• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

Are you going to participate in the PCGS "Second Tier" Registry Set?

Started by DC Dawg,

40 posts in this topic

DC Dawg

DC Dawg

Posted
Posted

PCGS Set Registry Launches 'Everyman' Collections Category

- September 17, 2009

 

(Newport Beach, California) – The Professional Coin Grading Service has established a new category in its popular PCGS Set RegistrySM program, the "Everyman" Collections. No coins graded higher than AU58 can be registered in this category. (emphasis added)

 

"The PCGS Set Registry is home to many of the finest collections ever assembled, but some collectors have stayed away from 'the classics' because the costs to acquire Mint State or Proof specimens are prohibitive. So, we've created a way for all levels of collectors, entry-level through experienced, to enjoy the fun and competitive nature of the Registry without spending a fortune on Gem Mint State coins," said BJ Searls, Set Registry Manager.

 

"Major Registry categories will now have a separate Everyman Collections listing where the highest graded entry will be AU58. With Everyman Collections there's a good chance your set will rank in the top 20 on the first page, rather than near the bottom of the third or fourth page of that group."

 

So... what do you think? hm

 

Scott :hi:

Link to comment
Share on other sites
Schatzy

Schatzy

Posted
Posted

I think it is just stupid. Even in the second tier set you will still have people that will only have the AU58 in their set.

I don't understand what it matters what page you are on or were you rank.

Link to comment
Share on other sites
WinstonWare

WinstonWare

Posted
Posted

Or maybe the body bag registry. hm

 

lol I like that one!

 

A coin doesn’t have to be MS to be in cool – and many circulated coins are quite expensive. The “Everyman” moniker for these new sets reeks of classism. I’d be embarrassed to have been part of the team that came up with the idea of these sets. To me, this is a good example of how pcgs is out of touch with coin collecting. It’s not about how much one has to spend; it’s about the time invested, knowledge gained, hobby friends made and the enjoyment of collecting coins. Whatever...I find this mildly offensive and highly annoying.

Link to comment
Share on other sites
MunkyMan95

MunkyMan95

Posted
Posted

Or maybe the body bag registry. hm

 

lol I like that one!

 

A coin doesn’t have to be MS to be in cool – and many circulated coins are quite expensive. The “Everyman” moniker for these new sets reeks of classism. I’d be embarrassed to have been part of the team that came up with the idea of these sets. To me, this is a good example of how pcgs is out of touch with coin collecting. It’s not about how much one has to spend; it’s about the time invested, knowledge gained, hobby friends made and the enjoyment of collecting coins. Whatever...I find this mildly offensive and highly annoying.

 

I've always felt that when comparing the two services (NGC and PCGS), NGC genuinely cares about the hobby, and PCGS only cares about the business aspect (making money).

 

I don't have any facts to back that up, and the reader may completely disagree with me, but that is how I feel.

Link to comment
Share on other sites
Old Pueblo

Old Pueblo

Posted
Posted

People of the forum, are you telling me that PCGS doesn't allow NGC graded coins in their registry? Wow...I did not know that.

That my friends calls for a great big coin collector BOOOOO! 2c

Link to comment
Share on other sites
JCM-Houston

JCM-Houston

Posted
Posted

Nope, all mine, including the 20-30% in PCGS holders are in the NGC registry where they will remain. I think the everymans tier is a joke also, I enjoy looking at nice classic sets in well matched EF grades as much as any of the sets because I appreciate the time and effort someone took to build the set.

Link to comment
Share on other sites
WoodenJefferson

WoodenJefferson

Posted
Posted

After you spend you hard earned buxs on yet more packets of Kool-aid, the "Second Tier" will quickly become the "Second Tear" registry.

 

What the heck ever happened to Numismatics?

Link to comment
Share on other sites
DC Dawg

DC Dawg

Posted
  • Author
Posted

Gee... I don't feel so bad for writing on my blog: Let’s see how many circulated 1935 Mercury Dimes (valued at $11 in AU58 according to the PCGS price guide) will be submitted for grading at $15 per coin in order for them to be entered in an “Everyman” set.

 

Scott :hi:

Link to comment
Share on other sites
Just Bob

Just Bob

Posted
Posted
"The PCGS Set Registry is home to many of the finest collections ever assembled, but some collectors have stayed away from 'the classics' because the costs to acquire Mint State or Proof specimens are prohibitive. So, we've created a way for all levels of collectors, entry-level through experienced, to enjoy the fun and competitive nature of the Registry without spending a fortune on Gem Mint State coins," said BJ Searls, Set Registry Manager.

 

 

I wasn't aware that the registry was preventing people from collecting classic coins. hm

Link to comment
Share on other sites
Old Pueblo

Old Pueblo

Posted
Posted

Maybe PCGS could charge.... say, 2 to 3 dollars for circulated coin grading. That might drum up some business or interest in their "everyman" program. lol

Personnally, I am not interested in their scheme.

Link to comment
Share on other sites
World Colonial

World Colonial

Posted
Posted
"The PCGS Set Registry is home to many of the finest collections ever assembled, but some collectors have stayed away from 'the classics' because the costs to acquire Mint State or Proof specimens are prohibitive. So, we've created a way for all levels of collectors, entry-level through experienced, to enjoy the fun and competitive nature of the Registry without spending a fortune on Gem Mint State coins," said BJ Searls, Set Registry Manager.

 

 

I wasn't aware that the registry was preventing people from collecting classic coins. hm

 

Me either. But the good news now is that instead of spending a fortune on the coins, the prospective participant in this new concept can spend a fortune on plastic with lower numbers.

Link to comment
Share on other sites
World Colonial

World Colonial

Posted
Posted
Gee... I don't feel so bad for writing on my blog: Let’s see how many circulated 1935 Mercury Dimes (valued at $11 in AU58 according to the PCGS price guide) will be submitted for grading at $15 per coin in order for them to be entered in an “Everyman” set.

 

Scott :hi:

 

I read your blog entry and I agree with what you said except for one thing. For the most part, I do not believe there is a shortage of high or higher grade US material waiting to be graded. Some yes, but most no.

 

I am not a specialist in any of these series so someone who has been a long time collector can add to or correct my comments as necessary. For many or most coins that were issued prior to 1858 which is when I understand numismatics is generally recognized as being an organized hobby, I would expect far fewer survivors and for the "low" mintage dates, the populations are probably reasonably representative of actual scarcity and availability. The same applies for expensive coins because their value provides an incentive to have them graded. The 1878-S half dollar, a known rare and expensive coin, is an example.

 

But for most of the other US classic coin dates or series that have low census populations, my opinion today is that it is mostly a function of collector preference for raw versus graded coins, at least for coins up to low to mid mint state grades.

 

Additionally, if the premiums for raw versus graded specimens are not that large, there is less of a reason to have them graded. That's one of the reasons I expect this marketing gimmick to go nowhere. I know economics is not as important to most collectors as it is to me, but if there is no added economic value, then its only reasonable to expect the vast majority of collectors to display a preference for using their limited funds to buy coins instead of plastic.

 

But to give you a couple of comparisons, the 1795 half dollar (all varieties) has a NGC census population that is much higher than most Liberty Seated and Barber halves. Now I know that the 1795 census includes a large number of circulated examples, but I stil counted 33 MS coins as of today. And given that there were virtually no collectors of US coins in 1795, that is a reasonably high number of surviving specimens. Offhand, I would expect that the typcial number for most Barber or Seated halves to be a large multiple of that, though obviously the exact number will vary by date and mintmark combination..

 

Another example is with one of my series, South Africa ZAR. The census numbers on this series are the highest of any world coins other than a handful of modern issues such as the South Africa Mandela issues.

 

Even the mint state numbers on a few of these coins approach or exceed many of the Barber half dates though I am excluding the PCGS census from the comparison. The ZAR and early Union South Africa were an economic backwater. Though some coins are known to have been saved in large numbers, few were. Though uncirculated issues from the Barber half series might be scarcer than I believe, the likelihood that there are a comporable number of high grade surviviors between these two series I would rate as essentially nil.

Link to comment
Share on other sites
Doogy

Doogy

Posted
Posted

It reeks as nothing more than a cash grab. This "hey, let's convince folks that slabbing $10 coins is worthwhile too!" mentality cheapens the hobby, and only hurts the same smaller collector they portray that they are trying to include. It is nothing more than a spin on the whole low-ball registry mess, which is even more absurd in my opinion.

 

 

 

 

Link to comment
Share on other sites
PerryHall

PerryHall

Posted
Posted
"The PCGS Set Registry is home to many of the finest collections ever assembled, but some collectors have stayed away from 'the classics' because the costs to acquire Mint State or Proof specimens are prohibitive. So, we've created a way for all levels of collectors, entry-level through experienced, to enjoy the fun and competitive nature of the Registry without spending a fortune on Gem Mint State coins," said BJ Searls, Set Registry Manager.

 

 

I wasn't aware that the registry was preventing people from collecting classic coins. hm

 

Me either. But the good news now is that instead of spending a fortune on the coins, the prospective participant in this new concept can spend a fortune on plastic with lower numbers.

 

Agree. I never saw the need to buy into the registry hysteria.

 

 

 

 

 

 

 

Link to comment
Share on other sites
WinstonWare

WinstonWare

Posted
Posted

I say that it reeks of classism because the set names have nothing to do with what the sets consist of. They are named “Everyman” collections yet they consist of circulated coins. Had they been named “Circulated Registry Sets” I think they would have been more well received. My thinking is that PCGS named them “Everyman” sets to make a clear distinction from their perceived prestigious Registry Sets. I agree with everyone that it’s also money-making ploy. It’s just done in a way that I find both classist and elitist.

Link to comment
Share on other sites
Go to topic listing