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Starting my journey in Registry Sets

Danno44Danno44 Posts: 19
edited September 1, 2020 5:26AM in PCGS Set Registry Forum

I have been debating with myself on this for a while.
I basically have used a shotgun approach at acquiring coins over the past 15 years.
Example, every proof set from 1959-2020, every ASE burnished since it started in 2006, as well as a bunch of ASE proofs, UNC and silver commemoratives, etc etc ...
My self induced dilemma is to start cracking sets and submitting to start registry sets.
I know financially not the best choice in say my complete sets of bronze first spouse medals and Presidential dollars, I’ll never get back what I would pay in submissions, I accept that. None of my kids or family care about my coins so they’ll end up being sold after I’m gone anyway.
Add to the fact that 90% of the mint and proofs sets are not worth much in OGP.
I feel going towards registries in the long run would keep me focused in acquiring only those coins to build upon instead of my current non-focused purchases.
I’m leaning this way for 2 reasons.
A. I need to focus more on
quality over quantity.
B. Studying and learning how to grade better and focusing on a specific sets would, I feel, add to the enjoyment.
I know this could takes years to do correctly, and money. I have more time than money, but don’t need to complete anything overnight so I can spread the cost out.
So after that narrative, am I missing anything in my thought process?
Pitfalls I’m not thinking about?
And unless I hit lotto I’m aware some registries are out of reach for top ten let alone top 5.
I apologize for long post, I just wanted to supply as much info as possible upfront.

NOTE- Mods if I’m wrong section of forum, I apologize and please move to appropriate section.

Comments

  • PQueuePQueue Posts: 835 ✭✭✭

    Get out of Moderns.

  • Tom147Tom147 Posts: 382 ✭✭✭

    I have to RESPECTFULLY disagree with PQueue. It's been said countless times on the forum, collect what you like. I to collect moderns. My budget won't allow me to collect 18th and 19th century coins. I could, but the thought of buying 4 or 5 coins a year at this late point in life doesn't appeal to me. As I'm not interested in my heirs making a fortune, I'm collecting for myself. As for the idea of " cracking " sets and submitting for grading, I'm thinking this isn't the way to go. The thought of adding $ 20.00 + in grading fees to each modern coin doesn't seem to me to be the smartest idea. I suggest picking a type, be it Lincolns, Roosies or Kennedys, get an eBay acct. or Great Collections and buy graded ( preferrably PCGS ) coins.
    Moderns you won't have any truly scarce coins. Yes, some are expensive but alot are fairly cheap. You can complete a set in a relatively short period of time. Can't do that with 18th & 19th century coinage. Again, have fun by collecting what YOU want to collect.

  • Tom147Tom147 Posts: 382 ✭✭✭

    I say again, no disrespect to PQueue, if I could afford it I would be collecting early coins. Just not possible for me.

  • Tom147Tom147 Posts: 382 ✭✭✭

    I forgot to address the Registry aspect of the OP. I do have 4 sets ranked in the top 10 ( yes, they're moderns ) None of the coins in any of these sets cost me 4 figures. So Danno44 yes you can compete in the Registry without buying high dollar coins. Have fun and enjoy your collecting endeavors.

  • @Tom147 you make some good points.
    I’m appreciative of the discussion so far, and some further food for thought on how I approach this.

  • CatbertCatbert Posts: 3,433 ✭✭✭✭✭

    Choose your registry plan wisely. I suggest maybe a year set (type or series) that requires a small number of coins. Then, once completed, you can build offshoots from it potentially. Focusing on quality over quantity is the right way to go, but it takes self discipline.

    I dislike the constraints of most sets that would require me to buy coins that I don't particularly care for (example the basic U.S. type set includes moderns - who am I satisfying by filling holes?). I also don't play the competitive aspect of the registry preferring to use it for display purposes primarily.

    You may not be wired this way and most who play in the registry aren't either. Just giving you another perspective.

    "Got a flaming heart, can't get my fill"

    https://www.pcgs.com/setregistry/catbert/imagegallery/24976
  • cameonut2011cameonut2011 Posts: 7,761 ✭✭✭✭✭

    A registry set in moderns is going to chase after MS and PF70 coins which are only infinitesimally higher in quality than MS/PF69 coins although that too is debatable. If you submit a MS/PF70 10 times, it is unlikely to come back a 70 each time. You also likely won't be able to tell the difference if you aren't already an expert or semi-expert grader. All in all, it is a money trap. You will only end up getting burned financially with very rare exceptions.

  • Much like the OP...I started in a specific year...namely My birth year of 1957
    The lower number of coins in the nickel and dollar sets were the first to be completed in PR70DCAM...
    The Proof Set that really got Me going toward perfection was the same set that ignited My collecting...namely the 2006 Proof Set which contained the North Dakota state quarter - My first yearly Proof Set in PR70DCAM

    As a member of Set Registry for only 9 months...I now have 7 Top Rank Sets...and for a total of 1 day I had one in the Top 5 and was Set Leader for a few days with another and several are closing in on Top 10

    Pick Your poison...collect what You want...and above all - Enjoy !!

    A target and measuring stick for a great many collectors is the DL Hansen collections...I take great pride in the fact that when a single coin was added to Set Registry several weeks ago I not only took a giant leap...but in the same single coin I dropped DL Hansen from Top 5 to 36th and as of this writing I'm only 5 spots below him at Top Rank

  • Thanks again everyone. Your posts certainly have me thinking.
    I really like the idea of finding one small set and grow from there.

  • JonJetJonJet Posts: 49 ✭✭

    Regarding Your proof sets...and knowing the market for them is slim and usually less than US Mint value...

    Some simple grouped listings on eBay (say...for a 5-year spread or a decade of proof sets at a time) will likely reap a small amount of funds that You could then use to purchase PCGS graded coins

    There are still grandparents who collect proof sets and love to give them as Xmas gifts...and those collectors of unlimited means are always looking for proof sets to submit to PCGS in large quantities

    If You have a local coin dealer they may be able to help You get raw coins graded by PCGS at a discount in a group submission...a local coin show will probably lead to a source if You want to go that route and Google may lead You to a local club

  • @JonJet thanks for reply. I’m continuing my research and before I turn loose a bunch for sale, want to make sure I’m not selling something with potential.
    None of my silver proofs are going anywhere for sure.

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