I've decided that overall, I believe registry sets are bad for collectors...

[okbustchaser]

 

OK Say someone is a registry guy... Buys a Semi Modern MS 67 Washington Quarter. Say a 1945 S. Price is Say $1200.00 The Pop reports say 12... Just made up numbers... Anyhow then say Pop reports jump to 20 after more are sumbitted and or upgraded. Now the price comes down to $600.00 Was that MS 67 coin a good buy? I am not sure about you but I do not like to lose money.

 

I don't know. Did he break up his set and sell it at 600? If not, how did he lose money? If he did (does) sell at 600 the question then becomes did he receive 600 dollars worth of enjoyment from owning it. If so, then he STILL didn't lose money on the deal.

[DC Dawg]

OK Say someone is a registry guy... Buys a Semi Modern MS 67 Washington Quarter. Say a 1945 S. Price is Say $1200.00 The Pop reports say 12... Just made up numbers... Anyhow then say Pop reports jump to 20 after more are sumbitted and or upgraded. Now the price comes down to $600.00 Was that MS 67 coin a good buy? I am not sure about you but I do not like to lose money.

On Wednesday, after the chairman of Bear Sterns says the bank is just fine, you buy the stock at $30 believing the bank is fine. Bear Sterns files the appropriate reports to the SEC required by SOX regarding the announcement. By Sunday, the Fed is bailing them out to prevent a bank failure. The stock plummets to $8 at the close on Monday, $2 the next day. Was Bear Sterns a good buy?

 

Don't like that example? What about the person who holds the only "legal" 1933 Double Eagle--the so-called Farouk Coin? When it was purchased for $7.5 million, it was the only one known. Now, we know of 10 more that are currently tied up in the courts. What does that do to the worth of the Farouk Coin?

 

What about all those people who thought they had rare Morgans until the GSA started dragging bags of Morgans out of the basement of the Treasury and other buildings?

 

Sure, I would be upset if the price drops. But that's the way it works. It's a fluctuating market. Sometimes you win, sometimes you loose. If you win more than you loose, then you're ahead of the game!!

 

Scott

[DC Dawg]

We're back to the question: what or who is to say that their collecting choice is bad for them?

 

Scott

Anyone who cares to, just as anyone who cares to can say that their collecting choice is good for them. After all, we're merely offering (unsolicited) opinions, for purposes of discussion.

Even if you are just discussing it, I am pointing out the inconsistency of the discussion. Either you believe anyone can collect whatever they want and how they want, or you want to limit it based on some "standard." You cannot have it both ways!

 

Scott

[cladking]

I think virtually all coin collecting is good for the hobby in the short term and the long term.

 

To the degree that registry participants are doing something other than coin collecting that might not be good for the hobby. Say what you will but at least most of these collectors have competition or completion uppermost in their mind rather than "investment". It's investing in coins that tends to be bad for the hobby. Not that there's anything wrong with buying coins solely in anticipation of profit but when this activity artificially decreases supply or raises prices the hobby is hurt at least in the short term.

 

It's also true that some registry participants are more concerned with slabs than coins but this is to their own detriment rather than the hobby; the hobby only loses to the degree these folks get burnt on ill concieved or poorly timed purchases and as a result decrease their participation.

 

To date this hasn't been a major factor simply because the hobby is still increasingly valuing quality. So long as this trend stays entrenched it will bail them out of some of their more optimistic purchases. When it turns around then those who were chasing plastic and buying fully priced series will suffer the brunt of the drop. At that time there will be some damage to the hobby.

 

But this damage which will probably occur pales in significance to the damage done on a continuing basis by dealers who are rude to newbies, shysters, doctors, and some other of those who are active in the hobby or own collectible coins.

 

It also pales in significance to the continuing propensity of collectors to move into and out of series together leaving the hindmost to the devil.

 

 

 

 

 

 

[MarkFeld]

We're back to the question: what or who is to say that their collecting choice is bad for them?

 

Scott

Anyone who cares to, just as anyone who cares to can say that their collecting choice is good for them. After all, we're merely offering (unsolicited) opinions, for purposes of discussion.

Even if you are just discussing it, I am pointing out the inconsistency of the discussion. Either you believe anyone can collect whatever they want and how they want, or you want to limit it based on some "standard." You cannot have it both ways!

 

Scott

What inconsistency? I Do believe that anyone can and should collect whatever they want. And I Don't want to limit it based on any standard. But I still think that some collectors collect in such a way that is "bad " for them. Just as each of us probably does some things that we want to, but which are "bad" for us in one way or another. If you think that is having it both ways, I give up.

[dooly]

Ha Ha this is a funny post .. i think that 50% are taking this hobby to seriously and 50% are taking it for what it is "A hobby"

[IGWT]

What you really mean to say is that some collectors are prone to bad decisions . . . .

But I still think that some collectors collect in such a way that is "bad " for them.

 

I didn't put the words in your mouth that time.

 

 

 

 

[rons]

Verrrrrryyyyyyy interesting discussion. I believe that everyone has some valid points in this point-counterpoint debate. (thumbs u Something not touched on is the maturation of a collector with time. When I found the NGC boards and the registry set is was soooo exciting. I was able to finally enter my slabs WITH serial numbers so in the event of a break in I would have some record of my coin collection. Please understand I was too unmotivated to enter 400+ slab numbers for my personal records. Having the ability to enter the numbers AND watch as I climbed through the registry ranks was both satisfying, motivating, and challenging. I climbed to as high as #138 on the registry. Since that point, however, I have become focussed on my collecting and have begun the process of paring down the extraneous coins in my collection. Because I entered so many coins so quickly I did not have pictures or descriptions accompanying my entries. My photography skills need some more work but now I am making an effort to describe the coins as they are entered and will begin pictures this spring. I am settling into a more structured and focussed collecting mode and I believe the registry helped me to make this change. As Victor stated it is a tool and you must use it to your advantage. Sometimes it just takes some time for it to become an effective tool.

[physics-fan3.14]

^ Ron, that is a really good post. :thumbsup:

[Jeffrey Cardona]

Ha Ha this is a funny post .. i think that 50% are taking this hobby to seriously and 50% are taking it for what it is "A hobby"

 

Got to the the best one yet!! I have to agree...people are taking it why to seriously!! Sounds like a few are no longer have fun collecting...sounds like it has become a chore..or a bad habit...or something!!

 

I don't see how the regisrty is so bad as some of the posts here make it out to be. I collect what I like. If I get a bargain for it great...it I want to pay top dollar for it... great...if I want to show it off...great. If the value coins goes up or down....to me it's no big deal. I still will collect what I want. What I collect is in no way, shape, or form dictated by my registry or value of the coin. The registry is just a place for me to share with other people what I collect.

 

I think that alot of you are forgetting that people are inspired to collect.. coins, stamps, shoes, anything... in different ways. If they want the best that money can buy, or with certain toning, or maybe just the birth years of their family...more power to to them.

 

Now go out there and enjoy your coins...slabbed, raw, in registries, or a combonation of all! :)

[just-john]

Registry sets in the short term are the way to show to the collecting world you have the very best.But they could also show the collecting world that you have lost the most money

when it's time to sell

[physics-fan3.14]

Registry sets in the short term are the way to show to the collecting world you have the very best.But they could also show the collecting world that you have lost the most money

when it's time to sell

 

#1 rule of a bubble - sell before everyone else and make killer profit

[cladking]

Registry sets in the short term are the way to show to the collecting world you have the very best.But they could also show the collecting world that you have lost the most money

when it's time to sell

 

#1 rule of a bubble - sell before everyone else and make killer profit

 

 

If history is any guide then I'll be the first one out. I always get out too soon.