New rules for Prooflike Morgan sets

sweetwilliet

Anyone else get the email about the new rules for prooflike morgan sets to take effect July 1st? Only prooflike and deep mirror coins can be entered into the registry set, with the exception of a few really scarce coins unavailable or very rare in PL or DMPL, like the 1893 s, 1893 o, 1886 o, etc... I see even the 1893 cc is going to have to be PL or DM to enter.

Bochiman

Isn't that the right thing to do though?

There is already a year set, so if there are none in PL or DMPL then none should be entered, right?

I think it is the logical, and right, thing to do.

sweetwilliet

I've got mixed feelings about this, it will drive the price up on the PLs and DMPLs. Right now, my set is 100% pl or dmpl, only 18% complete. I'm going to have to enter numerous of my non-pl coins prior to the date set by PCGS, because some of them will be far too expensive for a novice collector like me to afford. That being said, I think that for the very common coins in pl or dmpl, they should be restrited to pl or dmpl only.

CalGold

It makes sense doesn't it? I don't think it will have a big imapctt on the price of PL and DMPLs. The price of those for really tough dates is already very high as they are sought after by builders of 100% PL/DMPL sets. Those who cannot come close to affording to buy the very expensive dates and were including a frosty coin in their sets are not likely to come up with the money now just to play on the Registry. In other words, if you couldn't afford to buy a 1893-o DMPL before what does it matter if the price of that date goes up?

CG

sweetwilliet

Right now, there are only a handful of 100% complete prooflike sets, with the highest pl/dmpl percentage being only 82% prooflike. Some coins are very hard to come by, in pl or dmpl.

CalGold

So? There are also very few complete sets in other series because some of the coins in the series are very rare. For example, there are only a handful of 1870-s Seated dollars.

CG

sweetwilliet

True, I think I'm playing devil's advocate here. I think the lesson to take home for me is to not get too caught up in the registry game and collect coins I like, namely pq pl and dmpl morgans, common or not.

1985ChicagoBears

received email and agree that set should be limited. still, there are a ton of non-pl/dmpl that will be allowed in the set.

CalGold

<< <i>I think the lesson to take home for me is to not get too caught up in the registry game and collect coins I like, namely pq pl and dmpl morgans, common or not. >>



Good thinking.

CG

Yale68

I like the idea, although I will now need to get 3 PL coins for my set to be complete (89cc, 93cc and 95s). BJ's list of 30 acceptable non-PL coins will have to be augmented by the 1887/6-O, which is nonexistent in PL

Stuart

Unless PCGS decides to broaden their current PL/DMPL designation policy to include high-end AU coins (as NGC does), the new PL/DMPL Registry Set rules will mean that except for the 30 acceptable non-PL Morgans that B.J. specified in her recent e-mail, only PCGS Mint State Coins will be allowed for the majority of coins in these Registry Sets after June 2006.

I will once again ask David Hall via the Q&A Forum if PCGS would now reconsider designating deserving reflective surface high-end AU Morgan Dollars as either PL or DMPL.