Is Coin Collecting Dying or Thriving? If you love history, economics, or art or appreciate the beauty of coins, you will probably enjoy coin collecting. However, you might have questions about how to get started and whether it is still worth doing.
After all, the hobby has been around for thousands of years. Where there’s so much competition in a market with nothing new to offer, there must be something wrong with the product being sold — right? So the question people asking is coin collecting a dying hobby? Let’s take a look and dive right into this article!
Is Coin Collecting Dying or Thriving?
Coin Collecting is Still Evolving
The popularity of coin collecting has changed throughout the years, but it is still a popular hobby today. Coin collecting has always been a way to learn about history and has also become a way to make money.
However, collecting coins can be a fun hobby that teaches you about the world around you. Despite its decrease in popularity, coin collecting is still an excellent hobby for those interested. It may not be as popular as it used to be, but it’s still alive and kicking. So the term coin collecting is a dying hobby wrong.
Availability of Coins
With the advent of online marketplaces like Amazon, eBay, and Coin Dedicated Websites, finding coins has never been easier. While many collectors lament the rise of the online market, it’s undeniable that more old and rare coins are now available than ever before.
It doesn’t take long for someone to list a coin on one of these sites – perhaps just a few minutes in some cases – so even if you’re not seeing what you need at first glance, make sure to look around every once in a while because your dream coin may be listed later today!
While the Internet has made coin collecting more convenient, digital transactions have driven down the number of coins in circulation. This is a problem for both casual and serious collectors alike. There are fewer coins for casual collectors to find on streets and sidewalks. There aren’t as many coins worth collecting available for serious collectors. However, this isn’t true of all coin types; it’s just a fact that people use coins less and less in our increasingly cashless society.
Coins Become Rare Commodities And Raised Their Value
Nowadays, most purchases are made through electronic transactions. This makes coins and paper money rare commodities. Consider this example: in the ’50s, paying your bills with coins or paper cash was normal. Only after the decade passed did people begin using credit cards for transactions.
These payment modes slowly became less frequent as cashless payments were introduced through debit cards and online banking services. We’re at the point where you can virtually manage your finances without using any physical currency.
Popular Series of Coins
In the United States, there are many different types of coin collectors. Some of the most popular coins that inspire interest among coin collectors today include State Quarters, Silver coins; Penny Hoarders; Gold coins, International Coins, Rare Coins, and Foreign coins. While these may be some of the most common types of coin collecting, there are also rare gold and silver coins from the US Mint, British Mint, and Canadian Royal Mints.
Surge In Numismatic Education
There’s also a surge in numismatic education about the history and value of older coins. Coin collecting is a relatively simple hobby that many people can enjoy, regardless of age or gender. There are several ways to learn more about coin collecting, including online resources and local numismatic groups. The more you know about coin collecting and how coins are graded, the better equipped you’ll be to make the most of your collection (or start one up).
It’s also worth noting that there’s been an increase in numismatic education material in recent years. We may be living in an increasingly digital world, but there are still tons of books on coins. These books can help teach you how to grade coins and give you pointers on where to look for them and which types would best suit your collection. Some even come with little starter sets, so it’s easy for beginners!
10 Reasons Why Coin Collecting is Not Dying Anytime Soon!
Low Entry Barrier
Getting started with coin collecting is very easy, so it’s a good hobby for kids and young adults. There aren’t any requirements to start collecting coins. You can start with just one coin or buy an entire set of coins from the United States Mint, including all of the state quarters released in a particular year.
The nice thing about starting with a complete set is seeing how all the different designs look together and comparing them side-by-side. You can start collecting coins on any budget—you don’t have to spend hundreds or thousands of dollars on rare coins, though you certainly could if you had the money (and desire) to do so!
This Hobby isn’t Only For Old People
Coin collecting is not just for older people. Young collectors are attracted to the hobby because it’s accessible and available. Anyone can collect coins from any country and time, whether ancient Roman coins or modern US quarters. There are no limits on what type of coin you can collect or how many (though some might be more difficult to find than others). It’s a hobby for everyone; a coin doesn’t care who owns it.
It is An Opportunity to Make Money
It is an opportunity to make money. Let’s face it; numismatics is a business! You can make money if you get good at buying and selling coins. You can buy coins at a reasonable price and sell them at a higher price. You could become a dealer and earn commissions on selling other people’s coins. Or you could sell on eBay and make a profit (though the fees will eat into your profits).
You may not be able to retire from coin collecting fully, but it could bring in some decent side income with enough work. Don’t expect this to happen overnight or even for one year. Be patient as you learn about the hobby through collecting before making money from selling coins online or in person!
Look at the Internet and Social Media
If you’re asking yourself, is coin collecting dead, and if you’re also saying that you don’t know where to find other coin collectors, I have a question: Have you heard about the Internet? We live in an incredible time for people who want to connect with others who share their interests.
Coin collecting has a solid presence on Facebook, Twitter, YouTube, Instagram, etc. Thousands of people post daily about the coins they’ve been finding, the coins they wish they had found, and their thoughts on certain coins or mints. So if you’re interested in learning more about coin collecting or meeting other collectors, search online and get involved!
Coin Collecting is An Extension of Other Collecting Hobbies
Coin collecting is an extension of other hobbies like stamps and baseball cards. These collectors usually want to diversify their collections with a tangible investment with a solid track record.
People who love history or are interested in the history of money often begin small collections of coins from different cultures and periods. This keeps the hobby alive by giving it a new dimension beyond investing invaluable pieces. Furthermore, coin collecting is perfect for people who like to collect unusual objects. The more unique or rare the object, the more it is worth!
There is No Scarcity of Coins to Collect
You might think that the scope for collecting is narrow, but there’s a lot of variety. Coins are made from precious metals, such as gold and silver, or their less expensive base metal cousins. They can be struck by one of more than 100 mints around the world. Many coins are circulated today, while others have been retired to history books. Mints have also struck commemorative coins featuring everything from famous sports stars to dogs and cats!
Lack of Seasonality
It’s not a seasonal hobby. Whether it’s a blazing hot day or a frigid cold one, you can be inside (or in your car) and engaged in your coin collecting. There is no need to wrap up warmly before focusing on your coins.
You don’t have to worry about the weather keeping you from reviewing your new finds or inspecting the coins you already own (and are thinking of selling). And if by some chance you’re snowed in, there are probably some coins around the house that you can add to your collection without ever leaving home!
It is a Hard Hobby to Give Up
As a coin collector, it’s hard to let go of the hobby you have become so attached to as a coin collector.
The hobby is addictive, and it’s difficult to stop collecting because you have an emotional attachment to your collection. Coins come from different parts of the world and are made by different people at different periods, making them unique for you. It’s part of your life, and you can’t imagine living without it.
The Internet Makes It Even Easier!
The Internet has also made coin collecting more appealing because many more options are available at your fingertips. You used to have to travel far and wide to find a variety of coins with different designs. Now, you can browse different dealers and sellers online from the comfort of your own home!
Additionally, you can reach out to other coin collectors worldwide via online forums or social media groups. Not only will you be able to learn about different coins that people collect, but you’ll likely find some that are near and dear to your heart as well! The Internet also makes it easy for beginners to research coins for their value and other ones available for purchase.
Large Community of Coin Collectors
If you love coin collecting, you’re not alone. Many people enjoy the hobby, and there are many ways to find them! In addition, coin collectors have created online and local communities to connect with other coin lovers.
Numerous blogs about coin collecting are written by people who share your interest. On top of that, if you look around social media channels such as Twitter, Instagram, or Facebook, you can find loads of other coin collectors to follow or even chat with! If you don’t want to use social media or a blog site to connect with other collectors, there are plenty of forums specifically for this purpose.
I hope I have given a satisfactory answer to is coin collecting dying or thriving. In the end, coin collecting is still a widely practiced hobby. Newer, more modern forms of collecting are emerging to meet the changing times, but long-time collectors continue to buy and trade coins in traditional ways.
Before you go…
Coin collecting is a fun and rewarding hobby for anyone interested in history or with a penchant for rare trinkets. If you’re interested in trying this pastime, consider checking out your local coin shop or doing some online research to find out how best to embark on your collection pursuits.
Check out my next article: “Coin Collecting Benefits For Kids.“