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 Replies: 16 / Views: 2,119 |
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Valued Member
United States
63 Posts |
I'm 36 and I started collecting coins in 1999 because of the State Quarter program. I must admit, it seems to me that we must be in the "golden age of coin collecting". Although I've only been collecting for about 10 years, it seems that coin collecting is at an all time high. Prices of precious metals have never been higher and the US mint has never offered a more diverse portfolio of coins. (Which seems is only going to increase with the upcoming changes to the penny, quarter and dollars). It would seem to me that if this is the Golden Age, that the period between 1983 to 1998 might have been the lamest time for coin collecting. There seemed to be nearly no diversity in coins. I wasn't in the hobby then so I'm not positive. But when I see what's going on today, it seems really exciting. I just wonder if the mint offers to much of a variety, if at some point and time it will have the opposite effect and erode the interest in coins, due to a loss in uniqueness and thereby a loss in interest. A new and different coin won't be special anymore because new and different coins are coming out all the time. Any thoughts? The very thing that is renewing the interest in coin collecting, if done to the extreme, my be its downfall. |
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Pillar of the Community
United States
6326 Posts |
Interesting perspective.......... I would say though ........only time will tell. But you make a very thought provoking point that i'll have to ponder ! I'll take interesting and diverse over sameness and lameness every time....I know that ! If it kills it........well......it was a fun ride !
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Pillar of the Community
United States
1130 Posts |
I agree with you, even though I don't collect anything modern besides a bullion coin or two. I have 2 sisters that I just got into collecting mint and proof sets last week.
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Pillar of the Community
United States
6326 Posts |
Also...... A LOT of coin collectors absolutely "shun" moderns......they couldn't care less what new coins come out.....they're not buying them anyway. They'll buy 1600's, 1700's, 1800's and that's it. Moderns just don't "do it" for them and they're not excited by them at all. So whatever happens would have little effect on them.
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Pillar of the Community
United States
974 Posts |
Diversity hasn't hurt the Perth Mint as far as I know. They keep putting out a vast variety of coins for almost any interest. You may not like the "Shark" series but may love the "Exotic Automobile" series. Maybe the US Mint should do like the Postal service did with the "Vote for Elvis you want on the new Stamp" and let collectors vote on what would meet their interests rather than saying here's what you get. I think the Presidential dollars should have been something like a Commemorative Roll with all the Presidents in one roll rather than 4 per year since no one is apparently using them anyway, at least they would be collectible! What parent wouldn't put back a roll or two for their kids? |
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Pillar of the Community
United States
5318 Posts |
I generally agree, but I think this may be more of a "gilded age" for coins. For the past few decades, there's been a series of collector crazes for everything from beanie babies, "collector/investment art", to coins. But, because so many things deemed "collectable" have been marketed as investments, we're seeing a lot of trumped up values, and an ensuing rush for people (ie retirees) to park money there. Too much emphasis is being placed on collecting for the sake of making money. Just look at that scam called "Coin Vault" on cable TV. People might get disappointed by these "investments" but ultimately the collector who enjoys coins will win out. Have fun!  Edited by KurtS
01/23/2008 4:49 pm
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Valued Member
United States
204 Posts |
Funny, I have the opposite view of the period of 1983-1998. I began collecting (ASE's) in the early 90's while silver was heading down and there was not much interest in coins and dealers thought ASE's were just another form of bullion (I personally look at them as the 20th century version of the Morgan dollar - which also weren't really made for circulation in a sense). Now dealers are slowly waking up to ASE's as a collectable coin and prices are going higher for just about everything. Mind you I think that the current stock market downturn is a great time to buy, but then I prefer to buy things cheaper. I hope the coin market and metals market tanks soon too...  By the way, welcome to the forum!  |
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Valued Member
 United States
63 Posts |
eadlefoot, I agree they couldn't care less. But I think that moderns have directly helped those collectors out bigtime. To use a sports analagy: Tiger Woods has done more to save golf than any golfer in recent history, LeBron has done much to revive the NBA. Whether one likes or dislike Tiger or LeBron they've done so much to rejuvinate there sports. And whether non-modern collectors like it or not, I think modern coins have brought so many new collecters to the table that the values of non-modern's collections and opportunities within the hobbies of directly benefitted. Not being argumentative, but I just get the feeling sometimes that some collectors (not you) look down on moderns and those that collect them.
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Pillar of the Community
Germany
1062 Posts |
I think in some respects you are right, the modern coins get people into collecting and then when they can afford older coins they turn to older coins.
In the UK we have a problem that we had a change to decimalised coins in 1971 and since then the 1 and 2 pence coins are almost the same, with a change in wording and a different portrait, but there were many years where these coins had an interesting period but the coins were not to be found in change.
But, this year we are seeing a change in the coins from 1p to probably 1 pound or 50p, and this might, just might make people curious, though we have had 50p and 2 pound coins circulating with different patterns every year and no one seems to notice.
However, golden age means things cost more.
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Valued Member
United States
473 Posts |
hmmmm....I think that the mint might already be taking it too far. Like many many collectors, the State Quarters are what turned me into a genuine collector--I went from setting aside Wheaties and the one Buffalo I had (just because I like old things) to having a relatively broad collection of many different types and sets. I also saved all the Lewis and Clark nickels, though I have grown to dislike them in the past year or so. After the novelty wore off, I just got sick of them. I also have no real interest in the President coins (Sacs I do like though.) Now, I'm not sure exactly how I'll like the new pennies but my gut feeling is I won't like them and will just collect them for the sake of having a complete Lincoln collection. I can tell you this though--I would be much happier if the Mint cancelled the 4 new reverses and just came out with 1 new reverse to replace the memorial for the next 50 years. Nothing against the memorial (I find it to be the most beautiful or all the current reverses) but I think 50 years is a good run for any coin and its time for a change, just not another one-year series to collect. And, regarding the general-non-collecting population, bearly any have taken a liking (or notice for that matter) to the new nickels, Pres coins or, I doubt, the new pennies. I see it working at a cash register. People still look at the quarters, but no one even glances at a Nickel or gives a dollar coin a second thought--right in the pocket they go. Bottom line, don't give the coins a 70+ year life span, but enough with the one year sets already, --gary Edited by GFR3
01/23/2008 6:56 pm
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Pillar of the Community
United States
2443 Posts |
quote:
Maybe the US Mint should do like the Postal service did with the "Vote for Elvis you want on the new Stamp" and let collectors vote on what would meet their interests rather than saying here's what you get.
 Great idea! |
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Rest in Peace
United States
3730 Posts |
Dorion, I was about 18 when I first really started getting "into" coin collecting. At that time there was NOTHING regarding U.S. coins except for the circulating coinage. So, even though I think our mint (the Government) views the consumer as its "cash cow," I can say this era is so much better that the late 50's and early 60's regarding a variety of coins.  Edited by Gary Burke
01/24/2008 12:38 am
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Valued Member
United States
374 Posts |
Personally I dont like the moderns. I will buy some rolls of eagles but only for bullion purposes. Same for gold or platinum moderns. I realize dealers make money of selling moderns. There are certain sets or issues that will be in demand and go up in value. Any moderns I have were part of a collection purchase. Ilike bust and Seated coins and of course IHP. |
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Bedrock of the Community
United States
20753 Posts |
There will always be coin collectors. However, there are also still stamp collectors, Beanie Baby collectors, etc. The government distroyed the stamp collecting hobby with excessive varieties. The Beanie Baby stuff ended for the same reason. Remember the Baseball/Football cards. That too ended with excessive production of those. Practically any collectable that ended was due to excessive amounts being produced. The Mint is now in the process of doing this with our coinage. The Bicentennials were the first, then the State Quarters, president dollars and their wives, tons of commemoratives. Becoming now to many for the average person. They will distroy this hobby soon enough. |
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Pillar of the Community
United States
974 Posts |
 Exactly Carl. I am a victim of all those "collectibles" you described. That's why I primarly do old Type coins, they aren't going to come out with "new tier levels" (UNC, Clad Proof, Reverse Proof, Silver Proof, Satin...) of them ever!  |
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Bedrock of the Community
United States
12437 Posts |
quote:
I would be much happier if the Mint cancelled the 4 new reverses and just came out with 1 new reverse to replace the memorial for the next 50 years.
The US Mint has no say in the matter- they can only produce coins that are dictated to them through Congressional legislation. |
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Replies: 16 / Views: 2,119 |
Posted 01/23/2008 4:08 pm
