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 Replies: 32 / Views: 7,802 |
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Pillar of the Community
Canada
605 Posts |
I love ebay. For as long as ebay exists and there will be coin transactions this industry will not die out easily. I threw Heritage as one of many auction houses that sell high end coins. Their revenue on year to year basis must also be on the hundred of millions of dollars in transactions as well. I cannot see coin collecting dying. I agree with you guys that it is evolving and I hope it can get bigger. A cashless society does necessarily mean coin collecting will die off, I think the opposite may happen. If the word hobby is taken out of the dictionary and this word can evolve and become more unique to complement the investment side to coin collecting than I think the future is bright. |
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Moderator
 United States
189603 Posts |
Quote:For as long as ebay exists and there will be coin transactions this industry will not die out easily... A cashless society does necessarily mean coin collecting will die off I concur. As long as there are coins for sell, there will be collectors. Just look at all of the "dying" collectibles that have sold on ebay recently. People like to buy things.  |
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Pillar of the Community
 United States
7962 Posts |
Quote:
I threw Heritage as one of many auction houses that sell high end coins. Their revenue on year to year basis must also be on the hundred of millions of dollars in transactions as well. The health of the hobby is measured in number of transactions. The health of auction houses is measured in terms of their revenues. A million coin sales of one dollar each on ebay is far more important to the hobby than one million dollar sale on Heritage. Edited by tdziemia
03/05/2020 9:58 pm
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Valued Member
United States
62 Posts |
According to my bank account, coin collecting is alive and well. I was at a large coin show a few weeks ago and it was standing room at many dealer tables.I was only after US Large Cents and did not have to fight anybody off at the early copper dealer tables.  |
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Moderator
United States
189603 Posts |
Quote:
According to my bank account, coin collecting is alive and well.  |
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Pillar of the Community
United States
2850 Posts |
I will chime in here. Collectors/dealers are finding new ways to go about business. All of my transactions are online take place on social media. (i.e. Instagram and Facebook) There are mass amounts of folks on Facebook buying, selling, and sharing their collections in multitudes of group pages. Instagram is also a great place to sell and showcase your collection and the majority of the folks on there range from their teens to late 30s to early 40s. The reason you are not seeing these people is that they have the world at their fingertips in terms of buying. The younger generation has adapted to what works best for them and what they are comfortable with and that is online buying. Why go to a coin show when you can lay on your couch and shop?
As for another example, an Instagram coin dealer that sells solely online is now finally opening a brick and mortar shop... in his 20s! This all started from Instagram and perhaps wouldn't have been possible without it. One has to step back and look around at what else is out there. Yes, coin shows are great, coin shops are great, but there are also other options that have arisen and are hiding in plain sight. Coin collecting is alive and well and if anything, seems to be grabbing more and more everyday with the ease of social media.
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Valued Member
Finland
294 Posts |
I think we don't have to worry about the popularity of our hobby. It's clear that if usage of cash is going down, so would the amount of collectors. Look what happened to philatelists.
But we have billions and billions of minted coins around us. There will be enough coins to collect for everybody for centuries to go. Prices will go down in many cases, but isn't that good thing for collectors?
If you are still worried by the future, there's few things you could do:
-use cash, not cards (not now though, mind corona)
-use odd coinage, such as dollar coins. They would spark joy and interest when circulate.
-reduce the amount of coins in coin market. Yes, exchange foreign coins, melt common silvers, throw worn coins into metal trash bin. Lesser supply of common stuff = better prices. People would honor the common coins more if there wouldn't be so much stuff available as now.
Or...just enjoy this hobby as it is :)
Edited by Eurocoin
03/21/2020 10:17 am
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Pillar of the Community
United States
7962 Posts |
I continue to be interested if there are any real numbers out there that shed light on this question, which we see over and over out here on CCF. To me that looks like revenue trends for the big auction houses (for example, is heritage clearing more in 2020 auctions than they did in 2015, 2010, 2005, 2000), but also maybe the number of small auction houses, and especially figures on ebay transaction trends. I don;t get any coin publications on a regular basis. Are any of these statistics published there? Are there industry newsletters for dealers that share this kind of info? |
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Pillar of the Community
United States
1613 Posts |
I think the hobby is holding steady. There are some younger people entering as is evident on the ANA website forums and such. What concerns me the most is third party grading, and more specifically CAC. I doubt that few, if any, new collectors begin a collection by buying these. As such, and with so many obsessed with them, I think this frightens off the newcomers. What I mean by this is, from personal experience and 46 years of collecting, far too many criticize those of us who collect raw coins. This is not to say I do not or would not buy them. I have many, but most are in their natural form. To be clear, there is absolutely nothing wrong with this manner of collecting. From a beginner's perspective it becomes far to expensive and they lose interest. In short, third party's purpose as a means of authentication and grading has taken a back seat to label marketing and fancy stickers. ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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New Member
United Kingdom
2 Posts |
I'm.a new collector. I want all the coins with queen elizabeth on them. What is the best way and most cost effective way to do this?
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Pillar of the Community
United States
7962 Posts |
For Elizabeth II, definitely ebay, maybe combined with using your local coin dealer, who will probably have some things in their bulk coin bin (here it is usually 4 for $1 or 5 for $1). At least this is my experience being based in the US. When I put together my world birthyear set, which goes back to the era when many countries in the Americas and Africa were still British colonies, I used ebay. For Elizabeth I, you probably want to use UK auction houses (including CNG) to avoid fakes. I have only a few older UK coins (though none wirh ELizabeth), and got most from CNG because of the ease of doing business with them from the US. Good luck! It's always good to have a clearcut collecting goal like that (though if it is QEII, I think you are talking about thousands of affordable coins). Edit: You might also look at auction houses for bulk lots of QEII coins, which could be economical. SOme of our UK embers will add their ideas. Edited by tdziemia
03/22/2020 08:57 am
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Pillar of the Community
United States
7962 Posts |
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What concerns me the most is third party grading, and more specifically CAC. I doubt that few, if any, new collectors begin a collection by buying these. I do think there is a category of "collector-investors" who consider graded coins at the outset. We occasionally see questions here ("I am a new collector and want to know if it is best to buy graded or raw coins?"). I would expect this type of collector is less important to "health of the hobby" the way I would measure it than pure hobbyists, but ...  |
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Bedrock of the Community
United States
17884 Posts |
Quote:Just look at all of the "dying" collectibles that have sold on ebay recently. True. How long has it been since they made shoes with buttons that needed buttonhooks? There are collectors of button hooks, they even have a national organization amd annual convention. There are currently 714 auctions for buttonhooks on ebay, and 313 sold listings. Yes it isn't a lot, but it's there. (And you have to admit that collecting buttonhooks has never been a mainstream hobby.) |
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Valued Member
United States
417 Posts |
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By far the biggest threat to the coin collecting hobby is the proposed introduction of a cashless society. I think the opposite - coins (old/rare ones anyway) will be cool old relics and will be highly collected. Like RCA Victor record players. The killer for me is counterfeits. It has knocked me out of the collecting game, as I have assembled a near complete type set, the only exclusions being the very valuable early types (and a few oddballs like the Gobrecht dollar, etc). Yes I could buy slabbed, but those are so much more expensive, and I don't want big plastic cases, I want nice raw coins that I can hold & 'interact' with. But valuable raw coins = high chance of counterfeits. And they get better and better, and there seems no end in sight. Edited by TimNH
03/23/2020 10:26 pm
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Valued Member
United States
376 Posts |
I'm opinion it'll never die it's hobby and someone will always have an interest in coins they have been around a while lol. I enjoy the varieties,RPM, low mintage and Hub doubled coins to seek and collect and also some of the mint errors are extremely interesting and also a gift to look at exam esp when u find them in the wild. I believe errors and varieties will only grow as more collectors understand and realize how beautiful they really are.
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Replies: 32 / Views: 7,802 |
First Page
Posted 03/05/2020 2:39 pm
