Investors Come and Go, Hobbyists Remain
Collectors or Commodities? The Hobby Deserves Better Headlines.
There have been some glaring headlines recently. Among them are “Teacher's collection of over 130 ancient Roman coins auctions for over $1 million,” “Huge coin collection found hidden in house’s walls sells for nearly $3.5 million,” “Rare $2 [Australia] coins worth up to $350 amid huge spike in demand: Found one!” and “The penny is going away. Should you smash your piggy bank looking for rare ones?”
Such headlines have one thing in common—they all focus on being mercenary rather than being hobby-oriented. A major coin convention was once perhaps not so humorously referred to as the annual festival of greed. Collectible coins, especially those of the United States, are increasingly being viewed as commodities. Many people who might get involved with purchasing coins don’t necessarily view coins as objects to be enjoyed, but more as objects that can be equated solely to being something of potentially increasing value.
The hobby and the business of coins are both above all this, but from the headlines just quoted, it wouldn’t appear so. We walk a fine line—on one hand, everyone wants both the hobby and the business to expand. On the other hand, we have an image to uphold. Headlines such as those used as examples grab attention, with some of those who read them eventually entering coin collecting on a positive note as a byproduct. What everyone involved in the business and hobby of coins needs to keep in mind is our image and how we communicate that to the uninitiated public. Investors will come and go. Hobbyists will remain.
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