Is it time to abandon the Registry?

relayer · May 2, 2003 2:02PM

I've seen a lot of Forum members disbanding their sets lately.

inneedof70s, Russ, dabigkahuna are among those I've seen selling their Registry Sets.

Is the Registry on its way out?

LucyBop · May 2, 2003 2:02PM

more registry for me!

dpoole · May 2, 2003 2:10PM

I doubt it. I think it's just the first "cycling," as people reach their goals, wish to move on, and leave the field for the new ones enjoying the challenge.

docday2003 · May 2, 2003 3:36PM

I sure hope it is not on its way out, as I've just started!

Cocoinut · May 2, 2003 4:57PM

I don't think the Registry is on its way out, but if interest rates begin to climb, or if the stock market revives, you will see people that have substantial sums invested in coins begin to sell. That would put some nice coins back on the market, and prices could drop. Coins are fun, interesting, and beautiful, but they are a non-producing asset. The diehard collectors, and those that are well-heeled, will continue to buy coins and participate in the Registry, just for the sheer enjoyment of the hobby.

Jim

jonesy · May 2, 2003 10:15PM

Abandon the Registry!!

Are you Nuts!!

Glenn

littlewicher · May 2, 2003 11:23PM

There's currently 6358 sets listed. Even if everyone owned 10 sets, which most people don't, that would still be over six-hundred people participating in the registry! That's a lot of people, and even more will participate, so I think there will still be a good market for registry coins.

pontiacinf · May 2, 2003 11:36PM

abandon...no...just getting cash for extras while the moment is right

CarlWohlforth · May 3, 2003 12:18AM

I downgraded a set to raise cash to help me with my type set. However I am filling the holes I created in my proof Jeff set.

Since many of us enjoy hunting down coins we get a little feeling of anticlimax when we finish a set. One can continue to upgrade it or move on. If people move on they often sell their set to raise cash for their new venture.

tgilliams · May 3, 2003 12:19AM

At least one of the above over spent building one of the finest sets. Just regrouping and he'll be back.

Russ · May 3, 2003 1:17AM

I sold off some of my sets because, well, I have a short attention span. I also seem to enjoy the hunt as much as the ownership of the prize. That, combined with what seems to be a perpetually thin wallet means that if I want to keep having some fun, I need to sell some coins from time to time.

I still have three sets in the registry.

Russ, NCNE

ClausUrch · May 3, 2003 1:27AM

More like "Lateral Movement" for me. Like Russ, I've completed my set and have become impatient (and slim on funds!) and would like to start on new endeavors. The thrill is in the chase!

inneedof70s · May 3, 2003 1:58AM

I'm with ClausUrch. I'm not abandoning the registry. I'm selling off the MS70's in my silver set to continue the gold set and maybe move up to ...

...The Classics...

...

shirohniichan · May 3, 2003 2:28AM

I just started my Canadian sets with a few coins. I'm not going to "abandon" them, but, then again, I never really got whole-heartedly into them. Most of my registry-quality coins aren't even slabbed, and, unless I decide to sell them, they never will be.

Dabigkahuna · May 3, 2003 4:30AM

I think that the Registry is just beginning to get interesting.

I have sold or broken up several sets this last month due to an unforeseen tax problem. My SBA's, Gold Type Sets and most of my 70's are gone but I still plan on hanging around.

Right now I am working on several Canadian sets. It looks like I have to have everything slabbed by PCGS since there just isn't much out there in PCGS at the moment.

I was fortunate enough to have had some of the number one sets in the American Gold Eagles and even though I made the decision to sell the 70's I still have the complete set in MS69 and that is what I started out to do in the first place.

I like the idea of starting over on some of the type sets. Maybe one of the shorter sets again like the 20th Century but I am going for coins that I like visually more than chasing the grade.

Larry
Dabigkahuna

Bear · May 3, 2003 6:09AM

The Registry is a great boost to the hobby. There are many reasons for a person to sell

a set. For some of us, after you reach the status of a number one set, their is really nowhere

else to go with the set but get buried with it or sell it. Actually selling a top 10 set accomplishes two

things; one is to make funds available to pursue other interesting aspects of numismatics. The

second item is to make low pop coins available for other collectors to purchase them and get closer

to achieving their own personal goals. If not for a collector selling his own magnificent set, I could

never have achieved my own status of the #1 Pr Kennedy Set. In my 30 years of collecting,

I have moved in and out of a number of different areas of collecting and have enjoyed each area.

Have I made mistakes along the way, sure I have. I still make mistakes, but I have fun and on balance

I have even made a bit of money overall on my collecting. How many hobbies can you think of that

you can break even on, or make money on?

tgilliams · May 3, 2003 6:40AM

One is selling to pay some bills and the other is probably taking out profits. I don't see this as a trend. Wondering why a few high grade collections leaving the Registry spells the demise of it.

Not sure your logic, must be some some facts you failed to mention. Could you go into more depth, there must be more for you to come to this conclusion. You could be right on target, but give us some concrete facts.

About 6 months ago there were a little over 5000 sets on the Registry and now at or above 6000 sets. How do you explain this trend?

itsnotjustme · May 3, 2003 6:43AM

Not time at all... They would have to disband 6,362 sets!

braddick · May 3, 2003 6:51AM

300 sets could be abandoned and that would leave 95%+ still intact (not including the new sets entered daily).

You'll see 10,000 sets Registered within two years but will NEVER see the Registry dip under 5,000 sets.

It's just too popular and strikes a cord with too many casual and serious Collectors.

TWQG · May 3, 2003 7:35AM

No.
Just reaching goals and moving on. I just landed in the complete type coin set which should keep me busy for a while.

dbldie55 · May 3, 2003 7:47AM

The novelty may wear off for some, others will complete one set, then sell and move to another, and others will just concentrate on certain sets. I don't think the registry is going anywhere anytime soon. As it grows, it may lose some of the glamor in some areas as many sets become listed, but other areas will always draw attention. When it matures, there are so many things that can be done to enhance the idea, like creating virtual galleries of the finer sets, that it could become a premier online coin museum.

relayer · May 3, 2003 9:32AM

I have 33 sets registered and 30% of those are retired.

It seems like there are about 1000-1500 people participating and maybe hundred active builders and sellers of different sets.

So I contribute 33 to the total count, 13 are deleted and the remaining 20 mostly contain the sames in type sets and variations.

I agree with dd55 - it would be nice as a virtual coin museum, and that's what I thought it would become. But with some exceptions, you don't see a lot of top classics listed.

Where are they?

ohbaby · May 3, 2003 3:41PM

Not abandon but resting you can say. I still have my 3 sets up and am years from completing some tough sets.

I have come to the realization that completing a set is some times a handicap. I feel the "need" to buy coins I may not necessarily like, especially if they are condition rarities. That means passing up lots of other nice coins.

So I decided screw the registry I am going to buy what's nice which means NGC coins and some dupes but they are all going to be appealing. Over time I guess I will sell of the ones that fit my registires but not liking.

Is it time to abandon the Registry?

Comments