Hundreds of thousands, indeed probably several million people buy coins. A former director of the Mint estimated that over 1,200,000 people collected Statehood quarters from pocket change. Today in 2017 there are about 500,000 people on the U.S. Mint mailing list. Beyond this, there are a lot of people who buy gold and silver coins for bullion content. Many millions of $20 double eagles are hidden in bank safe deposit boxes.
As to how many people are numismatists, there are no sure figures. The field comprises not only coins, but also tokens, medals, and paper money, as well as accessory items such as books, out-of-print auction catalogs and more. My estimate is that there are about 250,000 to 500,000 people who in 2017 will spend $100 or more on coins. Only a small fraction of this number belongs to the American Numismatic Association or subscribes to the various magazines and newspapers. This probably includes many thousands of collectors who buy on eBay but have never gone to a coin convention.
Probably over a million people do indeed collect coins, but most of them are casual. How nice it would be to have them become more involved! There is a lot of potential waiting in the wings.
The greatest “missionary” for the coin hobby is the Guide Book. Published since 1947, a new edition comes out each year, with the cover date a year in advance. At the Whitman Coin & Collectibles Expo the new 2018 edition will be launched, as will be the very successful, huge and heavy deluxe edition, nicknamed Mega Red, which has over 1,500 pages! I have enjoyed being research editor for each. If you read this in time and are at the show, I would be delighted to autograph a copy for you. Members of the American Numismatic Association get a 10% discount, so ask for this if it includes you.
What with the D. Brent Pogue Collection Sale V, our other auctions in multiple catalogs, the active bourse, and more, there will be a lot going on—a lot to like! I invite you to meet and greet the Stack’s Bowers Galleries staff. We’ll be all around the show—at auction lot viewing, at the auctions as they take place, and on the bourse floor.
Returning to the Guide Book, at one time during the great nationwide coin excitement of the early 1960s over a million copies were sold! Today the number is in the hundreds of thousands—most of which are sold to the general public, not to numismatists. This book is the doorway to what I call the world’s greatest hobby. Others call it an industry. Whatever you may call it, being involved can be very enjoyable.
When you get your new 2018 edition with thousands of price changes and other information, take time to read the front section—the narrative about coins, how and why they were struck and how they were distributed. Tips on grading and other aspects of collecting are given. If you opt for the new Mega Red book I think you will enjoy the huge special section, over 300 pages, on nickel five-cent pieces. I enjoyed creating it.
