Coin and Stamp Hobbies Diverge
It’s a shame to see a fellow hobby in decline that was once seen as being a brother to numismatics, but unfortunately, the differences are glaring.
Bill Gross, founder of investment management company PIMCO and well-known bond investor, was preparing to sell his stamp collection for an estimated $15 million to $20 million at the time this commentary was being written. He was recently quoted by the Financial Times as saying the stamp market is used to having a “fundamental base of kids. That doesn’t exist anymore.” Gross said for that reason he is expecting a correction in the stamp market.
Coin collecting appears to continue in the opposite direction, with no correction due to a lack of youth being in sight. There are Young Numismatist meetings and clubs. Shows and clubs continue to be well attended not only by adults but by children accompanying those adults. We are always one generation away from seeing coin collecting fade away – but, unlike philately, we don’t appear to be having any such problem, nor will we.
The U.S. Mint just released its uncirculated 2024 gold American Eagle 1-ounce coins with a maximum mintage of 13,000 pieces. This was quickly followed by the proof 2024 American Buffalo 1-ounce gold coins. Both sold briskly.
Costco continues to sell precious metal coins and bullion. Costco CFO Richard Galanti said their supply typically sells out “within hours.” Analysts have estimated that the company sells somewhere around $200 million of these products monthly. These are sales to the general public, including young people who may enter the coin collecting hobby due to their exposure to these items.
It’s a shame to see a fellow hobby in decline that was once seen as being a brother to numismatics, but the differences are glaring. Coin collecting continues to have a bright and shiny future, just as have some of the spectacular proof and brilliant uncirculated coins to be collected.
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