A FORECAST FOR Our Hobby
LOOKING FOR SOLUTIONS BEYOND 2019
By Thomas J. Bilotta
GETTYIMAGES
THE TREND MAY BE YOUR FRIEND, BUT IT HASN’T BEEN A GOOD FRIEND TO THE NUMISMATIC FIELD IN TERMS OF COLLECTOR RETENTION AND HOBBY EXPANSION. Collectors in the late 1990s, reeling from U.S. Mint continuity programs, could never have envisioned the 2019 graying of the industry and contraction of coin buyers on the Mint’s mailing list. For many years, the average age of coin collectors has been increasing. According to current estimates, it is now approximately 60 years. As a result, the level of participation in the hobby has not grown. There are some efforts and programs intended to encourage participation by younger collectors, but as of yet there is no strategy that appears likely to reverse this trend. Some have observed that the aging of the Baby Boom generation will increase participation in coin collecting and that the high average age is therefore not a problem. This is short-sighted thinking, as this will only delay and slow the decline. In order for coin collecting to have a bright future, it is necessary to understand why the hobby does not attract many younger participants and seek to off set these factors. Without a change in strategy, either through education or other industry initiatives, it is likely that the number of participants will remain approximately at today’s level until the point at which the infusion of Baby Boomers ends, at which time the hobby will likely decline. At some point, the decline will accelerate and become irreversible.
READ MORE
Purchase options below
Find the complete article and many more in this issue of
COINage Magazine
-
January 2019
If you own the issue,
Login to read the full article now.
Single Digital Issue January 2019
|
|
|
£4.99
|
|
|
This issue and other back issues are not included in a new COINage Magazine subscription. Subscriptions include the latest regular issue and new issues released during your subscription.
6 Month Digital Subscription
Only £
2.16 per issue
|
SAVE
57%
|
|
£12.99
|
|
|
Annual Digital Subscription
Only £
2.42 per issue
|
SAVE
52%
|
|
£28.99
|
|
|
Monthly Digital Subscription
Only £
3.99 per issue
|
SAVE
20%
|
|
£3.99
|
|
|
About COINage Magazine
COINage January 2019,
Secret Plans of the U.S Mint,
The Future of Gold,
Lucky Pennies,
Future Predictions,
And More.......