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Replies: 19 / Views: 2,133 |
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Pillar of the Community
United States
1048 Posts |
Collecting and investing in coins has been a challenge the past few years, with all the Chinese fakes floating around.
But an even more existential question has arisen in my mind. Will the market simply die off? That's been happening with stamps.
Postage stamps used to be part of most everyone's life. We wrote and received letters. We went to the post office to purchase stamps. They had utilitarian meaning for us. Not so much any more.
These days, many of us go days or weeks at a time without touching legal tender. We swipe, we tap, we internet bank. For the average person, coins have less and less meaning.
Sure, coins will always have aesthetic and historical meaning for some of us. I'm just worried that as time passes, there will be fewer and fewer people with any tangible interest.
Edited by pristine2 07/26/2023 5:51 pm
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Moderator
 United States
54280 Posts |
What worries you about it?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here)
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Bedrock of the Community
United States
94367 Posts |
Stamp collecting is very much alive, if not so well publicized.
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Pillar of the Community
United States
4233 Posts |
Stamps are paper, but classic coins are silver and gold. (OK, copper and nickel too). Perhaps I'm naive but all this swiping and tapping stuff isn't going to last as long as metal currency has lasted.
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Pillar of the Community
United States
7618 Posts |
Just like I love my coins, I still love my stamps, too! I look for bulk older unused gummed stamp lots on ebay to add to my hoard and to use the excess for postage. Funny how you can sometimes buy older mint unused stamp issues at half (or less) of "face" value. Actually got about 500$+ in face 8, 10, 15, 20 and 25 cent stamps for less than 150$ a few months ago! I go thru the stuff, keep what I find interesting and then use the left overs for postage on packages/letters/cards that I send out. Helps take out a little bit of the sting caused by postal rate increases. It's tough to buy coins for less than face value!
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Pillar of the Community
United States
5826 Posts |
The USPS killed stamp collecting for most US collectors.
I enjoyed soaking used bulk lots as a kid and as adult, but it stop when everything goes self adhesive.
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Moderator
 Australia
16826 Posts |
Phonecard collecting died out when the technology moved on and they stopped making and using phonecards.
Stamp collecting is dying out, because the technology has moved on and they no longer make and use stamps to anywhere near the extent they used to.
Coin collecting will die out, if/when the technology moves on and coins are no longer made and used as money. "Used as money" is already redundant in the United States, where the de facto highest face value coin (the quarter) has virtually no buying power, so is essentially useless as "money". Coins with higher face value exist elsewhere (Canada, the Eurozone, Britain, Australia, Japan, etc) but it is rare for new high-value circulating coins to be introduced now; coins are seen as obsolete technology, too inconvenient and (for high value coins) too easy to counterfeit.
This is all disregarding whatever push might be happening from the banks to abolish coins as a money-saving measure, and/or from governments as an anti-dark-economy measure.
Once it becomes virtually impossible to find a coin "in the wild", or to use a coin as money if you have one, then coin collecting will become the interest of a tiny eccentric minority with an interest in obsolete artifacts.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
467 Posts |
Quote: Stamp collecting is very much alive, if not so well publicized. 
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Pillar of the Community
United States
2281 Posts |
No
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Pillar of the Community
Russian Federation
5172 Posts |
Quote: but it is rare for new high-value circulating coins to be introduced now Depends on what qualifies as "new", I guess... but yeah, I can think of several big denomination additions from the mid-1990s (£2, ¥500, 10 NIS) but offhand nothing newer than that (that didn't involve a very recently created currency). I'm really hoping that coins won't go obsolete, but it sure seems that the world is going that way (for now, at least).
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Pillar of the Community
Australia
599 Posts |
Agree with Sap. Coin collecting will eventually become an eccentricity. Hopefully not in my lifetime.
Watch your top knot
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Bedrock of the Community
Australia
21786 Posts |
The discussion in this thread explains some of the reason why I have spread my collecting interests across the whole of numismatics, ancient to modern, covering all cultures.
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Pillar of the Community
United States
4416 Posts |
The slabbing, the marketing tactics, the investor interest, the get-rich-quick folks, etc. have all contributed to promoting negativity in this fine hobby, methinks; this, in some measure, mind you. Coin collecting has been around since the first coins came off the anvil. I don't see it ending. The problem is that it's become so aligned with gathering wealth in a now inflation-driven economy. Those who view coins as "product" or simple commodities will forever fall by the wayside. True collectors, those who enjoy and study coins, will remain. It's worked for me; and, for almost seven decades now.
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Moderator
 United States
188213 Posts |
Quote: Agree with Sap. Same. He said everything I was thinking as I read the OP. I do not believe it will completely die in our lifetime, but it is quite possible our heirs' heirs will end up with more junk to be disposed. It is an uneasy feeling for those of us who take the long view. 
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Pillar of the Community
 United States
5178 Posts |
Coin usage will make a big comeback if governments start abusing digital infrastructure. Not to mention the possibility of a network hack or a total network collapse by EMP. For instance, people in Kazakhstan and Turkmenistan went back to barter and coin usage when both countries shut down the entire internet to prevent dissent.
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Pillar of the Community
 Canada
5394 Posts |
"Coin collecting will eventually become an eccentricity." Umm . it already is in my place !! Coins will be collected for a very long time into the future . It looks like the hobby is doing just fine!
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Replies: 19 / Views: 2,133 |