From the Jan. 4 Numismatic News E-Newsletter:
Do collectors prefer to buy award-winning coins?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
The real collectors like real nice coins at reasonable prices to add to their collections. Today, we have too many investors that push the prices of many coins out of sight for the real collectors.
Many of us are getting older, and not many young collectors are interested in our hobby. Our club only has one young collector, and he may only make our meetings about four times a year or less.
If we do not get the investors out, we are doomed. They only jack up the prices of all the coins and buy all of the Mint’s issues so fast that real collectors have no chance to buy anything online or by phone. If we do not get them out, our numismatics hobby as we know it is dead.
I have been collecting coins since I was a Boy Scout 65+ years ago.
By award-winning, I am not certain of your meaning, but high-end coins do have value, eye appeal, rarity, collector interest, and collector demand.
I just wish I had been born rich – so many coins but so little time.
I suppose there are some who do indeed seek award-winning coins, whether due to design or pedigree. Coins from award-winning collections I would think are also interesting for those with deeper pockets than mine.
I am speculating that many people do like award-winning coins. However, to say they prefer them may be going a bit strong.
My own purchases are governed by budget and what I like rather than someone else’s opinion. I have gotten bored with modern U.S. coins and have ventured into collecting ancient and primitive monies. Yes, I still keep up my sets of modern coins and purchase the annual coin sets, but that is not a priority.
Most of us collectors have budget limits, and award-winning coins are often more pricey than our budgets permit. If I have a choice of spending $50 on an award-winning coin or a piece of primitive money, I will go with the primitive unless the award-winning coin really appeals to me.
This is very interesting. Many “coins” for sale are not award-winning. This may be just an opinion, but I may not be the only one. I will say caution to the wind. Many coins of the past may be worth a premium price, but others are not. Choose wisely is a recommendation. This has been advised by many, including financial advisers and dealers alike. Even calling those at NN may be (usually are) a good source for an opinion before making a coin-buying decision.
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