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Peter's Plastic Principle, et cetera.

RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
in PCGS Set Registry Forum
The original principle states that in a hierarchically structured administration, people tend to be promoted up to their "level of incompetence".

Pertaining to coins:
A coin, a.k.a. either a "shot" or a "lock", is not "maxed out" until it reaches a level one grade beyond its true grade? image

More jargon:
Plastic: The term given to any coin that is at least one grade above that which one finds desireable or affordable. image

Idiot: Anyone with nicer coins. image

Moon Money: Mo' money than available. image

Eye-Appeal: Coins in one's own collection. image

Some Idiot Paid Moon Money For No Eye-Appeal Plastic: Coins in another's collection. image

Comments

  • braddickbraddick Posts: 24,165 ✭✭✭✭✭
    RC- You hit the proverbial nail on the head.

    Coin Collectors are like licensed drivers.
    Everyone thinks they drive better than the next guy.
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    Yep. Oh well. What can one do?
    Now, with regard to the "pop top" commems in yesterday's Heritage auction, "Some Idiot Paid Moon Money For No Eye-Appeal Plastic"...
    ...on each of MY lots. image
    PS. (Some Idiot) got some great coins.
  • DAMDAM Posts: 2,410 ✭✭
    That's good! image

    And true! image

    You must be a Psychiatrist that spends a lot of time with coin collectors. image
    Dan
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    Reg. forum Doc is in. - 5c
  • wondercoinwondercoin Posts: 16,979 ✭✭✭✭✭
    RC: I WASTED my entire day yesterday (from 11:00 a.m. - 4:00 p.m. on the Saturday of the FUN show) sitting in the Heritage auction room on behalf of numerous collectors losing every Commem I bid on!! I stretched as far as I could go on several coins, including a couple coins in the $15k range and several other coins beneath that. Prices were very strong and it became clear that it only takes a couple new collectors entering a market to greatly affect pricing, where the new collectors seek the highest quality. The same notion has been discussed as it pertains to Wash quarters and the recent prices being witnessed. image Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    WC. Some commem collectors sent you on a "wild goose chase" yesterday in Florida? This is, in retrospect, correct. But you probably had more fun then us watching on our computer screens. It was just as unnerving here for us, I expect. Thanks for allowing us to put our best foot forward.
    Maybe the new hearty commem collector(s) will join us on the forum.
  • Steve27Steve27 Posts: 13,274 ✭✭✭
    The Peter principle doesn't apply where I work, most of upper management are two levels above their level of incompetence.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • nwcsnwcs Posts: 13,386 ✭✭✭
    Coin collecting is a lot like watching football:

    * You know what everyone should be doing
    * You're a better judge of the product than the coaches and players (grading people)
    * You rally around a team/company no matter how badly they perform
    * You demonize anyone who disagrees with you
    Blog and Pics
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