get into the local gun shows around where i live, there is no waiting and less people with visible tats at the local coin shows. It is 6 bucks cheaper at the coin show.

questor54 · April 18, 2011 9:27AM

I don't think show attendance is a reliable indicator of the health of coin collecting overall, depending on what you mean by coin collecting, of course.

It is just a guess, but I would think the TV marketeers probably sell more coins by dollar volume than the rest of the trade combined.
Then there is eBay in it's various national versions. Hundreds of thousands of coins always available - who knows what the dollar volume is?
On-line auction sites such as Heritage, Teletrade, etc. Less volume, of course, but the number of this type of good sites is increasing.
Dealers with good on-line fixed price listings - more coming along every day and the quality of each increasing dramatically.

All of the above DID NOT EXIST in the golden age of the coin show and the B&M dealer. Coin collecting is not dying, it is just demanding that dealers change and expand their business models.

Plus, we all know coins are nerdy. Not as nerdy as telescopes maybe, but nerdy. Figure out a way to make coin collecting 'cool' and the world will beat a path to your door.

SkyMan · April 18, 2011 9:49AM

<< Plus, we all know coins are nerdy. Not as nerdy as telescopes maybe, but nerdy... >>

Oh please, I've taken a reasonable number of women out "to look at the Moon (stars, planets etc.)". A blanket or pad is de riguer. Some very interesting things can occur. I've never seen even one woman turned into a romantic mood by coins.

slipgate · April 18, 2011 9:53AM

Oh I've seen women turned on by coins.......lots of coins...being spent on them to be exact!

llafoe · April 18, 2011 9:53AM

<< 

<< Plus, we all know coins are nerdy. Not as nerdy as telescopes maybe, but nerdy... >>

Oh please, I've taken a reasonable number of women out "to look at the Moon (stars, planets etc.)". A blanket or pad is de riguer. Some very interesting things can occur. I've never seen even one woman turned into a romantic mood by coins. >>

You might pick up more women if you preface your conversation... Would you like to go out in the woods with me and see the stars with my $3,000 telescope or would you like to look at my $100,000 Morgan Silver Dollar in my bedroom? Good Luck!

questor54 · April 18, 2011 9:54AM

<< 

<< Plus, we all know coins are nerdy. Not as nerdy as telescopes maybe, but nerdy... >>

Oh please, I've taken a reasonable number of women out "to look at the Moon (stars, planets etc.)". A blanket or pad is de riguer. Some very interesting things can occur. I've never seen even one woman turned into a romantic mood by coins. >>

Excellent point. (My telescope comment was tongue-in-cheek, so to speak.)

The immortal genius who invented the Registry managed to appeal to the male need for competition.
The collecting of anything appeals to the male need for the hunt.

What in coins appeals to women? Not much. All they see is something that takes the attention and the resources of THEIR man away from THEM, and they find that very threatening. I don't think there is a way to make coin collecting sexy. Your woman will always feel in competition with your coins, and for every true collector the coins will win.

USMoneylover · April 18, 2011 9:59AM

<< 

<< 

<< Plus, we all know coins are nerdy. Not as nerdy as telescopes maybe, but nerdy... >>

Oh please, I've taken a reasonable number of women out "to look at the Moon (stars, planets etc.)". A blanket or pad is de riguer. Some very interesting things can occur. I've never seen even one woman turned into a romantic mood by coins. >>

You might pick up more women if you preface your conversation... Would you like to go out in the woods with me and see the stars with my $3,000 telescope or would you like to look at my $100,000 Morgan Silver Dollar in my bedroom? Good Luck!

>>

DoubleEagle59 · April 18, 2011 10:12AM

<< I don't think show attendance is a reliable indicator of the health of coin collecting overall, depending on what you mean by coin collecting, of course. >>

I don't know about that. I think I disagree.

Seeing the turn-out at coin shows tells me two things.

1. the hobby is slowly dying as the numbers of attendees is dwindling.

2. the average age of these attendees probably were around when the steam engine was invented.

Not good indicators for the viability of the hobby if you ask me.

LindeDad · April 18, 2011 10:25AM

<< 

<< I don't think show attendance is a reliable indicator of the health of coin collecting overall, depending on what you mean by coin collecting, of course. >>

I don't know about that. I think I disagree.

Seeing the turn-out at coin shows tells me two things.

1. the hobby is slowly dying as the numbers of attendees is dwindling.

2. the average age of these attendees probably were around when the steam engine was invented.

Not good indicators for the viability of the hobby if you ask me. >>

Well since the first commercially successful engine did not appear until around 1712 coin collecting sure seems to lead to longevity. at least.

Tiny · April 18, 2011 10:40AM

I do not think a bunch of people at a coin show is a guage to our hobby either. My local
club is having a jump in membership that has not ever been seen and seems to be even
more at our mini show in place of meetings. I have been collecting coins for 50 years and
it is still hard to find a friend or someone on the street that collects coins but they are out
there and I believe that with the YN programs and other ways will keep the hobby alive. I
think you have to seperate collectors, dealers and investors to see the real hobby. The key
word is COLLECTING. The hoarding of, or hoping to increaseing the value of your bullion or
coins for a big pay is not collecting.
MOO

Rollerman · April 18, 2011 12:33PM

In the last 10 days I have been to a coin show and two auctions, things were booming at all three!
Pete

mrpotatoheadd · April 18, 2011 12:54PM

<< 2. the average age of these attendees probably were around when the steam engine was invented. >>

I attended my first coin show over forty years ago. The average age of the people attending shows today doesn't appear to me to be any different than back then.

Was there ever a time when coin shows were heavily attended by kids? I kind of doubt it.

PCcoins · April 18, 2011 1:19PM

I believe the bullion area of coin collecting (if there is such a thing) is on fire and bringing non coin collectors to shows and auctions to get in on the action.

stevek · April 18, 2011 1:40PM

<< 

<< 2. the average age of these attendees probably were around when the steam engine was invented. >>

I attended my first coin show over forty years ago. The average age of the people attending shows today doesn't appear to me to be any different than back then.

Was there ever a time when coin shows were heavily attended by kids? I kind of doubt it. >>

Exactly right.

Frankly, I see some apples and oranges, irreverant comparisons here.

Who cares about a comparison of an astronomy show to a coin show, and why should that matter?

I believe the coin collecting hobby is as healthy as it's ever been.

DBSTrader2 · April 18, 2011 1:44PM

Yes, stevek......... but you ALSO believed the Phillies would repeat in 2009 & 2010!!

- - from another disappointed Phillies fan & coin collector

stevek · April 18, 2011 1:51PM

<< Yes, stevek......... but you ALSO believed the Phillies would repeat in 2009 & 2010!!

- - from another disappointed Phillies fan & coin collector

>>

Yea, but my coins have never disappointed me.

PerryHall · April 18, 2011 9:17PM

<< 

<< 

<< 2. the average age of these attendees probably were around when the steam engine was invented. >>

I attended my first coin show over forty years ago. The average age of the people attending shows today doesn't appear to me to be any different than back then.

Was there ever a time when coin shows were heavily attended by kids? I kind of doubt it. >>

Exactly right.

Frankly, I see some apples and oranges, irreverant comparisons here.

Who cares about a comparison of an astronomy show to a coin show, and why should that matter?

I believe the coin collecting hobby is as healthy as it's ever been. >>

Totally agree. I've been collecting since the mid 1960's including membership in coin clubs and attending coin shows and the average age of collectors hasn't changed since that time. All the commemorative coins and all the new state quarters, territories/DC, and the ATB quarters have made new collectors. With all the interest in gold and silver many are now buying coins in precious metals as investments. I see the coin hobby/industry as being quite healthy.

ricko · April 18, 2011 9:35PM

I do not think coin collecting is declining. If anything, it is growing. That being said, I still do not understand the concern over such an issue, unless it is concern from a business or profit standpoint. Collecting is a personal endeavor, a hobby that holds one's interest and gives satisfaction outside of the work-a-day, hum-drum world of cares and woes. Coin collecting is a pursuit I choose to involve myself with, and whether or not others purue the same interests is of no concern to me. If suddenly there were no more coin collectors and no shows or forums, I would still collect and enjoy my coins. Cheers, RickO

ambro51 · April 18, 2011 10:28PM

If you took 50 serious amateur astronomers and lined them up with 50 serious numismatists you COULD NOT TELL THE DIFFERENCE.

Ive walked both courses, and in fact still have three of my best telescopes. The only trouble with astronomy is that you CAN nearly learn it all (to the limitations of your telescope) and the money flow situations are quite different.

There are people who collect odd, rare and unusual telescopes..........Alvan Clark Refractors, Cave Optical Reflectors, Unitrons.....

But all in all I looked at stars/planets for decades and dont feel that Id benefit from any more observations....Though it was super neat to see the International Space Station with the Space Shuttle attached (and yes you can see this in a mid size telescope). Locating Uranus and Neptune...and seeing asteroids track daily....that is a blast of sorts.

questor54 · April 18, 2011 10:30PM

<< I believe the bullion area of coin collecting (if there is such a thing) is on fire and bringing non coin collectors to shows and auctions to get in on the action. >>

dpoole · April 18, 2011 10:47PM

There are fewer and fewer uses for coins. Even parking meters have swipes for credit/debit cards. Inflationary pressure means coins (as they are now denominated) don't buy much; they are mostly used for making change in cash transactions, and fewer people are happy about carrying coins around just for that. Kids get five dollar bills plus from the tooth fairy, not quarters. Electronic transmissions dominate for purchases and bill payments.

What makes these times different from the days our our respective youths is that coins--and cash--are on their way out. Coins will always retain their historic interests and selective beauty for the collector, but their lack of access and desireability for kids will probably mean that the hobby will shrink to the specialists over the long haul, and the feeder population of pre-teens filling Whitmans will no longer exist.

stevek · April 18, 2011 11:00PM

<< There are fewer and fewer uses for coins. Even parking meters have swipes for credit/debit cards. Inflationary pressure means coins (as they are now denominated) don't buy much; they are mostly used for making change in cash transactions, and fewer people are happy about carrying coins around just for that. Kids get five dollar bills plus from the tooth fairy, not quarters. Electronic transmissions dominate for purchases and bill payments.

What makes these times different from the days our our respective youths is that coins--and cash--are on their way out. Coins will always retain their historic interests and selective beauty for the collector, but their lack of access and desireability for kids will probably mean that the hobby will shrink to the specialists over the long haul, and the feeder population of pre-teens filling Whitmans will no longer exist. >>

No disrespect, but I feel your overall point is more applicable to postage stamps, and not coins.

In fact, if it plays out like it could with the way government is abusing and wrecking our financial system, coins with valuable metals such as silver and gold could actually make a strong comeback for basic personal financial transactions.

In any event, for a variety of reasons, the cash and coin economy is simply not going away anytime soon in the foreseeable future.

Bankerbob56 · April 19, 2011 2:46AM

One thing that makes it difficult to gauge the volume of collectors in this hobby is the need for privacy! Very few people realize that I collect coins. My family and very close friends are the only ones that know in my immediate surroundings! I don't even keep much of my collection at home anymore for security reasons. So, that being said I think the level of collecting is probably underestimated. I admit that I am even hesitant about filling out the annual survey from Heritage! The last one got shredded before it went into the garbage!

I was tempted to use George W's phrase "misunderestimated" but I love the guy so much that I didn't want to......

But I miss GW!!!!!!

ColonelJessup · April 19, 2011 3:18AM

<< I was tempted to use George W's phrase "misunderestimated" but I love the guy so much that I didn't want to......

But I miss GW!!!!!!

>>

OT: The Alfred E. Newman of American presidents.

PerryHall · April 19, 2011 3:36AM

You clowns need to read the rules concerning political posts.

Klif50 · April 19, 2011 3:51AM

In my younger days I was a rabid/avid coin collector, stamp collector, comic collector, baseball card collector, gun collector, precision shooting aficionado, and amateur astronomer. As I reach the point of older age and declining vision I've found that all the hobbies are falling by the way side. I can't see fine detail on coins, stamps, cards, comics or even guns, I'm still a good shot but it takes me a bit to get on target and I can't see squat out of my telescopes. I recently thinned the herd and got rid of my dobsonion and my Meade refractor and reflector since it doesn't seem to make any difference in what I see through any of them since it's all a blur. I think the aging out of collectors (check the median age of members of this group and you'll probably find 15 people in their late 50s or 60s to ever 1 you find that is 25 or younger. Just my 3 cent stamp worth.

So you think coin collecting is declining....

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