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 Replies: 30 / Views: 3,718 |
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Valued Member
United States
139 Posts |
Where is the future of coin collecting headed? We are starting to see an influx of young numismatics that we haven't seen in a long time. Also, the older generation is getting fewer and fewer. What does this mean for our shared interests? I am one of those guys who like to ponder the direction of human behavior and seek out patterns. I am 30 years old, putting me in between the two generation extremes. My age range (25-45) seems to be the gap in collectors. I just wanted to share my thoughts on all of this and hopefully get your observations as well! Why are the main collector ages so far apart? First, 25-45 is the key family building age. A family man has to work more to provide for the family, as well as spend free time caring for your kids. Hobbies tend to get sidelined. However, in years past, there were plenty of collectors in this age range. My observation is that A) This generation is the first to work harder for less spending power than previous generations. This means longer hours, and less free time. And B) There were just less interesting coins in the past 20-40 years. All the US coins have pretty much retained the same design my entire life. When they do redesign something, it seems to be pretty unfavorable, example: Zombie Jefferson nickels and Zincolns. Before the State Quarter, it was hard for a kid to get excited about current coinage in the US. I think the influx of new numismatics is due to three key things: New interesting coins, older generations passing on collections, and the internet. The State Quarter gave kids a reason to look through pocket change again! Now you had collecting goals that were actually obtainable through circulation! The internet has given us the opportunity to search every detail of any and all coins in the world! What is that weird coin in your change? Let's look it up online! The internet also gives the opportunity to shop for coins without needing to go to a b&m store, which can be very intimidating to a young person (or anyone). Since US minted coins have lost almost all actual metal value, I think circulation collecting is going to be more and more rare. Combine that with lackluster designs, better minting techniques (resulting in fewer error coins), and non-durable metels (zinc rot), it will be near impossible to find anything in circulation in the future. This will make it harder and harder for people to get interested in collecting, meaning the pool of collectors will get smaller and smaller. Collecting will eventually be too expensive for most regular folks. Hopefully this new batch of collectors can spark a new wave of interest that will propel us through for quite some time! Sorry for the longwinded post, it's been on my mind and I wanted to get your guys' opinion! |
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Pillar of the Community
798 Posts |
Right now I'm 18 and have never met any other kid interested in what I'm interested in. When I'm 70 I`ll be able to say that (when I was a kid) I started collecting coins. I agree with all you have said and didn't even think about some of those things before but arnt coins going to become digital in a way, people are already using credit cards everywhere and at school everyone asks me what I think of bit coins and all that. I hate them. For some reason a lot of people seem to think its boring to collect coins and I was never able to find out how that could be possible before I started collecting because I was to young. if you want to find out more about the potential future of coins then ask the coins.  |
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Pillar of the Community
Australia
3831 Posts |
I personally think there are a few game changers. Obviously this is subjected to opinions and I could be very wrong.
1) The era of investments. Like it or not, people want to buy something that's worth money. Agreed, you can argue that collectors have a different mind set from investors but look at what people are willing to pay for ultra rarities.
2) The era of counterfeits. Unfortunately, crooks realize that there's money to be made. Hence the rise of counterfeits. Cost of making one coin could be less than 10 cents. Everything else is profit. Ouch. But on the hindsight, this forces any average collector to raise his / her skill to identify counterfeits.
3) The era of modern commerce. Yes, we can embrace the internet as some coins are just impossible to find in your local brick and mortar store. I collect some obsure coins and these are something that can only be found in the internet. In fact even large auction houses embrace internet bidding as this allows more competition.
I'm certain thre's more but there's all I can think of right now.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Pillar of the Community
United States
964 Posts |
JoshHellcat is.....Sheldon Cooper!
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Valued Member
United States
86 Posts |
As a father of two in his 40s, I find it hard to have any hobby. I've been collecting since I was about 10. But I must say that finding something in circulation isn't as fun as when I was a kid. There was still a chance to find the rare silver coin in change then. Now.... The best is a shiny new coin for my collection. What does that leave, surfing ebay? |
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Pillar of the Community
United States
1314 Posts |
There are fewer collectible coins in circulation now than there was 40 or 50 years ago - especially silver. And with a lower standard of living, there will be less disposable income and less leisure time. The greatest harvest from circulation appears copper cents (mostly for the copper)and type sets. That leaves purchases, not the best way to get a youngster started.
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Pillar of the Community
United States
1158 Posts |
The standard of living isn't lower! We have more disposable income than ever. We just spend it on cable and cell phones and cars.
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Pillar of the Community
United States
1156 Posts |
Some of us (at least me) have set aside this hobby and picked it up again in later years so what you may perceive as a gap may change as this group gets older and finds a bit more leisure time. Quote:
We are starting to see an influx of young numismatics that we haven't seen in a long time. An exciting trend! Was there a poll that showed this statistic? ~jack |
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Pillar of the Community
United States
1158 Posts |
I'm a guy in my 30s, married with kids who has just picked up the hobby. A couple of my kids are just as excited about my coins as I am. And they love hunting through coin piles trying to fill the folders. It can be a family affair. It also doesn't have to take that much time.
What I think is cool is that there are a lot of ways to participate. You don't have to spend massive amounts of time or money, but you certainly can. You can participate with a little floating money to do coin roll hunting, or fill quarter albums, or you can invest hundreds or thousands a month in slabbed graded coins. Or you can just hunt down coins you think are cool, coins from your birth year, silver coins for bullion value, or a million other ways. Just thinking about the history is enjoyable. I was holding a 1941 Walking Liberty today and thinking that someone might have had this in their pocket when Pearl Harbor was bombed, or my Grandpa could have used it to buy my Grandma a shake when they were dating.
Anyway, I think the recent runup of silver prices has a lot of people participating for melt value coins. I don't know if it has more or less appeal than in the past. Probably less given the propensity for using electronic payment vs cash. It does seem like the super rich are more willing than ever to drop obscene amounts of money on rare collectibles of any kind. Makes you wonder where the market for everything in between rare and melt value coins will land.
Edited by tkbslc
07/06/2014 3:08 pm
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Pillar of the Community
1325 Posts |
Quote:
Where is the future of coin collecting headed? everyone will be antique coin collectors, because within 50 years I predict all "cash" to be eliminated in favor of digital currency like credit cards and such. governments can issue "currency cards" like a SSC or credit card and just charge to replace lost ones like a driver's license. having a photo ID of the user would also make sure less fraud occurs, and Apple will have some kind of app as will other specialty devices like the digital Monopoly board game to transfer money from one user to another for "personal/private" transactions. the devi es will cost a lot, break down often and turn the BEP and USMint into tech departments so they make more money by sending out electrons and not having to actually create any currency. the only place coins will be available is in nations that cannot afford the full digital technology, meaning they will have to produce many excess coins from addicted collectors that need something to collect which would spur their economy with the foreign exchange transfers so they will in the end have enough money to go fully digital currency and even stop making coins for themselves, then EVERY coins today would be an antique. 2009 Early Life Zilcolns will appear on ebay for $200 each at Good or Fine quality.  |
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Pillar of the Community
United Kingdom
837 Posts |
Quote:
The greatest harvest from circulation appears copper cents (mostly for the copper) Yes !  It certainly looks that way .... |
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Pillar of the Community
United States
964 Posts |
So let the coin hoarding begin!
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Pillar of the Community
United States
1156 Posts |
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Bedrock of the Community
United Kingdom
17946 Posts |
There's definitely been an upsurge of interest in collecting among younger people in the UK over the past 2 - 3 years, since the issue of the Olympic 50p pieces. There have also been quite a few issues aimed fairly and squarely at younger collectors, such as the Isle of Man Harry Potter crowns. It's true that young people have a lot of other things to spend their money on, but some things are getting cheaper - I remember paying between 50p and £1 for a seven-inch 45rpm record whereas today's teenagers download one for a fraction of that.
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Pillar of the Community
United States
4809 Posts |
The current 20-somethings use debit cards for everything (no change to search). Even 30-40-50 year-olds are going more to cards for payment. I agree this will drive down the need to produce coins and coins of today could indeed be more valuable than face value - to collectors. But the supply will be there for a low demanding group of hobbyists.
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Pillar of the Community
United States
1314 Posts |
Maybe my perspective was skewed because I am running out of time and money. Still, I try to plant the seeds of collecting where ever I go. Many cashiers appreciate learning a bit about silver coins, wheaties, War Nickels and steel cents. The nieces and nephews are encouraged to build State Quarter sets, type sets and Birth Year sets. One of the boys got a Sacagawea dollar and a documentary on DVD of the Lewis and Clark expedition. Recently, he got A Susan B. and is supposed to tell me what he researched about her. When he does, he'll get an Ike with the same assignment. I like to carry a small pouch with 15-20 inexpensive foreign coins. That and a globe make for a geography lesson. And if the coin depicts flora or fauna, there could be a science lesson. If I can instill the interest, they will find the way to collect. |
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Replies: 30 / Views: 3,718 |
Posted 07/05/2014 8:28 pm
