A View From the Society on Challenge Coins
Posted on March 19, 2008
Filed Under Collecting Thoughts
From time to time we like to take a spin around what’s going on in the challenge coin hobby. So many things change so rapidly. The hobby is a live an well for many collectors as 2008 rolls in. Some great coins have already hit the market. Even with the economic down turn the U.S. is feeling right now everything seems to be going well. Challenge coins seem to be getting away from interaction from collector’s and is mostly pure commercial as the new year opens way.
We have found that most groups of challenge coin collectors are purely marketing for companies of coins. This is hobby wide it seems. It’s funny when you look through the last few years and see a huge collaboration and mega amounts of information coming out in 2006. People were coming out talking about coins. In 2007 it was starting to fall apart as some seen great riches in the hobby and less information has come to life. Major companies have come to life in the wake of quiteness which is great but we seem to be losing the collector base as a hobby and now it has become a store base.
2008 yields great hope of great coins, great information and resources. We did a story on eBay and losing the niche. They increased the final value fees of challenge coins because of the price range but sellers are holding on. The price increase has not shaken this niche in the least. You can buy the same coins at the same price of last year. This is great news for collectors. I think in all the changing we seen the active hobby leaders split into groups. There is collaboration in smaller pacts than larger groups. This may very well be huge in creating new ideas faster because you don’t have a hold on just one group anymore.
We don’t really notice any negative trends going on. We notice changes but not for the worse. We see two distinct groups. We see the eBay sellers/hobbyist, and you have the regular web hobbyist and sellers. Who will win? neither, it’s a combined effort in the long run. We do see some trends though that will bring us into 2009. Perhaps we are right, or perhaps we are wrong as it’s anyones guess.
We see the eBay sector to stagnate with the same coins over and over again from the same sellers maybe with different names pulling what they can from hobbyist looking for the easy buy. We don’t see huge collaborations in this section though. It’s to controlled and many will be comfortable to stay with what they know. Our position on the off-eBay sector will be the moving one. We see huge collaborations among many collectors and companies alike. I think as many mature in the hobby they will reach for better coins that not everyone can buy. People will be yearning for more as eBay secludes itself from everything else.
One of the biggest things 2009 may bring in is the partnership of U.S. Challenge Coins with many other companies to bring a higher level of product and services along with information to the internet. As a new site in 2007 they have already been booming to get into some of the heavy weight positions. Partnering with U.S. companies to include JW Enameling and The Guardrail Company and many more they will achieve a very efficient avenue for collector’s. This is just one website of many out there but we believe this one to be a true website with huge potential.
We are seeing more emphasis on quality coins that are unique in the hobby. Competition is healthy but there is less competition every day as once competing websites find harmony in working together for the greater good. This is something eBay sellers have yet to figure out. This is an assumption as nothing has shown otherwise. At this point it’s all in the air but we wanted to put thoughts in the air for people to look at and come to their own conclusions. What do you think 2009 will bring? Where is the hobby headed?
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