Wouldnt we benefit if more people became coin collectors?

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Wouldn't we benefit if more people became coin collectors?

As a coin roll hunter, I am always afraid that someone else is getting all the silver halves out there, but today I had a thought. Wouldn't we all benefit if more people collected coins? If there were, there would be more demand and we could get a higher price for the coins we do have. Of course there would be more people removing silver halves from circulation. But I think the benefits outweigh the disadvantages. Your thoughts?

 

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[GMan00001]

Re: Wouldn't we benefit if more people became coin collectors?

Yes, I believe we would benefit greatly from more people becoming coin collectors. Don't forget, not all collectors search for coins at face value through CRH. In fact many just go to the coin shops/coin shows/flea markets/etc. and buy them as they either don't have the time, don't enjoy the searching part the same (i.e. their thrill of the hunt is finding the coin they want at a good price), or they are after coins that you just won't find in circulation such as large cents, etc.

Also, people who search coins purely for the metal content are not necessarily coin collectors. Some are, but others are just treasure hunters, in it in hopes of a profit.

Myself, I am a coin collector. If I make a profit great, but if I don't that's fine too as I am doing it because I enjoy it.

 

[Tabfry]

Re: Wouldn't we benefit if more people became coin collectors?

I agree, having more collectors could raise the demand, hence, raise the value. However, how many people are collecting those silly state quarters? Will their value raise due to the demand? I wouldn't mind others getting into the hobby of CRH'ing... just let me get my share first!

 

[fiatboy]

Re: Wouldn't we benefit if more people became coin collectors?

Great question! I've spent an unhealthy amount of time thinking about this question since I started collecting/hunting, and I can't come to a sure-fire conclusion. If the number of silver hunters were to triple, I think their impact on the price of silver would be negligible. But I guess when push comes to shove, I say the more the merrier. Let the money roll!

Great post. I'm curious to see what others think about this.

 

[fiatboy]

Re: Wouldn't we benefit if more people became coin collectors?

Remember the bicentennials? Who didn't put some back? Those things were hoarded like no other. And today they're worth face. Demand didn't even come close to affecting their value. Too many were struck. I think the state quarters will fare slightly better, but not by much. Again, too many have been struck.

 

[scotto]

Re: Wouldn't we benefit if more people became coin collectors?

I may grab all the silver I can, but I also collect too. I get a kick out of finding errors and NIFC just as much (if not more) than silver. I collect the state quarters just to have a full set, same with the Westward Journey Nickel series. And same deal with the new presidential dollars. I've heard that while a lot of people started saving the new dollars, interest may be waning. Not sure how accurate that is though.

 

[Emperor Findus Cladius]

Re: Wouldn't we benefit if more people became coin collectors?

Ditto on the above. While I may hoard EVERY piece of silver I find, I also have a book for the walker, benjamin and kennedy series, and when I find one in really nice condition, silver or not, I look to see if I have it or if it is in better condition than the one I already have. My silver finds have been earmarked for one thing and one thing only, to go towards the purchase of a 1916 SLQ as I am in the process of collecting that complete series.

 

[coolcash2004]

Re: Wouldn't we benefit if more people became coin collectors?

REMEMBER!!!

SILVER will never run out in circulation. Never. If people break open proof sets and spend the coins, they will spend the walking liberty half grandpa gave them to save.

-CC

 

[fiatboy]

Re: Wouldn't we benefit if more people became coin collectors?

I've heard that while a lot of people started saving the new dollars, interest may be waning. Not sure how accurate that is though.

I don't know what the market was like when the Sacs first came out, but there's at least someone everyday who stops by my coin shop to buy the new Prez dollars or coin folders for them.