Do population reports make the hobby a better place?
MrEureka
Posts: 24,252 ✭✭✭✭✭
On the one hand, pop reports help us make intelligent buying and selling decisions.
On the other hand, pop reports make it more difficult to buy the coins you want. For example, you may know a coin is rare based on twenty years of experience and then get outbid by a newbie with a pop report and a fat checkbook.
On the other hand, pop reports make it more difficult to buy the coins you want. For example, you may know a coin is rare based on twenty years of experience and then get outbid by a newbie with a pop report and a fat checkbook.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Comments
I raise both hands ... the first one says "Great Reference Tool"
.............
the second one says "I hate it when that happens" !! (and of course, unfortunately, it does)
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I think it adds to the interest of the hobby but unfortunately, as we all know, it's accuracy is always on the decline. Nobody's fault
but those who don't send the crack-out tags back in.
Great transactions with oih82w8, JasonGaming, Moose1913.
You may also know that the next auction lot is a dog for the grade, while that same newbie is happily bidding strong money on an overgraded coin. There are plenty of opportunities for you veterans to make a score, leave us newbies our pop reports!
--- WingNut
Fact is the pop reports are somewhere between not very accurate and truly absurd given the number of regrades, resubmissions, crack-outs and the like. So I ignore them.
Good because it tells you how coins have been certified in such grades for specific series/year/mintmark.
Bad because it did not tell you the following:
1. Pop report will never be static always dynamic for every series/coin/year/mm. Yeah I know everybody knows that.
2. Does not include Other RESPECTED TPG numbers. So 2003 lincoln MS69 with pop 1/0 (Just an example) actually does not mean it is the only grade 69 existed for that coin. See number 3.
3. X number of that coin (In thousands) still setting somewhere and never submitted for grading for any reason or another. The recent submissions show even a coin 120 years old can have many coins still out there for many reasons have not been submitted.. Just an example the recent 1894 morgan and hundreds of 1968, 1969 and 1970 submitted recently.
So pop report has its advantage and disadvantage.
Just my opinion.
Price wise....what can you say about the newbies and the quest to acquire quickly at any cost.
Ken
For modern coins, they set an un-realistic expectation of rarity.
For other coins, they are a good tool especially showing the range of graded samples.
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<< <i>For modern coins, they set an un-realistic expectation of rarity.
>>
Come on. No one thinks a 1971 PR half dollar or a 1976 quarter are rare just because
there are few graded on the high end. By the same token the modern rarities often
don't even get slabbed and the grade rarities are not fgoing to become common just
because most of the market ridicules them.
<< <i>They are useless because they're not accurate. >>
So a collector was better off back in the early eighties without the report ? For some stupid reason I think both the collector and seller has a use for the reports even if they are off.
Ken
Not great for rarities or super moderns.
EX: 1893 S Morgans,tons o crack outs
EX: 1999 S Delaware SHQ,zillion of them and more to come
EX: 1957 Proof CAM Lincolns,older coin,hard to come by,thinly traded, few collectors but enough to make it interesting.
The 57 Lincoln is going to be the most accurate POP listing.
michael
overall better for the hobby but the pop reports must be read with an educated and understanding eye
Michael, your comment was short, sweet and right to the point.
Pop reports are just another set of numbers that must be factored in with other statistics. As others have said, don't forget about crack-outs, resubmissions, etc. More importantly, especially on cetain coin series, remember that some coins are just not submitted for grading. This is especially true for colonial coins. Some of the finest known Colonial issues are locked up in private collections. Even though the pop reports may show an MS-66 for a certain Colonial coin, a finer coin (probably more accurately graded as Ch. BU or MS-63) probably exists in an old coin cabinet somewhere.
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BTWm I call it the "slop report" for the reasons that I mentioned above.
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