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Coin collecting as a hobby for the future?

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Hi all,

Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

So just wondered what your thoughts could be on the future for a coin collector?

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Thanks Azda, I should have read through the posts, this one sure answers a lot.

So on the whole are the days of the 'old fashioned' coin dealer gone? seems it could be to me, shame really. We seem to be relying on technological advances a bit too much, just wait till the lights go out!!!

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Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

For new collectors - especially the young without much money - the chance of getting good coins to start a collection, is less and less. Common coins are around in abundance though, so if youngsters stick to those, there's still hope. But upgrading to get good stock requires more and more outlay, which is great for existing collectors with decent coins, but I'd say the long-term outlook isn't that great for newbies.

If the current interest subsides though, and prices see the sort of 'correction' that house prices saw, who knows? But, the stock of predecimal coins is finite and getting smaller by the year.

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Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

For new collectors - especially the young without much money - the chance of getting good coins to start a collection, is less and less. Common coins are around in abundance though, so if youngsters stick to those, there's still hope. But upgrading to get good stock requires more and more outlay, which is great for existing collectors with decent coins, but I'd say the long-term outlook isn't that great for newbies.

If the current interest subsides though, and prices see the sort of 'correction' that house prices saw, who knows? But, the stock of predecimal coins is finite and getting smaller by the year.

A good collector base has always been very healthy for the hobby, with these new trends I kind of worry a little that the interest will drop of and investments take full hold. With a lack of interest a lack of knowledge may follow!?

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Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

For new collectors - especially the young without much money - the chance of getting good coins to start a collection, is less and less. Common coins are around in abundance though, so if youngsters stick to those, there's still hope. But upgrading to get good stock requires more and more outlay, which is great for existing collectors with decent coins, but I'd say the long-term outlook isn't that great for newbies.

If the current interest subsides though, and prices see the sort of 'correction' that house prices saw, who knows? But, the stock of predecimal coins is finite and getting smaller by the year.

A good collector base has always been very healthy for the hobby, with these new trends I kind of worry a little that the interest will drop of and investments take full hold. With a lack of interest a lack of knowledge may follow!?

Investment without knowledge would be a disaster ... for the investor.

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Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

For new collectors - especially the young without much money - the chance of getting good coins to start a collection, is less and less. Common coins are around in abundance though, so if youngsters stick to those, there's still hope. But upgrading to get good stock requires more and more outlay, which is great for existing collectors with decent coins, but I'd say the long-term outlook isn't that great for newbies.

If the current interest subsides though, and prices see the sort of 'correction' that house prices saw, who knows? But, the stock of predecimal coins is finite and getting smaller by the year.

A good collector base has always been very healthy for the hobby, with these new trends I kind of worry a little that the interest will drop of and investments take full hold. With a lack of interest a lack of knowledge may follow!?

Don't panic Capt. Mainwaring. Investment portfolios won't be too important in the overall scheme of things because in the main they rely on 3rd party guarantees. Just as investors in shares and bonds look to credit rating agencies for an assessment of the creditworthiness of the issuer, so investors typically require slabbed coins which will therefore not deteriorate with handling. Raw coins will continue to be the preserve of collectors. Some high grade pieces will be slabbed in the future, but not all, and some collectors will routinely remove them from the slab to fit the tray recess. So they will form part of the future slab material for a second or third time.

High grade material has been leaching from collectors' hands for centuries as various museums have taken their pick. From the end of the 18th century through to the first few decades of the 19th century, the BM was given the Cracherode and Sophia Banks collections and it bought the Roberts collection, whilst the Hunter Collection gave the museum in Glasgow its name. In the first half of the 20th century there were generous bequests by the likes of Weightman and Clarke-Thornhill. Marlborough pennies of William I are extremely rare because C E Blunt bought all the examples that came to market and donated them to Devizes Museum. He already had examples, so thought he was doing the public a favour. His collection went to the Ashmolean. Doh. Peck's collection of George III coins was taken by Birmingham Museum, so many varieties are no longer possible to collect being unique. History is littered with examples or even types that are lost to collectors, and in all practical senses to the public too because they aren't on permanent display, nor is an inventory of museum contents readily accessible.

A good example of things going round is Geoff's Tournai groat. It was bought as part of the Roberts purchase in 1810, but was released as an exchange sometime post 1915 after J P Morgan's son offered his father's collection to the BM and they acquired a better piece. It's a shame they don't continue this policy today.

On the plus side, things are continually being found. Offa pennies are coming out of the ground at the rate of a couple dozen every year. In Sept. 2006, Baldwin's had a sale entitled 100 Numismatic Rarities. I particularly wanted lot 5026 which was the 1644 Oxford shilling with the bust and XII reversed which had disappeared off the market since the Clarke-Thornhill sale in 1937 (obviously it had remained hidden in Baldwin's basement for 70 years), but on sale day I came second. The following year, a previously unrecorded example that was creased but a full grade higher was sold, also at Baldwins and went to the person who came third the previous year. The coin had been found in the US. We can rest assured that rarities and high grade examples will continue to be found and purchased by collectors. It's just that they will not be the previously best known examples in some instances. The world is unlikely to run out of lower grade material into the far future.

Edited by Rob

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Hi all,

Been having a few thoughts of late with regard to coin collecting as a hobby and what the future holds for it. My main things that have lead me to these thoughts are the growing interest in auction houses and the ever increasing premiums they now charge (20% + VAT in most cases) and the ongoing lack of stock the dealers seem to be getting hold of, is this a good or bad thing? I know the dealers are in it for the trade but some still do help the collector and give helpful advise to the starter, with this in mind I kind of think the hobby would be worse without the traditional coin dealer. Also what impact does the internet hold for the hobby..good or bad?

So just wondered what your thoughts could be on the future for a coin collector?

Well, there's an abundance of low and middle grade stock. It's the high end material which is becoming very difficult to locate, and when it actually is, one must often be prepared to dig very, very deep in order to obtain such decent items.

Undoubtedly prices for quality coins has risen very sharply this year. I can speak from first hand experience here, as I have gradually been assembling my bun penny collection. The intention was always to buy high grade material, and I set myself what I now realise was the absurd objective of obtaining every example in at least EF, up to and including (eventually), the much vaunted 1869. However, even since I started the bun collection in early 2010, I have noticed the high grade coins increasingly fetching far more than one might have hoped for (as a buyer) at auction, and dealers quoting higher asking prices for each one. Moreover, at the risk of becoming a crashing bore on the matter, I will again re-iterate that it is virtually impossible to even locate for sale some high grades within this bun penny sphere. As a consequence, actually buying them ~ even at a grossly inflated price ~ is out of the question since they are just not available. I would cite both types of 1864, the 1875H, as well as the 1877 and 1879 narrow date. Such high grade examples do exist, but they are hidden away in private collections, and unlikely to be put back on the market in a hurry.

Oddly enough, the rare 1860 beaded border, and the 1869, are not impossible to locate and buy in top grade.

As far as the remainder of your question is concerned, I would say that there most definitely is a solid future for numismatics, both for genuine collectors and investors. But I fear that we could see a two tier economy developing in this respect. Genuine, but not massively wealthy collectors/dealers hitting a glass ceiling when it comes to obtaining certain high end rarities, either because they are totally out of reach financially, or just not available, and wealthy speculators who are buying somewhat indiscriminately, in order to boost their precious metal holdings.

Incidentally, I hold most UK collectors and dealers close together in terms of overall motivation when it comes to coins, and this includes internet dealers. Many dealers are themselves collectors who hold a genuine interest in the hobby, as well as being a vast resource of technical knowledge on the subject.

When the US starts taking a serious interest in our holdings, we may see a rise in prices whch makes today's increases look like chicken feed in comparison. If you are a genuine collector for the long term, then now NOW, is the time to feverishly enrich your collection, ahead of a potential gold rush from across the pond. I hope I'm wrong.

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I would cite both types of 1864, the 1875H, as well as the 1877 and 1879 narrow date. Such high grade examples do exist, but they are hidden away in private collections, and unlikely to be put back on the market in a hurry.

I would say you might be looking in the wrong places for the 1875H Michael, and possibly your other missing bun series coins. I picked this one up recently, i would say its fairly high grade, now soaking in olive oil and not to be seen ever ever again lol

(Just kidding, it might reappear in 20 years when its worth a bit) :rolleyes:

post-5057-055537700 1319666006_thumb.jpg

post-5057-066440800 1319666012_thumb.jpg

Edited by azda

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And here's another i know of in high grade from another private collector, mine is 13 teeth, this one is 12.5 teeth

post-5057-027132000 1319666577_thumb.jpg

Edited by azda

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Obv of above coin

post-5057-073289700 1319666671_thumb.jpg

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I would say you might be looking in the wrong places for the 1875H Michael, and possibly your other missing bun series coins. I picked this one up recently, i would say its fairly high grade, now soaking in olive oil and not to be seen ever ever again lol

(Just kidding, it might reappear in 20 years when its worth a bit) :rolleyes:

Well there will always be exceptions here and there, and you were lucky, Dave. I also did say they existed in private collections.

If you'd now like to point me in the right direction of where to look for an UNC 1864 crosslet 4, I'm listening B)

Edited by 1949threepence

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I would say you might be looking in the wrong places for the 1875H Michael, and possibly your other missing bun series coins. I picked this one up recently, i would say its fairly high grade, now soaking in olive oil and not to be seen ever ever again lol

(Just kidding, it might reappear in 20 years when its worth a bit) :rolleyes:

Well there will always be exceptions here and there, and you were lucky, Dave. I also did say they existed in private collections.

If you'd now like to point me in the right direction of where to look for an UNC 1864 crosslet 4, I'm listening B)

I admit i was lucky, the only thing going against it was the Verd, but if you're patient enough (and with the internet at your fingertips) you will eventually find what you're looking for. I search world dealer sites, it does take a lot of your free time, but i have quite a few sites saved in my favourites and check back every month or so hoping they've refreshed their GB coins.

I'm also considering looking for rarer coins now instead of a particular series, maybe slotting in the odd bunhead here and there if the right one comes along. I'm also collecting a few for the little guy, so now have double the costs. I have my eye on one just now, not a bunhead, but silver milled and quite rare in grades of VF and above, this one is AEF, i will get back to you IF or even if not i get it.

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If you'd now like to point me in the right direction of where to look for an UNC 1864 crosslet 4, I'm listening B)

Oh that's easy. There's one on the moon - it was taken there in the B52 bomber that's also up there. :lol:

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If you'd now like to point me in the right direction of where to look for an UNC 1864 crosslet 4, I'm listening B)

Oh that's easy. There's one on the moon - it was taken there in the B52 bomber that's also up there. :lol:

Probably another one at the end of the rainbow, Peck ;)

It's keeping that BU 1926ME you were looking for, company........

Edited by 1949threepence

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If you'd now like to point me in the right direction of where to look for an UNC 1864 crosslet 4, I'm listening B)

Oh that's easy. There's one on the moon - it was taken there in the B52 bomber that's also up there. :lol:

Probably another one at the end of the rainbow, Peck ;)

It's keeping that BU 1926ME you were looking for, company........

NOW I know where to look - at the hen dentist :D

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I see Hen.co.uk has a lot of teeth for sale. :)

I managed to get a few George 1 1/4d's for a fraction of their worth..(Spink can fry themselves on pricing).

I recall a well known dealer selling a 1771 at Spink prices...24 hrs and he could of sold it 50 times....I was nr 43 or so. :(

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