In my humble opinion

I?m not sure whether there are any valid arguments for or against the six points Augustus raised and, quite frankly, it really doesn?t matter one way or the other. Oh they are good talking points but are they really relevant? I would argue they are completely irrelevant.

First of all, change is the only thing that is constant in life. Just when we get comfortable and used to the way things are, they change. So in that context I offer the following for your consideration.

1)If coin collecting is to die, then it should die. I don?t think so as long as there are collectors willing to continue to breathe life into the hobby. What have you done to breath life into this venerable old hobby? I personally, can think of 4 different kids I meet just this year that have a love of coins and just didn?t know how to go about collecting other than just getting some loose change here or there. Two are my students; one is an 8 yr old son of a fellow teacher and on is my youngest of 4 sons. Apart from the people here, I cannot think of one person my age that seriously collects coins. Some members here have very generously sent me lower grade raw coins and even offered lower grade graded coins for these kids and I have added those to the coins I have given the kids. Coins and coin collecting are discussed daily in my classes and most of the kids are very interested even if not interested to the point of becoming collectors. If you really think this hobby is on its death bed, ask yourself what you have done to breathe a little life into it lately.

2)Will currency be phased out? Maybe or maybe not but why is that important to collecting. Lots of currencies and coinage has been phased out through history. From the best I can tell people are still collecting it.

3)Counterfeiting is probably the most serious of all the concerns for the hobby. Education is the best defense. Yes, the informed collector from time to time will get burnt if they are not careful. More likely, the uninformed collector will be the unwitting victim of such scams. Sadly, counterfeiting will always be a problem with anything of perceived value. Counterfeiters will thrive wherever there is a quick buck to be made from art to apparel.

4)See point #2.

5)Some people pay big premiums but I am forced to ask myself are those coin collectors or investors. I am a collector on an extremely limited budget. I can promise you there is no coin I absolutely have to have in my collection. We are talking about the ?hobby? of collecting. If someone wants to invest via the avenue of coins, why should there be any less risk than other avenues of investment.

6)Does anything really have intrinsic value? Intrinsic value is an abstract concept at best, defined on a very individual basis. I saw a TV show the other day where a couple of guys were collecting meteorite fragments. Every time they picked one up a value for the size of the fragment flashed across the screen. I sure don?t see an intrinsic value in meteorite fragments but somebody sure does from the way those dollar signs kept ringing up. Please do not confuse intrinsic value with a dollar sign. If you see dollars signs are you a collector or an investor?

Oh well, I?ve rambled long enough so I guess I?ll just file this one in the ?for what it is worth? folder.