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Thoughts Of Future Of Numismatics.

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Valued Member

Australia
55 Posts
 Posted 06/04/2020  10:16 pm Show Profile   Bookmark this topic Add David Graham to your friends list Get a Link to this Message
Hi all,

Have read a few comments along the lines that numistatics will become extinct in the future once physical cash no longer exists. I believe it will actually gain popularity. Have read of collectors becoming disinterested in the hobby because of the sheer variety of coins the mints are now pushing out to make a buck. Besides bullion, once coin production ceases surely that will mean there is now a limited supply of coins with no more to come. Ideal collector conditions. As a metal detectorist I sometimes joke that the 1 and 2 cents pieces we frown upon might one day bring much joy to those that find them. Would love to know who's in which camp - extinction or survival.

*** Moved by Staff to a more appropriate forum. ***
Pillar of the Community
Australia
665 Posts
 Posted 06/04/2020  10:25 pm  Show Profile   Check ryurazu's eBay Listings Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
Coin dealer job might be very hard, as the cost to traditional dealers have become almost obsolete. The large bullion dealers well that will depend on investors and whether people still want jewellery in the future and can place or assign a value on it. That's why I don't think coin collecting will go away in the future even with digital currency, it might not be the same as it was (i can't say whether it will go up or down), but such is life.

I mean did rock collecting go away? stone age people use to collect shiny things and store them around there necks or buried them.

the only thing that I can think of that has died or become non-existence in terms of collecting is SKULL COLLECTING
Edited by ryurazu
06/04/2020 10:32 pm
Valued Member
Australia
55 Posts
 Posted 06/04/2020  10:53 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply
Yes, but they're still digging up shiny rocks. As the world population increases there will probably be more coin collectors seeking a now dwindling stock so even average coins might become more desirable, especially as old bulk coins get melted and turned into other goods.
Oddly, a I also collect DVDs and BluRays. Have been to several video store closing down sales and enquired about their high end disc polishers. Always already taken. Basically every video store had those suckers and yet you can't buy them for love nor money. I'm thinking there must be at least several thousand serious DVD collectors (serious enough to fork out $55-$1000)in Australia yet I don't know about any of them. How many coin collectors are there hiding in the dark?
Pillar of the Community
Canada
2394 Posts
 Posted 06/04/2020  10:59 pm  Show Profile   Check Wade's eBay Listings Bookmark this reply Add Wade to your friends list Get a Link to this Reply
For us "regular folks" there are a few things that greatly affect the hobby:

#1 disposable income
(in short supply for the average person for the foreseeable future)

#2 dispersal of collections,
as older collectors liquidate their collections then supply could easily outweigh demand

#3 demand,
non interest by the up & coming generation, many of whom do not carry cash in any form. many have no "connection" to actual cash/coins, and let's face it... the world is disposable... why would you keep, let alone pay for, a little metal disc ?

in short, I see the hobby die-ing a slow death, somewhat accelerated with the world health issues at hand, and especially because every government on the planet is "printing" money.

the only good news is that the best material will always be sought after by those with money... however the average everyday stuff will likely fall to same fate as stamp collecting... and that wasn't pretty.
Pillar of the Community
United States
1976 Posts
 Posted 06/04/2020  11:12 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I have a few hobbies. I like to do photography. On the photography forums the hobby is dieing. But I have a nice camera and I enjoy taking pictures.




I also do astronomy and that hobby is also dead. But I like looking at celestial objects and I like doing astrophotography.



I also like my telescopes.




And I collect coins and currency and you all are telling me that is a dead hobby also. Dang 3 for 3. But I still like coins.



and notes.





I say don't worry about others, do what you enjoy.




Edited by hfjacinto
06/04/2020 11:13 pm
Pillar of the Community
Australia
665 Posts
 Posted 06/05/2020  02:11 am  Show Profile   Check ryurazu's eBay Listings Bookmark this reply Add ryurazu to your friends list Get a Link to this Reply
there are load of casual coin collectors that why commemorative coins get taken out of circulation even with millions minted just look at the Kennedy half dollars even the clad ones don't circulate, for Australia look at the 2014 MOB or five dollar coin (face value and no one want to use them)
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Learn More...
United States
8839 Posts
 Posted 06/05/2020  09:58 am  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
What about medals and other Exonumia? They aren't cash but a major part of numismatics.
98% or more of my purchases over the past few years I traded digital units of value for them without cash involved.
I would be just as concerned about a society without history.
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Pillar of the Community
Canada
852 Posts
 Posted 06/05/2020  11:16 am  Show Profile   Bookmark this reply Add GMS5 to your friends list Get a Link to this Reply
@hfjacinto,.... beautiful camera gear, excellent shots.
Pillar of the Community
United States
1976 Posts
 Posted 06/05/2020  11:20 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
@hfjacinto,.... beautiful camera gear, excellent shots.


Thank you
Pillar of the Community
Canada
933 Posts
 Posted 06/05/2020  3:25 pm  Show Profile   Check walk2dwater's eBay Listings Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
@hfjacinto,.... beautiful camera gear, excellent shots.


& I think "hfjacinto" illustrates the point that people will always pick up hobbies that they enjoy & this should take different forms for a long while yet (that's just human nature).


Quote:
Have read a few comments along the lines that numistatics will become extinct in the future once physical cash no longer exists.

I don't know about that. For one thing, the idea that physical cash won't exist is propagated by the Better than Cash Alliance (BTCA. Visa, Paypal, big banks & several billionaires (including Bill Gates & FB founder) support BTCA's "blackballing" cash. They're constantly feeding ideological crap on media hoping apps will replace cash used & we'll all switch to digital currency. Why? So they can make more money lending $ AND further track commerce to keep peddling our digital footprints. Authoritarian police-states such as China also prefer to keep tabs on what its citizens are doing (their digital footprints) so they're good with less cash (& omnipresent cameras operated by big-brother A-I servers).

The BTCA have set up several Lobby/media agencies which champion the demise of cash. They're currently advertising how dirty cash use is during this global pandemic (blaming rarely used currency for spreading COVID19). It's shameful. Yes, young people eat this up & affiliate cash use with "old people" & old unclean ways which need to change. Many people have (& haven't) made the connection between the use of digital currency & loss of privacy. Most of us still prefer our REWARD "points" from our Credit cards & the convenience of swiping/paying online but I don't think cash will ever die in a regular democracy which honours the freewill of its citizens. It certainly pays to have cash during emergencies (when power is out)! Most central banks realize that cash is fundamental as a back-up to digital currency during a crisis & an asset to have to keep economies healthy.

So yes the hobby will definitely take its hits & have its 'ups & downs,' hot & cold cycles but I don't suspect it will die (outright) any time soon. Collector Forums (like CCF) seem to be slow these days but that could simply be people's shift & preference for going mobile with everything these days. Collectors don't flock to shows like they used to since online auctions have become so mainstay. So I think its easy to confuse this shift on how people collect/acquire/catalogue & interpret the less social aspect as a bad omen for the hobby (when it's simply a major paradigm shift in the way we collect more evident online than at shows).

The one thing that is different between coins/paper money (compared to vinyl records, DVD's, comics & other art mediums) is that both (coins/currency) are artistic but also a conventional means to exchange wealth. In that way, they're a little more universal than the other tech hobbies which can be a bit more trendy or 'faddish.'
Pillar of the Community
United States
1976 Posts
 Posted 06/05/2020  3:59 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
compared to vinyl records


VINYL RECORDS ARE DEAD ALSO!!

Man, I must be a dinosaur

Pillar of the Community
Canada
933 Posts
 Posted 06/05/2020  5:53 pm  Show Profile   Check walk2dwater's eBay Listings Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
VINYL RECORDS ARE DEAD ALSO!!


- I would never say/write that! (just trying to put some perspective on various hobbies is all). If anything- they're having a healthy resurgence in popularity.
Valued Member
United States
361 Posts
 Posted 06/05/2020  6:25 pm  Show Profile   Bookmark this reply Add Wideglide to your friends list Get a Link to this Reply

Quote:
VINYL RECORDS ARE DEAD ALSO!!


Not so! They are actually currently experiencing renewed interest, and new albums are actually being released on vinyl again - although at higher prices that what used to be. People are realizing that music and sound is analog, and that in converting music from analog to digital and back to analog again, you're going to lose something. One of my other hobbies is being an audiophile!
Valued Member
United Kingdom
360 Posts
 Posted 06/07/2020  2:28 pm  Show Profile   Bookmark this reply Add TobyJ to your friends list Get a Link to this Reply
Here's my thoughts: We are currently going through a digital payment revolution, cryptocurrencies like XRP are helping facilitate the international payment systems of world banks and bring it into the modern era. Instant settlement. We have been in the internet age for so long, but banking and transactions etc have not caught up. So this digital payment revolution will last another 5-10 years if you ask me. After 10 years, possibly 15 at maximum, the entire world will be cashless. No coins will be minted except commemoratives. The hobby of collecting coins will only grow in the future. I am currently buying as many Morgan dollars as I can, as I have a strong gut feeling that they are going to be one of the most collectable coins in the next decades to come. Numismatic interest in general is going to surge in the next few decades as coins get scarcer and scarcer and the world goes entirely digital...and as much as I love coins, the world going fully digital for payments is an overdue thing in my opinion, as controversial as that sounds. However, I feel that a digital society makes the hobby of collecting coins much better!
Valued Member
Australia
55 Posts
 Posted 06/07/2020  3:58 pm  Show Profile   Bookmark this reply Add David Graham to your friends list Get a Link to this Reply
hfjacinto - darn nice lenses and pics taken with them. I have a Canon 450 with a few lenses and have dabled but would love to spend some more time when I retire. Photography and astrophotography I wouldn't say are dead, just more refined. Digital photography and photo-editing software have been a game changer. The days of selecting the correct film and adjusting the camera settings to get a rudimentary pic are gone with modern point and shoot cameras. Plus a lot of effects can now be achieved with digital manipulation of the image rather than camera settings. I suspect this is why most casual photographers have left the forums. Having said all the above, there are some things you cannot do with a point and shoot camera as your photos show.
With astrophotography I suspect some of the enthusiasm wained with the great photos from the voyager missions and later equipment like Hubble. Most people thought the images they were taking were no longer adding to the knowledge of astronomy.
Valued Member
United States
89 Posts
 Posted 06/07/2020  4:19 pm  Show Profile   Bookmark this reply Add TimNH to your friends list Get a Link to this Reply
Agree with TobyJ, the more cash dwindles, the more collectible coins will become, especially the old historic stuff.

I think the existential threat is FAKES. The better they get, and the more numerous they get, the more this hobby is in peril, and I don't see any way to stop it.
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