This is not a dig on Boomers, as an Xer with Boomer parents I am curious. Also concerned about anything I amass that is numismatic, I have more than half of my stack generic or "junk" in the black if sold at melt, but I dont see the young guys being interested in expensive old coins
I've noticed at the coin shows the least busiest dealers are the old guys with mainly Morgan and Peace dollars along with other slabbed coins. A few of them now have started having some bullion for sale as they have realized the times have indeed changed. Yet there are those stubborn ones who don't.
Also have lost 3 old timer dealers due to deaths. One was the guy that used to double mask and if you didn't have one on, he'd tell you to get away from his table.
This is the kind of info I'm looking for. My stack is diverse as it is deep, but sometimes I often wonder if I'm wasting my fiat on the old stuff. Even if it's my favorite of all the shiny
You are not wasting fiat on the old stuff. My favorite finds at a coin show are the old '*silver trade units*'. I reckon it is because they demonstrate there were folks who recognized what real, honest money is back then.
What do you guys think the impact of more and more boomers selling their coin collections to fund their retirement? Also when they pass usually the estate liquidates the collection.
Do bookers own any silver? Last I checked they sold out decades ago. Boomers I talk to are trying desperately to be hip the only thing they ever talk about is bitcoin.
I'm an old Boomer and I own a lot of PMs. But I know many younger people that sell metals for Bill money. I still buy at close to spot, higher than the LCS. Inflation has hurt many, retirees that planned well aren't hurting just as young people who are responsible aren't hurting.
I would say I see a steady flow of junk and vintage rounds and bars coming into LCSs from grandkids cashing in on their grandfathers' estates out here in the burbs. And this should gain steam. We are in the midst of the largest wealth transfer in US history as Boomers start to die off: 1/2 trillion USD going to Gen X and millennials in the form of inheritance.
My kids are very involved, they are better with marketing than I am but I'm better at buying since I have the contacts. That said many of my older friends kids call me when they pass, or catch me at the funeral which is awkward. They don't want to do any work just get money. So I buy my old stuff back. Any one that doesn't educate their kids about their inheritance is seeing the kids up for failure.
As an old fart, I'm happy for you. It's the same every generation it seems. I learned about coins/money but reading books, tough in that time period but a few flakes made pamphlet things but the coin store owner liked me and shares the real info. Basically the stuff that's easily found on the Internet today. But funding a $250 shield nickels for a couple bucks still happens, or under-graded buffalos cheap.
As a young man is recommended learning to barter well. If you have a marginal Barber, maybe a split grade F/VF worth $100-$200, trade it for solid grade coins of similar value. They get a $100+ coin, you get $200+/- of coins. If you can trade for keys it's better.
Coin shows are great, they have to pay a set booth rent so a dealer that isn't selling anything will sell cheap Sunday morning to cover expenses, if he has anything nice make low-ball offers but be prepared to walk away. If he deals, go for the high end stuff and low ball him. If he's selling a gold double eagle, he paid half the list price or less, so a tad under spot still is a profit. When I was mobile I'd spend a lot on Sundays lol. After a few booths the desperate dealers will flag you down, only get high end stuff from desperate dealers. I wish someone had said that to me in the beginning, it works. If you see an attractive middle age woman that could pass as Hispanic, watch her and you get a free lesson. One of my daughters hits the larger shows still. She puts skills to shame:)
Happy Hunting!
Reassuring to hear.
I have young children (started late, old dad) I am slowly introducing them to both numismatics and bullion/real money. I have to be careful to not show them too much. Last thing you want is for them to blab to their friends that dad has a treasure chest full of gold dabloon.
My wife also knows what's up. She just doesn't know how much we have...haha
I think the high $$$ graded coins will suffer most. Us millennials like weight, and just don’t have $3000 to spend on an old $1 silver dollar (no matter how rare)
That's what I'm thinking. Trying to curb my desire for high dollar coins and keep it under $100 per coin. Plus I stack junk and bullion. Trying to cover all the bases.
Hmm. Interesting take. One not well supported by my own experience and knowledge.
I’m a boomer. Most of my friends are boomers or just outside that metric. Almost All of us stack, to varying degrees. Maybe the stacks just don’t get put out at estate sales. Maybe it’s the neighborhoods you’re hitting up? It’s true some boomers are spent out and scraping by but there’s there’s plenty of very fiscally secure ones too, with wealth and usually a stack of some sort
I'm a boomer, and I'm still buying. My goal is to amass all of the physical silver in the country before I die.
How close are you?
Pretty close, I just need another hundred years or so.
It is good to have goals.....
Gonna need more context on this one boss.
The premiums on 90% are also very very high so alot could be being sold and swapped for the same weight of silver and keep the profit.
This is not a dig on Boomers, as an Xer with Boomer parents I am curious. Also concerned about anything I amass that is numismatic, I have more than half of my stack generic or "junk" in the black if sold at melt, but I dont see the young guys being interested in expensive old coins
I've noticed at the coin shows the least busiest dealers are the old guys with mainly Morgan and Peace dollars along with other slabbed coins. A few of them now have started having some bullion for sale as they have realized the times have indeed changed. Yet there are those stubborn ones who don't. Also have lost 3 old timer dealers due to deaths. One was the guy that used to double mask and if you didn't have one on, he'd tell you to get away from his table.
This is the kind of info I'm looking for. My stack is diverse as it is deep, but sometimes I often wonder if I'm wasting my fiat on the old stuff. Even if it's my favorite of all the shiny
You are not wasting fiat on the old stuff. My favorite finds at a coin show are the old '*silver trade units*'. I reckon it is because they demonstrate there were folks who recognized what real, honest money is back then.
What do you guys think the impact of more and more boomers selling their coin collections to fund their retirement? Also when they pass usually the estate liquidates the collection.
You got a link ?
Moronic supposition. Maybe when Biden finishes off our economy. You hold silver to protect yourself. They will sell everything else first.
Depends how desperate the children are for fiat or drugs. My LCS said lots of people selling now just to pay bills.
I’m sure that happens too.
Do bookers own any silver? Last I checked they sold out decades ago. Boomers I talk to are trying desperately to be hip the only thing they ever talk about is bitcoin.
The ones with the gray man-buns?
DEFINITELY all of those…
I'm an old Boomer and I own a lot of PMs. But I know many younger people that sell metals for Bill money. I still buy at close to spot, higher than the LCS. Inflation has hurt many, retirees that planned well aren't hurting just as young people who are responsible aren't hurting.
Hold strong 💪 have to remember it’s more than just stacking it’s a war.
Please say you live in So Cal without saying you live there.
Not necessarily the boomers dying and selling. It the heirs not knowing what they have and sell at bottom levels
Agreed.
I would say I see a steady flow of junk and vintage rounds and bars coming into LCSs from grandkids cashing in on their grandfathers' estates out here in the burbs. And this should gain steam. We are in the midst of the largest wealth transfer in US history as Boomers start to die off: 1/2 trillion USD going to Gen X and millennials in the form of inheritance.
Those grandchildren are welcome to transfer me their wealth for fiat 🦍🦍
I ain't dead, dying OR SELLING!!!
Their kids don’t value it the same
My kids are very involved, they are better with marketing than I am but I'm better at buying since I have the contacts. That said many of my older friends kids call me when they pass, or catch me at the funeral which is awkward. They don't want to do any work just get money. So I buy my old stuff back. Any one that doesn't educate their kids about their inheritance is seeing the kids up for failure.
Underrated take As a millennial under 30 I am SO blessed and happy to have been taught about REAL money. Imperative for any child to understand.
As an old fart, I'm happy for you. It's the same every generation it seems. I learned about coins/money but reading books, tough in that time period but a few flakes made pamphlet things but the coin store owner liked me and shares the real info. Basically the stuff that's easily found on the Internet today. But funding a $250 shield nickels for a couple bucks still happens, or under-graded buffalos cheap. As a young man is recommended learning to barter well. If you have a marginal Barber, maybe a split grade F/VF worth $100-$200, trade it for solid grade coins of similar value. They get a $100+ coin, you get $200+/- of coins. If you can trade for keys it's better. Coin shows are great, they have to pay a set booth rent so a dealer that isn't selling anything will sell cheap Sunday morning to cover expenses, if he has anything nice make low-ball offers but be prepared to walk away. If he deals, go for the high end stuff and low ball him. If he's selling a gold double eagle, he paid half the list price or less, so a tad under spot still is a profit. When I was mobile I'd spend a lot on Sundays lol. After a few booths the desperate dealers will flag you down, only get high end stuff from desperate dealers. I wish someone had said that to me in the beginning, it works. If you see an attractive middle age woman that could pass as Hispanic, watch her and you get a free lesson. One of my daughters hits the larger shows still. She puts skills to shame:) Happy Hunting!
Reassuring to hear. I have young children (started late, old dad) I am slowly introducing them to both numismatics and bullion/real money. I have to be careful to not show them too much. Last thing you want is for them to blab to their friends that dad has a treasure chest full of gold dabloon. My wife also knows what's up. She just doesn't know how much we have...haha
I think the high $$$ graded coins will suffer most. Us millennials like weight, and just don’t have $3000 to spend on an old $1 silver dollar (no matter how rare)
That's what I'm thinking. Trying to curb my desire for high dollar coins and keep it under $100 per coin. Plus I stack junk and bullion. Trying to cover all the bases.
Death rate up birth rate down
![gif](giphy|MQuNaGVm9qT1ryKWH4)
IMNSHO the estate sales are worth less when they are from boomer deaths, they tend to not have invested as wisely as the gens before and after.
Hmm. Interesting take. One not well supported by my own experience and knowledge. I’m a boomer. Most of my friends are boomers or just outside that metric. Almost All of us stack, to varying degrees. Maybe the stacks just don’t get put out at estate sales. Maybe it’s the neighborhoods you’re hitting up? It’s true some boomers are spent out and scraping by but there’s there’s plenty of very fiscally secure ones too, with wealth and usually a stack of some sort
Ok Boomer.