Is coin collecting in danger because of THIS?
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- เผยแพร่เมื่อ 6 ส.ค. 2024
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I think the hobby is booming and has a really bright future. The amount of young and extremely knowledgeable dealers out there is incredible. Some of the old timers don’t see it though because a lot of the young dealers are mostly active on social media where the older people for the most part are not.
That’s very true. The younger generations target a different market then the older ones.
I don't know. I'm pushing 70 and have been online for nearly 30 years and have been collecting coins for 50. I left Twitter, hardly dipped my toes into Facebook and MySpace before that. In the mid-90s I was hooked on AOL for a few years. Quora and TH-cam are my primaries at present.
But, other than some US Mint Subscriptions, I'm not too active in buying nowadays. Heck, I'm involuntarily retired and not made out of money. It might take the rest of my life to enter data on my collection into CoinManage USA. I just received my 2023 Proof Peace Dollar today!! I got lucky in 2020 and bought a roll of 90% Quarters on the dip below $13/oz. 10-15 years ago I was heavy into stacking 90%, with the goal of my own body weight in silver coins and bullion. Almost made it, before the company I worked for went belly up in 2014. Out of all of the 90% I accumulated, I did a pretty impressing filling of Dime, Quarter, and Half albums...just from "junk" silver. Gawd, I hate that name.
I've never gotten into the slabs, even though I can understand their appeal for liquidity, just not my cup of tea. I like albums, rolls, boxes of cardboard flips. Lordy, I've got a closet full of unopened US Mint White Boxes from the early 2000s. Some might think I was more of a hoarder than a collector if I die and they inspect the stash. The albums are the pinacle though, and I hope someone appreciates those.
About the hobby dying out. I am concerned. I've got three sisters, all of them have children, and are grandparents. I've got nephews and nieces, great nephews and great nieces galore! And, not ONE of them shows any interest in coin collecting. I honestly feel that the multiple designs produced every year since 1999 has hurt the hobby. It used to be that you could have everything the mint put out with 10-15 coins per year. Now it's dozens of coins annually.
Long gone are the days when the mint produced interest by putting out a few bicentennial coins. Coins nowadays are like astronauts. When I was young, a space geek could know the names of every single astronaut. Try that now.
Online stores are fine, but nothing beats a one-on-one relationship with your coin dealer. Sometimes a personal relationship is far more valuable than a picture and a pitch. Thanks for sharing Speg. Catch up with you at a local coin show.
I have seen way too many fakes up for sale online right now! I ask the sellers what the weight of the coins are, they won't tell me bc they KNOW they are selling fakes
Well said!
In the 1950's and early 1960's we had a pawn shop who was owned by a buyer and collector of coins...Plus we had a drug store owner who started a coin collection club...
Is that how you got started?
@@mrsspegtacular6484 yes..
I am going to be leaving my current profession as a welder soon to become a coin and bullion dealer full time. I am taking the transition slowly though. Not rushing in and have it fall apart. Currently working part time at a coin shop and will go full time there for a while before I look at trying to start out on my own. I think the coin collecting community is doing great right now, but it will inevitably slow down again and then pick up... everything goes through cycles. Enjoyed the video Speg.
we are in slow period
The interesting thing now is everyone has access to the data. Whenever you see a slab you can check recent comps in seconds. There’s a lot of “retail” buyers grabbing the sub $2k coins. I think the best way to go is to try to have one awesome rare piece more than 50 more common pieces.
Love it so true. You hit the nail on the head. We love our coins. Your show is one of the best on TH-cam.🎉
Wow, thank you!
I think that it's generally good but when everyone has auctions and a website and everyone wants you to do the same thing there's going to be some folks who get fatigue and just take a step back from the scene
It's definitely changing because as times go, things change, people change. But all in all I think it's been a positive. If we can get more folks into sound money and understanding the true intrinsic value of gold and silver, yes, at the end of the day I think that's a plus
The one certainty is we’re ALL destined to part with our stack/collection because it can’t follow us to where we ultimately go next. So if stacking brings you joy and you can afford it, continue! If you need $ for some immediate pressing need, liquidate some of your stack. And if you haven’t already done so, make sure there are clear instructions left with someone(s) you trust on where your stack is and who you want to have it when it’s your time to skedaddle.
I just started collecting this year after I watched the Coin Guy and Spegtacular shows, very interesting. There’s so much to learn from. Thank you very much.
You speak words of wisdom Speg. I hope everyone is listening. Peace man😀🇺🇸
Only time will tell!
I only collect bullion where the condition and rarity does not matter so much. Having said that most of my gold coins are Sovereigns and they have started to accrue collector premium despite being bought at bullion grade. There are plenty of pitfalls collecting antique coins as you pointed out, but coins add another angle to a portfolio, especially rare coins. These coins are not as volatile as other investments such as shares but from time to time may fall in value because they are out of vogue. I think if you have a house sorted then investing in rare coins can be an option and a chance to meet some interesting people (such as the Great Coin Guy!). Do not expect them to go up in value quickly, it can take plenty of time and of course you have to work out the best place to sell them, ebay is not a specialist coin site for instance. I think the hobby will be okay even though cash is currently being phased out and therefore out of sight and mind.
That’s a freaking awesome hoard of sweet slabs you got there Speg 👍 yours is a great channel , you share knowledge 👍 keep up the great work
Appreciate you always coming around Kayne!
Is been a while since I bought any coins but I still love collecting
What keeps you from adding to your collection?
Hard times will making collecting more difficult, but stacking will likely keep it alive to some extend because most stackers have some sort of collection.
We also had coin shows before the internet, and probably more coin shops than today. But most coins, even in the 1990s, were not slabbed and we had to judge coins for ourselves. Some collectors were even ok with cleaned coins before the slabs took over. I was fortunate that I searched out naturally old-looking tarnished coins, which are valued more today of course.
I recently got back into coin collecting. I initially got into collecting coins as a kid since they started the statehood quarters the year I was born, so I grew up with them and loved to collect them, see all the different designs and put them in books. Around that time I would get really excited when I’d occasionally find old wheat cents, and one day I was lucky enough to find a mercury dime in my change, I still have it in my collection today. That’s what made me realize there was more to coins than quarters with states on them and the bicentennial nickels and Pennies they did in the 2000’s, and that’s what really got me interested in collecting old coins. Unfortunately, the whole being an unemployed child thing became a bit of a problem and I hit a wall with what I could afford, being locked out of coins that were above about $25, and I stopped collecting coins for a little over a decade. Now that I’m older, I have more money and I was able to complete the 20th century type set child me had dreamed of completing, and I’ve now moved to the 19th century. As of now, I’ve managed to collect at least one instance of every coin from the 1860’s up to the 2020’s with a few coins that are pre 1860’s, and plans to keep going father back and going back to get some of the different versions of designs I already have. I’m also just a braided hair half cent way from having all the different coins minted in the 1840’s and 1850’s as well. I’m sure I’ll hit a wall again, as I complete all the capped bust collection and move on the the draped bust ones that lasted from the 1790’s to the half dime lasting up until the 1820’s, but maybe in another decade I’ll be making even more and I can finally have a collection that will be just about as complete as an average person can manage. I may even move to trying to get some of the lower denomination gold coins, it’s wild that I can get a quarter eagle for cheaper than a draped bust half dime lmao.
It's an extremely broad spectrum of product available to the Community! I would guarantee there is a niche, for anything you could want to collect!
My parents had a small catering truck from the mid-60s, to the early 80's.
My Mom used to give me all the foreign coins She ended up with.
I only have a handful of them, but I've got some weird ones, and they're cool.........priceless to me.
Very interesting topic. In the stacking community I've run across the statistic that less than 1% of people hold gold and silver. I wonder what percentage of people in the USA or worldwide are active coin collectors? If it's less than 1% like stacking, I'd say there is plenty of room to grow. I mean look at the massive variety in the hobby, possibilities are almost endless .... More women in the stacking and numismatic world now too
7th largest city in the country and we have nothing but crooks around here and the others have nothing to look at in person. The one or two that have inventory have them priced so high they are covered in dust. eBay has some honest coin sellers but I’ve met several that are bait and switch scamming sob’s. It’s depressing for a coin nerd such as myself. That will kill the hobby for future generations. I know people who never sell and others who sell all the time. I’m from the gun world and it’s very similar.
Silver was still being minted when my late father got me started on collecting lincoln cents buying $50 bags of cents were mostly wheat cents and occasional Indian Head cents; didn’ t start buying silver until the Early 70s, cashed in when silver hit $45/ounce in late 1979; early 1980; then started over about 1985; cashed in again in winter of 2011/2012, started the cycle again in 2015; keep a balance between numismatic & bullion; for every good influencer like you; there’s dozen’s of nefarious folks on the internet as well as some at physical shows; congratulations on your success.
Great video. It was nice going down memory lane with your explanation of recent precious metal highlights. 👊
Coin collecting is probably the oldest and most popular hobbies in the world
I think the principles they teach us in investing (remain diverse, buy the dips, etc.) apply to our sources of income too. Like you, I have a career AND I have a side gig (completely separate) from my career. I invest in the stock market as well as precious metals. When / If I retire (I love what I do and really don't want to), I'll have my pension, my roth IRA, and my (growing) coin collection to live from. My goal is to never have to sell it, but to give it to my 8-year old nephew who is steadily becoming an informed collector. Maybe it will continue in his family for generations to come. Maybe it will stop with my nephew. I don't know. All I know is the little round pieces of metal in those slabs you're showing us will never be worth zero. There will always be future generations, hundreds of years from now, that will want to own what we today are caring for and preserving. I say: 1) keep collecting, 2) don't go into debt over it, 3) keep working your regular job too, and 4) have fun with it. If it stops being fun, then we're all in trouble. Thanks for the video Speg, and for showing us some very cool pieces in your collection. God bless you, your family, and Coin Guy. :)
Thank you for the video.
Us old heads remember the GSA auctions in the early 70's .
Great take! Thank you for the last 30 seconds.
Glad you liked it!
I've been collecting since the late 60's.(old guy here) I've seen a LOT of change over the years and I like it! I am on TH-cam, Facebook, Instagram and MyCollect. I enjoy interacting with other collectors and dealers. Today, It is much easier to find a coin for your collection. It is also much easier to access information and evaluate a coin before you purchase. But, Numismatic Loans? That is scary. I don't like the idea of buying coins on margin. I am also concerned about a downturn in the economy. Let's face it, when the chips are down collectibles are the first thing you stop buying and the first thing you sell when you need cash. Thanks. Great Video.
I have to wonder if one day we come to realize....the internet was really a Pandora's Box...maybe?? Time will tell. Great content as always, Speg...great things to think about! Has this been positive or negative....I guess, as I've said, time will tell! Take care, be safe and God bless!
The issue is not if the hobby is robust today but rather what will it look like in the future. People do not collect things they do not identify with and have no connection to. We all grew up with coins in our pockets but our children’s children will the first generation that will grow up in a purely cashless society. I was a kid in the 70’s, I remember the bi-centennial being issued, the Kennedy and the Eisenhower, they mean something to me but mean nothing to today’s generation. The collectables of just 20, 30 years ago are dead like beanie baby’s, cabbage patch, Boyd’s, Hummel, or LLadro. A Good comparison would also be Stamps, Today’s generation didn’t grow up with stamps, mostly. I remember buying rolls/books of stamps but now, I can’t remember the last time I bought a stamp. My LCS who store still says “Coins and Stamps” no longer deals in stamps. Although the rarest are still “valuable” collectors are few, prices are reduced and his stamps just sit collecting dust. When our children’s children grow up, when that whole generation has never handled cash why would they be interested in it. Sure, they’ll still be collectors but will the hobby resemble that of the stamp collectors? I think so. Again, people do not collect things they do not identify with, even for us, how many collect foreign coins, even the rare “valuable” ones? Although interesting, I have a few, our focus is on coins we identify with. As a Mexican -American I focus on American and Mexican coins, because I identify with them, not Mongolian, not Afghan, not British, but on what I have a connection to. I think that will be the coin hobby’s challenge in the future. How to get a cashless society interested in cash (coins) when they grew up never having a connection it? Stacking is Stacking but coin collecting (numismatics) will take a hit IMO.
Well said. social media sites and such could draw attention and bring an attraction to the z gen. But how many will care in the end?
It's Great that you're sharing from your knowledge and experience... Some extremely important insights... Always use caution and patience and perform your due diligence! Thank you Sir for another superb presentation?
I appreciate that!
Thank you for watching and supporting my husband!
@@mrsspegtacular6484 Ma'am, It is my extreme pleasure to do so! I thank you for supporting the Journey too... Behind every good man, there is a great woman! You seem to be an integral part of this experience!
Buy Palladium ... kind of hitting the bottom now. Just acquired a few bars!
Antique People = Antique Coins!!!
Mostly go to my LCS, love 90 percent ( that’s what I stack ) addicted to US Mint products 😂, collector at heart ❤️, thanks Speg, Keep Stackin bro
I appreciate your candor but, were all looking for a hobby the enhances our lives. I've collected since the early sixties. Ive collected coins and bills from many countries, but when I joined the armed services my choices were restricted to Countries that practiced in democratic ways. German coins during Hitler's was not aloud and my choices overseas was limited.
My very reason for collecting is because its fun and free to receive coins or rare bills either in my change from whatever monetary transactions i made that day or from hunting from the bank's resources.
I appreciate your love of our country and Ive sworn my allegiance to uphold it's laws and freedom's as well.
Swearing it from 1st grade until now. I appreciate your views in what to collect and how to take an advantage when it comes along. I do watch your video's with the Coin Guy, his knowledge of the game is brilliant and I've listened to every gift of his knowledge.
Thank you...
People will ALWAYS coin collect! It's booming even more now since "Covid". The Cartwheels will always be in demand. For someone just starting and doesn't have much money I would start pulling out the copper cents from circulation, 1981 and prior and some 1982's. Then start getting PM coinage. Get 90% Ag and go from there.
The hobby I think is getting stronger. I also think 2026 is going to be huge, with the 250th. Would be interested to see what the mint will do to commemorate the occasion, and other 250th landmark events coming in the next decade after 2026.
I admit I'm a little jealous of some of those slabs!! Very nice, Speg.
Thanks 👍 haha 😂
I think the near future trend is prices go up and spreads get narrower for bullion
I agree 💯%. I have had to let a lot of people go. I buy @ my pace, my algorithms, my way, and always get it in hand.
Also... i ❤ icg greenies! Woo-hoo!
Me making an LLC? Hmmmm.... Count Derpulas' Coin Shed.... or Count Derpulas' Mobile Metals??? Hmmm ... Probably not. One can't afford to dream in NY State.
Only some of all of those coins bought are for collections. Large % for invesment portfolios. Ever wonder why slabbed Morgan's are hot and raw Buff's are not? Most 90% are bought by stackers and not by collectors filling in their albums. So while coin collecting is not dead,it is not the hobby,that I remember going back to when I started back in '58 at age 9.
I love your wisdom and your truths coin barbados
Glad am collecting what I can and like and of course want more I also stack on the side but I collect more than stacking love older coins from our history and bk then just don't like when stackers talk about coin collectors lol.. yeah alot of guys doing acutions everyday & asking for shipping etc or donations or what not to buy & what u should buy and people fall for it fast..
Coin collecting can be a productive hobby......... it’s a matter of activating that entrepreneurial skill in you to make it enterprising...... otherwise it is still a FUN hobby to enjoy.....
Nice local show happening soon over in East Hillsbourgh county… Brandon area. Sept 23rd
I see those Coin Guy red lines ...LOL
Hah that’s actually what several dealers do to enhance the numbers. Most of the times slabbed coins were not purchased from Guy in my stack.
Hello, Wonder, what's going to happen to our great hobby when there is no more printed cash, no more coins, ?,,?
So, how do I get into one of these groups?
Cheers, I have Spag. Silver, thanks.
as my stack of maundy silver is building up i've puchased a few coin albums and started putting some date runs together. Not gonna be taking the graded, slabbed, proof route though, for me its just a means of separating my stack so its not all stashed in one spot. I'm English so doing 3' 6' shilling 2 shilling/florins and half crowns. We don't have the variety of different mints like you do but we do have some variation with different countries such as Scotland, N Ireland, Australia, New Zealand, South Africa etc which spices up the date run collections. We also don't have much if anything by the way of coin shops so its pretty much ebay and private auction/forums. On ebay you have folk trying to sell bang average coins at 10x value when they're no better than what i pick up in any random bundle, made up grades based on nothing and most shiney coins have clearly been dipped. I don't have an issue with dipped coins for my collection but i ain't paying extra for them.
I just purchased a1864 seated half dollar in Au condition for $188 won the bid . I'm soooooo happy with it.. raw coin not graded
That's really cool. Congrats.
Spectacular’s sundry slab stack show!
I base my opinion on if they'll tell me what the coin weighs or not. Anytime they come back with "it's probably been cleaned & that messes up the weight" but if it throws it off that much, I don't want anything to do with it! Even slabbed coins have been known to be fakes, but I don't but slabbed coins, for that reason right there, the one I did but was supposed to be a ms 69, so I took it out of the slab & looked at it under a magnifying glass, you could see plainly it was not a real deal ms69, (1 point shy of perfect) bc of all the flaws and scratches and whatnot, so I contacted the seller, but it's not even worth the headache! So I still have it, I wonder what all it's really made of! I don't have one of those machines that tel me if it's real silver or gold or whatever. Wish I did!
Can you take it to a local dealer?
@@mrsspegtacular6484 sure can, but I don't know if they've got any of those machines either? I am just going to keep it & possible melt it down one day just to see what it does. Worst case scenario, I have a ball of silver. Lol.... But I'm not buying right now bc of how many fakes are flooding the market. Especially the ones from 1883 I have seen so many dif coins from 1883 here lately or 1888, and looking like they're fresh off the press! The eagle looks like it's been smoking Crack, looks more like a buzzard than an eagle! Lol
I just buy what I like and can afford. I originally planned to “flip” coins and cards, but I just keep everything. My plan failed.....or did it? Yes, I’ll take that 1863 Oswego NY M.L. Marshall token. Mine isn’t graded! 😊 (Nice stash.)
I am absolutely not a coin collector, and I don’t see any point in it. Brother, I am a Stacker and Stacker will not go out of fashion. But numismatic value is fickle it leaves a bad taste in most peoples mouth. It’s just a big scam to steal peoples money.
Boomers might not be happy to hear this, but they have closets full of this stuff. They did not collect because they liked the hobby, they collected because they knew they might be valuable. Now they are just sitting on the piles. Next 20 years we are going to see many of these hordes start coming back onto the market.
My dad is a great example. He does not collect coins, but has a ton of silver coins he would pick out out of his change over the years. Lord only knows what he has, but many coffee cans full of them at least.
Thanks man, I am a buyer just can't seem to sell. LOL My precious!
Don’t sell!
SPEEEEEEEEEEEEGGGGGGSSSSS TGIF SPEGS AND MRS. SPEGS! GOD BLESS BIG GUY WHERE DO I SEND THE 10% TO? LOL THANKS AND HAVE A MAGA WEEKEND GOOD MAN
Clean that $85 off with a rubbing alcohol pad.
I am hoping and have been saying for few years now someone needs to build app to connect collectors of coins to collectors who want buy and take a small fee and cut out LCS and help bring down prices and also help out with the price desperately because there is not price structure out there that is correct that’s why a lot people don’t get into coins they view this as snake oil salesman
Whats old?
So, I see SpegTacular likes NGC. I prefer PCGS but only because of their website interface. NGC's website is not very intuitive. What do you guys prefer?
Way down that wrabbit hole 🕳
Off topic but what's going on with your thumb is that a bruise or some kind of an ink mark?
Smashed my thumb while hammering silver and the blood won’t come out from under the nail.
@@Spegtacular hope it gets better
Just colored.
Ebay is the best platform.
Numismatic LOAN? If that is not trap what isn't.
A few companies on board now… including coin grading companies….
free shipping !!!!!
Jesus probably collected silver and gold coins growing up...
Omg old white ladies, how racist! Haha just kidding! Unfortunately we live in a world now where someone would say that and be serious.
Great video as always!
I’m so baaaaad
Sorry speg, I thought I was on a dif video when I left them comments that had nothing to do with this video, my bad!
Did you just assume my aaaage??? That's ageism - I'm gonna sue... >:/
Whoops!
Waiting for the seller market to collapse 😁
Probably another FOMO and YOLO. Most people will again lose money as you have to hold these for 10 years plus to make a decent profit
Where are your Raw coins? Too much emphasis on 3rd party graded coins?
The coins sell themselves...the rest a Pyramid.
You know what's happening, everyone wants a piece.
You're chasing around the topic for content that's another avenue, make the money when you're young.