Another year has just about 'bit the dust'. Funny how they seem to pass so much faster as you age. The holiday season is upon us. Our shopping and holiday events have been hindered by extra cold temperatures and other weather-related occurrences. I can't help but wonder if those of you in the other hemisphere are experiencing warmer than usual weather. If so, I believe I'd rather be there with you.

Recently I have been reading some old Coin World articles by James Johnson. Many of these articles date to the early 1960s. One of the things I've garnered from the articles is that certain aspects of our hobby have changed immensely, while other aspects have remained very much the same. Examples of dramatic changes include advertising, communications, collector preferences, coin grading, and the appearance that young collectors are more evident in the hobby than a generation or two ago. Examples of areas that haven't changed so much include the trust factor between dealers and collectors, views on numismatic investments, and the trend toward coin clubs and sharing hobby information.

Advertising was once done solely via hard copy. Dealers and sellers would mail sales material to the hobby publications or directly to collectors on their mailing lists. Mailing time and publication time caused delays in the presentation of the advertising material of anywhere from several days to several weeks. Mailing costs and hobby publications costs were fairly expensive. In today's world, listing your items for sale is quick and comparatively inexpensive. Electronic listings on websites or in certain auction venues are virtually instantaneous, and the cost of electronic advertising is arguably much less. Likewise, communications between buyer and seller via snail mail were comparatively slow. Today, utilizing email, communication about a potential transaction is fairly instant.

Collector preferences have changed considerably over the years. In yesteryear, the roll-collecting craze was almost epidemic, and collectors seemed to favor type sets. A few decades ago, commemoratives, modern coins, and Mint-issued items seemed less in favor. Today, even more people seem to favor collecting full date and mint sets by denomination, roll collecting is virtually gone, commemoratives are back in favor, modern-issues aren't so shunned, and Mint-issued items are at all-time highs.

Coin grading has changed dramatically, particularly with the innovation of professional grading services. Until the 1980s, coins were primarily graded using terms such as Good, Fine, Extremely Fine and Uncirculated, sometimes with additional, adjectival descriptors regarding color or luster. In more recent times, the Sheldon Scale is used in its entirety permitting one to find coins graded using every number on that 1 through 70 scale. And grade inflation has caused yesterday's Very Good to be today's Very Fine. It has also caused a proliferation of coins being graded as virtually perfect.

When it comes to young collectors, they didn't seem to be as prominent decades ago as they are today. I know, you've all heard old stories about the youngster helping grandpa with his collection, or the young man who'd search his paper route money or his father's change for coins he needed for his collection. But historically you'd primarily hear reference to adult collectors, and you'd rarely see a youngster at a coin show or an auction. Today, the young collectors (or YNs as they're termed) are very prominent in the hobby. That's primarily due to today's recognition that sustaining the hobby of kings depends on nurturing the youngsters. Now, YNs appear to be everywhere. There are special features and attractions at coin shows for them, they attend club meetings, they go to coin seminars, they write for hobby publications, and they receive recognition and awards for their accomplishments. All of that likely portends well for the future of the hobby.

In the arena of 'everything old is new again', some things seem to change very little. Unfortunately, that includes the element of trust between collector and dealer. Most coin dealers run legitimate and honest businesses. Likewise, most coin collectors are fair and honest in nature. But, like in virtually every hobby, there are bad apples on both sides of the fence. Out and out fraud is not the norm, but slight deception, a little misrepresentation, or a bit of exaggeration isn't wholly uncommon, whether you're buying or selling. Dealers and collectors looking at each other with a jaundiced eye is likely age old, but was potentially more commonplace until more recent times. Third party grading services have smoothed the way a bit. As well, some of the larger hobby organizations such as the PNG and ANA have assisted by educating both dealers and collectors. Books and reference material abound in today's world, and coin clubs offer mentoring. But no matter how much material, intervention or assistance is made available, the 'buy low, sell high' premise on the part of both dealers and collectors will likely always manage to cause a trust issue.

The concept of numismatic investing has pretty much always existed to some extent. Fifty years ago, investing in original rolls and original bags of coins was the rage. Many will remember the massive 'setting aside' of 1950 D U.S. nickels. In the 1980s, Wall Street invested substantially in slabbed coins and 'sight unseen' trading. Today we see people investing in the highest grade coins, including the modern issues with no intrinsic value. Over most of the years investment in precious metals has been popular especially as a hedge against inflation. Other than precious metals, the investing concept seems to have been less lucrative than desired over time. In today's world many believe that collecting should be done primarily for enjoyment; that a potential profit someday is secondary and shouldn't necessarily be expected. That philosophy has merit and should be considered.

And the last issue that hasn't changed so much over the years is the concept of coin clubs and the sharing of information. Coin clubs have existed for many decades, but in more recent time we have seen them grow and prosper. As the hobby grows, more and more collectors are beginning to enjoy the kinship of gathering as a group with a common interest. At the root level, the sharing of information begins with these clubs. But information sharing has grown by leaps and bounds in recent years. There's more information available today than ever before; more research is being done; more hobby publications printed; and more information on the internet. And that's all good for our hobby. There's really no excuse for collectors being ignorant in today's world. So, join a club, attend their meetings, read some of the reference books in your area of interest, research your hobby on the internet, and continue to share you knowledge with others. You'll be glad you did.

Happy and healthy holidays wishes to all from your Board of Directors.

Best Regards,
Ralph J. Huntzinger
WINS#158, President