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Replies: 40 / Views: 5,211 |
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Valued Member
Australia
216 Posts |
You know I've thought about this a bit recently. Why does coin collecting not appeal to new/younger people and expense is one factor. But not necessarily the biggest one. (Not everyone needs to buy that 23 1/2 penny first up.)
I think more that visibility is a factor.
Take southeast QLD, there are three dealers that I know of, and that is with a very large population. There are large towns/small cities that don't have a dealer at all. The dealers that I have seen, SE QLD, Perth, etc, all their shops a very easy to walk by, not really like they jump out at you. (Not criticizing mind you, just an observation.)
Even coin ANDA coin shows and auctions are held in out of the way places. At least in Brisbane they were. And the advertising for them was within the coin collecting community. There was not a lot of awareness that these things were happening in the wider community.
Just my thoughts. Peter
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Pillar of the Community
Australia
541 Posts |
I think part of the problem is the changing attitudes of dealers. I started collecting when I was 6, I would visit the Sydney dealers all throughout my youth and most of them were very catering, eager to share knowledge, Bob Jaggards and Barry Sparkes even gave freebies from time to time. These freebies cost so little yet brings the industry a lifetime of rewards.
This is something I try to continue, whenever clients come with their kids I give them freebies, usually a PCGS graded MS later date and a subscription to the Blue Sheet. They'll look up the coin, find out its value ($10 is still a lot for a kid these days right?) and hopefully learn a thing or two about our hobby.
But when I see dealers at coin shows these days, they don't care for their youngest clientele, a $5 transaction might not do much for them when they're spending $2000 on a table, but they need to see the long term picture.
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Pillar of the Community
 Australia
1006 Posts |
Yeah I know but the thing is someone may be worth 2000 to you now but treating that one young one the same and getting them hooked will probably result in alot more spent in the hobby when they grow up and most likely if the dealer treated them well alot more spent at that particular dealer. It like investing you can buy shares in BHP or Rio Tinto and get an immediate reward but investing in the newer companies gives room for growth and ends up being much more profitable in the future.
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Pillar of the Community
Australia
869 Posts |
I agree totally with what everyone is saying. HOW I STARTED: My dad got me into coin collecting when I was young. He game me an old folder with lots of PURPLE Pennies...why were they purple? Because a huge majority of them were cleaned. There were two nice coins in there though, a 1925 in gF & a 1946 in F (but cleaned). The entire set was pretty much only Pennies. When he traveled overseas in my teen years, he'd bring back some current UNC sets from Cyprus (if he went), otherwise he'd bring back some circulated coins from the countries he travelled to. When we travelled in '92, I held onto lots of circulated coins. On that trip I also got a Disney Dollar note from Disneyland, which is still in my collection. I got an Aussie 1994 $1 from a press machine at the show. More recently I'm unsure of how I got back into coin collecting, but I went to the ACT years ago with my ex. Would've been around 2001-2003? I guess. At that time I must have purchased a 20th edition Renniks, which was published in 2002. Then I don't know what happened... In around 2008 I started looking through notes at work. I held on to quite a few. I had some money so I could hold onto notes whilst also buying other bits & pieces along the way. A paypal account allowed me to sell stuff & utilise the money earnt to spend on this new born addiction. I met some of the right people & got some awesome deals. DEALERS: I guess the biggest issue with the industry has already been said. A lot of the dealers are only interested in what they had probably been interested in the past. They're probably only interested in those things because there lies a great margin for profit. Maybe they have the attitude of getting the dollar in the pocket then & there rather than gaining long-term customers who are younger, who will potentially invest so much more in the future. Then again, I guess the average age of the sellers isn't exactly young (apart from the guys who took over business from their parents/families). THE SHOWS: As for the shows. A lot of old people are there. Some tend to have really bad hygeine/body odour. With all that money in coin collecting you'd think they could take pride in themselves at least once. There was a family or two where the parents wouldn't have been older than 35y.o. I honestly don't really see many younger people at the shows in Melbourne. I'm in the 20-30 age bracket...for a couple more months. MARKETING: What can someone do? The only people who should really be trying to push a marketing aspect into coin collecting should be the RAM & The Perth Mint (TPM). How could they do that? Through marketing via Australia Post, who generally sell a huge majority of the RAM & TPM released sets. Make the marketing catchy & appealing to the youth of today. Start again with some cheap issues. How about releases under the price of $5. Maybe have a limited colour set that has intense viral marketing where you could have a 5c issue for $1. A 10c issue for $2. A 20c issue for $3. A 50c issue for $4. A $1 issue for $5 & a $2 issue for $6. Target the youth of today...one with a lipstick on it, one with an iPod on it, one with a hot car on it, one with a question mark on it? Who knows? Anything goes? That's just my view.
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Pillar of the Community
Australia
869 Posts |
I think I've got to do what I did in Vegas last year...hand out Australian 1/2 Pennies to randoms in a shopping centre. See what response I get. More than half of Australia's population wouldn't have even seen a 1/2 Penny before. The Americans loved them.
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Pillar of the Community
Australia
2180 Posts |
I had a good experience with a dealer last year: I was shopping for coins with a younger family member and the dealer showed this family member an ancient Greek (I think) coin and said how fascinating it was that the coin had come so far. I think this was done more to keep this family member amused while I looked but I thought it was a nice thing to do.
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Valued Member
Australia
216 Posts |
Quote:The only people who should really be trying to push a marketing aspect into coin collecting should be the RAM & The Perth Mint (TPM). The problem I see with this Goatieman is that the low level stuff coming from RAM and Perth is way over priced. I've talked to the RAM about this, I mean 1oz silver for 3 times spot. What are they thinking.... The other thing with the RAM and Perth collectables is that they feel really cheep to me. It's like they are trying to hard or something. Or maybe just bringing out to much stuff. Personally I think ANDA could really take the lead in marketing coin collecting. Imagine a promotion talking about the history of pennies, or proclamation coins, or sovereigns. America has things called type sets, ANDA could bring out like a dansco/littleton folder for the different types sets. Think pre-decimal/decimal type set. Would be 30/40 coins maybe in the set. (rough number from memory so forgive me if my count is wrong) Then kids could fill then with relatively cheep coins to complete the folder. (talking up to $5-$10 per coin). This would get people into collecting and then hopefully they would progress to other sets, higher grades later.
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Pillar of the Community
Australia
869 Posts |
Awesome idea Peter. Something I was thinking about this evening was why not do like a buy back competition. Where kids can get started by noodling through coins & as an example, the kids look through 5 cent pieces & get paid to find 1972's or something like that. Where it'll be beneficial for the kids to really get into their searching skills, they can stat their results (with a mathematical chart). I.e, the amount of each coin of each year they find in a table. & the bonus of a bit of extra pocket money. Even moreso, on top of that, they could do an assigment on the animal on the coin. That'd obviously be targeted towards primary school kids. Hmm...just another idea.
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Bedrock of the Community
Australia
21788 Posts |
I have shared my lifetime interest in numismatics with a few who are close to me. My mother (now deceased) my sister, my daughter and my son all have had an active interest in the hobby, and have spent some significant amounts in the quest for new acquisitions.
Before I married 36 years ago, I sold all of a collection that had significant value, and which contributed to about one third of the total purchase price of our first house. I figured that you cannot build a roof over your head with a stack of rare coins! Perhaps she just appreciated the fact that I was happy to sacrifice all of my original collection to help house our family. I started building the current collection since then, and my wife was perfectly happy for me to spend anything I wanted to on coins; I managed to pay the house off on a single income AND re build a collection of significant value.
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Valued Member
Australia
369 Posts |
Quote: Some tend to have really bad hygeine/body odour . You might be on to something there    
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Replies: 40 / Views: 5,211 |