What Obama will do for Coin Collecting

After talking on a Coin Collecting Forum about races and coin collecting, I have come to a conclusion. This conclusion came from talking with many collectors who go to shows and coin shop owners across the nation.

For the past decade coin collecting has been slowly but surely increasing popularity among African Americans. There are many reasons behind this but it mostly stems from economic and social standing. As the African American race as a whole becomes more stable economically and socially the more they will collect coins or other collectibles.

In the past it was rare (according to collectors and shop owners) to see African Americans at a coin show or in a coin shop. In part this was due to the hobby itself. I believe that in the 20s and 30s that collecting coins or even getting a glimpse of the Double Eagle or the Eagle was very tough for most people especially African Americans who historically had very poor jobs and where subject to prejudice and poverty. This fact kept one of the best collecting hobbies grounded to the white upper middle class and white upper class. In-turn the coin collecting hobby was handed down to a select few in the form of inheritances or gifts.

So... what will Obama do for the coin collection hobby. He will instill confidence in African Americans and in my opinion will make America a place for self pride for the black communities. It is a coming of age for the race as a whole and in by means will be celebrated. The "good feelings" will spil over and Americana (including coin collecting, civil war memorabilia and folk art from the past) will see an increase in value. African Americans that are willing to collect items will be purchasing these items at a higher value. These items will serve as a reminder of the past as well as say "hey things are getting better as time goes on." And "Im in the right place at the right time."

Will this reverse our economic issues? "NO" it takes alot more then collecting coins and memorabilia to get our economy out of its slump. But it will help! After all there is a index for Self Confidence on the stock market.

Which coins will see the benefit the most? Any coins pre 1940 should see a spike but the highest spike will be from from the coins made during the Civil War and Post Civil war especially Confederate currency. In addition, any Gold Coins will see an increase.

So... if you are like me and see a deal on these coins now, don't be afraid to purchase them. If you have these coins be ready to sell them after (if) Obama is elected. Sell them because with every upside there will be a downside. Say in 2.5 to 3 years.

"But I think McCain will win the election" You are thinking when you read this post. All I can say is good luck and I hope you liked what Bush has done because little will change including gas prices, the stock market and the economy. But hey that is for another blog to answer.