Musings about registry sets

SimonW

I spent way too much time this morning looking at some of the registry sets listed in the PCGS and NGC registries. It's really a fun thing to do, some sets are SO well curated...others are not.

I saw an individual with well over 700 active sets. Most are sparsely populated. That seems odd to me. For what reasons would you want to pursue that many sets? Seems like an impossible task on any budget.

I've seen a number of participants with 500+ sets. I'm sure there are others that have even more. Most people are working with less than fifty sets, a handful of them being actively worked on. This makes sense to me.

Why have hundreds of sets? Can anyone actually do anything significant with that kind of shotgun attempt?

TomB

I can't speak for folks with hundreds of registry sets. However, PCGS offers a feature that will take every coin listed in one's registry inventory and will find every eligible set that those coins fit and will start the sets for you. So, these folks with so many registry sets might have that feature enabled and PCGS automatically starts the sets for them.

Yorkshireman

@TomB said:
I can't speak for folks with hundreds of registry sets. However, PCGS offers a feature that will take every coin listed in one's registry inventory and will find every eligible set that those coins fit and will start the sets for you. So, these folks with so many registry sets might have that feature enabled and PCGS automatically starts the sets for them.

That makes sense.
You can be highly ranked without even trying…

SimonW

@TomB huh...that makes sense. Do you know if that's a function with ngc as well?

7Jaguars

I guess I just think whether hundreds or many fewer Registry sets that they are a fool's mission with far too much money tied up into them, feeding on insatiable egos. There certainly seem to be a share of false impressions about the collections included and how they rate to the actual best collections of whatever series. But whatever sells I guess....

1960NYGiants

Correction to @TomB . One needs to upload their inventory. Then, click on the "start a set" link on your dashboard. PCGS will then list all the sets you can start based on your inventory. Once your sets are started, when you add inventory there is a box to "add these items to all of your existing sets..."

Clio

@SimonW said:
I spent way too much time this morning looking at some of the registry sets listed in the PCGS and NGC registries. It's really a fun thing to do, some sets are SO well curated...others are not.

I agree. I often enjoy checking in to see if users have made updates or improvements to their sets. Those with lots of trueviews are especially nice.

Why have hundreds of sets? Can anyone actually do anything significant with that kind of shotgun attempt?

Just them using a feature of the registry where you are prompted to start sets since you have coins in those sets. I rarely worry about sets that "happen" to include a coin of mine.

https://www.pcgs.com/setregistry/clio/othersets/62351

These are mine if you care to have a look! I do wish more people participated. I really enjoy the fun of seeing what is out there and how my collection stacks up.

SimonW

Some really great coins @Clio ! Thanks for sharing! Your coins are truly beautiful!

jgenn

NGC has a Top Coin Collectors list. I suspect the collectors you see with many sparsely populated sets are competing for the overall points scores.

From NGC:

"NGC Registry participants receive an overall ranking based on the total score of all coins registered in their competitive sets. Coins entered in multiple sets are counted only once. (If a coin has received different point scores, the highest score is counted.)"

Exbrit

@SimonW said:
I spent way too much time this morning looking at some of the registry sets listed in the PCGS and NGC registries. It's really a fun thing to do, some sets are SO well curated...others are not.

>
What were some of your favorites that you looked at?

neildrobertson

I think some people will start a set if they have a coin that fits in it without any intent of completing it. I don't really see any harm in this.

neildrobertson

@7Jaguars said:
I guess I just think whether hundreds or many fewer Registry sets that they are a fool's mission with far too much money tied up into them, feeding on insatiable egos. There certainly seem to be a share of false impressions about the collections included and how they rate to the actual best collections of whatever series. But whatever sells I guess....

Both the NGC and PCGS registries are still sparsely populated for world coins, but they've both been consistently growing over the past 10 years I've been paying attention. Early adopters in anything rarely get the full benefit of the new technology or product they are using. Anything still emerging always appears to be foolish on face value. Was early computer software worth the exorbitant sums that were paid in the early 80s? Early adopters that commit to optimism and push us forward and prompt change are the ones that drive us into our established ecosystems and well-trodden routines. If any of us waits until the registry is already flushed out and top class to participate, then they are just benefiting from the efforts of those who did before...

I would be cautious to criticize early adopters. They play a necessary role in progress. And we aren't always paying the exorbitant sums that is assumed.

7Jaguars

Your point is taken but I really don't care for the kow-towing to the TPGs and not sure they are actually the authority in such but rather somewhat of a warehouse for those coins graded. I think there are probably a lot of corrections that are due in grading and rating, and of course the problem with subjectivity which is a bit of an ugly. There are some areas where the designations and assessments are in need of "adjustments" IMHO - but will add such sentiment is held by more than just me and don't care to elaborate further.
And you will note that probably all the top ranked collections can only be called as such with huge caveats, or at least in the Great Britain section that I know (the caveats are that whatever Registry Set is compared ONLY to other registered sets) and may not be near to the top of actual collections.
Perhaps there is a way for the TPGs to somehow lure out the really top notch pieces from the UK and possibly from here? I really don't know.

coinkat

Initially I did not really like the concept of a Registry set. I changed my mind and simply have an alternative view. I do not see it as a competition. Instead, it is about sharing the possibilities of what can be accomplished. If one accepts that a set does not have to be the highest rated, there is still significance in capturing coins at various states of preservation. There is still much to be learned about the surviving population of coins from several historically significant series.

sellitstore

I don't participate in registry sets or buy much certified material but see these as a win-win for TPGs and collectors. TPG's have a great marketing tool that increases sales greatly and collectors are provided with useful information and fun. Sure, there are negative aspects (e.g. "top pop" claim abuse) but overall this has been good for both groups.