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Registry set game making you pay way too much for common coins
lloydmincy
Posts: 1,861 ✭
Just an opinion. TPG makes you resubmitover and over again to get that higher grade . Those modern proofs sets with hundreds made, and everyone trying to get that 70.... NOT a good investment to me.... But of course, coins are not investments, right?
The Accumulator - Dark Lloyd of the Sith
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<< <i>Registry set game making you pay way too much for common coins >>
No.
Russ, NCNE
YES YES YES!!!!!!!!!!!!!!!!!!!
Just an opinion. TPG makes you resubmitover and over again to get that higher grade . Those modern proofs sets with hundreds made, and everyone trying to get that 70.... NOT a good investment to me.... But of course, coins are not investments, right?
well only to the seller leaches chiggers strumpets making a killing off of the plastic to buyers who are getting bitten and std's
The TPG's don't force you to do anything. If you choose to play their game, I hope you have a good time doing it.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Just how much of an accomplishment is it to own a "70" when "69's" are abundant? Get out your high powered magnifying glass. You will need it to appreciate your accomplishment.
Nicely stated.
Jack
More so in the short run than in the long run. In the long run, demand will cause more coins to be slabbed, increasing the supply of plastic AND the perceived rarity of the coins themselves. For many coins, this will bring prices down from current levels. In fact, many are already on the decline.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
This is because we have never had something like this before. Many collectors like the modern coins and one of the reasons is that they are available and that means they can actually find them and put sets together.
This means there is more demand. The question is will this demand and if it will continue? We will see.
The hobby has changed and we have witnessed it. The days of scouring our change, spending hours hanging around coin shops and shows trying to find our own "treasures" is gone. Most collectors are dependent on the TPG's to do their work for them.
And when the new technology arrives at PCGS and the grading scale goes to 100 points it will be ground hog day all year long.
Stewart
<< <i>And when the new technology arrives at PCGS and the grading scale goes to 100 points it will be ground hog day all year long.
Stewart >>
Now that would be fun!
If you think about the current system does not allow enough room for the true differences between coins of the "same grade". I have predicted from the beginning of slabbing that the day will come when we will begin grading the slabs. You can see a little of it with descriptions and pricing certainly reflects a superior eye appeal or "clean cheek" or luster, etc.
Box of 20
<< <i>Registry set game making you pay way too much for common coins >>
While the "registry set game"might entice and/or encourage one to "pay way too much for common coins", we need to look elsewhere to find the true culprits.
Here are a few of the prime suspects: 1) Lack of discipline; 2) Lack of patience; 3) Ego; 4) Laziness; 5) Brainwashing
In reading my list above, I must admit, it appears that I am bashing registry set gamers. That is not my intent, however. Rather, it is my strong wish that more coin (as opposed to grading label) collectors will refuse to be slaves to the registry game/numbers, and instead, focus on collecting the coins they truly like/enjoy.
<< <i>Its all about seeking out the finest. If you are happy with second best more power to you. >>
WELL SAID! AND SO SUCCINCT!
The beauty of all of this is that each collector gets to pursue their own interest. What is a shame is when some feel the need to put something down and often it is done in an attempt to justify what they are doing. Where would we be if all collectors collected the same thing?
There is snobbery in this hobby. Some dealers sell collectors on registry coins and others put it down. Who is right? The collector, based on his or hers definition for them, gets to decide.
Why is this such a big deal to so many people? MS70 is beautiful. MS70 is better than MS69. Get over it.
<< <i><< Its all about seeking out the finest. If you are happy with second best more power to you. >> >>
That is an unfortunate fallacy of the registry game - many of the so-called "finest" coins are inferior to other coins which have received lower grades.
The registry set concept has many excellent attributes. However, because grading is imperfect and thus inconsistent, the highest graded is not always the "finest" and many buyers focus on the grades which appear on the grading labels, rather than the actual coins.
<< <i>many buyers focus on the grades which appear on the grading labels, rather than the actual coins. >>
Bingo!
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
But my favorite is FoundingFathers, <<I think the prices are higher than they normally would be without the marketing dollars and system.>> I TOTALLY AGREE. But doesn't this "marketing dollars and system", (primarily slabbing) give the collector more confidence in a coins legitimacy and value?
The numismatic community is still VERY TINY compared to say, real estate and mutual funds. MAYBE - with the promotion/press/slabbing to create more of a true market/registry sets for fun/US Mint with the new coin designs/etc. - the DEMAND will continue to go skywards, outpacing a higher supply of say, modern proof sets.
MrEureka (hey Andy) is watching for that pull back, something he has been warning silently should happen soon. It should, from all the sharp price increases. But tons of coins still auctioning, with record prices. Overall slowdown not in sight, at least for what I want.
David Hall’s genius was to create more market for slabbed coins and to raise the market on common coins to complete the sets. Shear genius!
Would I pay whatever price on a 1994 penny, no I would not..... Would somebody else, yes probably.....
That is why I collect other things.....
Unless they are asking you for the money to purchase the coin, let them be.....
"But doesn't this "marketing dollars and system", (primarily slabbing) give the collector more confidence in a coins legitimacy and value?"
Yeah, but you are talking about the benefits of certification and slabbing -- registry set action is another additional layer and my comments were just about that layer, not the benefits of slabbed coins in general, which can and do exist outside of the registry set game.
<< <i>Hi lloydmincy,
"But doesn't this "marketing dollars and system", (primarily slabbing) give the collector more confidence in a coins legitimacy and value?"
Yeah, but you are talking about the benefits of certification and slabbing -- registry set action is another additional layer and my comments were just about that layer, not the benefits of slabbed coins in general, which can and do exist outside of the registry set game. >>
Thanks for adding these comments. The registry has impacted prices but has also stirred collector interest. Was the rise in prices worth it? The market will eventually determine that. There is risk in anything you put your money into.
<< <i>Registry set game making you pay way too much for common coins >>
yes and no
I'd hate to think how much I'd have to spend to acquire a coin like an 1805 quarter in Fine, if there were more collectors bidding up the prices of coins that are truly scarce in ANY grade
Liberty: Parent of Science & Industry
<< <i>I think it's absolutely wonderful that some people like and bid up the prices for 2005 coins in grades like MS68 and PF70....
I'd hate to think how much I'd have to spend to acquire a coin like an 1805 quarter in Fine, if there were more collectors bidding up the prices of coins that are truly scarce in ANY grade >>
Hang in there Baley..............some of these collectors may learn to go further and then all of your "rare" coins will be worth much, much more.
The lemmings didn’t care though. They are buying registry points and status by paying what was it, $40K, for some that was worth $10 or less.
the high prices for moderns (which they usually consider very common). Most classic collect-
ors also equate PR-70 with moderns. While most PR-70's are moderns, all moderns are not
PR-70, PR-69's or even proof at all. And while many moderns are common in PR-69 some are
pretty tough even in PR-68.
It usually seems to modern collectors that the great quality of many moderns is used to attack
collecting them at all. Yes, we know that one doesn't often try to collect a set of large cents
in gem, but why should that mean one shouldn't collect Jefferson nickels in gem?
The biggest problem though is the apparent belief that without the registries no one would even
collect the modern crap. But the simple fact is that rare high grade moderns were going up in val-
ue long before the grading companies were established and long before they graded the first
one hundred coins. This was long before the registries and if you'll remember the registries spe-
cifically excluded modern coins the first few years of existence. It wasn't until about 1997 that
you could even start a registry set of something like clad quarters.
The registries are not the be-all and end-all of modern collecting or the value of high grade mod-
erns. Those of us who have been in these markets for a while see the registries as a mere blip
in the steady increase in demand for these coins. No matter how one spins the facts the truth
remains that moderns (just like all classics) make a great collectible and there are many rarities
among them. The high quality that often accompanies them is an asset rather than a liability and
these are just as much US coins as a Morgan dollar or a bust dime.
<< <i>There seems to still be a great tendency for people to equate the "registry set game" with
the high prices for moderns (which they usually consider very common). Most classic collect-
ors also equate PR-70 with moderns. While most PR-70's are moderns, all moderns are not
PR-70, PR-69's or even proof at all. And while many moderns are common in PR-69 some are
pretty tough even in PR-68.
It usually seems to modern collectors that the great quality of many moderns is used to attack
collecting them at all. Yes, we know that one doesn't often try to collect a set of large cents
in gem, but why should that mean one shouldn't collect Jefferson nickels in gem?
The biggest problem though is the apparent belief that without the registries no one would even
collect the modern crap. But the simple fact is that rare high grade moderns were going up in val-
ue long before the grading companies were established and long before they graded the first
one hundred coins. This was long before the registries and if you'll remember the registries spe-
cifically excluded modern coins the first few years of existence. It wasn't until about 1997 that
you could even start a registry set of something like clad quarters.
The registries are not the be-all and end-all of modern collecting or the value of high grade mod-
erns. Those of us who have been in these markets for a while see the registries as a mere blip
in the steady increase in demand for these coins. No matter how one spins the facts the truth
remains that moderns (just like all classics) make a great collectible and there are many rarities
among them. The high quality that often accompanies them is an asset rather than a liability and
these are just as much US coins as a Morgan dollar or a bust dime. >>
PREACH IT BROTHER!
As has been shown over and over again. There are numerous MS69 pieces that are more beautiful and with nicer surfaces than the MS70. There are ugly MS70's too, for whatever reason. Spots after holdering, mis-handling after being graded, etc.
For what it's worth, I have never seen a truly MS70 coin of anything. I've always been able to find a defect or mark, etc.
There isn't anything that's really MS70 in the marketplace, but the TPG's grading it otherwise have convinced a new generation of buyers that MS70 exists.
roadrunner
Next thing ya know, coins will deteriorate into a HOBBY er sumpin.
Need more $$$ for coins?