A new certified-coin registry
solid
Posts: 2,975
Perhaps this is the future...
Imagine if you will, a very active certified coin registry, with tens of thousands of participants and 100,000+ sets listed, totalling millions of coins. This is a subscription-based service provided by an independent corporation.
There are two types of participants; collectors (who pay a small yearly fee for each listed set) and dealers (who pay more), and all certified coins are accepted for entry into the registry. It is the accepted industry-standard registry system and virtually all of the major players participate.
Here's where it gets interesting...there are no points or weights, bonuses or deductions, mandatory or optional coins. The only rule is that each set can only include one example of each date/mintmark/variety for the series.
The set rankings are 100% based on the RMV (tm) (Registry Market Value), as determined by the outstanding bids of the active participants. These bids, typically made by dealers (but sometimes collectors) are for sight-unseen coins, and establish the baseline RMV for each given (generic) coin in the system. Any collector wanting to sell a coin has the option of requiring the collector/dealer with the highest outstanding bid to buy it.
Now, many individual coins will be worth more than the baseline RMV. This is handled by outstanding bids for specific coins. If you have a PQ coin, you will perhaps have several outstanding bids placed on your coin, and you will get credit for the high bid in your rankings.
The set values (and possibly rankings) will be constantly fluctuating as generic and specific bids are placed or withdrawn.
In conclusion,
This system is a conglomeration of current market forces (third party grading, existing registry systems, Certified Coin Exchange, blue/gray sheet and other pricing guides, ebay, etc) and accurately ranks each set based on its true market value. All debates regarding points, weights, deductions, bonuses, mandatory coins, optional varieties, and "my PQ 67 is worth more than most 68's" arguments are totally eliminated. Your set stands naked and is judged on its merits by your peers.
Ken
P.S. If you think I'm totally out of my mind, forgive me, it's now 4am here.
P.P.S. If you think this is a brilliant idea and have the resources and desire to make this happen, then you will obviously want me as partner and lead-man on the development team since I am experienced and very skilled in system development, and am an innovative, effective, forward-thinking problem-solver.
Imagine if you will, a very active certified coin registry, with tens of thousands of participants and 100,000+ sets listed, totalling millions of coins. This is a subscription-based service provided by an independent corporation.
There are two types of participants; collectors (who pay a small yearly fee for each listed set) and dealers (who pay more), and all certified coins are accepted for entry into the registry. It is the accepted industry-standard registry system and virtually all of the major players participate.
Here's where it gets interesting...there are no points or weights, bonuses or deductions, mandatory or optional coins. The only rule is that each set can only include one example of each date/mintmark/variety for the series.
The set rankings are 100% based on the RMV (tm) (Registry Market Value), as determined by the outstanding bids of the active participants. These bids, typically made by dealers (but sometimes collectors) are for sight-unseen coins, and establish the baseline RMV for each given (generic) coin in the system. Any collector wanting to sell a coin has the option of requiring the collector/dealer with the highest outstanding bid to buy it.
Now, many individual coins will be worth more than the baseline RMV. This is handled by outstanding bids for specific coins. If you have a PQ coin, you will perhaps have several outstanding bids placed on your coin, and you will get credit for the high bid in your rankings.
The set values (and possibly rankings) will be constantly fluctuating as generic and specific bids are placed or withdrawn.
In conclusion,
This system is a conglomeration of current market forces (third party grading, existing registry systems, Certified Coin Exchange, blue/gray sheet and other pricing guides, ebay, etc) and accurately ranks each set based on its true market value. All debates regarding points, weights, deductions, bonuses, mandatory coins, optional varieties, and "my PQ 67 is worth more than most 68's" arguments are totally eliminated. Your set stands naked and is judged on its merits by your peers.
Ken
P.S. If you think I'm totally out of my mind, forgive me, it's now 4am here.
P.P.S. If you think this is a brilliant idea and have the resources and desire to make this happen, then you will obviously want me as partner and lead-man on the development team since I am experienced and very skilled in system development, and am an innovative, effective, forward-thinking problem-solver.
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