Changes are needed now for Registry Set Awards! posted by walnutto

[CSJournals-migration]

Registry Awards have lost their luster!

 

Again, This may come across as mean and a poor sport but changes are needed for the registry awards.

 

Cancer has spread across many registry sets and doesn't seem to have any cure or is slowing down. LLC's have taken over many modern sets buying up all high grade coins overpaying many times what the coins would be worth in the future all for a small piece of paper saying...I'm am number 1 again... but it also is saying "I have unlimited resources with no liability or concern."

 

This is NOT what the intent is with registry awards that is only about the $$$. It is a hobby and a lot of us spend the time and effort find those raw coins and grading them ourselves and then having them graded. There is pride and joy for that reward. It is great having a number one set when there is effort on our part.

 

All major league sport have adopted a even playing field so all teams have an equal advantage so no one team can acquire all the best players with an unlimited budget. This causes more competition and attention and hope for all the teams.

 

I personally have stopped trying to chase any registry set that has a "LLC" in that set. There will be no competition for those sets because of the unfair advantage. Isn't the registry for everyone not just the rich or hide under the corporation laws that protect them. I see a real decrease in modern sets since only a select few can chase the number one set. I still don't understand if someone has unlimited wealthy, why on earth bother with modern coins at all. Go play with the big boys on gold and high end Morgan dollars and older more scarce coinage.

 

I propose that either all registry awards be stopped until this "cancer" can be controlled and can be more open for everyone whether you have wealth or not. Or limit the number of awards that can be offered so more members have a better chance to increase competition again.

 

All we ask is that this society remain fair for everyone. Lets not reward the "LLC's" anymore.

 

See more journals by walnutto

[THE WELSH DRAGON]

Hello fellow collector,

I was wondering what a "LLC" is?

Thanks

[matthewmetcalfe-migration]

I look at it this way: I build a set that I'm happy with based on my own parameters. I'm never going to compete with someone who can afford to build collections of $1000+ coins. Whether it's an LLC or not doesn't matter.

 

If banned, an LLC could just change their registry name to not have an LLC. But I don't think I would ban them. In many cases an LLC can be a single person.

 

I'd rather see an LLC registry set with pictures and descriptions than an obscured registry set or one with no pictures at all. Even then people have their own reasons for obscuring and including pictures.

 

TO each their own. I'll build the best sets I can and let them stand on their own. I don't care to keep up with Jones, LLC.

[Jeffrey Cardona]

I believe that a collection should be driven what you like and enjoy collecting. If the main goal is to get as many points as possible or try to beat someone else in a registry, takes the fun out of. It would seem to me that "keeping up with the Jones's" or "mine is better then yours" is not a very good mentallity to take in any type collecting adventure...IMHO.

 

Enjoy them coins...no matter what place you are in.

[hunter's gold]

A LLC (Limited Liability Company) can be a single person or a partnership owned by many people. I do believe that anyone should be able to compete. I collect Lincoln pennies and I will never be able to catch the top registry set owners whether owned by a LLC or individual collector. I scrimp and save and collect within my means and add and upgrade when I can. My collections are also investments. Even as a kid I always tried to buy coins that would appreciate in time. I enjoy collecting whether I am #1 or #1,000,000.

[moondoggy]

I agree with most here that your sets are just that. Your own personal work that goes into them and the pride you have with each and every coin you have labored to acquire to add to your sets. Sounds like you are wanting the "award" and value it more than your coins. Most here will never attain the "rank" of NUMBER 1 and at the end of the day, most really don't care.

If you don't have pride in your collection for what it is, why are you doing it ? I don't need a piece of paper to tell me what I already feel.

[Six Mile Rick]

Really, At the end of the year I won't be looking for awards for my sets. More than likely I will see how far I am in each and figure out what I want to accomplish the next year.

I am truly awarded each time I pull a certain set out (OF MINE) and marvel at it's beauty. I do sometimes check the top 10 sets to view their awesome pics if available.

 

HAPPY COIN COLLECTING

[Merlin8*]

Howdy Friends,

 

My first registry set was a Franklin Proof set, 1950-1963, I didn’t check the registry standings for that set before deciding whether to collect the coins. I love silver half dollar coins and that’s why I collect them. It’s taken me almost two years to achieve the 22nd ranked set at less than 3300 points, #1 is at almost 14000. So I am under no illusions that I will ever have a #1 set of Franklin Proofs and I’m fine with that.

 

I understand the point however and it is frustrating when one does not have the resources to compete. Would “honorable mention” recognition from NGC be appropriate or say a “Top Ten” placard next to your name similar to the Journal Award?

 

Just a thought, Larry

 

 

 

[Mokiechan]

All major league sport have adopted a even playing field so all teams have an equal advantage so no one team can acquire all the best players with an unlimited budget.

 

Except for Baseball where the rich get richer and the once proud Pittsburgh Pirates face their 20th losing season in a row.

 

But, you're right in every other respect.

[Kenneth F]

Banning some rich guy (or group of) because they can horde all the "cool" coins is petty. Its like hating the kid up the street because he has all the GI Joes and you dont. Just like everybody said here, collect what makes you happy. Dont let all the LLCs in the world drive your goals. I started collecting Morgans. Hell, I spent over 75% of my enlistment bonus buying up Morgans, certified and not. I know there is no way Ill even rank in the top 100 with my collection.. doesnt matter to me. I have tons of Morgans. I need to be on A&E Intervention for my Morgan hoarding habit. ha ha ha.

 

The Pirates.. keep the bottom of the standings intact for 20 years... and going strong.

[Thunaer]

Ouch... tough one...it's imperfect world we live in, and it's hard to work out perfect solutions.

 

To begin, I'm not from U.S, it will have some bearing in final thought.

 

Some can afford more some can afford less, that's the way it's been for ages.

I could use some car/villa/house/whatever reference here, but there would probably be no point in it.

 

The real question as far as the hobby goes is, which set is more deserving of recognition?

The set that was built in days by throwing 100k$ in it or that made in years for 2k?

Is it the one built solely of top ever graded, or set of middle ranged grades?

 

Perhaps even more relevant to the matter... do I collect for recognition, or I do it for myself?

 

If set was built in days for limitless budget... than it was most likely born not of passion but of a whim.

 

But if You look at top grades and middle ones, they both have same in common, it took time to collect them. even with limitless budged, say I won the lottery and want 1933 (to my knowledge it's extremely rare coin) double eagle, somehow I think i won't be able to get it just like that. Ultimately in Top notches is not just the money, it's time and effort to find them in the first place.

 

Ultimately we all buy coins the best we can afford right? So say You buy 50$ Morgan and someone else has 1000$ Morgan, so You buy it knowing it's nowhere near the top notch. And in all likelihood You don't see it as "it's nowhere near the top notch but what the hell, can't afford better anyway". More like "Damn that 1000$ Morgan is great... but hey look what a beauty i managed to get for 50$!"

 

Yr probably just as proud of yr coin as the guy with top notch is, if not even more.

 

As I said I'm not from U.S. grading of 10 coins via polish dealer in one month is not doable for me, financially, not possible. I don't think of myself here a s "oh poor me...", I'm proud of every single coin I own, graded or not.

 

I'm trying to make a point how I see the set registry,

matthewmetcalfe said he'd rather see LLC's set with pictures rather than obscured private set, I make point of not putting a coin into registry without a pictures, my interests are mainly in Polish coins, there aren't that many competitive sets there. Hell, I don't even care much for the "competitive" part, I use them because it's nice orderly and systematic. And why I do it? To share what I have, to put them on virtual display, where everyone who wishes it, can see them.

 

Granted, reward system is not perfect, but to quote moondoggy "I don't need a piece of paper to tell me what I already feel." or even best in category designation.

 

And finally.. years and years ago when collectors met, they would show each other their coins, not to brag "ha, mine are better", just to admire them as they are. And that's how I see registry, as a means of convenient sharing of One's collection with the community.

 

Happy and passionate collecting to You all!