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 Replies: 23 / Views: 4,113 |
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Pillar of the Community
United States
606 Posts |
Do any of you think classic coins will lose moxey over time? I have been going to our local coin shop and it is mainly older people (over 60) spending any time there. Any younger people tend just to want silver rounds or junk silver. I actually like the older US coins, and have enjoyed reading this board, even if it is getting yelled at for cleaning a $4 FE (an idea that I actually appreciate getting chewed on about. I actually agree with the thread, and appreciate the honesty. Regardless, while making money over time isn't a main priority (I call that a job, rentals, and stock), I do wonder if the market will drop off big time as older coin collectors die off. I didn't buy a AU 55 Fugio last week, because I wonder who I will sell it to in 20 years. Perhaps this has been answered, but is the hobby becoming a dying breed? I can't even get my 2 girls to look at the coins. They think it is a big waste of my time, and money. Thanks in advance. |
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Rest in Peace
United States
7075 Posts |
Yes, this has been asked before.
I think one of the biggest changes for coin collectors is the internet. Whenever I got to my local coin shop, the owner has to stop whatever he's doing on his computer and come wait on me. This has got to be irksome for him when I go in to buy a $13 nickel or something. And while I'm studying the details and differences in the selections on the counter, one person comes in and unloads an entire collection and another comes in and buys a sizeable stack of silver.
I don't think the shop owners have the time to chat with the newbies and I never see kids in the store. I think they're auction hunting and watching the price of precious metals.
I don't know how old your girls are but they may be drawn into the hobby if it becomes less about coins and more about something else. My husband and I found that going to coin shows was becoming a lot like work -- hunting for a deal and the coins on our shopping list. So for fun we collect critter coins. Anything with an animal will do. We search the junk bins, etc. and never spend a whole lot, but that part of the day is just fun.
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Pillar of the Community
United States
4416 Posts |
Coin collecting is the oldest hobby there is, dating back over 2,000 years. Lose "moxie?" .... N E V E R !
Back in the 1970's, I attended a coin club that to this day continues to flourish, and I'm still a member. Every year, for over forty years now, the membership has struggled with and debated over a seemingly never-ending question .... "How do we get the younger folks interested in coins?" We sponsored "Junior Nights", invited the Scouts, had members drag their grandkids to a special meeting, held family events and all manner of methods to get youth involved in coin collecting.
While but few young folks attend on occasion, the club remains strong. Why? It's a great hobby, and coins are akin to toys for us older folks. Kids grow up, get old and often rediscover that fleeting adventure they had with coins when they were kids. I drifted away from coin collecting for about twenty years but then jumped in and have been swimming in deep water for well over thirty years now.
Soooo, MontanaCMR, you might reconsider buying that FE Cent, or someday, you may well regret not having done so.
Edited by ExoGuy
10/13/2014 8:38 pm
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Moderator
 United States
23522 Posts |
We have an ongoing poll regarding membership age demographics, and the sample amounts to years now. CCF's membership is consistently about twenty percent under 25 years old and a third of us are under thirty. I'm not worried about the future.  |
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Pillar of the Community
United States
4416 Posts |
If anything, the internet, auctions, coin growing numbers of coin websites, etc. should attract more young people to the hobby, methinks.
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Bedrock of the Community
United States
20753 Posts |
I disagree. I think this hobby is ending so wrap up all your coins and send them to me. I'll take those lousy things if you send to me at no cost.  Yes it is the end of thousands of years of this hobby. And I'll gladly help you get out before it's to late.  I feel one of the main reasons for not so many younger people involved in coin collecting is the internet. They may be interested but if you watch places like ebay, you'll see those younger individuals would rather use the computer to buy coins than to go to a coin store or coin show. And that is to bad since at a coin show coins are so much cheaper. |
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Valued Member
United States
234 Posts |
As dumb as this sounds, from my experience, alot of younger people my age want to collect...they just don't know how. There's no coin shop near me for 50-60 miles. I doubt anyone would think to look for dealers online if you didn't know they were on there to begin with. Plus there's alot of closet collectors. I don't see the hobby dying. I see it growing like a wildfire in July.
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Pillar of the Community
United States
2815 Posts |
Coin collecting isn't going anywhere, and it will NEVER die off completely. Not a chance.
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Pillar of the Community
United States
1903 Posts |
Any form of collecting "objects" whether it be a coin, comic book or coprolites all go through cycles of ebbs and flows. What usually drives these trends is the "cost of entry" and perceived value. Any sector of collecting usually sees a flurry of interest when prices hit rock bottom and start to swing back up. People hop in for the ride because of the lower "cost of entry" and the higher perceived value in the future. Some percentage of these people transition into the love of collecting that item for collecting's sake but the vast majority hop out when the market gets so high that the cost of entry is beyond there ability to get their "fix" on a regular basis. Interest then wanes and people migrate to collecting other things. What makes coin collecting a bit different than most how ever is that the objects also have some intrinsic value. Unlike Beany Babies and Baseball Cards which, if there is no interest, go to a zero value. Coins always have their metal content as a basement value. This is why this type of collecting has never completely gone away at a point.
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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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Replies: 23 / Views: 4,113 |
Posted 10/13/2014 8:37 pm
