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So How Many Of US Are Out There?

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 Posted 07/04/2023  06:57 am  Show Profile   Bookmark this reply Add John1 to your friends list
I agree with Sel. That puts me in the lifetime category not the avid category.
John1
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 Posted 07/04/2023  07:31 am  Show Profile   Bookmark this reply Add tdziemia to your friends list
As pointed out by both @sel and @kbbpll, frequency is not necessarily a good indicator. I would call a collector who drops, say $5,000 three times a year an avid collector, even though that doesn't meet the current criterion.

I consider myself to be an avid collector for the last 5 years. This year I've averaged 2 coins/month (down from my rate in 2018-2022), but I don;t buy every month; I've bought coins in 9 of the last 12 months.

So I am not an avid collector according to the criterion, but I still consider myself avid.

As for percentages and trends, that's beyond my pay grade, but I suspect somebody has real data (for instance, the auction houses, who must know if their customer lists are increasing or decreasing, ditto for ebay, who would know how many unique IDs are buying coins each year).

Edited by tdziemia
07/04/2023 07:34 am
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 Posted 07/04/2023  07:58 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list
I consider myself an avid collector; however, my means of acquisition is pulling coins from roll hunting. Actual purchases have fallen a little the last few years (even before Covid.). Purchasing hasn't been a primary avenue for me going on two decades.

Would be interesting to view the geographic distribution of US 'collectors'. I suspect they're not all bunched up in a county in eastern South Dakota.
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 Posted 07/04/2023  08:52 am  Show Profile   Bookmark this reply Add tdziemia to your friends list

Quote:
Would be interesting to view the geographic distribution of US 'collectors'. I suspect they're not all bunched up in a county in eastern South Dakota.


Sounds like a good opportunity for a poll.
Though probably the moderators could do a sort on members who have provided a place in their profile and tell us?

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 Posted 07/04/2023  08:59 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list
Your definition wouldn't count me either. I recently acquired a large U.S. note but that took 2 months of saving. Even my last large purchase (the slabbed 1909 S VDB took about 6 months to save/plan out).

Buying a lot of coins doesn't make 1 an avid coin collector. I have (I would say a pretty serious collection) but there are times I buy stuff every few months (mostly due to cost).
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 Posted 07/04/2023  09:08 am  Show Profile   Bookmark this reply Add ijn1944 to your friends list

Quote:
Sounds like a good opportunity for a poll.
Though probably the moderators could do a sort on members who have provided a place in their profile and tell us?


The brave few who run this forum have access to georeferenced ISP addresses. That would map nicely--as long as member identities were not displayed.
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 Posted 07/04/2023  09:32 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list
Lots of people use VPNs that mask there location.
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 Posted 07/04/2023  7:43 pm  Show Profile   Bookmark this reply Add Sap to your friends list
Estimates of the percentage of the population that are coin collectors varies wildly. These guys claim that their surveying shows 38% of the adult US population "has some experience" with coin collecting - either they currently collect coins, or they used to. A large proportion of that 38% are probably people who collected as kids, but stopped in their teens.

I've seen statistics reporting that between 1% and 5% of the US population would be "serious" coin collectors, by a reasonable definition of "serious" (investing a considerable amount of their free time and/or disposable income). I'd probably guess another 10% are "casual" collectors, who have enough of an interest to know some basic coin facts and actively keep anything odd or unusual that comes their way.

What I do know is, this is not a global trend. The percentage of the population that collect coins is far higher in the US than in most other countries. Canada, Germany and Japan probably come closest. But here in Australia, for example, the percentage of "serious collectors" would be way under 1%.

The nebulosity of the data largely revolves around the assumption of accurate self-reporting (suppose you get a random cold-call survey, asking "Are you a coin collector". Are you going to trust them and answer truthfully?) and the vagueness around the terminology, as can be seen by the debate above regarding the OP's definition of "avid". WHat exactly is a coin collector, and why would any definition we would write be better than anybody else's definition? Lots of people "have a bunch of coins sitting around the place", but we probably wouldn't call them "collectors" - even if they think of themselves as such. Lots of people hunt through change looking for rarities; are they all "collectors", or just bandwagon-jumpers looking to make a quick buck?
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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 Posted 07/04/2023  8:08 pm  Show Profile   Bookmark this reply Add Pmint1 to your friends list
Thanks for the interesting feedback. My definition of an avid collector is lacking. It's hard to define an "avid" collector. What I was trying to ask is more in line with "how many people regularly study and/or seek out coins to add to or improve their collections.
A second part to my question is I would be interested in hearing what percent of the population collects and is the hobby growing or declining.
I've been active for about 10 years and I've seen my beloved Morgan dollars continue to increase in value tremendously. I'm wondering if this trend will continue or level off in the years to come. Either way I'll continue to collect them.
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 Posted 07/04/2023  8:08 pm  Show Profile   Bookmark this reply Add kennedy759 to your friends list
I just got back into collecting after a 50 year break, and have been adding a dozen coins and bullion a month.
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 Posted 07/04/2023  8:27 pm  Show Profile   Bookmark this reply Add bobby131313 to your friends list
My wife and grandchildren are constantly telling me I'm "out there."
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 Posted 07/04/2023  9:00 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list
Collector and stacker aren't necessarily interchangeable. For example my local dealer the majority of customers are stackers, they buy coins but not for numismatic value but for the precious metal value. Over 50% of the customers are bullion purchases. There are a few paper money guys and a large amount of coin collectors. The collectors are many buy purchases aren't as regular as bullion. The dealer recently got a high grade $500 US Note, the buyer paid substantial but that his only purchase so far this year. I go about every month to pick up some bullion coins to add to my stash collection, most are graded and I get different countries so I even my stash is numismatic. That coin shop is one of 5 within a 30 minute drive and all do a brisk business. So we have a pretty large collector base. As to what is collected that changes every year. Peace and Morgan's have been hot last 2 years, prior to that it was Mercury dimes and Lincoln cents. High grade paper has been hot lately. But what he mostly gets in for purchase are pre 1964 silver coins and US Mint products. The good stuff (high grade pre 1950 coins) sell quickly. Once I asked how many people collect and his answer is many, but when you ask for serious collectors he gets 2-4 serious a year. So serious collectors are a little rarer then average collectors. Just making assumptions.

50% of all household have a coin collection.
35-40% collect from circulation
5-10% are stackers
1% are serious collectors

Still over 3 million US collectors.

Looking at ASE as an example there are over 30,000 serious collectors (looking at the price of the 2019 s-erp and 1995 W but you don't see the same price gains for the V75). And ASE are the most collected coins. In the NGC registry there are over 30000 registry owners so heavy duty collectors maybe 10% of the 3 million (~300,000). And many of the 300,000 have deep pockets.

So my guess are:
300,000 hard core/$$$$$ collectors
3,000,000 collectors with fairly extensive collections
10,000,000 stackers
150,000,000 that have a coin collection (maybe State Quarters, some Ike's and a red seal note and silver certificate)
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 Posted 07/04/2023  11:09 pm  Show Profile   Bookmark this reply Add kbbpll to your friends list
The above numbers seem reasonable. Again it's a matter of definitions. Those 3 million "collectors" I'm not sure about. For example 4 of my siblings and cousins _have_ coin collections, but I would not consider them to be "collectors." Certainly there is a large number of people like them who inherited coins, kept them, but haven't given it a second thought for decades. I think perhaps with any surveys that are done, they ask "do you have a coin collection" and then automatically class those responses as collectors, because bigger numbers look better.

Then there's a crossover group that just has a lot of money and throw it at coins (among all sorts of other things). They probably might define themselves as "avid coin collector" and yet know very little about it. They just do it because their friends do it. Perhaps I would call them "investors" more than numismatists.
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 Posted 07/05/2023  10:18 am  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
I define avid collector as someone who acquires a coin at least once a month.
Like others, this rules me out.

I have some "big holes" left to fill, so those will take time. Otherwise, I am at the mercy of the US Mint release schedule.

As for the question... If my own circle of friends and family are a diverse snapshot of North American society (and they seem to be, given the, uh, "robust" conversations at gatherings), then I would say the ~1% estimate is accurate. Anything approaching 5% seems unlikely.

Of course, that is not a scientific poll and your mileage may vary.
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 Posted 07/14/2023  12:00 am  Show Profile   Bookmark this reply Add TinyRetreat to your friends list
I'm an avid hoarder :) I simply wait and watch ... then pounce
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