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So now it's not enough to compete against other Registry Collectors. . .

But, we must also compete against those who have spent pennies on the dollar securing the 'rights' to low pop, rare Registry coin INSERTS!?

I know it's probably within the rules of the game, but doesn't this strike you as cheating- if not outwardly, at least ethically?

I know the Registry game isn't meant to be taken too seriously, but to those who collect them, it should be an even playing field for all.

This 'renting/leasing' of rare- single pop- Registry PCGS inserts smacks me as low ball and dishonest.
Am I alone here?

Comments


  • Modman,

    I have to agree with you on this one. If anyone is renting the rights to a holder, I think this is about the most low life, stupid thing a person could do involving the registry. I don't know about the "rules", but I think it is certainly implied that the person should own the coins before they register them, and when they sell a coin, they should remove them from their set.

    If you want to pay less and still play in the registry game, you should buy the coins, and plan to sell them at a time in the future. That way you "leased" them for that time for whatever money you made or lost.

    I am certainly not a high player in the game, and it really won't affect me one way or another, but I agree that it seems completely wrong.


    Always buying music cards of artists I like! PSA or raw! Esp want PSA 10s 1991 Musicards Marx, Elton, Bryan Adams, etc. And 92/93 Country Gold AJ, Clint Black, Tim McGraw PSA 10s
  • I too am one not to agree Renting to become #1. I have always bought and spent my income to become part of the Registry. Yes I am one of those Worthless Statehood Quarter Collectors. I am one to be involved in the Preservation of a Society of Honest Collectors (PHSC). I am appauled to hear Renting of coins to undermine the integrity of us (most of us) as Honest Rule abiding Collectors.
    Anyone caught or is trying to undermine the Registry as we know it (owning your coins) should be EXPELLED not only from the Forum also Banned for Life from participating in any coin activity for Life.
    This is worse than BETTING ON BASEBALL. Ask Pete
    These are my comments and my personal views. These views are not directed at any one in particular. Please as a view no Negitive feedback is required.
    This is a Hobby.
    Rick Stewart Collectionsimage
  • First, there seems to be a misconception about leasing in general. Do you think it is cheaper to lease a car than own one? Think again. The lessor has all the same cost as an owner plus he is going to make a profit on the lease after all other expenses including financing and depreciation. It is not cheaper but many people use them to get a more expensive car because it requires no equity(down payment). Does the state refuse to register the car because you lease it. No. While acknowledging the owner they understand that it is under your control and responsibility.

    Have you used a credit card to buy a coin? Do you think there should be a rule that you could not register the coin until the card balance was paid off? Does it seem morally wrong?

    My point is that the market place is very effecient and it is naive to think that any one can get something for "pennies on the dollar" for any thing in life.

    My feeling is that a market rate lease is no different than any other financing method. It's a matter of personal choice.

    When putting together a $500,000 to $1 million dollar set, should a collector be restricted on his financing choice? Home equity loans?
    Credit cards? Mortgage on the yacht or plane? I don't think so.

    Whether the collection is great or small, it is the collector's. How he finances it, like most financial matters in this country, is a personal matter.

    I agree with HD. As long as the coins are under his control,it is certainly none my business how he pays for that privilege. And I'm his most dedicated competitor.
    Bill
    _____________________

    My Other Hobby
  • Bill,

    I haven't really given an opinion as to whether it is right or wrong, only as to whether a set of that caliber could be "leased."

    I know that my last upgrade was a Barber half that I could not afford, so I took advantage of a 60 day layaway. However, after the down payment, I registered the certificate number so that I could sell the piece being upgraded to pay the rest of the cost on the coin I was acquiring. I guess that you could say that I had a "rent-to-own" agreement for that coin for the 2 weeks I had it on layaway.

    Keith
    Keith ™

  • merz2merz2 Posts: 2,474
    As I said in the other post,I don't think it is morally or ethically right to use a coin you don't own or aren't at least in the process of buying.
    Don
    Registry 1909-1958 Proof Lincolns
  • Don, I agree with you 100%!

    Happy New Year to all!
    Regards,
    Chris
  • Sorry, double post...
    Regards,
    Chris
  • FairlanemanFairlaneman Posts: 10,401 ✭✭✭✭✭
    To Each Thier Own. Personal opinion is that if the Coin is not owned then it DOES NOT belong in your set. Absolutely a question of Morality and whether a person is a True Collector. My Mother,rest her soul and who started me in collecting coins,would turn over in her grave if she found out I was Cheating on something as Trival as a PCGS Registry Set. A real decent Point was brought up today,but maybe just not brought up correctly IMO. Take Care: Ken
  • Dog97Dog97 Posts: 7,875 ✭✭✭
    keithdagen-Get real!! image There is a difference between what you mentioned and making a fake set. I say fake because if you use a coin that aint yours just to be tops your collection is fake! It's not real! Leasing is for a wannabe, if you can't pay then don't play the game!
    Change that we can believe in is that change which is 90% silver.
  • It won't be too long before these threads die- as all threads eventually do on these forums. We'll move on to other discoveries and topics.
    Wondercoin will continue with his coin business and all will be mostly forgotten.
    That's the nature of these forums.
    But, before they do:
    Mitch, I implore you. You're in a position of power. The good work you contributed with the 911 charity will not be forgotten. The ability you have to communicate to us all is valued.
    See, you're not simply "one of the guys" who can get away with this type of behavior.
    It may be unfair, but we consider you slightly above all of this.

    Please, (and I mean this from my heart) don't disapoint us again.
  • RegistryCoinRegistryCoin Posts: 5,111 ✭✭✭✭
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