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 Replies: 43 / Views: 4,024 |
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Valued Member
United States
318 Posts |
I think I need to add estate sales to my weekend activity list...
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Valued Member
 United States
466 Posts |
Tdziemia You're right, I forgot the super rich. Don't rub elbows with them too often. To me, as a collector, I could only imagine spending $25k on an ultimate dream coin trophy. For me, it would be an 1836 Gobrecht dollar. It certainly wouldn't be a common date Morgan condition rarity. And I would spend an inordinate amount of time examining the coin and arguing with myself about spending the money in the first place. For those who view $25k coin purchases as chump change asset diversification rather than a numismatic landmark, this coin's MS-65 sticker might be all they are looking for. Those folks probably don't spend a lot of time on this forum. |
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Bedrock of the Community
United States
20753 Posts |
For the amount of money being discussed, I'd rather buy a new car. Or an older rarer one.
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Pillar of the Community
Canada
849 Posts |
I hear coin prices are stagnant but a new car will depreciate even faster. On the other hand, you can't drive a coin!
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Pillar of the Community
 United States
3166 Posts |
Auction ends this afternoon. The bid jumped from 10k yesterday to 19.5K this morning. At the new price I think I will pass on the flipping idea.
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Pillar of the Community
 United States
7968 Posts |
... but perhaps confirming your initial hunch. Will be interesting to learn what it eventually goes for  |
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Pillar of the Community
United States
3166 Posts |
Final price was 23.5 K without 10% buyer fee added.
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New Member
38 Posts |
I realize this is a coin forum so it's really, really hard to avoid boosters, the irrationally optimistic, people with compelling anecdotes about local coin clubs teeming with enthusiastic kids, etc but according to the inarguable numbers, coin collecting is a dying hobby. https://www.PCGS.com/prices/graph.a...lename=indexhttps://trends.google.com/trends/ex...20collectingGreat for those of us who do not care about herd-approval our hobby interests, but creates dangerous market conditions for people trying to base 'value' on past auction performance. In an era where kids are interested in everything but the popular pastimes of the 1950's-1980's- and in an era where the people who were most active during those years are either retiring and selling possessions and/or dying off- what the future holds for coin collecting is unknown... but how coin prices have been trending over the past decade isn't even arguable. Edited by dollars
04/06/2019 6:52 pm
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Bedrock of the Community
13014 Posts |
Quote:
coin collecting is a dying hobby. No it's not. Many of the people claiming it's a dying hobby are using antiquated measurements. With the internet and social media collecting is actually probably more popular than ever, prices are just much more informed for common issues with the new transparency of availability. Coin clubs are largely struggling, print publications are struggling, a lot of smaller shows are struggling, but none of those are measurements of the hobby anymore. I might make a post about this just because people bring it up so often, but the cliff notes version is price means very little. |
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New Member
38 Posts |
Quote:
but the cliff notes version is price means very little Absurd. Price is the singular metric that rationally weighs demand. The 'measures' you'll be citing for why coin collecting is 'more popular than ever' will be purely anecdotal. Your thesis is along the lines of: ignore coin prices, ignore coin club attendance, ignore the death of coin publications... what matters is, what? Coin Instagram? LOL. I look forward to participating in/debating my position in this post you intend to make. Or if you don't want to, I'll go ahead and make it myself. Edited by dollars
04/06/2019 7:36 pm
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Pillar of the Community
United States
1005 Posts |
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I look forward to participating in/debating my position in this post you intend to make. Or if you don't want to, I'll go ahead and make it myself. And I look forward to reading it  |
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Bedrock of the Community
13014 Posts |
Quote:
Absurd. Price is the singular metric that rationally weighs demand. Only to someone that doesn't understand the factors that came into play. Quote:
Your thesis is along the lines of: ignore coin prices, ignore coin club attendance, ignore the death of coin publications... what matters is, what? Coin Instagram? Publications that haven't figured out how to survive online are failing everywhere, nothing unique to coins. Same goes for clubs. If you cannot figure out the impact that the internet has had on all parts of the world including pricing than it's easy to think collecting is dying. Is drinking water dying because I can order bottled water cheaper online now than I can get it from 7-11? Do you honestly think the traditional 60+ year old is responsible for the millions of ebay sales a month, or that they're the ones buying up moderns and NLCT world issues left and right? Collecting isn't dying, it's changing and will continue to do so. Collecting has supposedly been dying ever since the first collector came about. Your grand parents generation said the same things they just didn't have the internet to make it public. And yes coin Instagram which is HUGE, coin Facebook also huge, coin Reddit moderate size by comparison and so on are all very relevant and direct contradictions. The old ways may be dying but that doesn't mean the hobby is |
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New Member
38 Posts |
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Only to someone that doesn't understand the factors that came into play.
It's a pretty universal sentiment. You're taking a "The world has it all wrong, I'm right" position on price. So, yeah... Good luck with that. Quote:
The old ways may be dying but that doesn't mean the hobby is Oh, but it does. Coin groups on social media centralize the last remaining collectors, but it's a tiny fraction of what it once was, as far as market saturation and the number of households who were involved. I'm unaware of any formal studies that quantify this, but I'm going with what can be observed (and by no means is this an observation that I'm just inventing myself, here) Also, you're literally arguing against immutable market economics. If coin collecting were 'more popular than ever' ([OO!]), then prices would be higher than ever... but they're not. Literally the exact opposite is true. If coin collecting were 'more popular than ever', then every single thing that can actually be quantified about participation would show growth, not shrinkage. I totally agree that dying forms of old-media aren't a relevant indicator, however I'd propose this simple metric. You quantify (roughly, if need be) how many people are in the HUGE!! coin communities on IG and FB. Given that these are your exemplars of the 'never been more popular' Coin World, lets just start with that very simple metric. How many members does the largest coin community on FB have? Edited by dollars
04/06/2019 9:19 pm
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New Member
38 Posts |
Also, for bonus points, do you also say the baseball card market is as strong as it has ever been, given the large communities of card collectors on FB and IG?
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Bedrock of the Community
13014 Posts |
Quote:
Also, you're literally arguing against immutable market economics. If coin collecting were 'more popular than ever' ([OO!]), then prices would be higher than ever... but they're not. Do you not understand what collecting actually is? So because common Morgans are down while world coins and ancients are up collecting is dying? Do you not understand markets? Are you not aware markets can grow as a whole while individual prices can fall? Quote:
Also, for bonus points, do you also say the baseball card market is as strong as it has ever been, given the large communities of card collectors on FB and IG? Guess you missed how that market has been booming............ |
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Posted 04/03/2019 11:30 pm
