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Is Our Coin-Hobby Becoming More, Or Less Popular?

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stevex6's Avatar
3352 Posts
 Posted 08/17/2011  6:58 pm Show Profile   Bookmark this topic Add stevex6 to your friends list Get a Link to this Message Number of Subscribers
Sorry, for I'm sure that somebody will man-up and state that this topic has been discussed-to-death in previous threads, but ummmmm? => are there actual statistics stating if the number of numismatics is increasing or decreasing?

I am 48 years old, so I grew-up in the "cash in hand" era ... but lately I must admit that I rarely carry "cold hard cash" anymore ... my VISA Card is red-hot, so I am thinking to myself, "self, in a few years will anybody actually be using coins and/or dollar bills?"

So does this fact make coin-collecting "more" popular, or will coin collecting fade-away as the use of coins slowly fades-away?
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United States
1590 Posts
 Posted 08/17/2011  7:55 pm  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
Coins, I don't think, will ever fade away. Physical money is still very much used in the Grey Market. Ever tried to use your Visa at a garage sale, or flea market? With the economy the way it is there is a huge demand for cash in the various underground economies. Also a large percentage of coin shops I go to do not use credit cards. And the ones that do will give me a better deal for cash.
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rachums107's Avatar
United States
3345 Posts
 Posted 08/17/2011  8:31 pm  Show Profile   Bookmark this reply Add rachums107 to your friends list Get a Link to this Reply
As more people are born into the world and communication increases, more people will become interested in different things, one of them being coins. That's why so many different people are specialized in certain things that awhile back no one had interest or time for. So out of the millions of people born this year, a few of them must be interested in coins.
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DNA's Avatar
United States
2734 Posts
 Posted 08/17/2011  9:08 pm  Show Profile   Bookmark this reply Add DNA to your friends list Get a Link to this Reply
I'm still "cash-in-hand" and proud of it! (see my sig)

Unlike cards, cash doesn't have a magnetic strip on the back to wear out...
So I don't make other people wait more time in line while the cashier has to type a card number in.

I've received hundreds of silver coins in my change since 1982 (including a 1964 Dime yesterday!), because I pay in cash. I'd like to thank all those people in line before me at Target yesterday for paying with credit/debit cards, so I could get that '64 Roosie in my change...

Quote:
(Coin shops) will give me a better deal for cash.

Other businesses, too, but coin shops always love cash deals!
Edited by DNA
08/17/2011 9:18 pm
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glenzy1's Avatar
Canada
1554 Posts
 Posted 08/17/2011  9:40 pm  Show Profile   Bookmark this reply Add glenzy1 to your friends list Get a Link to this Reply
I feel we may see an upsurge in coin collecting. The reason I believe this is because stocks/bonds/retirement funds/pensions are no longer the main stay of future securities for people's retirement.
I believe that people are going to look at hard assets such as gold and silver bullion for security.
This being said, much of gold and silver bullion is found in coins and not only bricks/1 oz blocks. Therefore, I feel people may enhance their inventory with rare collector coins once they see that there is little or no drop in their value in long term holdings!
Perhaps this is only wishful thinking on my behalf, but you never know?

Glenn
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JackB's Avatar
United States
1064 Posts
 Posted 08/17/2011  9:54 pm  Show Profile   Bookmark this reply Add JackB to your friends list Get a Link to this Reply
Seems to me the recent uptick in CCF members points to renewed interest in collecting. Maybe some of it has to do with the rising values (and public knowledge) of PM's, maybe it's the passing of the Greatest Generation, and lots of good stuff being left to kids and grandkids! Maybe it's the States Quarters and National Parks programs, maybe the U.S. Mint has spent more on advertising... whatever the reason, I think it's great, the more the better!
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camhunt2's Avatar
United States
3 Posts
 Posted 08/17/2011  10:22 pm  Show Profile   Bookmark this reply Add camhunt2 to your friends list Get a Link to this Reply
Well I am a plus 1 if that helps. This is my new addiction. I feel like a kid again a little. I collected baseball cards as a youngster. It taught me a lot about the value of a dollar and even though the baseball card market crashed it taught me skills in economics as a youth that is invaluable. I currently have been buying silver. I like Morgans, Peace dollars and medium premium bullion. I like getting different things and don't mind paying a small premium for kooks, lunars, brittannia and the old silver dollars are awesome. Why just pay for spot price when you can get a really cool coin for 2 dollars more. Thats just me but to each his own. You will get it back in the end. Keep stacking and have fun while making money.
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Kopper Ken's Avatar
United States
3402 Posts
 Posted 08/17/2011  11:11 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
Hopefully this bullion/commem craze will fade away fast and numismatics will once again reign supreme.

KK
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Buddy's Avatar
United States
7075 Posts
 Posted 08/17/2011  11:16 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply
I'm another plus one and I am dragging my husband along with me. He has some interest but not a lot of time.

I have been collecting since I was a teen (more than 40 years ago). But I was never very serious about it. I never bought a coin until this year. I would just set aside any silver dollars and buffalos, etc. that I came across.

I just got interested again this past year. My father-in-law passed away a few years ago and we found the coins he had set aside while we were cleaning out his house. My husband dragged out his old coins and it all started to look like a collection.

I still don't quite know what to pursue -- but I am having a great time learning about coins.
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Archraz's Avatar
United States
3499 Posts
 Posted 08/17/2011  11:27 pm  Show Profile   Bookmark this reply Add Archraz to your friends list Get a Link to this Reply
I wonder if it is becoming less popular since many people are starting to merely view coins as bullion/ investments rather than actually liking to collect them. As bullion metals go up, more and more coins which were once perceived as being collectible are being shipped off to the smelter.

Also, do you think that just modern forms of entertainment, such as video games and forms of communication via the internet, become ever more ingrained in the lives of young people that coin collecting and other sorts of "analog" hobbies will fade?
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Wei Fun's Avatar
United States
244 Posts
 Posted 08/17/2011  11:47 pm  Show Profile   Bookmark this reply Add Wei Fun to your friends list Get a Link to this Reply
It's really hard to say whether the hobby is growing, shrinking, or staying the same, because there's never been a good way of figuring out how many people really collect, and how serious they are.

Anecdotally, the State Quarters brought a lot of new people into the hobby, but prior to that, my feeling is that the number of collectors was dwindling somewhat, but the seriousness of those who collect increasing.

That's just a personal guess/belief, but back in the day, there were plenty of coin shops around, definitely more than today, which implied enough business to keep them all open, but I never really knew anyone who was hard-core (growing up in a fairly poor community might have skewed my experience in that regard, I grant).

Now, information is more accessible, and we have access to far more dealers than we did back in the day. We also have more disposable income to devote to hobbies, all of which allow collectors to be more serious about collecting.

Anyway, why would the end of coins as circulating money mean the end of coin collecting? I can envision, hundreds of years in the future, people still collecting coins saying "wow, people actually used to think these things were money?" I guess my point here is that coins will always be collected because, even long after people have ceased to use coins, they're still a part of our history, and what is a more integral part of history than money? The form might change, but that understanding I suspect won't.
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sel_69l's Avatar
Australia
21786 Posts
 Posted 08/18/2011  04:00 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I DON'T have a credit card, there is too much identity theft for me. I only pay in cash, even for utility bills; these are paid at the Post Office next door the the bank.

So far as numismatics is concerned, there has been much greater interest in bullion coins. That is obvious from current threads in the CCF. IMO, there has been a 'spin off' from this into numismatic interests from both new and long established collectors.

Is the hobby of numismatics growing? I think the answer to this can be provided by the variation in numbers of numismatic dealers, and in the volume of their business.

A dealer is probably in the best position to answer this question.
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vermontensium's Avatar
United States
16677 Posts
 Posted 08/18/2011  04:14 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I have a credit card through my credit union which gets paid in full every two weeks so, balance: $0
That's another story or thread.

More popular. I see many more people at coin shows I attend than ever before and, new members joining the CCF in numbers I have not seen since I have joined in 2008. Bullion, up...new interest in that. It all adds up.
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Sap's Avatar
Australia
16808 Posts
 Posted 08/18/2011  04:57 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply

Quote:
It's really hard to say whether the hobby is growing, shrinking, or staying the same, because there's never been a good way of figuring out how many people really collect, and how serious they are.

I agree; the number of "dabblers" can really only be guessed at. The only sources of reliable statistics on coin collecting are from organized numismatics: coin dealer and mint mailing lists, coin catalogue sales figures, coin show attendance figures, and coin club membership lists. I don't have access to dealer, book, mint or coin show statistics, but I can tell you the basic stats about the coin club I'm the Secretary of here in Brisbane.

The QNS started out in 1986 and by the end of that year we had 87 members. Membership peaked at 96 in 1989 before gradually falling to a low of 67 in 2002. Since then we've climbed steadily up again and are now sitting at 86, about where we first started.

Now, given that the population of the city and the country has almost doubled over that time period, I can't say that "holding steady" over 25 years represents a growth in the number of coin collectors. But I think the growth since 2002 has kept in line with the population growth. Things were certainly worse a decade ago.
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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KenKat's Avatar
United States
4085 Posts
 Posted 08/18/2011  08:56 am  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
I think that the number of people interested in coins is going up but the number of collectors strictly interested in the numismatic aspects is waning a bit. A lot of those people you see are into bullion, not collecting in my opinion.

The guys at the coin store last time I went in said "thank god, someone here to look at COINS! - all we get now is people wanting to sell gold".
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Sap's Avatar
Australia
16808 Posts
 Posted 08/18/2011  09:05 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
I've had much the same comment from dealers around here recently. Everybody wants bullion, nobody wants coins.
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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