The Death Of Coin Collecting As We Know It?

I have been using coins (and will soon pick up some bills) to help teach my classmates in history.

I sort of believe what matthewvincent quoted was basically right but I think its because we are becoming a disposable society. Everything is throw it away and get a new one. No young person I know of has any sense of keeping something for memorabilia purposes. Some day soon they may find a way to make disposable coins. Debit and credit cards are taking over very fast nowadays. Most of what the mint is putting out is for collectors only. Go into Wal-mart and pay for something with a Presidential dollar and see the reaction.

Just my thoughts

edgman

I am more concerned about the decline of circulation coinage (too much online payment stuff!) than coins becoming too expensive because finding cool coins in change is probably what created alot of new collectors- get rid of such a great collector creator and you won't have to worry as there won't be enough people to drive prices up.



Yes, so am I. Darned email!

Tetradrachms are pretty common; it's decadrachms (also spelled dekadrachms) that are scarce and super-expensive.

But to answer your question here: A coin's history does not end just because it winds up in a museum or in some collection that never sees the light of day. Coins, especially precious metal coins, are entirely capable of outlasting such temporary human institutions. Even the countries that issued the coins are not likely to outlast them. Museums fold; collections are sold off and dispersed, and great rarities come onto the market once again.

Coin collecting will get harder, and it will get harder to find a coin collector, but I don't think numismatics will ever die off completely. The human population is constantly increasing and not likely to stop doing so anytime in the near future, while the number of surviving coins is decreasing slightly, as it is inevitable that some coins are lost each year through accident, vandalism, natural disasters or recycling.

If the proportion of the population that collect coins were to remain constant, this ever-increasing demand and ever-shrinking supply ought to generate perpetually rising prices for coins; the only thing that could stop this is a reduction in the proportion of the population that are coin collectors. And I agree with jbuck that coins are obsolete technology; they will eventually go the way of the slide rule, crystal radio and oil lamp - they'll still exist, and enthusiasts will still own and treasure them, but they will become historical curiosities, no longer a part of the everyday life of most people. When that time comes, demand for coins will drop, as the number of coin collectors fades into insignificance.


They already have. I believe you call them "zinc Lincoln cents". Use them once, then throw them away.

I think coin collecting will always be around. If for some reason coins are stopped being minted and all transactions are electronic that might spark even more interest in collecting. The government may still mint small qualities for collectors like the they do the half dollar now. It's legal tender but not intended for circulation.

A lot of higher value coins are bought up as investments, and a lot of them wind up in private superannuation funds. At least, that has been a trend for around 20 years or more in Australia.

However, the current 'baby boomer' superannuants will eventually kick the bucket, and the numismatic investments from those funds will find their way back into the market. This is one of many reasons why I think the long term future of numismatics is secure.

I am gratified to see so many well-thought responses.
There is, of course, no correct nor incorrect answer.
But it got you all to think!