This Is What's Hurting Coin Collecting Hobby! Numismatics Is Being Ruined!

do you want to know what's killing the coin collecting hobby and has been for a long time stay tuned and I'm going to tell you [Music] my name is Daniel and you were watching coin helped you thanks for watching my latest video I am a coin dealer I watched this market I live this market I investigate I look at values I go to coin shows I ask questions and I observe and I from that and from years of being in this business actually since I was a little kid I am going to explain to you as best I can what I feel has happened to this coin collecting hobby and why it is suddenly starting to lose its steam I am going to address the huge white elephant sitting in the middle of room that nobody wants to address and before I do that I know what capitalism is for all you who want to comment this is capitalism you know I have the right to start a business and make as much money as I want I have a right to say what I want to say our free speech okay but that is not an unbound or unlimited right okay I can't just go up to someone and start cussing them out that's inappropriate it's not right okay I can't go and rip people off that's not capitalism okay that's not what capitalism is all about when you fraudulently sell or overprice things to people who don't know any better about coin prices you are taking advantage of your right to be involved in our capitalist environment when you misrepresent coins like you see on ebay on etsy to make a profit or to sell them for more money it's not what capitalism is about that's not what it's for okay and I get it it's marketing but it's marketing at its worst not at its finest that is a fact so I want to move on past that I don't want to hear comments about capitalism I get it I know that's what it is I know all about that what I'm talking about is what's killing this hobby okay and it all starts with the United States Mint the United States Mint is the largest coin dealer in the United States and probably the world especially because they send the boy into all these companies that buy it okay they do the goal of the silver and they store these products you know recently 2019 they've tried to do things to help promote the Hobby like you know release in the 2019 w's order of which I am a big fan of its in circulation of the ones that are going to be worth the most are the ones that don't have the marks and the circulation on them and you know I think that's a better thing to do than to release stuff like this an over price it you know this is the Canadian silver maple and the Silver Eagle enhanced Proof Set this set came out and basically is $140 and you can't get it without the shipping for less than $147 okay that is overpriced it should never be over the hundred dollar mark in the first place and this is going to drop and valued it didn't even sell out it may have already now but it took a long time but basically a hundred thousand plus ten thousand for the Canadian version so 110 thousand of them if you can't sell that out then you know there's something wrong that needs to stop okay that is something that is hurting the Hobby I know people who've come in this shop who are the baby boomers everybody blames or everybody says it's dying off and causing the Hobby to die I do not agree with that but we'll get in that in a second but we're talking about people who walk in and say they stopped ordering from the mint because of that they stop order for the mint because it was too confusing they couldn't keep up with all the products but mint pumping out and the prices were crazy and then the prices would drop they own proof sets mint sets they can't get their money out of because they've dropped so bad now as far as blaming the Millennials how can you blame the Millennials when there's plenty of Generation X there's plenty of baby boomers still alive that don't collect they don't have no interest in the Hobby whatsoever whether they don't have extra money or the economy is really bad or the job markets more stagnant than what we're hearing I don't know but it's Fannie Mae and Mack 2008 we can talk about that what about 9/11 how when that happened things changed I mean it's nothing like the 90s but the market has been flooded with junk people walk in thinking this was released by the US Mint you know it wasn't really about the US but this is a counterfeit put together to sell coins that are common circulated often cleaned for a large amount of money I mean we're talking I set like this they probably charged 29.95 or 49.95 it's ridiculous this is what her snobby people you know you can't take advantage of your right to make as much money as you want there are plenty of dealers like at max modern coin mark you know I can name them SD bullion they are legitimate businesses that are thriving in a capitalist environment okay capitalism at its finest and they're not ripping people off sure they're kind of high I mean they're retail but but they're not fraudulent they're not coming up with marketing schemes and talking about how its released from the vault and especially for you and got your name on it in a special box and you know pumping it all up like it's going to be worth a bunch of money in the future you know I have a friend a 87 year old and an 85 year old couple come in one's a schoolteacher very educated people here one of them was a pastor of my church okay and assistant pastor and these two are very intelligent they're very wise but they wanted to buy an ounce of gold so they called up this ad that was in the back of one of the veterans magazines that he reads and he gets in the mail and said I want to buy an ounce of gold well they talked him all the way down to $10 fourth ounce because it was signed by Michael Reagan and a PCGS holder graded proof DCAM 70 and basically charging 16 hundred and fifty dollars he will never get that kind of money out of that coin he just won't and you know the sad thing is is that he was floored that he got ripped off he could not believe it and I couldn't believe it it was heartbreaking to know this and they were so appreciative that we told him before they bought more of them and you know that's what I'm talking about these companies are taking advantage they're using their sells team in our marketing you know it's one thing to do that to sell something it's another thing to over sell something to sell it for too much money that's what's wrong with this hobby and I'm not just picking on HSN or the u.s. man you know we've got the National collectors man not government that's another one I mean what I'm saying is is they use tactics that make it sound like you're getting something special you're not getting something special and they over price it package it up so it looks like it's coming from the event don't even hire former met employees to make themselves look more legit and they're pumping and dumping and pumping and dumping this stuff into the market it's killing it so you can blame the Millennials all they want because I'm not interested what about all these companies that created the cellphones like Apple and the Android phone with all these apps and all these video games Microsoft that created these distractions to keep kids from not even wanting to collect there's nothing in them to foster collecting they don't want to collect they want to play video games what have their phone in their hands so there's a problem whenever you can't get people involved in coin collecting and then expect it to thrive and then blame a certain generation you can't do that you know when I was in my 20s I wasn't involved in coin seriously not in my early 20s not my late teens I was out you know chasing girls are partying or whatever I mean I've said that before or in a previous video what I'm trying to say is is that there's more of an issue here and it's greed okay it's just the bottom line of it is this greed whenever you think because you're pumping millions of dollars of coin dollar you're in the red book or because you're a well-known name in the business that you have the right to charge whatever you want because you think your coins are worth more that is wrong that is what's going on with the Hobby and it needs to stop it I mean prices are coming down I don't you can look at you look at the trends I can see it I've watched the grace she dropped the last two three years I watched the values all across the board or pieces yes drop it's happening there's a lot of correction going on even with gold and silver up you know we're not people aren't pounding on our door to sell to us because they pay too much in the past they still are buried in it that's what's wrong with this Hoppy's everybody wants all the money and all the money is killing the Hobby you don't care that these companies that they're all out on our own little islands and all they care about is their bottom line okay and I get that that's okay to a point but there has to be some way to come together to try to get this Hobby back to bring it back to the younger generation to bring it back to the middle-age to make it interesting to people so that it's something that you actually not just something some people do or they do because I don't understand it because they're so confusing and so expensive you know I that's what's killing all be it just plain as simple it is that the big white elephant a rim is greed okay and then the second problem is distraction we've created things that just distract kids from even wanting to be outside they don't it's just different okay well we've made it so difficult and so complicated and I'm not saying all of us have and I'm talking about people who really need seem to want all the money and want to make all the money yeah so anyways I just wanted to air basically my opinion based on a lot of facts you can disagree with me if you like that's fine you know I'm trying to address something that needs to be fixed it needs to be changed this kind of stuff that I have here all this I get all this and not just in the mail from certainly people bringing in the shop but you've got these overpriced companies and like the US Mint is another one I mean just like I said it needs to stop there needs to be something to happen something has to be fixed that's come up with other ways of doing things so that the Hobby is growing and not dying so thanks for watching my latest video please like share combat and have a great day

Channel: CoinHELPu

Views: 102,496

Rating: 4.8574071 out of 5

Keywords: This Is What's Killing Coin Collecting Hobby, coin collecting is dead, coin collecting, numismatics coins, numismatics meaning, numismatics wow, numismatics channel, This Is Whats Killing Coin Collecting Hobby, coin collecting for beginners, coin collecting 101, coin collecting fun, coin collecting tips, greed in coin collection, bad coin dealers near me, coin collecting (collection activity), coin collector, how to collect coins, coin collecting advice

Id: _ZsvbOq__bg

Length: 10min 21sec (621 seconds)

Published: Thu Sep 12 2019