Registry Sets, What are they all about?

Bulldog

I know that I am going to get my butt flamed, oh well, so be it!

What is it about having ones coins posted on a commercial, third parties web site, in the form of a registry set? By the way, I think that this is one heck of a good commercial ploy by the registry sites owners, for collectors to buy Chevies instead of Fords. That part makes sense to me!

Is it all about MONEY and EGO, one or the other or both? I have plenty of Registry Type coins, but I do not have an advertised registry set or partial set. Is it the competition (ego), or something else? Whatever it is, it is lost on me.

In my opinion, the third party graders understand collectors better than I do, and provided for them, a vehicle that will sooth the collectors needs and line the pockets of the grading houses.

I might be able to understand registry sets better, if there was just one registry, by a fourth party, that assigned grades for each coin, no matter which plastic coffin they were in.

When I read on the boards, how members, on a regular basis, send the same coin(s) in numerous times to look for an enhanced grade amazes me. With the costs of submission, insurance and postge, this can not be economical. But perhaps the thrill of winning at all costs is that important. I do understand grade spreads, but in most cases the spread is so little, it hardly makes sense. Yes there are exceptions. I have been the recipient of some of those great spreads.

I know that I am going to pizz some people off by this thread. Please know that I question no ones collecting habits. I censor no one and choose not to be censored. I am truely interested in the basis of having and advertising a registry set, especially if it is not up for sale.

I do appreciate everyones comments, and perhaps after this thread, I will understand registry sets better! Thanks for your time and thoughtful responses.

Bulldog

Flash

Is it all about MONEY and EGO, one or the other or both?

In a nutshell, yes.

Pushkin

<< <i>Is it all about MONEY and EGO, one or the other or both? >>



Not necessarily - for me its a chance to have a little fun. For example, I have a very mixed set, XFs, AUs, MSs of all colors. I leave comments like "this is one ugly coin" or "I sure overpaid for this one", or "I've got the only MS-61 BN!" and "poor Miss Liberty really whacked herself shaving". So, for me its a chance to have a little fun, and maybe try to pull the tiger's tail a little.

I can't speak for others, but I would guess there are other motives, and for some money and ego are those motive, but lets not over simplify.

Personally, if the registry sets stimulate the hobby and help increase the value of my coins (yes, a little selfishness here), that is fine with me.

tompkins

Money? Ego? Something else? I think it depends on the collector. Maybe a little of all three. The "something else", in my case, is the goal to strive for (that is, completing a set of relatively high quality coins), and, eventually, fulfilling that goal. Could I do it without the registry? Absolutely!! But maybe that's where ego comes in. Though I prefer to think of it as an opportunity to share my collection (fully visible to all, including photographs with slab numbers) with other collectors. To me, showing only the one line grade of an entire set, without being able to see the individual coins or images of the coins is not really sharing anything, and, at the risk of treading on some toes, I would suggest that there must be more money and ego involved in those sets; and less "something else".

Pete

keets

...........it is all about the same thing as everything else in life------it's about whatever you want it to be about.

for me it's about telling other like-minded collectors "this is what i collect and this is my collection" and then engaging in discussion. it's led me to more knowledge about numismatics in general and my favorite areas in particular. it's given me the oppurtunity to meet some pleasant people, form some friendships and purchase some coins i would otherwise not have gotten.

if you want it to be all about "i'm the best and screw you" or anything else i assure you it can be and will be if that's your focus. real simple actually------the registry is like a box of chocalates.........

al h.

Spooly

Bulldog, isn't America great.... you don't have to have a Registry Set if you don't want one.


Read the below with a note of sarcasm:


MONEY and EGO Oh yes! Money, Ego and the Finest Known Coins where never a issue or part of coin collecting until PCGS started the Registry. PCGS and NGC have just ruined the hobby!

Pushkin

<< <i>Is it all about MONEY and EGO, one or the other or both? >>



"As you are, so once was I, as I am so will you soon be."

Found on a young lady's tombstone in a long abandoned section of a London cemetery (she died in her late twenties I believe). I have a suspicion ego and money will have little affect on any of us in a hundred years or so.

Fairlaneman

Well I suppose that if you do not like to look at coins I could just Hide the Set and then sit back and Stroke My Ego.

As far as the Money part I have little so that does not even enter into the assembly of the Registry Set. Coin collecting is what supplies enjoyment for me so the money is spent on coins and not something else that provides no enjoyment.

If I thought other people did not enjoy being able to view the coins the set would be dropped from the registry and will be if I believe others are not receiving any enjoyment.

Let me know what you would like to be done. Really I just do not understand why people cannot just let a collector collect the way he/she wants without thinking some other motive has to be involved. If a person wants to be in the Registry, fine. If he doesn't thats just fine also.

Ken

Pushkin

<< <i>If a person wants to be in the Registry, fine. If he doesn't thats just fine also. >>



Makes sense to me.

Just wish the descrimination against Plain 5 IHCs would end.

IrishMike

Doesn't pizza meoff in the least and I have some registry sets. I haven't spent one more dime on them then I would have if I didn't have the sets. There are coins I could buy and spend a lot of money on to get higher graded slabs, but wasn't my intention in starting them. I buy coins that I like and some ended up in my registry set. Only 10% of my collection is graded. Having said that, set developement has generated friendship, a great knowledge of the coins, and maybe most importantly, a realization of the cost in time and money.

The major downside to registry collecting is it has driven up the price of some coins to unimaginable prices which might be supported in the long run. On the other hand some MS and Proof coins have gave a measurable of value that in my opinion is warranted but will increase as interest in the sets grows. Time will tell.

As I have posted many times, its ok to question collecting habits as long as we make the effort to appreciate and learn what other collectors enjoy. I think its a bit of being to full of ourselves sometimes to think that our collecting habits or coins are the right ones for everyone.

dpoole

For me, a lot of it has been the camaraderie. You know how much fun it is to have some like-minded coin collector come over to the house with all of his stuff. You look at his/her neat coins, they look at yours, you ooh and ahh, you talk about 'em, exchange tidbits of information, pull out the loupes and look at this or that, tell each other about articles, gossip about the characters on the Boards, etc. I'm fascinated too about all the pedigreeing, tracking coins through their histories of owners and what happened en route. The walls have ears in this hobby, and everybody knows everything about such matters!

It's kind of like having a coin collecting friend over to the house, then, but on a grand scale. I'm met many more people who share my interests than would have been the case otherwise. I get emails from people, and we strike up conversations. We can look at each others collections, and see how they're doing.

It's all about having a good time, BD.

Well, OK. I gotta admit my ego gets a boost when somebody thinks my coin is cool.

mdwoods

King Solomon said vanity, vanity, all is vanity. Such as is your need to announce your non-displaying of coins. mdwoods

wallstreetman

Would you collect if you were the last person on earth?

relayer

I have two philosophy's about collecting:

1) In my type collection, I have cleaned coins, damaged coins, holed coins that would never make it into a holder but they are authentic and for the most part look good - and they are cheap. Plus out of the slabs, you can hold them and feel the weight. It makes them more real.

2) A collection should be focused and have the best examples of the coins.

The Registry makes you focus more instead of just buying coins. At least with a Registry set you know which coins you "need".

If you don't like the PCGS only rule, then you can play at NGC. A fourth party registry would be as accurate as ACG where everybody just submits their own grades.

I would like to see the registry split into at least two different levels and you could compete at either one. There could be a collector level and a serious level (also known as a rich collector).

Dog97

I used to do the PCGS Reg Rat Race but it made me have to buy too many coins that I really wasn't interested in.
Not all my Morgs are in PCGS holders so that set looked really puny.
I enjoyed doing the Modern Type Set but when it came to buying the 50 million different kinds of silver mint state, clad mint state, type 1 & 2 1976 quarters, jfks & ikes my heart just wasn't in it.
Since toned coins are popular nowdays & I have a few I started a toned Morg set at NGC since I can use both services. I don't crackout anymore and am not worried about grades. Last week I changed a toned 86 DMPL to a regular mintstate from a Wyatt Raymond holder and lost 135 points.
I don't know why I do it, I guess it gives me something else to do with my coins besides letting them sit up in the bank all the time. You tell me if this is MONEY and EGO

fcloud

I enjoy collecting, and I prefer to build a few registry sets. (I have joined both PCGS and NCG.) What is the difference what I do. It does seem to offend some people--I don't kno why but I have been bashed for doing it. I'm having fun and for some reason because it is fun for me to build a few registry sets, some people find it necessary to insult those of us whom build these sets. If it bothers you--don't look at the sets. Not all of my coins go into these sets. I like pre 1800 coins--I pick up any old damaged, bent, holed, or worn out pre 1800 coins I can, they are cheap, and they are a piece of history from the beginning of our country. These coins would never make it into a holder--and I don't care. It is not about plastic it is about collecting.

I also enjoy looking at the coins of others in the sets. There could be coins in there in which I would never have the opportunity to see or own. It is almost like going through a book or a museum.

I'm keeping my sets up and for the people who don't like it--simply don't go look at the sets. For me it has noting to do with money. I probably spend more than I should, and I will be happy at what ever level I wind up at.

Ken,
I have enjoyed looking at the coins in you Mercury Dime collection numerous times. Please keep you set posted.

Tony

Lakesammman

For me the registry has been a 2 edged sword. It's been alot of fun sharing coins with other collectors. I've met some nice folks as a result. The neg. has been the increased price on the coins. I've stuck with my original objective of completing a set of IHC's in 65/66 red (started in 1995) but the registry hype has increased the price to the point where I may have to quit short or "lower" my standards. Looking at the internet bid prices at the Heritage auction is a bit scary!!

Bear

The Registry is a form of competition that I find enjoyable. Kind of like a pea$ock spreading

its tail feathers. It may be a bit silly of me, but what the heck, Im just a little bear.

Flash

The neg. has been the increased price on the coins

I agree with that statement. Not only in the higher grades, either. I believe there is a trickle-down effect, as well. In addition, it has spawned a whole new phrase in numismatics... "Registry Quality".