211 sats \ 8 replies \ @siggy47 5 Apr \ on: The Collectible Culture culture
For the past 10 years or so I have been collecting ancient roman coins. I wonder where this type of collecting fits into your thesis, and I wonder what effect, if any, a switch to a bitcoin standard would have on valuations? It has become a cliche for new investors to be warned that they shouldn't expect for their collection to grow in value. Despite their age and historical significance, these coins have survived in huge numbers. New hordes are discovered fairly regularly which can destroy the market value of a previously rare coin. Most collectors discuss the historical significance of the endless variations, rather than price.
I think to esp with ancient coins a big factor is going to be the shape it is in... if they find a hoard and it is all sorts of fused or corroded together then I don't think it has as big of an effect on a graded coin that is often just much higher quality and is shown to be authentic
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I'm not sure if you collect ancients, but the meticulous attention to grade doesnt exist as it does in other coin collecting, with notable exceptions of one of a kind coins. In fact, many, if not most collectors refuse to have their coins slabbed, since they want to touch them. Their rationale is that they have survived for 2000 years. They can survive a little human sweat. It is a refreshing culture.
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It's a deep rabbit hole and it's complicated, but low values have sort of prevented forgeries of common coins. It would cost more to create a fake one than buy a real one. This site has a ton of https://www.forumancientcoins.com/:
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I hear you. Those sound awesome!
If there's one of these categories of collecting that I appreciate the most, it is most likely antique jewellery & coin-collecting. Not least because people need to put-in the real proof-of-work to develop an eye for a gem or a bargain, but they also need to understand their beauty in the materials, the condition & history.
In general I don’t wish to downplay collecting at all. There is beauty in someone else’s proof of work, in the materials and methods used. We’re not all digits inside a computer (at least I hope not in my simulation), so having prized possessions with a rich history is great.
It’s just perhaps their utility diminishes with sound money, to having more limited potential as investments, although perhaps more potential opportunities to own (for those with an interest in them).
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