What is the Life Expectancy of your Registry Set ?
STEWARTBLAYNUMIS
Posts: 2,697 ✭✭✭✭
The Set Registry is a relatively new concept.It is less than 5 years old.It is growing by leaps and bounds.It has increased dramatically the buying and selling price of "Registry quality Coins".
If I think back on the true collectors such as Norweb,Eliasberg and others such as Harry Bass,Ted Naftzger or even JJ Pittman,their collecting of coins were a lifelong addiction.
It seems that today there is almost no such thing as a "Rare Coin".Collectors of #1,#2 or #3 Registry Sets are Phantoms.Their Life expectancy is short lived.Their coins go in and out of the market place every 3 or so years.
How will this "Registry Phenomenon" affect the price of the coins you collect in the future ?
What is the Life Expectancy of your Registry Set?
Stewart
0
Comments
Mr. Blay,
I'm sure there are a lot of people that would like to hear your answer to that question.
<< <i>It seems that today there is almost no such thing as a "Rare Coin". >>
Maybe so... It seems to me that today we have graduated to looking for a "rare set". The registry set phenomenon has not only brought in new "coin" collectors, but has also brought in new "set" collectors. Therefore astute collectors are now collecting rare sets of coins, rather than just a rare coin or two, and these sets may be sold just as quickly as did individual coins.
The long term are the more difficult to make and maintain especially this side of the pond!!
Web: www.tonyharmer.org
I believe there are still rare coins, and collectors who will hold their rare coins for many years. I have been working on my sets for 10 to 13 years. Steve Duckor on his for 20plus years. And Bingham for 30.
The sets that are selling today that are more recently completed would have been held together longer, perhaps, if the coins to complete then had not been as available. But the internet, and on-line auctions have brought many coins that were earlier hidden in collections to light. And the rise in prices has convinced some to take the profits they didn't realize would ever occur.
Except for the Cardinal Early dollars soon to be sold, the finest early draped bust and bust denominations are locked away for a long time. And the Morse collection of Saints stayed hidden from public view til recently.
But you are correct in pointing out that sales of Registry sets seem to be in every new catalog we see. And many have been completed in less than 5 years. These sets/coins will not bring the ultimate prices to be expected if they were held together for 30 plus years. Even though many of the individual coins are highly desired and go way over expectations.
Me? I'm getting old enough to start thinking about when. Maybe 10 years, after I see your Lincolns at auction, and Gregg Bingham's commems. These two collections are real! And you too old coots aren't getting any younger.
Lincolnfreak - I will say that if you don't hold your coins for at least 5 years then your not a collector.The problem that arises today is that a new collector who wants to own a "Registry Set"has to invest so much money that most new collectors can't afford to hold his/her coins.
I will personally say you should hold your coins as long as possible.A minimum should be 10+ years.
TahoeDale - There have been more coins sold individually in the first 5 months of 2005 than any other time in Numismatic history.Do you realize how many more auctions there are Numismatically speaking in 2004 and 2005?The hold time for coins keeps getting shorter and shorter.
Stewart
Bruce Scher
But if there wasn't a registry, I wouldn't buy any more PR70DC's!
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
What is the life expectancy of the registry sets? I do not know. However, I do not like the short term trend thinking these days. How does a set ever acquire a pedigree if they are held 5 years or less. I mean a REAL pedigree.
I have been real disappointed in the sales of the great sets that were put together in the past few years, too soon and too fast.
Collectors like me want to know the coins are safe and sound with a collector who appreciates them for the long term.
This is one of the reason that I started collecting type coins years ago, so that I would not constantly mourn yet another sister/brother set being broken up.
Some dupes but most of the upgraded coins are removed.
Syl's Washingtons
Syl's Washington Date Set.
Syl's MS66 State Quarters
Syl's Clad Quarters
Syl's Silver Washington's
This is just the Quarters, the Halves, and Dollars not included.
How will this "Registry Phenomenon" affect the price of the coins you collect in the future ?
Big Time!
Stewart,
Remember "back in the day" when the P mint Lincolns from the teens could be had in 67RD for a couple thousand bucks? HeII, remember the 13-P you outbid me on for $1100 (if I remember correctly). I remember Andy offering me a 09-S VDB in 67RD for $20,000 and I thought "what's this guy been smokin?" What about your 30-D in 67RD? What, you paid around $300 for that coin?
Then comes the registry.
Now folks are paying tens of thousands for coins with mintages in hundreds of millions. Hundreds and hundreds of beautiful pristine Lincolns in 66 holders that registry titans don't fell are good enough because PCGS says so. You and I know that many of those coins are every bit as good (sometimes better) than what the "experts" say are 67's. Yet, because the 67 gains a hundredth of point advantage over the next set, it brings 10K.
So, what's the life expectancy of my registry set? About 2 years. I feel stupid that it took me this long to figure out just how ridiculous is the registry.
What's the life expectancy of my Lincoln set? 18+ years and kickin'! If Gerry wasn't such a nice guy I'd be pi$$ed at him for not hittin' me upside the head. He's got it right. Collect for yourself. I'll continue to hunt down the finest Lincolns I can buy. I'm just not feeding the frenzy any longer.
Jack
Sound familiar?????
In my opinion, if the registry set was a true collectors magnet, you would see a couple of thousand sets registered just for circulated Lincoln cents 09- 58. But in my three years, I have never seen it go above 190 sets and has averaged fairly steady at 183 with folks coming and going like a revolving door.
Why???
Because it takes cash. And a young collector or first time collector may think it’s like collecting “beanie babies”, but it takes much more money than it may first appear. Not just for the coins. Heck, you can go after vg quality but you will still need to get 85 slabbed at that will cost you $1700 +. That is a lot of money for a new collector. Those that even jump into collecting modern coins will be shocked at what a coin may cost. So we will always see a lot of sets start, and those that are lucky enough to complete a set will sell their sets and move on after they realize they can not win the “contest” they just entered. I know that may be hard for you folks at the top of the totem pole to understand but may I remind you that there are more of us with collecting budgets than those with none.
I think the registry is pretty much maxed out and the only thing that will keep it going are PCGS coming up with new series.
WS
Passion first, cash-in second...unless......
Stewart: This will continue as long as the appetite continues, as well as the reserves of coin sellers hitting and the thing sells.
<<For the sake of debate, I think most collectors started young, dropped it for other interest, and then come back harder than ever and with more cash to spend on getting those coins>> they want.
That's ME!!!!!
Besides, I have one advantage over the two individuals who hold the majority of the better barber halves...my age. I suspect that Steve Duckor and Dale Friend are both likely to sell their sets before I plan to. The question is how many will I be able to afford when the time comes? Opportunities like that only come rarely and like the Hugon Collection, must be acted upon in real time.
So count on me to keep my registry set for some time.
And since the best I've been able to to do in a MAJOR set category across the street has been #4, I don't think my stuff with generate much registry interest when it does get sold.
My collection is constantly changing direction, but it will last a lifetime.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>My collection is constantly changing direction, but it will last a lifetime. >>
This is well said, and true for me too. My coin collection has seen many registry sets come and go.
The registry allows all my retired sets to still retain life...
For those in this game for the Glory,
it lasts as long as it is remembered.
BBpM
Perhaps not, but it will indeed generate much collector/buyer interest nevertheless.
Including on my end.
It really is less dependent upon the depth of one's pockets than you might think. Usually, those with deep pockets got to where they are financially because they enjoy, and rise to, challenges. Once the challenge of completion is over, it's a fight to maintain interest in keeping the set together.
<< <i>I guess alot depends on how deep your pockets are. I am on the poor end of the collector scale. >>
>>>>
True what TDN says is true but some coin collectors are actually quite frugal lest we waste our money on frivolous things as it would horrifying to take away money from your coin budget!
The Norwebs as well-to-do as they were in the 1960's and early 1970's, brown bagged their lunches INCLUDING their beverages EVERY DAY I met them in Cleveland, Ohio. Heck, THEY taught me how to save my money for the coins I wanted.
Emory Mae Norweb said "it is all about the coins, isn't it?"
She really loved looking and learning about coins.
From that fateful day in 1971, I vowed to brown-bag my working day lunches and figured out just today that made a difference of an average of $3 a day in savings on the low end x200 working days minimum per year x 34 years equals $20,400!!!
So never say, never!!!
Now if anyone wants to treat me to lunch, I would consider it!
not figure out how much you saved
with compound interest for all those years
Tim
Now if anyone wants to treat me to lunch, I would consider it!
Oreville - You did 6800 brown bags and all you have to show for it is the equivalent of a low end PR68 Morgan?
Sure, I'll buy lunch.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I didn't have the money to collect coins from the coin store until I turned 16 and got my first job! By the time I turned 18, I knew I was hooked for life! I have never sold a single coin that I bought, not even one!! I love each one of them soooooo much in their own little way. I even have the ones from that summer when I was 12 with my grandpa. Of course they are all f, VF, au, etc grades not worth much but I still can’t seem to get rid of them as they are still tucked in boxes in my basement! Every now and then I pull all of my coins out from the several locations of their slumber and look at each and every one of them!
So to answer your question about how long is the expectancy of my registry set, I will say until financial hardship or death do us part!!
PS I will open up my 1980 mint set very soon, it has taken me almost a year to assemble and should be #1 very soon, and hopefully forever!
Zach
Check my ebay BIN or Make Offers!!