Nostalgia, rise in coin collecting influencers on TikTok and the upcoming 2024 Summer Olympics driving interest
Searches on online marketplace Catawiki almost tripled in 2024
18 July, Amsterdam Coin collecting is seeing a surge in popularity. According to online marketplace Catawiki, searches for “coins” on the site have almost tripled so far in 2024.
It’s an exciting time, as the marketplace, which has been selling coins since 2012, has already sold over 80,000 coins this year. An in-house team of coin experts review and select thousands of coins every week and one of these experts, Alen Katic, shared his observations on the rise in popularity, “This is a really exciting time to be part of the coin collecting community. There are several factors at play that could point to why we are growing; nostalgia for physical money amidst the decline in use, the rise of social media giving a platform and online community to young coin collectors, and of course, the upcoming Olympics.”
Nostalgia
Nostalgia plays a big role in the millennial and Gen Z drive to collect objects. Many within this generation grew up collecting sport and game cards such as Pokemon, and now, amidst a decline in the day to day use of physical money, the collecting of coins is growing is piquing mainstream interest.
Social Media
The rise of social media has transformed collecting into a more accessible and dynamic hobby for young adults. The Royal Mint recently reported Gen Z as the most likely generation to begin collecting coins and collecting creators on social media platforms such as TikTok are growing in popularity. For example, Andrew and Nicholas Adamo, the names behind Bullion Shark have grown their following to nearly one million on TikTok. Another TikTok collector, CoinCollectingWizard, recently revealed a number of celebrities within the community, including Nicholas Cage and Nicole Kidman.
2024 Summer Olympics
Throughout their history, the Olympic Games have come accompanied by their own special coins and so it’s no coincidence that marketplaces are seeing a spike in interest for coins ahead of the 2024 Summer Olympics which kicks off this month. A number of countries have released a series of coins to commemorate the games. For example, the United Kingdom has released a series of Olympic 50p coins that are incredibly popular and can be found in everyday circulation.
Katic commented, “Some, like the swimming 50p, are very rare and can fetch over £1,000. Key factors that boost a coin's value include its material, how many were minted, and the demand, such as interest in a particular sport.” To date, almost 20,000 Olympic coins have been sold on Catawiki and recently, a French €2 2024 Olympic Games coin, which was part of a limited 20,000 release on June 4, sold for €223 earlier this month. These commemorative coins are the most favourited on the marketplace in recent weeks.
When it comes to building a coin collection, Olympics or otherwise, Katic suggests:
1. Whether you’re a sports fan, a history buff, or an armchair explorer, a coin collection can transport you to people and places you’ve only ever dreamt about so collect what interests you.
2. Joining a local coin club or a chat-board will also allow you to enjoy the camaraderie with others who not only share your interests but can also offer perspectives and advice. Learning all you can about the coins that you collect will not only protect you from making costly mistakes, but can also prove to be very profitable by giving you the skills to spot the rare dates, varieties, and other details that others may miss. In numismatics as in any other venture, knowledge mitigates risk and brings opportunities.
3. In terms of Olympic coins, collect both Winter and Summer Olympic coins, as countries issue numerous varieties every two years. While many are minted for collectors, some circulation coins are also issued to celebrate the Olympics.
ENDS
Editors Notes
Catawiki hosts weekly online coin auctions.
About Catawiki
Catawiki is the leading online marketplace for special objects that fulfil people’s passions. Over 75,000 objects are offered in auction every week - each reviewed and selected by one of Catawiki’s hundreds of in-house experts specialised in Art, Design, Jewellery, Fashion, Classic Cars, Collectables and much more. Catawiki is headquartered in Amsterdam with over 750 employees across the world. Fulfil your passion on catawiki.com or download the app.
