I made a suggestion for Registry sets at the luncheon!

ksteelheader

It was not very well recieved!

My suggestion was to do a trial set of some series of coins, preferably something short, where the coin could only be put in the set if submitted and graded raw!

I guess this would not draw enough money from crackout artists!

I am now thinking of suggesting that they do a set like suggested for YN's only! YN's would be defined as anyone under 21 years of age!

What do you all think? Good idea or bad??

Ken

MadMarty

David says your idea sucks! So it must suck! How about Cook Island Dollars!!!

MrEureka

Bad idea. Nobody would refuse an opportunity to buy a slabbed coin they wanted. Participants would end up buying some slabbed coins, cracking them, and then reslabbing them. Why force collectors to incur the additional expense and risks of reslabbing?

XpipedreamR

<< <i>Bad idea. Nobody would refuse an opportunity to buy a slabbed coin they wanted. Participants would end up buying some slabbed coins, cracking them, and then reslabbing them. Why force collectors to incur the additional expense and risks of reslabbing? >>






Force them?

oreville

I did not understand the idea. There are enough free grading opinions offered by dealers and even David Hall that YN's can still do their sets (and even oldies like myself) raw and have a good idea of their grades.

Unless they are slabbed it would be difficult to "police" a registry set.

I have always suggested that PCGS offer a budget line of slabs (not called PCGS slabs but something else) in which the only two grades offered are Uncirculated and the various streamlined circulated grades. Now that is something YN's should consider!

But the difference would be that PCGS would offer no guarantee on the grades and that no coin should be worth more than $250!!

MrEureka

Ken - Would the coins in these Registry Sets get slabbed after being submitted raw?

ksteelheader

What I'm suggesting is that the coins have to be submitted raw, certified for grade, and then slabbed with the registry set owner's name on them to be considered for the registry set!

oreville

Ken: that is where you lost me. Same thing happened at the luncheon. I did not understand. What is the difference between what you just suggested and slabbing as per the normal approach?

JrGMan2004

<< <i>I did not understand the idea. There are enough free grading opinions offered by dealers and even David Hall that YN's can still do their sets (and even oldies like myself) raw and have a good idea of their grades. >>

I think the idea of the suggestion, is a Registry set specifically for YNs... how many YNs do you know that can afford 1916-D Mercuries in MS67FB? Or other similar rarieties? I have a decent coin budget, and it'd still be a HUGE challenge for me to even complete the Mercury Dime registry set... yeah, many other modern sets are easy to complete on a budget, but I think it would be better for the YNs if there was a YN only registry... I know that when I started on my Mercury set, I thought to myself, "How in the world can I ever complete this set on a budget?!"

<< <i>Ken: that is where you lost me. Same thing happened at the luncheon. I did not understand. What is the difference between what you just suggested and slabbing as per the normal approach? >>

I think what Ken is suggesting on this idea, is a registry set where you could ONLY register coins you MADE YOURSELF. I think it would be a really good idea for certain sets, but certainly not all... specifically, modern sets, especially say... 60s Proof coins? Statehood Quarters? etc. etc.

ksteelheader

George said it all correctly! I would like to see just one specific and achievable set! Maybe state quarters would be ok, but it would be very large and cost a lot in slabbing fees!

Maybe the way to go with the first trial one would be to do a circulated strike series for this year. Coins are affordable and available!

Just an idea, but I think it would be a great way to get the young people involved in the hobby!

Ken

MrEureka

I think what Ken is suggesting on this idea, is a registry set where you could ONLY register coins you MADE YOURSELF.

What's to stop a YN from cracking a slab and submitting the coin raw?

ksteelheader

<< <i>What's to stop a YN from cracking a slab and submitting the coin raw? >>

Nothing! But, they would be adding cost that most YN's could not afford to do. It would be no different than what happens every day with lots of coins. But, I do think most YN's would be above board in the honesty department!

Ken

MrEureka

But here's a variation that will work. What if YN's were given a year to build a set of raw clad quarters. Then, PCGS or NGC or a team of independent volunteers (I hereby volunteer) will at no cost grade (but not slab) each set and gives prizes to the best collections. Scholarships to the ANA Summer Seminar would be nice prizes. PCGS or NGC might even offer to slab the winning sets free of charge.

I'm betting that it wouldn't pay to buy slabs and crack the coins for the competition.

ksteelheader

Andy, great idea! It would be fairly easy to accumulate and not very costly!

Ken

oreville

I agree with Andy's approach as well.

I like the idea of slabbing the coins as big prizes.

That would indeed engage the YN's.

This would be similar to the High School Mock Trials in which students compete but in a friendly way and learn.

This might be the seed to get coin clubs active once again all over the country.

keets

hey Ben

my impression of the luncheon question and answer session was two-fold:

1. HRH seemed to be keenly aware of the fact that PCGS is losing market share to NGC and he wants to stay focused on getting the turnaround times lower. i thought it was important to note the number of submissions made prior to the ANA opening, all at an increased price!!!

2. HRH seemed to reveal his achilles heel by a willingness to entertain the thoughts and questions from the high rollers in the room while down playing questions like yours and some others from lesser customers.

while that makes good business sense, it also tends to rub me the wrong way. PCGS will eagerly holder some U.S. Mint medals such as the recent Silver Wildlife series and the mid 70's gold issues, yet they stubbornly refuse to holder SC$'s struck at the Mint, struck by Mint made dies, designs from Mint employees and issues struck at Mint Exhibits. why are some important and others not??

i've asked this question at the Q&A forum and couldn't even dignify it with an answer. from the tone of the luncheon, i decided not to bother even asking it there.

al h.

MrEureka

PCGS will eagerly holder some U.S. Mint medals such as the recent Silver Wildlife series and the mid 70's gold issues, yet they stubbornly refuse to holder SC$'s struck at the Mint, struck by Mint made dies, designs from Mint employees and issues struck at Mint Exhibits. why are some important and others not??

Could it possibly be that nobody is ready to submit thousands of so-called dollars? It surprises me how often people forget that businesses are SUPPOSED TO maximize profits. Sheeze...

keets

.........we're ready!!!

al h.

IrishMike

or make a profit.

scher

Al I thought he was pretty open and also a little political when he couldve been rude about some ideas he seemed to not care for..It was cool meeting alot of the guys from the boards..Bruce Scher

keets

hey Bruce

i didn't mean to imply that the questions by Stewart and others weren't important, i actually enjoy the jousting he does with HRH and his wit is sharp!!! in hindsight, questions like Ken's may have better been directed to BJ at the PCGS table or via phone/e-mail/PM at about anytime. her focus is the Registry and i've always found her to be courteous and receptive.

al h.

scher

Im with ya Al..and Bj is super good on that stuff..
bruce

GoYankees

<< <i>
I am now thinking of suggesting that they do a set like suggested for YN's only! YN's would be defined as anyone under 21 years of age!

What do you all think? Good idea or bad??

Ken >>



Most of the time a YN's collection is based upon how much his/her parent(s) are willing to spend. Rich kids would have the best coins (better than some adult collectors). Therefore, if a YN wants to start a set, would it make any difference if that set is a in a standard registry?