Why Millennials Are Rediscovering Coin Collecting

With the peak of modern coin collecting widely considered as the 1950s and 1960s, it is reasonable for many to assume hobby collectors are enthusiasts of the past that will eventually fade away entirely. It has left some younger collectors wondering, “Is coin collecting a good hobby to invest time and effort into?"

While the pursuit as a whole may have passed its heyday, collecting coins is still alive and well. In fact, recent studies into Millennial and Gen Z cultures have found passionate collecting communities across the United States. While young collectors have demonstrated different motivations for coin collecting than older generations, high satisfaction can be found among collectors of all ages. 

Keep reading to find out why collecting coins continues to maintain popularity among Millennials.

The Hunt For Coins: Two Cents About Coin Collecting

In 2022, 61% of Americans identified as collectors, with the highest area of interest being collecting coins at 17%. Not only are Millennials continuing to keep coin collecting alive, even younger groups are getting in on the excitement. The Royal Mint has reported Gen Z as the most likely generation to begin collecting coins, and over 1,200 current members of the American Numismatic Association (ANA) fall below the age of 18. 

Interestingly, the motivations behind collecting vary widely between age groups though. With Millennials being the most financially risk-averse generation, citing credit card debt as their biggest fear in daily life, this group most widely collects for the simple joy of the hobby. One Millennial likened coin collecting to finding “little art objects you can hold in your hand.” 

The Craze Continues: Getting Started Coin Collecting

While the popularity of different collection types varies by age group, Millennials are prone to collecting physical objects. One of the primary factors driving Millennial collecting is to invoke feelings of nostalgia and positive childhood memories. This motivation means coins popular in the 90s and early 2000s such as 50 State Quarters, Gold Sacagawea Dollars, and Olympic Games coins, are of particular interest. However, for those just stepping into the world of collecting, the possibilities are endless!

Rather than letting the expansive world of coin collecting overwhelm Millennials, there are several entry points for novice collectors to get their feet wet. Try starting with a local area coin club, or even browse social media! There are several YouTube and Instagram accounts dedicated to helping new coin enthusiasts. Additionally, for those who are not ready to brave coin auctions and estate sales, reputable online sellers like GovMint are reliable and trustworthy options for Millennials to begin their collections.

Numis-a-what-atist?

Collecting coins became so popular over the years that specialists and knowledgeable collectors earned a special name. Numismatists (try saying that five times fast) are people who study, collect, or appraise coins. Meanwhile, numismatics refers to the broader study of coins and currency.

Is Coin Collecting Popular Now?

With 1 in 3 people claiming themselves as collectors of physical items, it is safe to say coin collecting is not disappearing anytime soon. While not as popular as it was in the mid-1900s, Millennials and Gen Z continue to join the ranks of numismatists every year.

What is the Average Age of Coin Collectors? 

The average coin collector is nearly 60 years old.

Why are Millennials So Into Collecting Things?

As mentioned above, nostalgia and positive childhood associations play a big role in the Millennial drive to collect objects. Other experts speculate the interest in collecting can stem from a sense of accomplishment, especially for Millennials who grew up in the prime of sport and game card collecting.

The Ultimate Coin Quest

Young or old, novice or experienced, coin collecting is a hobby anyone can join. For those just starting, there are hundreds of US-based coins to explore. Or, to start even smaller, budding collectors can start by searching their current coin stashes for potentially rare years and error coins from modern times. On the other hand, for those looking to jump to the next level of coin collecting, gathering international coin sets or coins from ancient time periods can be an exhilarating and more time-consuming hunt.

Above all, connecting with fellow numismatists, locally or online, can assist even the most experienced collector in finding their next big discovery.

Find Your First Coin

Is coin collecting a good hobby to start as a Millennial? Whether you are interested in numismatics due to childhood nostalgia or the thrill of the hunt, collecting coins is an interesting and attainable hobby. Starting does not need to be stressful with social media, local groups, and GovMint’s resources like our Coin Authority Blog and a glossary, which are available to all.

Begin the hunt for the next addition to your coin collection and shop with certainty through reliable merchants like GovMint today.

Shipwrecks, Sunken Treasure and Salvage A Window into the Past. Coin Capsule

SS Republic® 

 The SS Republic’s last voyage began on October 18, 1865. She departed New York bound for New Orleans with a reported $400,000 in gold and silver coins. On October 23, the ship was off the coast of Georgia when an EastNortheasterly gale blew in. At 4:00 P.M. on October 25, after two days of valiant struggle to keep the vessel afloat, the Republic went down. After a 12 year search, Odyssey Marine Exploration Inc. received a report on November 7, 2003 from its recovery vessel that they had found the sunken remains of the Republic, containing thousands of gold and silver coins worth as much as $180 million.

SS Central America

 The SS Central America was a 280-foot wood-hulled, side-wheel steamship launched in 1852. The ship was in service on the Panama Route between New York and San Francisco during the California Gold Rush era. On September 12, 1857 the Central America was caught in a hurricane and sank.

According to the Library of Congress website, the Central America “had aboard 581 persons, many carrying great personal wealth, and more than $1 million in commercial gold. [This ship] also bore a secret shipment of 15 tons of federal gold, valued at $20 per ounce, intended for the Eastern banks”.

In 1988, the SS Central America was located 160 miles off the coast of South Carolina, 7,200 feet below the surface.

SS Brother Jonathan

The SS Brother Jonathan was a side-wheel steamboat built to carry both passengers and cargo. In 1865, it set sail from San Francisco, California, headed for Portland, Oregon. On it were 150 passengers and 500 tons of cargo—including 300 barrels of whiskey, a quartz-stamping mill meant for an Idaho gold mine, and hundreds of thousands of dollars in gold.

 On July 30, 1865—only its second day of travel—the Brother Jonathan hit bad weather, and suffered irreparable damage when it smashed into an uncharted rock. The crew did their best to save all passengers on board, but only a single wooden life boat was successfully launched in time. Less than 50 passengers escaped with their lives—and little to none of their belongings.

Though many searches were done over the years, it wouldn’t be until 1993 that the wreck was located, and not until 1996 that the “sunken treasure” was recovered.

SS New York

 In early September 1846 the side-wheel steamer SS New York sat docked in Galveston, Texas. She was the Titanic of her day, a luxury liner with polished mahogany woodwork and brass from stem to stern. She carried passengers from New York City via New Orleans to Galveston, the largest city in Texas. On this warm late summer day she was taking on stores and readying her boilers for the return trip to New York. There is no record of any of her passengers or crew paying much attention to the storm clouds gathering in the direction of the Gulf—or those rolling in from Mexico.

Galveston was bustling. The Mexican War was underway, and certainly the city was teaming with spies. Was sabotage in their plans? No one knows for sure, but the New York was a prize. She set sail on September 6, leaving the war behind. Or did she? The history of what happened next is scant. All we have is the official story. Soon after she set sail the winds picked up and the sea roiled. Then, her side split and water poured into the ship. Was it the storm, or saboteurs? No one will ever know.

The ship sank to the bottom of the Gulf of Mexico where she rested, undisturbed, for 144 years. Eventually, the $40,000 in gold and silver that had been aboard the New York was recovered.

What’s in a Name?

GovMint® means we are an official distributor for nearly all the major world mints. We offer the broadest selection of top quality coins from literally every corner of the globe.

GovMint means we draw upon an unmatched wealth of coin knowledge, expertise, and over 30 years of collecting insight.

GovMint means that we share your passion for coins, currency, and collecting. Because we’re passionate about coins, only the very best will do. By working directly with government mints worldwide, we bring their very best right to your doorstep. Many of the coins we bring to you cannot be found anywhere else!

For the absolute best collectible coins from worldwide governments—secured for you in the finest possible ‘mint’ condition—one name says it all: GovMint.

What is an Incuse Coin?

An incuse coin displays its design below the surface of the coin rather than above it. It’s a practice that’s existed since ancient times-in fact, some of the first coins were little more than balls of electrum with a single punch driven into their center to mark their place of origin. 

Once coins began bearing actual designs, the striking of incuse coins was still often used, as this was believed to help the design last longer in circulation before being worn away. 

Even the United States experimented with the idea, striking $2.50 and $5 gold “Indian” coins with incuse designs. 

It’s less common now, though, and generally reserved only for special releases.

Even the United States experimented with the idea, striking $2.50 and $5 gold “Indian” coins with incuse designs. 

It’s less common now, though, and generally reserved only for special releases.