Is Coin Collecting Dead Or Dumb.

Dumb... No

Dead... Clearly not (see internet, ebay, CCF, ect. ect. ect.)

OP, I do not understand how these frequent critiques of dealers not buying common material at top dollar are fair? If someone makes an uneducated purchase (like an 'MS70 NNC' piece of bullion or something similar) and they overpaid by an arm and a leg, then turn around and try to sell to another dealer, who gives them a dose of reality, and offers to buy at spot, how is that the fault of the second dealer?

Not sure but I remember seeing an add sometime ago that a bank was offering $0.99 for each of those little baby sized dollar coins. I think it was done to show how little of value and desire to use or own one was.
As to this hobby, yes it is getting a bit old lately. Our government is doing the same thing with coins they did with Stamps. Over kill. Just to many piles of things people just don't want such as Proof Sets. Yes at one time those were sort of a thing to want but like everything else, excessive amounts of them and attempts to add in State Quarters and baby sized dollars is making them not to nice to pay for. In the past you could have an Album without proofs but today almost all Album Companies want you to put a proof in there too. Stuff like this is sort of killing this hobby. And yes it is only a hobby. But then too was stamp collecting, sporting cards, Hot Wheels, Barbi dolls and most of all, Beanie Babies.
Myself, I used to like collecting Quarters. And even when they added in the State Quarters I continued but now with almost everything imaginable on the reverse side, I quit those. And Album for all those would be about 10 feet wide. And as to those baby sized dollar coins, no one wants them, uses them, needs them and they just kept on making them anyway.
And with Dimes and Nickels. Just a bit of a never ending same old, same old.
Will things like this end this hobby. Not likely? It is only a hobby.

Amen.

Modern issues after c. 1990 are just mass-produced junk designed and marketed by the US Mint to lure the ignorant consumer.

This despicable scam has nothing to do with the fine hobby of collecting past issues of our coins and paper money with historical interest and scarcity.

Thriving more than ever. Also with today's available resources ( available to all) there are no excuses for a true numismatist to not ultimately be successful. This is a hobby first and can be financially successful to a collector who participates wisely.
I have been a coin dealer for over 40 years and there are many rewards well above the financial gains. The friendships garnered over the years and travel to places I once could only dream of.

I don't think coin collecting is dead or dumb, as some others here have stated. I have enjoyed this hobby for 40+ years, starting out when I was a kid, and I still get a kick out of finding wheats, Canadians, and oddities.

I am of the opinion that the US Mint isn't a big help. I thought the earlier commemoratives were neat, but now there are too many of them to collect. Same with the ATB Quarters and Presidential dollars. They've taken it too far if you ask me.

Most coin dealers are precious metal dealer and make their living on gold/silver. It is a multiple billion dollar business with market hundred and thousands bigger than the collectors coin market. They basically have little interest in minor variety or modern clad coins. Handling them means that their time is spent on nonproductive part of business. Not worthy the time.

when a buyer offers you less then face value, then you spend it....
really very simple.

High grade coins always retain their value.
Low grade coins do not.

The hobby is far from "dead". The introduction of the internet has put a lot of brick and mortar stores of all types out of business. Remember Circuit City? Many mom and pop stores as well. A great deal of remaining brick and mortar stores are finding it difficult as ebay Amazon etc. cut into what use to be walk in traffic.

I have been a coin collector for over 40 years..on and off. What ever I purchase I expect to pay "fair market value". If I were to sell something that I purchased recently and too it to my coin shop of favorite dealer I would expect to get an offer of a portion say 50% or 60% of fair market value knowing they need to make a profit when they sell it. They sell some years of Modern proof sets for just $2.50 - $8.00. Prior to the 28 coin sets anyway.

I can remember hearing that the "hobby" was dying off in the early 90's. When I would go to coin shows almost all the dealers had gray hair as well as most customers. It still looks very much alive now...that my hair is gray as well.