The 2025 "State of Collectables" Report by eBay and Deloitte Access Economics

Back in the day, Access Economics would regularly publish their "Economics Monitor", it included regular research on the Australian markets for a range of tangible assets. Wine; fine art, stamps and rare coins among other assets were tracked. 

Sub-titled a "...corporate brief on economic and financial developments", the report was an earnest effort to track a basket of goods within each asset segment it monitored. The edition covering these assets came out twice a year and gave those that read it an idea of the level and direction of activity in the "real" things that Australians put money into.

Even as a fresh-faced 20-something, I didn't believe economists were interested in the values of coins, wine or fine art specifically, but that they instead viewed values in collectibles markets as a way of observing disposable income spending patterns in real time. Similarly, they could observe inflation hedging behavior; wealth sentiment and specifically the appetite for risk among the hoi polloi.

From what I could see, the report became a victim of its own success - due to the broad rise in asset values that happened throughout the 90's and into the 00's, the market growth figures it reported were breathlessly reported by those selling to "investors" at a ratio of 10 to 1 over the dry economic observations it was originally intended to express. The noise drowned out the signal!

Several decades passed between those reports being published and Deloitte Access Economics releasing their "State of Collectibles Report" report in 2023. That report surveyed close to 4,000 Australians on their spending habits and explored a number of the themes covered by the "Economics Monitor".

The "State of Collectibles Report" report was reprised earlier this year, and it contained a range of observations and conclusions on the market for collectibles in Australia that are worth noting. The numbers tell a story that every serious collector should hear, even if some of it might make you squirm a little.

The Good News:

- Coins are officially Australia's most collected item. Not toys, not fashion, not whatever else is trending on TikTok this week. Coins.
- Collectors are making real money - a median profit of $13,000 over three years was reported. That's not small change...
- 5 million Australians are interested in collecting but haven't started yet. The blue sky folks among us would see that like having an untapped city of potential customers just waiting for someone to explain why a 1930 Penny matters.
-  70% of sellers use online platforms, eBay remains the preferred online market.

The Reality Check:

- eBay is a major marketplace for coins, but it certainly isn't the entire market. Traditional auctions still account for the vast majority of the serious numismatic trade, and that isn't even touched upon.
- Only 19% of folks collect primarily for investment. The rest are in it for love, which is both sweet and potentially expensive.
- 67% of collectors didn't sell anything last year. Depending on how cynical you are. that's either confidence or ignorance.
- The median collection is worth $2,200. That's a nice start, but it won't fund your retirement.
- 52% of collectors either maintained or increased their spending despite cost-of-living pressures. Is that really sustainable?

Let me walk you through what this data really means when you strip away the marketing speak.

Coins Are No Longer Small Change

Numismatics surely has to be accorded a legitimate seat at the tangible asset table. This report pegs the total value of collectables in Australia at $16.8 billion. If coins truly represent 34% of all collectors, we're looking at roughly $5.7 billion in numismatic holdings across the country. Let that sink in for a moment. $5.7 billion. That's not spare change found between couch cushions.

But here's the thing about numbers - they're only as good as the assumptions behind them. When the report talks about a median collection value of $2,200, that includes the person with three HH $2 coins alongside the fellow with a complete set of Australian Sovereigns in mint condition. Averages can be misleading, especially in a hobby where one person's "collection" is another person's petty cash.

The Investment vs. Hobby Divide (And Why It Matters)

Only 19% of collectors are in it primarily for the money. That means 81% are driven by passion, history, beauty, or that inexplicable need to complete a set that's been haunting them since childhood. This is both numismatics' greatest strength and its biggest (financial) vulnerability.

The Strength: Passionate collectors create stable markets. They buy what they love and hold it. They don't panic-sell when the market dips. They're the bedrock that prevents wild volatility.

The Vulnerability: Passionate collectors sometimes make decisions with their hearts instead of their heads. They'll pay premium prices for coins that scratch an emotional itch, regardless of whether those prices make financial sense.

The smart money (literally) understands this dynamic and uses it. When emotion drives 81% of your market, those who remain objective have significant advantages.

Coins Are King, But Why?

The fact that coins topped the collecting charts didn't surprise me. That was the case back in 2023 and much earlier when AC Nielsen conducted similar research for eBay in 2004. 

1. Universal Recognition and Accessibility: Everyone understands and handles money. You don't need to explain why a coin from 1910 is significant the way you might with a vintage toy.
2. Built-in Rarity Metrics: Mintage figures provide objective scarcity measures. When only 1,500 1930 Pennies were minted, that's not opinion - that's math.
3. Historical Significance: Every coin tells the story of its time. A 1942 Threepence carries the weight of wartime Australia in ways that transcend mere metal content.
4. Size and Storage: Try storing 50 vintage cars against 50 rare coins. Coins win on logistics alone.

The Demographics Don't Lie (But They Don't Tell the Whole Story Either)

The report shows collecting has achieved gender parity (51% male, 48% female) and spans all age groups. That's remarkable progress from the stereotypical image of the elderly gentleman hunched over his albums.

But here's what the demographics don't capture: collecting intensity varies dramatically. The 25-year-old who bought three coloured 2 dollar coins on eBay counts the same as the 65-year-old with a climate-controlled vault containing 40 years of systematic acquisitions. Both are "collectors" statistically, but they represent entirely different market forces.

The 18-24 age group leads in collection likelihood. This is real news and has the potential to be transformative. Young collectors approach the hobby differently - they're digital natives, comfortable with online marketplaces, and more likely to research before buying. (I am led to believe) they're also more prone to trend-following and quick decisions, which creates both opportunities and risks.

Investment Performance: Separating Signal from Noise

The report's headline figure - an average of profit in $13,000 over three years for collectors who made profits - needs serious unpacking. Note that qualifier: "...for collectors who made profits." This is classic survivorship bias. We're only hearing from the winners. And what is "profit"? Some of the quotes in the report made me think they're actually referring to turnover.

What we don't know:
- If 67% of collectors didn't sell anything last year, what's the distribution of data that led to a $13,000 average?
- How many of those collectors that reported a profit are simply working on catalogue values or advertised prices and don't actually have the cash in the bank?
- How many collectors sold and  *lost* money?

Digital Marketplace Dominance (And What It Means or Those of US Who Collect)

eBay's reported dominance as the preferred online platform (its used by a reported 65% of collectors) is nothing new, that's been the case for a few decades now. Despite what a lot of old fogies might think, online trading isn't inherently good or bad, but it requires adaptation. I'm more interested to hear what market share the social media groups, pages and marketplaces have as that's been the main change in online venue over the past decade or so.

Advantages of the Digital Era:
- Global market access expands both buying and selling opportunities
- Pricing transparency makes trading easier
- Authentication and grading services reduce fraud risk (though they don't eliminate it)
- Historical sales data enables better market analysis

Drawbacks of Online Only or Online First:
- Physical examination becomes harder before purchase, so grades can be harder to verify
- As the market becomes more efficient, it reduces arbitrage opportunities
- Traditional dealer relationships are less important for sporadic buyers of modestly-priced items

With all of this in mind, I reckon buyers and sellers should approach digital platforms as tools, not crutches. Buying online is a cinch, but we need to know enough to stay safe. Selling online can cut out the middleman, but we need to mitigate fraud risk.

Opportunities Analysis: Where Might "Smart" Money Go?

The report identifies 5 million Australians interested in collecting who haven't started yet. What will be in demand if they do become active?

New collectors bring fresh demand and different perspectives. Gen 2025 is not bound by traditional collecting dogmas (rarity over condition is an old one that comes to mind), the new areas they focus on are poised to rise from a low level. Predicting those areas and taking a position in them is a great opportunity. The 18-24 year old crew that's apparently keen is going to be interesting, what will they grow into?

Conclusion: What This All Means

Here's the bottom line, stripped of marketing speak and wishful thinking:

Numismatics in Australia is experiencing more mainstream acceptance than it has since the 60's. That's genuinely exciting and creates real opportunities for collectors who approach the hobby intelligently.

Coins remain what they've always been: fascinating historical artifacts that happen to be made of valuable materials and that some people will pay premiums to own. That fundamental appeal hasn't changed, even if the market dynamics have.

The eBay/Deloitte report confirms what many of us suspected: collecting is not just a niche hobby for eccentrics. It's a legitimate market with real economic impact. That legitimacy brings opportunities, but it also brings responsibilities.

My advice? Embrace the growth, but don't lose sight of why you considered collecting in the first place. Whether that was the thrill of finding a mule dollar in pocket change or the satisfaction of completing a difficult set, those core motivations remain valid even as the market evolves around them.