Both the business and hobby of coins are both changing. Coin collecting simply isn’t your grandfather’s collecting anymore. Fortunately for the future, the hobby and the business are changing with the times, this being something not all other collectible fields are doing. Two speakers at the recent New York International Numismatic Convention likely didn’t realize that their presentations dovetailed, illustrating not only where the hobby has come from, but where it is going.
On January 13 Dr. Ursula Kampmann presented a talk titled “The Evolution of the German Coin Market after 1970.” Kampmann is the director of CoinsWeekly.com.
Kampmann’s presentation was meant to follow the evolution of the market for coins in Germany throughout the past century, but much of what she spoke of is also true of what has been happening to the balance of the market worldwide. In her presentation Kampmann followed the technological changes that have been adopted by the market for selling coins. She also illustrated the increasing co-operation among rather than competition between coin dealers.
During the mid-20th century, it was not unusual for coin collectors to do business with one or two coin dealers, who in turn guarded the names of these clients. Collectors often visited retail coin stores for their collecting needs. The expansion of the coin show changed this, with an exchange between a growing number of collectors with a growing number of dealers. At this time anyone who purchased coins by mail did so from fixed price lists that were seldom illustrated.
As coin shows became more popular so did the number of numismatic auctions. Auction catalogs were increasingly illustrated and well described. In time dealers began to work together. Kampmann gave the example of Triton auctions, which were conducted by three companies working together; and The New York Sale consisting of Münzen und Medaillen, Italo Vecchi, and Baldwin’s.
Today collectors can make acquisitions safely using the Internet, in some cases being able to scan multiple auctions at once when seeking a particular coin. Kampmann said it was Sixbid who had this idea very early. All others since are good but imitate Sixbid.
Sixbids offers the opportunity to view and bid on lots from many of the large numismatic auction houses. Numisbids.com offers a similar platform.
Kampmann explained how large non-numismatic companies have been expanding into the hobby, using the acquisition of Numismatic Guaranty Corporation and its parent company Certified Collectibles Group by Blackstone Incorporated and acquisition of Collectors Universe Incorporated by Nat Turner and others as examples.
Kampmann also reviewed the transition from hard copy publishing to online information being made available to coin collectors. She cautioned there is need to keep collectors engaged in coin collecting since collectors don’t stop collecting. Collectors will continue to collect—something. She also addressed the expansion of the hobby
