I have no sympathy whatsoever for coin weenies who play the PCGS Registry game and whine (expurgated
ANACONDA
Posts: 4,692 ✭
In another thread I said:
Sorry, but they should know what they're getting into from the very beginning. Grading is subjective and if you want to play in the PCGS playground and they don't allow any balls on their property other than their own, than you can either play by their rules or go play somewhere else or go find another game to play.
Mark Feld said
<< ...but they should know what they're getting into from the very beginning >>
Adrian, what if they do not know what they're getting into (in the way of inconsistent/imperfect grading, politics, etc.) and later find out ? Do you have any sympathy for them? Or, is it too bad for them, either way, because they didn't bother to check everything out ahead of time?
Sorry, but they should know what they're getting into from the very beginning. Grading is subjective and if you want to play in the PCGS playground and they don't allow any balls on their property other than their own, than you can either play by their rules or go play somewhere else or go find another game to play.
Mark Feld said
<< ...but they should know what they're getting into from the very beginning >>
Adrian, what if they do not know what they're getting into (in the way of inconsistent/imperfect grading, politics, etc.) and later find out ? Do you have any sympathy for them? Or, is it too bad for them, either way, because they didn't bother to check everything out ahead of time?
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Comments
But, to whine about PCGS rules is a little silly. It is thier game, and hence thier rules.
People playing the Crackout game are taking risks, calculated risks if you know what your doing.
My rule of thumb...know your series, how it's graded, and buy the coin, not the holder.
Always go for above avg to way above average eye appeal.
Finally, Mark Feld is someone that we always need to listen to, and consider, thoughtfully, what he has to say. He has probably forgotten more than most of us will ever know.
One of the basic guidelines in investing is know the game before you play it.
People who care more about the holders instead of the coins should know better and if they get burned, well they deserve it but i guess I still feel sorry for them. In part it depends on how much money they have. The more substantial amount, the higher my sympathy. I always feel sorry for their wives and kids though.
With regard to the aforementioned, the damages or losses that are refered to are the kinds of losses that are mentioned in Legend's web site which are the losses which a guy suffered when he tried to cross an NGC coin twice which he then sold at a loss because he couldn't get it crossed which then was submitted by the new buyer which crossed the first time. (He wouldn't have taken a loss if the coin had crossed and therefore would have been accepted in the elite PCGS registry, which was the venue he was competing in.)
Isn't this concept about LIFE in general? If it's not, I've been missing something somewhere. If I'm not mistaken, learning is very PAINFUL....JMHO.
<< <i>Mad - try as I might, I have to agree with you on every point.
Ah...more proof that great minds...uh, great minds...oh what the hell is that.....this is my brain, any questions?
One of my favorite sayings is
"Any fool can learn from his own mistakes, it takes a wise man to learn from the mistakes of others."
But, I was trying to determine whether Adrian (and others) drew a distinction between those who knew the game going in, but wined about it when it didn't go their way, vs. those who did not know the game, going in and wined after they learned what the game was all about.
Spending a lot of money on high grade coins is no exception though it's probably not nearly
so risky as it was before the grading services. Someone just throwing money at a set in or-
der to have the #1 ranked collection is likely to end up with many not all there coins. Despite
increasing prices for these coins there could still be a substantial loss.
But most if not all of the collectors chasing these coins are extremely knowledgeable people
who have spent more than a little time assembling sets. Most register their sets in a spirit of
friendly competition and shared goals.
I do suppose I agree that those who blindly go into this are not much deserving of sympathy
if their ignorance and ego end up costing them money (or profits).
42/92
I'm not knocking Adrian here. I've met him and I like him and his coins.
We'll use our hands and hearts and if we must we'll use our heads.
That's my specialty...Ihave a 90% crossover record with it. Yea, I paid for the knowledge, but I was lucky. I was very friendly with a superb specialist dealer. I've seen a lot of collections that are horrible bottom feeder crap. I'd venture to say that 80% of Franklins are overgraded by my standards. Overgraded meaning that they will go begging at current prices. But nice eye appealing, solid coins have no problem fetching retail or better.
I feel worse for the ignorant risk takers who lose as opposed to the knowledgeable risk takers who lose.
Now that I've written that, it sounds funny to me. I'll have to think about that.
We'll use our hands and hearts and if we must we'll use our heads.
There have to be checks and balances in commerce. I'd like to see a few TPG services shut down.
<< <i>I feel worse for the ignorant risk takers who lose as opposed to the knowledgeable risk takers who lose >>
Oh no, I agree with you Adrian.
<< <i>Hey Mad! Unfortunately I won't be able to satisfy your yen right now as I'm leaving for Six Flags with the children and wife. >>
We'll use our hands and hearts and if we must we'll use our heads.
<< <i>One of the basic guidelines in investing is know the game before you play it. >>
Or have an advisor to explain it or do it for you. There are many people who make all kinds of investments without knowledge of what they are investing in. But, they usually pay for someone who has the knowledge.
Just ask the at home, online investors who were buying tech stocks at the top. When the techs came crashing down, who did they blame? Not themselves or their lack of investment kowledge but the market in general.
PCGS uses the registry to promote its brand.
Saavy registry set participants have built highly ranked registry sets and used their ranking to promote the sale of their sets. This is also good for PCGS’s business as it promotes the brand name. No need for any sympathy.
Guys who build sets to flip quickly can afford to buy some holders to get a ranking that adds credibility to the entire set, and if they are nimble enough can bail before their top pops are diluted by newly made coins. No need for any sympathy.
Guys who build sets and chase top pops and holders with the intent to hold for the long run are taking the most risk and are the most likely to get burned by top pop dilution. Doesn’t take a rocket scientist to figure this out-no sympathy.
Guys who buy NGC coins to cross are trying to fill their PCGS sets more cheaply than buying coins in PCGS holders which tend to cost more; so crying over the cross over game is crying over lost profits: no sympathy from me there.
A top ranked registry set is not necessarily the prettiest. So if someone tell a set holder that he gets no sympathy from me.
A top ranked registry set is not necessarily the finest–many if not most collectors don’t participate in the registry. Doesn’t take a rocket scientist to figure that out. So if someone tells them that they get no sympathy.
CG