Is patience one of the toughest parts of building a registry set?

BBN · December 31, 2008 1:15PM

Right now I could pull the trigger and land a couple of nice MS64 pieces to my resgistry type set, but I'm saving for an early quarter. It's not that I want these other coins right now. It's just that I know I'll need them to complete my set. I should have the cash in about a month for the quarter, but getting the itch to land the others. I know though that if I did it would be months again before I have the cash for the early quarter.

Anyone else get an itchy trigger finger and want to buy when you're trying to focus on another coin you're saving for?

TomB · December 31, 2008 1:20PM

I think patience and discipline are key to building most any quality set regardless of it is a registry set or not. Additionally, access can be key for more esoteric sets.

BBN · December 31, 2008 1:29PM

Good points Tom. Only recently have I been able to develop the discipline to avoid lesser quality coins and wait for the ones I really want. And as far as difficult coins the internet has been a godsend for me in obtaining tougher coins. One of my local B&Ms hasn't seen an early dollar in ages and he rarely ever comes across 19th century coinage in MS66 grade. Every now and then the local guys will have something I want or need, but almost all of what I'm looking for is easier found online.

rec78 · December 31, 2008 1:43PM

One of my local B&Ms hasn't seen an early dollar in ages and he rarely ever comes across 10th century coinage in MS66 grade. Every now and then the local guys will have something I want or need, but almost all of what I'm looking for is easier found online.

?10th century coinage in ms66? What kind of set are you putting together?

BBN · December 31, 2008 2:30PM

<< <i>One of my local B&Ms hasn't seen an early dollar in ages and he rarely ever comes across 10th century coinage in MS66 grade. Every now and then the local guys will have something I want or need, but almost all of what I'm looking for is easier found online.

?10th century coinage in ms66? What kind of set are you putting together?

>>

LOL thanks for catching that. I meant 19th century.

PaleElf · December 31, 2008 2:32PM

My trigger finger is always itching.

coindeuce · December 31, 2008 3:28PM

Anonymity can be significant also. To become known as a serious "R" set builder to sellers can affect the price of a survival rarity or a condition rarity. Greed by sellers strangely can show no boundaries when a captive audience is recognized.

PaleElf · December 31, 2008 3:46PM

Patience is a virtue

CertifiedGoldCoins · December 31, 2008 10:18PM

As an experiment, I threw about $5,000 into building a short set (1934-38) of Buffalo Nickels, and wound up with #14 across the street. (I realize PCGS has no such category.) Took me a few months. Given a bit more time, but only for several times that amount of money, I could have gone higher in the rankings. Seeing no point to doing that, I sold them all for about what I paid. Just not my cup of tea. Conclusion: the essential ingredient is M-O-N-E-Y.

sinin1 · December 31, 2008 10:36PM

PCGS has a short set of Buffalos

short set of buffalos - 61 sets

it is not just patience - it is cash when coins become avaialable

every once in awhile a set gets sold and there might be 3-5 upgrades for me in same sale
I will bid on most and may get 1 or none

Atlantic · December 31, 2008 10:55PM

Yes it does take time to find just the right coins, it took me over a year to fine the right 1871 for my set, they were way over priced or has some sort of problem that was not acceptable for my set,,

Coxe · December 31, 2008 11:15PM

I think registry sets introduce an additional layer of discipline required for some collectors. There are people who we know buy their way up in a registry, missing a great deal of the true pleasure of numismatics. Other participants sit on the sidelines, dowstream from pole position, with some varying frustrations. These collectors are looking for the right coins and not just the right tags form the right TPG(s). For such collectors, patience was always there and is part of the enjoyment of the hobby. It's not an impediment. I am not saying that SOME top registry participants are not excellent collectors, but I am saying there are some fantastic collections further downthe ladders and that SOME top sets are quickly assembled vanity products of reckless cash expenditures rather than carefully planned numismatics.

That all said, if one is truly into the registries and also a good colelctor, I would think the tough part is strategizing the crossover and regrade games to get their coins into the right plastic for registry insertion. Personally, though, I don't see why people conduct themselves with such meshugass. A hobby is supposed to be relaxing recreaction. Why get ulcers and go broke collecting coins?

coinkat · December 31, 2008 11:51PM

The key is having a keen understanding of the availability of the coins in the grade sought. While planning is smart and discipline is a wonderful thing... unfortunately, the best buying opportunities usually arise at the time you are not looking for that coin.

And yes, I am dead serious about my comments. If I went to shows looking for a specific date, and only that, I would have quit out of frustration years and years ago.

lkeigwin · January 1, 2009 12:12AM

Good points, Mr. Coxe. I agree. I've had to make a lot of calls on registry planning and crossing. Am I okay with a lower grade, crossover or crack-out, should I just sell and try to buy again, how much do I love this coin, how hard will it be to find the same or better, is this affordable, am I crazy for doing this, etc.

The competition is secondary. My early Lincolns were #4 ATS but I abandoned NGC and moved everything here. It is a much better collection today, at a modest #24. I doubt it will move much from there.

I like the registry set concept. I enjoy building and improving it with satisfying coins, knowing it's a collection built from personal choices. It's a great way to document and view the collection, which has many benefits.

RYK · January 1, 2009 12:15AM

I know I am jaded, but when I think of registry sets, I think of a competition between folks for common coins in uncommon condition where money is the key factor in building a #1 set.

Stepping aside from the registry qualifier, patience and opportunity are the two major considerations for building any challenging coin set. Money is usually the limiting resource that prevents one from buying everything that catches his/her eye. If you have enough money, adequate patience, and ample opportunity, no coin set is impossible.

leothelyon · January 1, 2009 12:17AM

I'll get that way especially after I've SEEN the coins in hand and then I'll know that I'll really want them in my set.
A couple of auction houses will credit you the money. Not sure, possibly Heritage, PCGS?

Leo

BBN · January 1, 2009 6:44AM

Yeah, I'll never have the money to have a very competitive set, but I do have enough to upgrade alot of what I do have. I love my MS62 half eagle. I could upgrade a point or two, but I love the look of it. My CBH could easily be upgraded from AU55 to MS62, but I like my CBH I got from busthalfnut.

And my Buffalo is only an MS64, but love the toning. I'll probably not ever get the early gold eagle. Probably not at least until after I'm retired. Not at that price.

Is patience one of the toughest parts of building a registry set?

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