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 Replies: 35 / Views: 7,238 |
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Pillar of the Community
United States
946 Posts |
I think the future of coin collecting will be bright. Considering right now the best investments are #1. Classic cars, I love cars but do not have that kind of coin. Guess what #2 on this list is? COINS! Everyone stay at it. Time will make our collections grow and become better.
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Pillar of the Community
Canada
1049 Posts |
I agree with CV's thoughts in his post on page one. I never get concerned about what the market is doing as I don't treat my coins as a for profit daily business. If I have extras I will let them go as well as coins I don't collect that I bought in a group lot. I have a couple of large cents that will be PCGS graded soon. The reason for this is they will come back mid MS so for protection of the coins I thought this the best route. A third of my collection is metal detecting finds. My whole coin collection has been paid for by metal detecting finds for eg; gold and silver rings found and sold for scrap as I don't collect jewelry. No direct out of pocket expense from my income.
My daughter has recently shown a bit of interest in coins and she knows when I'm gone this collection will be hers, in light of that I'm taking the time to pass the knowledge via info on the 2x2 per coin. My grandfather collected coins since he was a kid, his collection extensive going back to 1858 in all denominations, he never sold only collected. When he died the collection was put into the hands of one of the kids, she took it all to a dealer in the orangeville area and got face and scrap not knowing any better. That's the only concern about coin collecting that I have is when ignorance of the hobby is taken advantage of vs a fair market price offered.
The hobby will always have it's ups and downs in value yet, I can honestly say that in the future once we are no longer a cash based society the demand will only increase as well as the value due to lack of sources to pick and choose from. IMO.
Edited by M_d_in_guy
06/07/2015 10:10 am
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Valued Member
Canada
413 Posts |
I'm a new collector in my late 50s, have been collecting for 2 years now. I spent my life as a paycheck to paycheck kind of guy and many of those went to the local tavern. I have a lot of free time at work and spend my nights scouring ebay and online coin shops looking for deals on coin and banknotes. Banking and saving money is not in my vocabulary, never has been. With coin collecting I feel that I have something to show for the money I've spent. I've become quite obsessed with it, now I really need to sit down and start cataloging. |
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Pillar of the Community
United Kingdom
2887 Posts |
I think that when we become a cashless society, coin collecting will diminish. Because the items will no longer be familiar to people there just won't be the same amount of interest in obtaining old ones - which they will all be. There will still be coin collectors of course - but not to the same extent.
It's a very long time off though.
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Pillar of the Community
Canada
1923 Posts |
 I collect coins as a hobby and have been ever since I was 8 years old, but I also grab coins to upgrade what I have then flip out the ones I upgraded and hopefully at a profit same as classic cars. But I probably do better with coins than cars I seem to take a beating big time with car's when I sell them  |
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Pillar of the Community
Canada
2845 Posts |
I don't think the hobby will die any time soon, for a few reasons. Although Canadian coin is unique to Canada, coin collecting certainly is not. Our hobbies tend to mirror that of other counties, particularly the U.S. which also manufactures much of our supplies. Do Americans see an end to the hobby in their country, I think not. Because the use of currency still exists especially by young children, even if it were to cease tomorrow, there's still memories until that youngest generation grows old. Perhaps future changes to our coins might also inspire folks? Did I hear the reverse of coinage is to be redesigned in the near future? I think whenever there are major changes, people tend to save the previous version, thinking it might be worth something someday. Who knows, but that's actually the beginning stages of a coin collector. Likewise if the queen passed the throne over, QE11 coins would also become unique. Some collectors become interested by beginning and end points. Complete a collection of one type, it's only natural to begin the next. Aside from the need to be wary of ebay and online auctions, I believe the number of collectors has and will continue to increase due to the convenience of online purchase. It certainly was responsible for the increased size of my personal collection (or coin hoard, is what I've began to refer to it as!). Joking aside though, for me it's more enjoyable to search, conduct research on my own, buy or bid and wait for the package to arrive in the mailbox than to seek out coin stores (which in my area mainly thrive by advertising on their front window "We buy bullion, gold, silver, jewellery!) |
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Valued Member
Canada
228 Posts |
I consider myself to be a collector. I make numismatic purchases to fill voids in my collection, and enjoy the challenge of finding just the right coin make that happen. I collect coins, not slabs. That said, when making online purchases, I do prefer to buy TPG coins, but strictly for the coin, not for the holder. Although I don't make a habit of it, I've been known to cut the odd coin out of a TPG holder only gain the ability to store the coin the way I want to. I find that very few people actually understand the concept of collecting coins just for the sake of building a collection. Many people understand the profit/investment aspect of it, but can't seem to make the connection that if there weren't people actively collecting coins, the profit aspect wouldn't exist. |
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Pillar of the Community
Canada
1051 Posts |
Almost all my stuff is in slabs. With ICCS in particular being so cheap, there's really no reason not to have your stuff graded (and authenticated) if it's worth a bit.
If the coin market craters, I'll keep buying right until they are worth nothing. It's not about money for me, it's about history and how that history ties into the country/world. As a result, I don't really care what the market does. If anything, I hope it dips a bit more so I can grab some more key date stuff at a decent discount from Trends.
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Valued Member
United States
211 Posts |
I'm not sure what you mean by saying a true collector type is looking for a big score.
I think true collectors collect for completion, historical value, artistic value, or something like that. I would say that for most true collectors, the financial side of the hobby is a necessary or unintended evil.
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Pillar of the Community
Canada
2187 Posts |
I wouldn't say I'm into coin collecting to buy and sell, and make profit. I'm in it for the history of the pieces, the conservation of old, high grade coins and just plain enjoyment of having completed a set.
I am a rather young collector, and I have met a couple of collectors younger as well (that are on the forum) and I think coin collecting will remain the same in the future.
Slabbing everything is not something I think i'll be doing, but I would slab all the pieces I would like to keep in good shape and display nicely.
That being said, if I do find a piece I am not very interested in but believe I could flip for a profit, I would do it. It would have me use the money towards something I do need in my collection.
Just my opinion
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Valued Member
Canada
276 Posts |
My $0.05, from reading all of the great posts.
I'm 44, and I believe I am a coin collector. I keep track of my coins in excel for now. I started later in life.
True collectors, in my humble opinion think of gaps in their collection, the need/urge to go hunting for coins to add, the feeling of happiness, and if they can get a deal, that is great too. The same feeling was in your childhood when you either collected comics, hockey cards and/or baseball cards, etc. Your just an adult now with that, happy the world is mine to discover kid, inside. Collectors want to talk about numismatics, history, value, and their collection to other collectors. Like a shiny restored classic car, collectors here, want to show off their coins. Definitely, yes show them off.
It is my belief, part of the issue, with non-collectors, is the "picker" or "storage/auction flipper" mentality from so called reality television shows. The value proposition mentality. I agree with Gilles Pavot-Drapeau, the future of coin collecting or any type of collecting is the next generation picks it up as we did. There was a discussion thread not long ago discussing that very trend of younger people may not be into coin/stamp collecting as the previous generation, and definitely the generation before that.
One thing I'm noticing is the lack of a timeline? The future in 10 years, 20 years, 50 years, 100+ years? Will we lose physical currency? In my humble opinion, in my life time maybe, in your grandchildren's lifetime, definitely. Will that end coin collecting? I can not say yes or no.
Also, I bet most of you, true collectors, go through viewing a part of your collection every day. It relaxes you, yes?
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Valued Member
Canada
52 Posts |
Hey everyone on cc ! ive been collecting strong now for a year and a half and have grown my denomination sets. I need only 8 more small cents to complete my Canadian small cent set-> which includes most mint marks and varieties. I enjoy collecting coins not only because it's fun and a great hobby to gain knowledge of Canadian history, but also I like to enjoy and see that I have a piece of history. oldest coin- Russian 2 kopecks 1813
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Pillar of the Community
Canada
1046 Posts |
imo
the future of coin
collecting is very
bright!! it is a worthy pursuit
within reason, and can be enjoyed
by just about everyone
i only wish I was better
@ it though
my own learning curve is very very
steep
cheers
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Valued Member
United States
115 Posts |
I'm 34 and been collecting for the last 8 years, I haven't gotten into slabbed coins particularly because they cost more. I still have to take the Wheat penny out of the take a penny tray at gas stations when I see them. |
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Pillar of the Community
Canada
2845 Posts |
On the topic of types of coin collecting, I think it's whatever gives one satisfaction, slabs or no slabs. But no slabs for me, unless it's ICCS I don't buy expensive stabbed coins and those I have purchased, I've hammered free.
After shelving a family collection for more than 20 years and then filling in some gaps and making some upgrades, I decided it needed to reach the present year because it was appearing that time was standing still. So I chose to selectively buy Uncirculated Sets in duplicate, retaining one intact for continuation to that what I ready had, and then I began snipping. What great fun and my albums look terrific......the new, shiny (PL) coins suggest to me a different recent era of time that perfectly compliments the earlier (some anyway) well worn coinage that passed through many, many rugged hands in the days when even a penny mean something. As others have mentioned, it's the history part - plus time rolling on as well - not unlike looking back over a well documented calendar - that I think makes coin collecting a fascinating and rewarding hobby.
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Replies: 35 / Views: 7,238 |
First Page
Posted 06/07/2015 09:02 am
