Okay so what's the deal with pedigree?

inneedof70s · February 13, 2003 1:59AM

I'm sure this has been covered 100 times, but not with me.
Is it a good thing to Pedigree your set?
I just wonder if you ever wanted to sell it, does it make it worth less or more?
Do the coins have to be reslabed to do this? I would love to hear some thoughts on this from collecters AND investers.

Sorry to bring up what's probably a dead horse, but I didn't get to ride it yet.

tradedollarnut · February 13, 2003 2:03AM

Do the coins have to be reslabed to do this?

No, they just write the pedigree on the front with a Magic Marker!

Just kidding - yes, they must be reslabbed.

EVillageProwler · February 13, 2003 3:12AM

I may be in the minority on this -- don't know for sure -- but I only want the pedigree on the insert if the collection referenced is a major one whose owner is deceased.

If the pedigree notation is of any random person, then I probably would find that a detraction.

For example, I own specimens from Russ Logan and Jim Matthews. Both had major collections in his area of specialty. Mr. Logan passed away early last year, and I had his coins pedigreed. Mr. Matthews is alive and very healthy. His coins are not noted on the insert.

EVP

Steve · February 13, 2003 3:52AM

IMHO, the pedigree program that PCGS has is for those collectors who have just about complete sets and INTEND TO KEEP THEM FOR MANY YEARS. There are only a very few collectors whose pedigree would be of interest to a new buyer of the coin. My suggestion is do not pedigree your coins unless you plan to keep them long term. You will find that you will not get as much money when you sell them unless they are a "top pop" and the buyer sees an opportunity to make more money if he relabels. Steve

WashqrtrsRme · February 13, 2003 4:12AM

I believe that pedigreeing is a personal choice for everyone who considers doing so. I am not a collector who can go out and buy coins worthy of the stature of collectors like Eliasburg or some of the other well-known philanthropist collectors. I pedigreed only for personal satisfaction. I would venture to say that if you were considering buying a pedigree coin from a famous collector/collection, chances are you'd pay a premium for that coin because of that particular pedigree...it is well-known, and possibly highly sought after by the collecting community. You would not pay a premium for any coin in my set based on my pedigree alone. For me, my set had reached a point that I was happy with. I set a personal goal to make my set something I was satisfied with, in grade and in eye appeal. I never set out to be in the top 5 of my series, it just happened (honest!) In my case, I bought only coins I knew I'd be happy with, so then when my collection got to the point of it being where I wanted it to be and I happened to be in the top 5, I then decided to pedigree it. If you are among the top 5 in a particular series and 100% complete (of course), PCGS will pedigree and re-holder the set for free, you just pay for shipping and handling...not a bad deal. I did not pedigree my set thinking it would hold any financial bonuses for my future, or for my children's futures. I'm a collector first, and like everyone (or most everyone, I think) I collect because I enjoy it very much. I never got in it to make money. I take pride and satisfaction in having a nice collection. Being able to add my pedigree name was just something I chose to do. For me personally, it meant I had accomplished what I had set out to do (but I'll never be done!) in getting the nicest coins in the best grades I could afford...nothing more, nothing less.

Pedigreeing: Good vs. Bad?...it's all a matter of opinion I think, like many things in coin collecting are. I do not think it's necessarily good or bad. You may like a coin I may not. Same with pedigree holders...you may not like seeing a pedigree name on my holder, but that is your choice. Does it add to/take away from someone wanting to buy a coin in a pedigree holder? I don't really think it should, but that's me, maybe not you. Again, I think that is a personal choice the collector looking to buy must make...it's all about personal preference. I think that if you like a coin well enough, you'll buy it, even if it's in a pedigree holder. Once it becomes yours, you can have it re-holdered for 5 bucks and have the pedigree removed...that's pretty painless!

Tom Schiera

gmarguli · February 13, 2003 4:20AM

If you're a nobody and the coin is pedigreed, it is worth less to me. I'll discount the value of the coin by the time and expense that it will take to get the pedigree off the insert.

However, if it is a famous person, I wouldn't discount it nearly as much.

khayse · February 13, 2003 8:22AM

> You will find that you will not get as much money when you sell
I love arguing this every few months. A pedigree should not lower the price
much more than the $5 reholdering fee by any rational person. For the large
majority of my coins I don't see how I would even notice a $5 price swing.

JMO,
-KHayse

MoneyLA · February 13, 2003 8:25AM

I pedigreed my proof washington set when it was #1 -- and then I sold it. I think the buyer wanted the coins in the pedigreed slabs so he could show the next buyer that he indeed was selling the #1 pcgs registry set. but what has happened since then, I dont know.

frankly, I dont want anyone else's pedigree unless it comes from one of the giant collectors/collections.

I really dont think anyone else wants my name on their slabs either.

But while I held my collection, seeing my name on the slabs was a hoot and worth the cost of shipping. the reslabbing was free at the time.

cheers, alan

inneedof70s · February 13, 2003 8:26AM

Thank You all for your input. Maybe I'll just pedigree my set with some name like.....oh.....I don't know.......The Madonna collection, or would that drop the price TOOmuch.

MoneyLA · February 13, 2003 8:27AM

Dont laugh... I thought about slabbing mine the Elvis Presley Collection, thinking that would make the price soar on ebay. cheers, alan mendelson

wondercoin · February 13, 2003 8:31AM

I posted this on the other board in answer to a question about pedigree. I thought it might fit in a bit here as well:

I just paid around a 5%-10% premium to get an Eliasberg pattern coin. I didn't want to, but I did

Personally, there are other neat pedigrees out there I would gladly pay 10-20% premium (or more) for. For instance,

1. A John Benbow pedigreed Wash Quarter. John was a pioneer in all this (MS Wash quarter high end craze) back in the mid to late-1990's. When he sold his landmark entire MS Wash quarter collection to Richard Green (now many years ago), the vast majority of the coins got changed at that time to a "Richard Green" pedigree. Few coins exist with Benbow's original pedigree on them and the couple I personally own, I really enjoy.

2. "Richard Green" pedigreed Wash Quarter - Richard really cared about quality. I can't think of any other Wash quarter pedigree I would care about owNing at this time (Registrycoin did not pedigree his coins before selling them) besides RG (and JB).

I really do think that contemporary pedigreed coins in the series one is most interested in will be highly popular in the years ahead. For example, owning a "High Desert" pedigreed type coin might conceivably carry the same weight as an Eliasberg coin in the years ahead Wondercoin

NOW, IT SHOULD BE NOTED, MY FASCINATION WITH THE BENBOW OR GREEN PEDIGREED COINS MIGHT BE NO DIFFERENT THAN PURCHASING A VERY OLD "SAMPLE COIN" OR SOMETHING LIKE THAT -THERE IS A NOVELTY ASPECT OF IT I THINK IS NEAT.

MoneyLA · February 13, 2003 8:43AM

Wondercoin wrote:

"I can't think of any other Wash quarter pedigree I would care about owNing at this time."

that hurt, Mitch. And to think that a couple of those came from you?? alan

wondercoin · February 13, 2003 8:55AM

Alan: You did not have a Mint State Wash Quarter collection!! As you know, that is what I collect predominately. Of course, I would have "killed" for your 1936 pedigreed quarter

Wondercoin. P.S. Tom S. is well on his way to fame as well and perhaps I need to rethink my position, especially as it pertains to a certain 35(s) quarter

WalkerGuy · February 13, 2003 9:11AM

I really like the older holders, doesn't change the coin, but somehow they just look neater.
Putting my name on the holder is only an ego thing to me. Am I wrong in that the Eliasbug stuff was pedegreed only to be put into the sale, I guess a lot of it was raw and it was going to be slabbed anyway.
Having the name of an acknowledged numisist is neat, but I got caught with an Eliasburg coin that was of a low pop and was acknowledged as overgraded. Guess what? It was a tought sale!
I have the #1 sets - late date and short set in Walkers, but I think the old holders and history where I can establish it, with the coin makes me want to keep them "as is". JMHO.

Dick

rwhite · February 13, 2003 4:23PM

Mitch- And if I had pedigreed my set before I sold it to Steve, you would add my name to that list, right?!?

MoneyLA · February 13, 2003 4:45PM

Wondercoin wrote:

"Of course, I would have "killed" for your 1936 pedigreed quarter."

Thanks, Mitch.

Fact is, a collector isn't a collector until he knows that Wondercoin wants his stuff!!

cheers, alan

wondercoin · February 14, 2003 12:23AM

"Mitch- And if I had pedigreed my set before I sold it to Steve, you would add my name to that list, right?!? "

Ryan: I "take the Liberty" of referring to your coins as an "ex pedrigree" already (as you caught the other week)

Of course, there are no "Ryan White" coins slabbed on the market to even consider buying -- YET

Wondercoin

Mark · February 14, 2003 10:02PM

I actually find some pedigrees useful. In particular, in my Mercury dime collection I have several coins pedigreed from the "Stokely Collection." While his wallet is much thicker than mine, I have discovered that his taste in coins is similar to mine. So I now go out of my way and will pay a premium to buy coins pedigreed from his collection because I have a good idea of the quality to expect. So, even setting aside the neat (to me) historical aspect of a pedigree, if you can find someone whoses taste is similar to yours, a pedigree seems a useful attribute.

Mark

Stooge · February 14, 2003 11:21PM

Good point taken Mark, now thats why you are holding your breathe until you obtain one of the great Paul Gunsallus pedigree modern Roosevelts, right?

Paul.

Mark · February 15, 2003 3:49AM

Paul:

I almost added another paragraph saying that I also would like coins with pedigrees from collectors that I know and like. It would be fun to have a coin with your name on it. And, because a large reason I collect is because I enjoy the process, having coins with pedigrees from friends is simply another positive attribute.

Mark

inneedof70s · February 15, 2003 5:22AM

you have all been a great help in my decission. I think I will hold off on pedigreeing my sets and when I have a few more respectable sets I'll take another look at pedigreeing. Maybe there should be a new regestry set. One of each pedigree so far. ooooohhhhhhh that baffles the brain to think about that.

Okay so what's the deal with pedigree?

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