My Reasons Why The Canadian Coin Market Is Still 'Depressed'

I'll admit that when I got back into coins I was 50-50 numismatic and bullion. But one thing that turns me off is the RCM and their nonstop flow of uninteresting non-circulating coins.

In my head I have been contemplating this issue... I'm actually quite glad this thread came up as I see I'm not the only one who is concerned.

My premis is a bit different. I compare coin collecting to that of stamp collecting. In fact it is my belief that they were started with the same mindset. You take something that may have some different issues or dates but something that is relatively common and cheap and hold onto one or two and amass a collect.

It is my opinion that stamps while still around are going the way of the dodo.. people usually will send correspondence using e-mails or text but hardly ever send a letter. So post is less personal letters and probably growing with commercial business. Ask a bunch of kids between the ages of 12 and 18 how frequently they buy stamps... or have received personal correspondence via post mail with stamps... The answer will be very few...

How does this all relate to coins and paper money collecting? Well I'm thinking mintage numbers are decreasing and use of common currency ... I could see that in less than ten years currency like stamps may be replaced for electronic means. This means less people will gain interest in this hobby.. and those with the "collector bug" will probably look to something else...

That's just how I see it....

The RCM cranks out this year over a coin a day with about a third sell out or most of the coins in dealer's stock, collector's seem to keep buying the NCLT. Just look at recent coin show on TSC, or the thread on the October release, some collectors are excited on upcoming coins while the recent GTA shows this year seems to be poorly attended. The money and interest seems to be else where in this hobby.

I sincerely hope coin collecting never goes downhill as stamp collecting has.

I happened to go to a stamp show about 5 years ago (I was 50 years old at the time) and honest to God, the first stamp dealer said to me as I approached his table was "what are you looking for today Sonny!"

I told him it's been about 40 years since someone called me 'Sonny', but he was probably 80 and the average age of the stamp dealers were probably in their mid to high 70's.

It's a shame because stamp collecting was one of the big hobbies for the kids of my generation (and before) but certainly no longer.

I have been to both coin and stamp shows and I have to echo past comments regarding older people (exclusively male) attending these shows. Not only that but these shows are virtually empty. I don't think this bode well for circulation coin collecting.

Also, the local coin shops in my area are owned by men in their 60's, 70's. No one will be taking over these stores when they pass on.

Lets face it, young people are not into collecting anything. They are into social media, electronics, gaming, etc.

If they do collect coin, it will be NCLT. The latest shiny thing, like the Superman coins. Not a 1936 silver dolar or a 1944 penny. They want something relevant, not something from the distant past.

As a collector that never sells, I've had to select carefully the coins I want.
I could never get into the Superman series. The variety of NCLT is crazy! I've decided to minimize those purchases in the future and stick to a small bullion hoard and complete my sets. I feel alienated by the mint since the average Canadian couldn't begin to afford the variety they produce. I never began collecting to make a buck. I do it because it reminds me of time spent with my Dad and the possibility of finding a diamond in the rough. Want to promote coin collecting? Give a small set to a child and make it the family fun it once was.

I have observed many of the same things discussed in this thread, and agree with many of the points made. From my perspective, the coin collecting hobby is dying due to several adverse factors:

1. The generation that's been keeping the hobby alive all this time is dying off, with no new blood taking an interest to carry it forward. No market can continue to exist when there is no demand.

2. The routine whoring by the RCM of their NCLT products in an attempt to redefine, monopolize, and control the market; and sadly, it's working. Ironically, as I just finished typing that sentence, I received yet another RCM "Sell-out alert" email notification in the corner of my screen...

3. Adverse economic conditions, particularly hitting working/middle-class families the hardest: resulting in a decline in "entertainment" spending. Although the economy has made a slow rebound, the overall financial positions of family households differs drastically from earlier generations.

4. Recent declines in bullion prices. The precious metal price indexes are linked with coin market trends, so there is perceived risk (generally by noobs) in an era where people have a very low risk tolerance.

5. People are just too busy. People don't work 9-5 anymore, nor do they restrict their lives exclusively to job & household interests. People nowadays lead active lives, they're more social, and get sucked into technology in ways that I can't even comprehend. Also, people in mega urban centres, like the GTA, lose on average 10-15 hours a week by simply commuting. That's insane!

Although I am of the younger demographic (in my 30s), contrary to #1 (above) I'm in a very fortunate and unique position where I can invest time and money into the hobby that I've been fully immersed into since I was a kid. Most people in my generation are too consumed in their otherwise full daily lives, even more so in large urban-centres like the GTA. I too try to attend local coin shows in certain parts of Ontario, and I've observed the same trends many of you noted earlier: low turn outs, aging demographic, a lot of unhappy faces, and understandably resentful/bitter dealers. Attendance at the few coin shows I've attended this year have been so low that I have overheard some vendors (several booths away) complaining to their neighbours that they haven't sold a single coin, or asking their fellow peers "why am I even here?". When you think about the time and expense these guys put in to travelling to these shows trying to earn a living, you gotta feel for them because you know they aren't making any money doing it. The only ones who seem to enjoy being at the shows are the true enthusiasts, which are few and far between.

But here's a thought for getting some new blood:

Since I'm a big proponent of delivering "shock value" to people, I periodically go to a coffee shoppe and pay for my coffee with an old heavily circulated $1/$2 bill, or if I really want to wow them, spend a nickel 50c piece. The reactions on peoples' faces are priceless, but more importantly, the young people who receive these "odd" payments are so mesmerized by them that they (a) immediately want to know more about the currency I've handed them, (b) parade their "strange" find to their fellow co-workers, and (c) set the money aside to (presumably) purchase it at par value from their register. The point it: little things like that can create enough interest and conversations that can potentially lead some new blood into the hobby.