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Just how big is the "internet only" coin market?
291fifth
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Is coin collecting actually a hobby in decline or has much of the action passed to a large group of collectors whose only interactions with the market are on the internet. These are collectors who never go to shows, never enter a dealer's shop and never attend a coin club meeting. They must be out there in significant numbers. How else could counterfeit coins in on-line auctions continue to draw in such significant numbers of bidders?
All glory is fleeting.
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There are no shops within 1 1/2 hours of me.
No shows less than 4 hours.
No coin clubs.
In my case online is the default option.
I would love to have all of the things you mentioned but they don't exist here.
Just getting my mobility back after the stroke make me want to stay out of crowds and I don't care to grace the shops that are close.
I would rather spend a marathon day on ebay looking at several thousand coins from the comfort of my couch.
Occasional walk of the dog, my cat on my lap, a cool drink, and bath room nearby, and no wasting of other peoples time.
When factoring in the drive time, small shows are non productive. Fighting over other buyers, wasting the time of the dealer, and physically looking at coins is tiresome.
That said I will hit a couple of major shows this year.
I would never submit bids in an eBay auction to dealers whom I do not know. I'm simply too old to change, and there are too many crooks putting coins up for auction. I don't need to take the chance. Most of what I buy is worth at least several hundred dollars and up for each item. I just don't need problems with counterfeits. I've been there in my youth, and it was no fun to deal with such people thrught the mail.
5%
It always amazes me how much business is done "on-line." For myself, I rarely buy on-line since it is sight-unseen, and since the effort of returning unwanted items is too much work. I much prefer shows and shops. However, even I have begun selling on-line on ebay recently...with mixed results. Esoteric items do seem to get more looks and a larger audience and that is a good thing. But unless you have a following and/or have built your reputation, the commissions are a bit hard to take.
Tom
Member ANA, SPMC, SCNA, FUN, CONECA
online shopping.... however, I stick with known, favored dealers.
Cheers, RickO
The thread title is "Just how big is the "internet only" coin market? "
This can be answered in terms of dollar volume, number of coins sold, number of customers or dealers in each marketplace or by what percentage you buy in each marketplace.
I think that we have answered the last one but what about the others? I think that more coins are sold online but probably more dollar volume at auction and shows.
I would saythat about a third of my coin funds are spent online. Another third is spent at two shops that are about forty minutes away from home. This is, IMO, the best place to spend coin money. And the remainder goes to the three or four good local and regional shows that are held in a year.
I can only see the internet market growing, as collectors continue to seek selection and value. (from their chair of course)
Is coin collecting actually a hobby in decline or has much of the action passed to a large group of collectors whose only interactions with the market are on the internet. These are collectors who never go to shows, never enter a dealer's shop and never attend a coin club meeting. They must be out there in significant numbers. How else could counterfeit coins in on-line auctions continue to draw in such significant numbers of bidders?
OK here's the thing....... now that folks can grade with pinpoint accuracy from images on the Internet, there is no reason to even get dressed now. Let alone go to a show. You're welcome.
Local shows never/rarely have what I'm looking for and, if they do, it is usually below average for the grade and very overpriced.
The only reasons for me to even travel to a major show would be for on-site grading, meeting board members or for professional imaging.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
If I only went to coin shops and shows then I would not have amazing coins, it's that simple.
I am blessed to have a good selection of shops and clubs around me that allow me to get good deals and learn things that I have rarely seen mentioned online.
IOW, who the hell needs social interaction ? Just buy, buy, buy !
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
I am amazed at the responses so far in this thread. I didn't think such a large percentage of posters would be mostly online. Very interesting to me.
I would assume that collectors active on an online coin forum would have a higher percentage of Internet purchases than the collector community in general.
I am amazed at the responses so far in this thread. I didn't think such a large percentage of posters would be mostly online. Very interesting to me.
I would assume that collectors active on an online coin forum would have a higher percentage of Internet purchases than the collector community in general.
Good point. I just thought with all the eBay bashing I hear around here that most people loathed buying coins via the internet
I pay for these B&M purchases with the proceedings from aluminum cans I pick up along north Florida roadways while riding a long-wheelbase recumbent bicycle. So it's a trash to silver conversion program. Online purchases come out of other sources of income.
It's big, really really big.
Not trying to be a trouble maker but that's absolutely the most ridiculous statement I've heard in a while, and I hear a lot of them. I've actually never heard a single person say they can do that, have you? I don't even know anyone that can grade with pinpoint accuracy in hand, even the major TPG's change their mind all the time with the crackouts, and they are among the best in the business.
There are some collectors who collect actual rare coins, and quite honestly a lot of them never appear at a show, and especially a show near you. I would guess 90% of my purchases originate online, either an auction (and sometimes these are small auctions in foreign locals), or on a dealers site, or from an email from a dealer that knows what I look for. If not for the interwebz I simply would not have access to these coins, so I am very happy it's available.
I do go to the local shows on occasion, but it's extremely rare for me to find anything to buy. Really there are 2 big international shows in the US that are about the only shows where I could find things, so I use the internet.
World Collection
British Collection
German States Collection
IOW, who the hell needs social interaction ? Just buy, buy, buy !
I just found out that one can get SSDI for being anti-social . . .
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
It's big, really really big.
Not trying to be a trouble maker but that's absolutely the most ridiculous statement I've heard in a while, and I hear a lot of them. I've actually never heard a single person say they can do that, have you? I don't even know anyone that can grade with pinpoint accuracy in hand, even the major TPG's change their mind all the time with the crackouts, and they are among the best in the business.
There are some collectors who collect actual rare coins, and quite honestly a lot of them never appear at a show, and especially a show near you. I would guess 90% of my purchases originate online, either an auction (and sometimes these are small auctions in foreign locals), or on a dealers site, or from an email from a dealer that knows what I look for. If not for the interwebz I simply would not have access to these coins, so I am very happy it's available.
I do go to the local shows on occasion, but it's extremely rare for me to find anything to buy. Really there are 2 big international shows in the US that are about the only shows where I could find things, so I use the internet.
He was being facetious. It was pretty funny
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Nowadays all dealers need to have an online presence. And anybody can set up a web site, either using a canned system or having one custom built.
With TPG and buying online from reputable dealers with a return policy really makes it great for collectors.
B&M shops pretty much exist for buying. When someone inherits grandpa's collection and knows nothing about coins and just wants cash, he'll take it to a B&M shop.
eBay is pretty safe nowadays for buyers, but most sellers just list overpriced crud and there are very few true auctions.
Right now on eBay in US coins:
All Listings (835,994)
Auction (124,117)
Buy It Now (720,287)
That's 14% auction listings - and 90% of those auctions have a high opening bid. eBay pretty much is still a sheet hole, but it's a different kind of sheet hole now.
Bigger than coin shows, coin auctions, printed catalogs, and B&M stores combined in my humble opinion.
Coin Club Benefit auctions ..... View the Lots
It's big, really really big.
Not trying to be a trouble maker but that's absolutely the most ridiculous statement I've heard in a while, and I hear a lot of them. I've actually never heard a single person say they can do that, have you? I don't even know anyone that can grade with pinpoint accuracy in hand, even the major TPG's change their mind all the time with the crackouts, and they are among the best in the business.
There are some collectors who collect actual rare coins, and quite honestly a lot of them never appear at a show, and especially a show near you. I would guess 90% of my purchases originate online, either an auction (and sometimes these are small auctions in foreign locals), or on a dealers site, or from an email from a dealer that knows what I look for. If not for the interwebz I simply would not have access to these coins, so I am very happy it's available.
I do go to the local shows on occasion, but it's extremely rare for me to find anything to buy. Really there are 2 big international shows in the US that are about the only shows where I could find things, so I use the internet.
He was being facetious. It was pretty funny
mark
I am primarily online. The expenses and time requirement of shows make the decision easier.
This is where I'm at. Although coin show attendance sounds like a perfect day, I'm sitting here with my wife discussing the logistics do going to Denver coin expo next week and I basically decided to skip it due to time. Simply putting travel money into a new purchase online will do fine.
Plus, there is always another coin show. My day will come when I'm not obligated to the max to take care of job and kids. All the associated attendance hassle will be worth it then. It sucks to have that nagging responsibility on the brain the whole time I'm nerding out on coins.
Andrew Blinkiewicz-Heritage
It's big, really really big.
Not trying to be a trouble maker but that's absolutely the most ridiculous statement I've heard in a while, and I hear a lot of them. I've actually never heard a single person say they can do that, have you? I don't even know anyone that can grade with pinpoint accuracy in hand, even the major TPG's change their mind all the time with the crackouts, and they are among the best in the business.
There are some collectors who collect actual rare coins, and quite honestly a lot of them never appear at a show, and especially a show near you. I would guess 90% of my purchases originate online, either an auction (and sometimes these are small auctions in foreign locals), or on a dealers site, or from an email from a dealer that knows what I look for. If not for the interwebz I simply would not have access to these coins, so I am very happy it's available.
I do go to the local shows on occasion, but it's extremely rare for me to find anything to buy. Really there are 2 big international shows in the US that are about the only shows where I could find things, so I use the internet.
Since this shot you took at me is still here, I can only assume you were indeed looking to "start trouble" with me. I couldn't care less though.
With no coin shops or shows at all in my area (or withing reasonable distance), I am held to
online shopping.... however, I stick with known, favored dealers.
Cheers, RickO
This.
Is coin collecting actually a hobby in decline or has much of the action passed to a large group of collectors whose only interactions with the market are on the internet. These are collectors who never go to shows, never enter a dealer's shop and never attend a coin club meeting. They must be out there in significant numbers. How else could counterfeit coins in on-line auctions continue to draw in such significant numbers of bidders?
OK here's the thing....... now that folks can grade with pinpoint accuracy from images on the Internet, there is no reason to even get dressed now. Let alone go to a show. You're welcome.
That was funny.