Bitcoin Forum

Do you agree with me that coin collections out there, will become more valuable as Bitcoin and other Crypto currency replace fiat currencies?

The Numismatists out there will benefit from a world where fiat currencies are replaced by Bitcoin. If I were you, I would take great care of

your coin collections, because they will be replaced by some form of Crypto currency in the future.

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are

often characterized as students or collectors of coins, the discipline also includes the broader study of money and other payment media used

to resolve debts and the exchange of goods.

hmm 2 random people suddenly pull the same buzzword out of their hat within 3 minutes of each other..

that have not been regular words used on this forum in the past. ok.. more than a coincidence

I am a Numismatists, so it is not strange in our community to use that phrase, but yea... strange coincidence.. where did you quote that from?

I have used this term in some of my previous threads about this topic too... but I asked a different question "Would Fiat be missed" by the

coin collectors of this world. We had a good discussion about that, so I followed up with this thread.  ;D

Edit : https://bitcointalk.org/index.php?topic=1028858.0

bitcoin wont "replace" fiat.

fiat will exist due to minimum wage, legal tender, taxation, fines and duties laws. keeping fiat in circulation.
bitcoin will become a popular alternative.
but dont think bitcoin will become the only 'one world' currency to pay for every countries public services and civil servants/bureaucrats excessive salary.

bitcoin will be an open choice. not the only choice.

however while fiat hyper inflates (unrelated to bitcoin specifically but due to failings of fiat itself) yes people will realise hoarding assets its better. whether its bitcoin or collectable precious metals/gemstones

I see bitcoin more as a connection between fiats.
Bitcoin replacing any fiat simply will not happen.
Why would any government would want it's currency to be replaced by something it can not controle?
What happens when a government is not able to do so we have seen in the southern european states during the last years.

I dont think it will be just any coin!  i reckon the smaller denomination coins will be left laying everywhere,  but yes certain coins will prob become collectors items and crypto takes over.  ;)

Well, It would not necessarily be Bitcoin, it may be some other Alt coin, based on "Blockchain" technology. The reason why governments

would opt for Crypto currencies, could be because it would gives them more control. They currently have limited control over fiat cash, but in

many instances... they have to go through a lot of effort to "follow" cash transactions. If they create their own "token" and they replace fiat

with that, then they will have more control. { They can follow every transaction in the world, and still control the quantity of currency being

generated. }

I beg to differ. I think the opposite is true: Apart from few exceptions, where collections have true historical value, ordinary coin collections will become less valuable. The reason is a drying up of demand for physical coins:

Once everybody only uses electronic forms of money, nobody will be accustomed to use physical coins and regard them as valuable. In addition there will be no new coin issues, marking the end of an entire collecting field. The probability of new collectors entering the numismatic scene will be greatly reduced as a result. Once the old collectors have died, there will be no new demand for coins.

Apart from that, true collectors don't collect because of a potential increase in value of their collection.

ya.ya.yo!

Bitcoin replacing fiat is highly unlikely, because bitcoin with its potential has grown high in value but to that extent it hasn't reached common people. I believe people continue to use fiat forever. Coin collection gets importance when the predicted year of coin generation gets over

I doubt if this going to happen,here in our country a third world country,bitcoin is not very popular and some other remote places in this world cannot buy food and water and other basic needs by bitcoin alone,we still need fiat money and government will not allow this to happen,they will lose control of everything.

While I agree with you I also think that moving to a cashless society will greatly reduce the amount of fiat that does exist. I've see recently were Canada is planning to greatly reduce the printing of more bills. Also, the US is approaching the 50/50 point of cash vs electronic transactions.

while we move into the electronic only society.. people will still want something in their sole control. especially during a hyper inflation rally. they wont put 100% trust in middlemen authorised payment systems that limit their access or charge them fee's just to use their own earnings

I agree and I would like to buy some of those caessars coins or whatever is the correct way to say it. The physical coins, at least 1 BTC in physical coins. I think it will have a lot of collector value over the years, even tho it defeats the point of bitcoin since the idea is to have it digital but the collector value doesn't care about usefulness.

even if bitcoin will be very big like trillion marketcap and used all over the world, i think fiat will still have its place, like bitcoin now, maybe you can diminish its usage but fiat will remain relevant, for removing fiat completely we need many new generation, and probably 1000 years at least

i will probably not live long enough to see bitcoin replacing fiat, so i guess i could take almost anything and store it for some 50 years and it will have some value if it is still in good condition. prices will also probably not go up to much, since you can get already some thousand year old coins that are not worth that much. 

I think the complete opposite would happen if Bitcoin replaced fiat which won't happen anyways as already noted above. Because when fiat is replaced by digital money the physical money would become obsolete and thus worthless. Their value from a collector's point of view will plummet because there would be no interest in keeping such outdated artifacts any more.

banknotes and legal tender coins (nickels dimes, cents, 20p pieces and pennies) will be useless..
but asset collectables (1ounce gold coins) will have a place.

it wont be a big place. but will see growth of utility. just like bitcoin.

not due to bitcoin being a one world currency. but because fiat becomes hyper inflated and people are peed off with having to work an hours labour and have their wife stood at a grocery aisle to spend it before the hyper inflated fiat the guy worked an hour to earn is not worth a loaf a bread.

people will still be in the majority forced to work for fiat due to legal tender laws of tax/minimum wage etc. but they will convert it to more stable currency for long term handling.

again not everyone will do it. and bitcoin/gold wont replace fiat. but it will become a open choice to swap into

Bitcoin will never replace Fiat, people believe in what they see and hold, the idea of Bitcoin is still abstract to alot of people, that is why it will still take great work for Bitcoin to surpass Gold and precious metal as an investment. Also, inflation rate of Bitcoin won't make it possible to surpass fiat currencies

It's an interesting proposition, but I don't know how much more valuable they're actually going to be getting.

If anything it'll still take decades before coin collections start to see some appreciation, mostly because coined currency with still exist for a long time even after everything gets replaced. It's not like it all disappears overnight.

I would agree with your comment about 1 oz coins.

But, I would *speculate* that truly rare numismatic coins, especially (graded in all cases by NGC or PCGS) rare gold or ancient coins will do very well even if Bitcoin gets dominant (if ever).  There will always be collectors of the very highest quality, whether art, antiques or top real estate (oceanfront homes for example).

I dont think so! Bitcoin will not even replace fiat currencies, rather bitcoin is another form of fiat currency. In my point of view, a competition of between fiat currencies and bitcoin is very hard to understand. Yes, bitcoin is going to become the primary global currency, but it will force the rest  of the world to catch up to what bitcoin can do for every person who uses it, but bitcoin cannot replace fiat currencies.

Ok, Well if this was true... then explain stamp collectors. We hardly use any stamps anymore, since most people use email and social media.

There are still millions of people around the world collecting stamps. So, I beg to differ on your... "beg to differ"  ;D ... I think even more

people will get into coin collection, if Bitcoin or Crypto currencies replace Fiat.  ;D

Bitcoin, Litecoin, Dogecoin. It doesn't mean that the word "coin" in those cryptocurrencies can affect the value of all the minted coins out there. I don't think a certain currency can affect the outcome of another currency. But they do affect the value of currency in which shows who has more value. And also I do believe that Fiat won't be replace by any kind of cryptocurrency out there, for Bitcoin to be the official currency of a country it must have it's own working government, which it does not have.

Of course there are still collectors of stamps. I did not say that the number of collectors will suddenly drop to zero. But there will be significantly fewer collectors and hence overall lower prices (inflation adjusted).

In fact, the collector values of most common stamps are trending downwards since more than a decade. The only exception being very rare stamps in the highest price segments which have attained investor demand as a portfolio diversification. The same will happen with coins: Only the rarest and historically important coins will preserve/increase their value. Ordinary precious metal coins will keep at least their material value of course. Ordinary non-precious coins or coins mass-produced only for collecting purposes will see a sharp decline in value.

ya.ya.yo!