Publish date:

Jan. 08 E-Newsletter Response

Do you think investors and speculators are good for the hobby? Why or why not?

Well, are rats good when in your attic, crawl space or basement? Are both sugar and cream best for your coffee? Not being able to cut your hair nowadays increase your beauty or looks?

In short, investors and speculators add little to our hobby. The pages in Numismatic News report major collections and rarities being sold for six or seven figures. May I ask how many readers of Numismatic News and its compatriot competitor, Coin World, might afford to drop six or seven figures on a single coin or numismatic item?

Again, in short, investors and speculators are there for $$$$$, not the hobby. Their presence and pressure distracts from the enjoyment and fellowship that are our hobby’s greatest assets.

Decades ago, some of us at a local coin club meeting were discussing a like question. One of us mentioned that investing was something secondary or even less at one time; but, then in recent years it has come to dominate our hobby.

True, our hobby is universal and can share its appeal with many and with varied pursuits. Yet, for the majority, I believe the greatest assets endure: enjoyment and fellowship.

Michael S. Turrini
Vallejo, Calif.

No, I do not think they are good for the hobby because they take all they can get, raising the prices so they are insanely high, then sell the silver they collected for that high price, slowly lowering it.

Conner Hopfer
Address withheld

Investors and speculators will always be part of the hobby. Their participation may be good or detrimental. The important issue for an individual hobbyist is to determine his/her participation focus and stick to it.

Mike Farnsworth
Lebanon, Ore.