Why have coins never realised their full potential

[copper123]

I was watching the programme last night on christies art auctions and I suddenly realised that while collecting both coins and art has been around for hundreds of years (some would argue thousands), coins as a collectable have never really reached the masses (here) or sparked the attention of the majority.

I appreciate that the image of coin collecting has never been of anyone lets say young and hip , in fact the oposite is true , its more of a rarther strange 65 year oldwith long hair and a beard  in a weird rain coat clutching a magnifying glass,  not all are like that obviously but thats the image people have .

Why can art attract the masses and coins just never spark interest , just two paintings in that programme last night would have bought the whole of the stock from all of the dealers at the next upcoming birmingham coin fair yet thirty years ago you would have got 30 pictures for the same coins .

Maybe it will always remain so from now on and coin collectors will always be seen as strange , I don't know .

The model used in the USA seems to have produced a much healthier market and collectors are more accepted with many more message boards /forums /coin clubs even though the states is a massive place .

I wonder if we followed their example it might change the market here - I doubt it but it might

 

[azda]

There is one massive difference with art than there is with coins, art is always unique, it's a one off picture which won't be painted again, whereas coins have a mintage...Coins can be minted in seconds whereas a work of art can take weeks or months to produce....Different kettle of fish entirely

[Sword]

I love art and like to visit galleries when on holiday.

There are quite a few obvious reasons why the general public are more interested in art than coins.

1) Paintings can be hung up and admired by all. A nice painting in a home can be a nice talking point. Coins need to be handled a lot more carefully and need gloves etc unless slabbed.

2) Paintings are larger. They can decorate rooms.

3) Each painting is unique. Coins are not. Rare coin varieties are often not very visually appealing.

3) Anyone can give an opinion on a painting without specialist knowledge. 

4) People study art and art history in schools and colleges. Owing works by well known artists give you "social status". 

5) There is a lot more history associated with art than coins.

 

[1949threepence]

8 hours ago, copper123 said:

I was watching the programme last night on christies art auctions and I suddenly realised that while collecting both coins and art has been around for hundreds of years (some would argue thousands), coins as a collectable have never really reached the masses (here) or sparked the attention of the majority.

I appreciate that the image of coin collecting has never been of anyone lets say young and hip , in fact the oposite is true , its more of a rarther strange 65 year oldwith long hair and a beard  in a weird rain coat clutching a magnifying glass,  not all are like that obviously but thats the image people have .

Why can art attract the masses and coins just never spark interest , just two paintings in that programme last night would have bought the whole of the stock from all of the dealers at the next upcoming birmingham coin fair yet thirty years ago you would have got 30 pictures for the same coins .

Maybe it will always remain so from now on and coin collectors will always be seen as strange , I don't know .

The model used in the USA seems to have produced a much healthier market and collectors are more accepted with many more message boards /forums /coin clubs even though the states is a massive place .

I wonder if we followed their example it might change the market here - I doubt it but it might

 

I don't think art has ever really reached the masses either, in the sense of them owning a valauble work of art, as the sort of pictures sold at Christies, is way out of the ordinary bod's league. Let's be honest it's also way out of our league as well. That said, I agree with all the reasons stated above as to why paintings are considered more desirable to look at, by the majority.

I do concur that the collective pre-conceived image of the average coin collector in this country, is indeed of somewhat eccentric retired gentlemen, dressed in clothing redolent of a more genteel era, which might be offputting to some, especially in the younger age group. That's a pity, because if it really did take off in the UK, it could be huge, given our heritage formed over many centuries. I also agree that the image in the USA is totally different. There it is just accepted as a mainstream hobby which might potentially turn a profit.       

[Paulus]

The question for me is more why US collectors haven't been paying the sort of prices for choice 'historic' English coins that they would pay for arguably less ""historic"" US coins - they have a strong connection after all. I suspect it may come one day ...

[Rob]

The US interest is probably pro-rata to the number of slabbed items. Many US coins in high grade are slabbed because the market dictates it. The bulk of British coins are not slabbed and so many Americans will not take the 'risk' of buying an unslabbed coin. Long may it stay that way, as it keeps decent quality at an affordable level.

Another consideration is that Americans are collecting their own coins, but the market is just as healthy over there for Spanish American or other regions on account of their diverse immigrant populations. Relatively few are of British ancestry, and even that is ignored to be divided into English, Scottish, Welsh and Irish from conversations I have had in the past.

[scott]

the US too busy wasting money on the million Varieties of coins.. or as well call them.. die cracks.. or mint erros.

[copper123]

Oscar wilde "All art is useless"

Coins are never useless

[Sword]

Oscar Wilde also said " One should either be a work of art or wear a work of art. "

Seriously though, I think coins that have good designs / fine engravings are more desirable and sell for considerably more.

E.g. the Gothic Crown surely shouldn't cost so much given it's mintage. But it is considered as one of the most attractive milled coins.

Would the petition crown be worth so much if the design and engraving are not so fantastic and lettering is missing from the edge?

[copper123]

The funny think is art is where you see it, that 150 year old watercolour by an unknown victorian artist might only fetch £200 because there are loads of them  around , also pottery , you cannot say that the wedgewood potteries don't produce a classy and affordable product that most people could afford to stash away in a cabinet somewhere at home , likewise the arts and crafts movement and art deco have both provided the masses with stylish items that are not out of anyones budgets , they might be mass manufactured but are ever popular with collectors .

 

Edited November 21, 2016 by copper123

[youliveyoulean]

Interesting topic, one I often ponder.

If you go by how attractive a coin is to look at, then the market is doing exactly as expected and switching to modern proofs with superior minting techniques.

Rarity of a coin tends to make it more attractive to most (a bit like art) and unfortunately most people have no idea how scarce most coins are.

Finally, bigger coins such as crowns tend to be more popular as you can view them easily with the naked eye and have some appreciation of the condition.

[RLC35]

On 11/20/2016 at 6:40 PM, Rob said:

The US interest is probably pro-rata to the number of slabbed items. Many US coins in high grade are slabbed because the market dictates it. The bulk of British coins are not slabbed and so many Americans will not take the 'risk' of buying an unslabbed coin. Long may it stay that way, as it keeps decent quality at an affordable level.

Another consideration is that Americans are collecting their own coins, but the market is just as healthy over there for Spanish American or other regions on account of their diverse immigrant populations. Relatively few are of British ancestry, and even that is ignored to be divided into English, Scottish, Welsh and Irish from conversations I have had in the past.

 

British Ancestry in the USA.......Averages about 15%

 

[1949threepence]

6 hours ago, RLC35 said:

 

British Ancestry in the USA.......Averages about 15%

 

Interesting. Particularly high density of British heritage in Utah & Idaho, Bob.

 

 

[azda]

17 minutes ago, 1949threepence said:

Interesting. Particularly high density of British heritage in Utah & Idaho, Bob.

 

 

and around 99.99% of those 15% are related to William Wallace  Geez, even Trump is Scottish 

Edited November 27, 2016 by azda

[RLC35]

1 hour ago, 1949threepence said:

Interesting. Particularly high density of British heritage in Utah & Idaho, Bob.

 

 

 

I don't understand Utah and Idaho either 1849. The only thing though, is that both states as geographically big as they are... are sparsely populated. Idaho has 1.5 million people, and Utah has 3 million. Metro Chicagoland has more population than both of them put together. 

[RLC35]

17 hours ago, azda said:

and around 99.99% of those 15% are related to William Wallace  Geez, even Trump is Scottish 

And don't forget Jay Leno Dave...his Mother is from Scotland! 

[azda]

18 hours ago, RLC35 said:

And don't forget Jay Leno Dave...his Mother is from Scotland! 

Didn't know that

[Coinbuyer555]

people think coins are boring, which of course they are not.

[copper123]

Of course if the world goes on as things have gone on over the last 500 years there will be an infinate ammount of art produced so its a fact the human race will have more and more art as painters etc and born live and die , in fact everyone will drown in works of art while coins just become rarer and rarer year on year .

"Funny old world ain't it" (these are the last words of a guy in north wales as he bought a packet of paracetamol and a pint of whiskey and went on to  commit suicide.

[Unwilling Numismatist]

This topic has certainly made me think.

Thanks

 

[UPINSMOKE]

16 minutes ago, Unwilling Numismatist said:

This topic has certainly made me think.

Thanks

 

Didn't you think before then 

[Unwilling Numismatist]

No, normally I just bid, lose and find out it was you

 

All will (maybe) become clearer eventually !