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Been gone awhile. Are the Registry Sets still hot as ever?
MrEureka
Posts: 23,940 ✭✭✭✭✭
I know how the general coin market has been doing, but how about the Registry game? Is it on the upswing or downswing?
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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Oh yeah, don't ask why, you won't get an answer. Some of us use the yellow ribbon to mark this sad decision. It's kind of like flying the flag at half mast.
<< <i>Speaking about modern business strikes only, the less than top-pops are pretty cold, the pop-tops are bringing HUGE prices due to the fact no new ones are being graded at pcgs. >>
Well, I found out today they HAVE graded the second 1865 Three Cent Nickel PR67DCAM.
But as to the topic at hand....
It's pretty clear that the Registry phenomenon has moved into Phase II, Phase I being the frenzied joy of everybody mixing it up and the rush to the top. Now that the top(s) of most of the major sets have been established, we're into some type of consolidation phase.
It's interesting to observe, since we haven't had this phenomenon before that gives us a guide how this will progress. I'd be interested in hearing your speculations.
I'll start off:
Phase I FRENZY OF NOVELTY
It's the season opener. Everybody is undefeated. First comers post sets that are automatically in the top five. Lots of people join in, and there's all sorts of movement up and down the rankings.
Phase II BIG DOGS
For the major series, the big players establish their domain, consolidating with desultory upgrades. The sets turn into upscale vs blue collar neighborhoods. Occasionally sales of sets cause a little shuffling, but the sets are "set." PCGS tries to reenergize the Frenzy by introducing "The Copper-Nickel Burkina Faso 1913 Proof Set--Bunny Pictures Only" Registry Set, but fails.
Phase III ENNUIE
People find coins to collect that are interesting and don't cost as much, despair of battling against the impenetrable ceiling. Top sets sit immobilized while owners drift off into buying fine art, sculpting or getting Alzheimer's. Nobody posts on the Registry Forum for weeks at a time, and thoughtful threads like this one languish .
Phase IV REDISCOVERY
Boom coin market (new exciting issue, the dollar tanks, Chinese discover US coins). New money, old guys bought out/their spoiled kids sell for peanuts, new frenzy.
Cycle renews.
Here's a warning parable for coin collectors...
Phase 1 - Registry woke up the collectors to a new game. Now the sets can be displayed widely via digital photos to those of like minds. No need to leave the sets in the vault for years only retrieving to show disinterested family members and future inheritors.
Yes, competitive spirit drives prices for top pops and some lower tier coins needed to complete sets. Populations of slabbed coins expand exponentially as high prices drive a search of raw sets for top coins. Pops now confirm that there are plenty of low tier coins with some top pop over-grades thrown in for good measure.
Phase 2 - Ceilings are starting to be established along with better communication among collectors due to the email links on the registry sets. Now, collector-to-collector trade flourishes. Whole collections are bought just to capture a few critical coins. Spares are reintroduced into the market and offer 'fresh' material that was locked away.
Phase 3 - Dealers are now slabbing furiously to break back into the collector trade. Volume submissions give TPG justification to allot higher grades without upsetting the distribution of few tops and many lows. Sight unseen buying deminishes due to the range of quality within a grade.
Phase 4 - Collectors return to roots of needing to understand grading and quality even for slabbed coins. Purchase agreements for coins now include fine print to allow return of slabbed coins with reimbursement of postage and handling. Returns increase from 1% to 35% increasing USPS profits from registered mail.
Phase 5 - Two tier market now firmly in place causing collectors to realize that effort needs to be spent promoting the hobby and bringing in new collectors. Demand starts increasing for lower tier coins which stabilizes the top tier prices until US Mint introduces proof/mint sets with half-year dating that floods the market. This pushes collectors into just enjoying coins in their collection.
Regards,
Badger
Link to 1950 - 1964 Proof Registry Set
1938 - 1964 Proof Jeffersons w/ Varieties
the collector knows the #1 spot is well out of reach. People will be competing
for tenth place or maybe for 25th in the more competitive or expensive series.
The reason I stopped my complete SQ BS Registry set at 04. I wish the Satins never came out.
Box of 20
I also hate SF coins, but only because they are allowed to park in places that should be reserved for the TRUE business strike coins. And it's such a shame, since all it would take is a variety set where they could be added. At the same time removing them from the uncirculation sets would make everyone happy.
This would also increase submissions of business strike coins, since they would be needed in both sets. A great business move, but what do I know, I'm just a customer.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website