The E-Sylum:  Volume 8, Number 44, October 16, 2005, Article 26

NUMISMATICS: HOBBY OR INDUSTRY?

Last week I quoted an author who referred to "the coin industry".
One reader writes: "Why is the collecting and selling of coins
being called an industry? Nothing is manufactured - by the hobby
or dealers. The only manufacturing is being done by the world
mints and bureaus of printing. If there is any "industry" web site,
such would be for them.

I have been most disturbed by the use of the word "Industry" as
a blanket moniker for the hobby and those of the dealer community.
Nothing is manufactured - those in the "business" are marketeers
of technically second hand goods and hobbyists are just that -
taking a portion of their lives to escape from the realities of the
world around them, to pause if you will, to explore an interest of
enjoyment."

[Although not an "industry", there is certainly a booming business
surrounding the numismatic hobby, so I would venture to say it's
safer to use the term "coin business" in this context. Coin dealers
are brokers and resellers, providing a service to the hobby through
their buying, selling and brokering activity. -Editor]

  Wayne Homren, Editor

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