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 Replies: 23 / Views: 4,117 |
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Pillar of the Community
United States
7375 Posts |
My six year old son IS INTO IT! We look at lots of pennies and nickels together. He thinks every odd coin he looks at is an error or something special. I just bought him his 2007 birth year proof set for his birthday. I'm not sure he'll be interested when he's older, but now HE'S INTO IT.
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Pillar of the Community
 United States
606 Posts |
Great replies. I guess like everything, the evolution continues. My guess in the next 10 years, our local coin shop will be gone, and more and more will be ordering and selling online. The costs for a brick and mortar establishment will give way completely to a younger generation using Web 2.0, ebay, and online sites. It would be an interesting comparison to see the average age of a local coin shop versus e-bay coin buyer, as well as how much overlap between the two. My guess is a number of older collectors are not even aware of a community of practice such as this web site. |
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Valued Member
440 Posts |
They are several intelligent young people who post on this site regularly; that should tell you something.
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Moderator
 United States
56855 Posts |
MontanaCMR, "I can't even get my 2 girls to look at the coins". Maybe if you find out what does interest them,like flowers or birds or animals etc. Those things can be found on coins. That might get them started on the hobby and then they might move on to something like collecting a birth year set or LWC. I agree coin collecting is an older persons hobby even though I started at age 9. I hardly ever see kids or even females at shows/shops over the last 40+ years of going to shops/shows. I don't think it will die out any time soon. There's my Two Cents worth  John1  |
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Pillar of the Community
United States
937 Posts |
I have been collecting since 1971; I have been hearing how the hobby is dying since 1972. Prices are of all coins in higher circulated and uncirculated coins show upward trends over just about every five or ten year period you can look at. A large percentage of this community is under 40 with an almost shocking number under 25. If you doubt this find the 'age of Poster thread.'
This does not sound like death to me.
Yes, there is some softness in the market, yes gold and silver prices are down and have been trending down for well over a year. It is called a cycle for a reason. We are in a time of readjustment and (perhaps) correction. I see this as the start of of better times for the 'true' collector. The smart investor money is already moving away from metals and coins that is rather obvious. This is not the death knell it is just change.
The hobby will live on, it will change but it will live. Remember the more things change the more they stay the same.
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Pillar of the Community
United States
7840 Posts |
I wish that there was a coin shop in town that I used to visit before the internet. I would spend hours there discussing coins with the owner and the regulars who used to stop by on Saturday afternoon. That coin shop of yesterday is now more of a precious metals exchange than a numismatic meeting place. Sigh.
The internet is a blessing and curse for hobbies. There is a tremendous outreach that spans the world, however the ability to examine the item in-hand is just about nonexistent.
Edited by oih82w8
10/14/2014 09:44 am
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Pillar of the Community
United States
593 Posts |
I got my Grandson into collecting coins when he was 9yr area and almost 13yrs now and he has accumalated quit a collection. Even a 1822 Bust 1/2 half. His mother has a booth at an antique mall and goes to garage sales and asks if they have old coins. Very productive. I gave him a 1909-to 1958 LWC Whitman that was my 2nd set. Plus extra IHC and Buffalos. I had mostly circulation finds that got when I was his age. He has all the State Quarters and modern proofs etc and doing a great job. Just like me only many yrs ago |
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Bedrock of the Community
United States
17884 Posts |
The average age of collectors now is in their mid fifties. Forty years ago when I started collecting the average age was in their mid fifties. Go back to the old coin periodicals of the 1940's and look at the pictures of the collectors in the "Club News" section and you will find that they are in their mid fifties. Go back to the pictures of the collectors attending the first ANA conventions at the beginning of the 20th century, they are in their mid fifties. For over a hundred years the average age of the collector has been mid fifties. I don't see that changing. HOWEVER, the group in their mid fifties right now is the baby boomer generation, the largest generational group. As they die off in 25 to 35 years, the following generation will be a little smaller. But I don't think that small decrease will have that much of an effect, and then the generation sizes start growing again. |
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Moderator
United States
23522 Posts |
Whoopee! I'm average! |
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Rest in Peace
United States
7075 Posts |
Quote:
For over a hundred years the average age of the collector has been mid fifties. Quote:
Whoopee! I'm average! I'm above average. LOL |
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Pillar of the Community
United States
1132 Posts |
After spending quite abit of time on this forum the past few months, I'm amazed at how many people once they inherit a collection feel the need to nurture and grow the collection once their loved ones are gone. I think it helps them to connect with their loved ones even after they are gone. More often then not they come here more interested & drawn into the hobby instead of looking for advice to hawk off their legacies.
Edited by CopperCastle
10/17/2014 02:01 am
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Pillar of the Community
861 Posts |
If the avg. age of collectors has remained stable at mid 50's, that means the number of collectors has GROWN tremendously. People are living MUCH longer than they were 50 years ago. Coin stores are rapidly being replaced with pawn stores. Collectors, and their heirs, used to be relegated to selling their coins at pennies on the dollar as they only had friends and coin stores to sell to. Today, they can get nearly full value by selling on ebay. It is now effortless to be able to find/obtain ANY coin in any grade.....20 years ago, it could take months/years to locate that specific coin. The coin hobby/market will continue to grow for these reasons. JMO |
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Moderator
United States
16679 Posts |
Classics are basically all I collect (and ultra Classics..Colonials).
YN's start out with moderns but will end up here eventually (or just quit all together..lose interest).
Seen this for the 30 years I've collected. That's why it's important to keep the fire burning ;-)
swcoin.ecrater.com
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Pillar of the Community
United States
3546 Posts |
Quote:
As they(mid fifties) die off in 25 to 35 years, the following generation will be a little smaller. This would seem to imply that the average size of future collectors' collections would have to grow: the same or continually-increasing number of existing collectable coins being spread around amongst fewer collectors. Following traditional auction guidelines, for example in my explanation, past documented supply and demand behaviors dictate that when fewer people are bidding on the same or greater amount of coins a lower sales price is very often realized. Case in point: I cannot tell you how many auctions I have attended in which I've stuck it out to the very last sale of the action. In these particular events where 20 bidders initially existed but eventually dwindled down to 2 or 3 near the auction's end, the final sales price 'generally' realized included a significant discount compared to what the same coin could have sold for had a greater number of bidders been present. |
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Pillar of the Community
United States
3546 Posts |
Potential conclusions to take away from this above FACT in the previous post:
1) Assuming one agrees with the last paragraph of the previous post the overall market 20 years from now could conceivably drive down the resale pricing on the same or more quantity of collectable coins as a result of the attrition-based diminishing coin collector population:
a. baby boomer population 1946 to 1964: 76 million
b. generation X 1965 to 1980: 41 million
2) Coin hoarders will always exist, however, no matter what the size of their population is but the % of them categorized as hoarders should stay relatively the same irrespective of what the actual number of collectors is.
Even though these types of very scarce classic coins would typically increase in value over time, even the hoarders will eventually sell their prized stock as they meet the advanced age realm.
So it would be an incorrect deduction to state that more of the highly collectible coins will be off the market and unable to find causing an elevation in prices; the contingent % argument previous alluded to stays in effect no matter what the collector population is.
3) Not to hijack the thread but this final conclusion should be a means to the betterment of one's personal coin collection w/r/t ROI:
Strive to always remain until the very last auction item is placed on the block since many of the better deals are realized at the end emanating from notably fewer numbers of bidders attending.
Keep the best and leave the rest,
IMHO,
mdpmedia
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Replies: 23 / Views: 4,117 |
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Posted 10/14/2014 01:52 am
