Why do people hide their sets?

BowAxe

Being a long-time (40+ years) collector but relatively new (1+ month) to the Set Registry, some things still puzzle me. For example, why do some people not enable their sets to be viewed by others? I don't mean not posting photos of the coins--I myself am not able to do that--I mean not allowing others to see what coins constitute their set. What purpose does that serve?

Dell

psxchelly

Hi!.. i think a bunch of people were discussing that before here.. and if I remember correctly some people mentioned competitiveness, and personal preference.

Personally I like the fact that they give you the choice to hide them or not to hide them.

coynclecter

The way I understand it there is some concern that with the limited number of high grade pieces some dealers might hold out for exceptionally high prices on certain pieces if they know they are needed by certain collectors to compete with others. For example if I had a coin with a real small pop in 67 and I knew two collectors in 2nd and 3rd could use it to increase thier set points and pass #1 I might ask a lot more than if the top 5 already had this one.

So why give the seller info he can use against you.

Monstavet

I think people worry about that, but it probably only matters to the really top sets...most dealers probably don't have time to keep track of such things...
in my case, I keep my set hidden because I don't want to reveal what it has until it is all done....then I will open it for the masses to admire! Or something like that...
The Registry serves as a means to keep track of the coins for me...being a top rank isn't necesarily the only motivation.

EVillageProwler

Why does the weenie who is currently #1 with Seated Dollars hide his set? There's no need for him to do that. That set isn't weighted, and there's too many ways to upgrade that he can't be held hostage to a coin by a dealer.

The #2 guy didn't hide his, and he's not worried...

EVP

michael

absence makes the heart grow fonder

pontiacinf

i dont like closed sets...especially when theres only one blocking number 1...

comeon plastic collection...anti up

psxchelly

pontiacinf....
take a look at it this way. Lets say your #1, and your REALLY competitive. You think you have #1 locked up for a while. You enjoy being number #1 so you lock you set so the other guys cant upgrade to beat you.

I would do the same if I were number 1. Some people are just really competitive and like being first.

BowAxe

Thanks to everyone for helping to shed some light on this issue for me. I can see that all these potential reasons for hiding sets may have validity for various people. But in the case of top-ranked sets where there may be only a few ultra-low-pop coins separating the front runners, I am not convinced that the dealer "greed factor" is significant. I had the experience of needing a couple such coins to move into the finest set position and the leader had not hidden his set. In spite of this, even though I advertised my wants as widely as I could, and made it clear to the dealers the purpose for which I was searching for these coins, I simply could not find them! I had to conclude they were all in collector's hands and I had no way of shaking those loose.

I still can't see what a front runner would gain from hiding his set. The runners-up, if they are really competitive, will be doing everything they can to upgrade and if they are aggressive enough they will eventually pass the leader without even having to know what is in his set. The only way the leader could stop them would be to buy up ALL the multiples of all the top coins in the set--now THAT'S competitive for you!

Bear

For the same reason that dogs bury bones and bushy tailed cxreatures hide their nuts in trees.

BowAxe

Bear, I guess you mean instinct.

Bear

But of course!!!!

Blade

There are 2 hidden sets that are driving me absolutely crazy. They are the #1 & #2 1792-1964 type sets held by Swan and High Desert. Can you imagine MS64+ across the entire type set? There must be some awesome mid-1800's 68's in there. Swan did say it was his intent to add pictures sometime soon. I'll need to call my computer company to see if keyboard drool is covered under warranty.

I would encourage everyone to open sets - it adds to the fun and learning.

boiler78

Swan- Also started a thread awhile back that was somewhat critical of closed sets. Coin collectors are truly a strange bunch!

merz2

Mine has never been hidden.I'm to proud LOL.

oreville

Yes we are a strange bunch!

Could you imagine what the reaction would be if we showed off our wares?

The thought just frightens me.

NIckelCollector

I have never considered hiding my registry sets until recently. In my opinion, there are probably less than 5 - 10 serious Jefferson collectors in the PCGS registry chase. Lately advertisements from many dealers seem to be advertising directly to these few collectors. Phrases such as “for the very best registry sets” appear more frequently with premium prices 2x – 3x market rates. It appears the coin dealers are reviewing registry sets and setting prices based on who needs what coins. Ultimately it comes down to supply and demand, but showing your hand certainly has some down side.

wondercoin

Frank: You might be confusing "targeting you" with dealers "shooting for the moon" with freshly graded coins. A near "5 figure" nickel comes to mind (I'm sure you know which date I am talking about). I don't have a registry set even listed, but the asking price made me nearly fall off my chair!! Wondercoin.

Tonelover

I will admit to checking in on all the sets and contacting people when I think I can be of assistance. I've established some wonderful relationships by doing so. But our prices are set long before I make any contact and are not based on someones supposed need. Check our website against any offering I make and there will be no disrepancies. And you will never see "RSQ" in any of our descriptions either.

a2labmom

Paranoia, safety concerns, mistrust of the human race...

I mean, afterall, some of these coins in registry sets are worth just a little but of money. What's to stop some unscrupulous (sp?) person from scoping out the registry and tracking a collector down and targeting them for theft or worse?

BowAxe

a2labmom: Unless you allow people to view your profile, it would be extraordinarily difficult, I think, for a potential thief to identify a collector and locate his home if the only identification displayed with a registry set is the owner's email address-- am I wrong about that? And if a registrant was really concerned about that possibilty they could simply omit their email address and give their set an anomymous title.

It had occurred to me that one reason a person might hide their sets would be to avoid being bothered by other collectors asking to PURCHASE coins from their sets, although I don't know whether or not this happens very often. I have done it on a couple of occasions, but in both instances I knew that the set owners were also dealers so I assumed that they would not mind the inquiries. In both cases they politely declined my offers to buy.

Regarding Tonelover's comment, I personally would not mind it one bit if people who viewed my sets contacted me to offer me coins that I needed; but in my case the ones I need are scarce, high-grade, low-pop coins that I have not been able to ferret out, and I would be very surprised to be contacted.

windycitytrio

My thoughts on hiding sets:
1. I have an SLQ set and it is not hidden.
2. Four of my coins have POP of none better...so what if the world knows it? If you want to find one of equal grading to improve your own registry set go ahead... if you want to email me to buy one of mine go ahead...sometimes money talks, but it is not likely... I love competition.
3. My email and mailing address are both a PO Box and my phone number is a cell phone to ensure I get no interference with my family life...work is work & pleasure is pleasure...if someone gets po'd at me I feel a little safer doing it this way.
4. If you own a low POP coin why not tell others you have it? Someone may be willing to pay an obscene amount of money to buy it!