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CoinCollector7777's Blog

17 Apr 2021

Would Coins Be Worth Anything If Nobody Collected Them?

Coins | CoinCollector7777

Yesterday, I was on a Facetime call with my grandma and grandpa. My grandma thought that if nobody collected coins, then there wouldn't really be a value for collectible coins. We collectors only make them valuable. For example, if only two people collected coins, and they had all of the 1913 Liberty nickels, then they wouldn't sell them for a good price to each other because they were not in high demand. They would sell them for like a dollar. But since there are a lot of collectors that want them, and there is a low mintage of them, that makes the 1913 Liberty nickels rare. So if there were not any coin collectors, coins would only really be worth their melt value.
Thanks for reading!
P.S. My grandma had a Morgan and a Peace dollar, the Morgan a 1896 P dollar, and the Peace was I think a 1923. I was hoping that the 1896 had an S mintmark, but it didn't. It looked like it was in AU. (She sent me a picture.)

Comments

CoinHunter

Level 5

So true, imagine 70 years ago, you would be able to pull silver out of your change every day! And lots of it would be older. Nice blog!

Mal_ANA_YN

Level 4

Interesting perspectives.

user_79124

Level 2

Absolutely true

SilverToken

Level 3

Everything has a subjective value. Who here has actually held a BitCoin? All I know is actual coins and tokens have been used for centuries, some have become valueless, like confederate money. BUT- who doesn't want to hold history in their hand and think about where it's been, and the value comes back, whether it is emotional or monetary.

Kevin Leab

Level 4

Interesting blog. I never thought of that really....if there was no demand would there would still be the silver (melt) value. If not for the numismatic value they would just save them for the silver.

I think if coins were only worth their melt value and if there were only a few left, somebody would eventually start saving them. And once people start saving things, collecting isn't far off. That's how numismatics got started here in the U.S. after they stopped making large cents. People notice different or pretty coins in their pocket change and always will.

Golfer

Level 5

That is collecting for you. Times change. Any collectible changes value. Ups and downs. Coins like most things collected will drop in value if less people are interested in the object. Society dictates a lot also. A world on the decline will cause most areas of collecting to lose value.

Kepi

Level 6

What a cool Grandma you have! Great words of wisdom...makes sense for sure! ; )

Mike

Level 7

In today's world people collect everything and then we'll them.. As long as they can make a buck. If not coins ards. If not cards paintings. There is valid in what you like. That's the value

DaNumisMasta

Level 5

There is an old numismatic proverb I recall: "Your coin is only worth what others will pay for them". In this hobby, demand is the leading factor of value. Thanks for sharing!

Longstrider

Level 6

Your Grandma is a smart lady. Coins are only worth what two people are willing to bid or melt. That goes for anything really. Thanks and Hi Grandma!

"SUN"

Level 5

So true

I. R. Bama

Level 5

I think you are on to a truth here.

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