How does NGC handle registry sets that include coins that are no longer owned by the set builder? 0

[LNCS]

I know of one case (and maybe more) where set's still exist, but it is know the set has since been sold and thus no longer in possession of the individual with the registered set.

Are these every re-verified?

[Revenant]

We all know this is a problem and that it happens. The problem is you have to prove that the set no longer exists. If you can do that to NGC's satisfaction they may be able to take the set down / remove it from the registry but I don't think NGC proactively looks for these situations or revalidates sets - I've been a member here for about 12 years and I've never had to re-establish that I own a coin unless someone tried to add that coin to one of their sets and generated a conflict.

Such things (enforcement efforts) require time and effort and therefore cost money, and, like most enforcement efforts, you're going to spend 90-95% of your time "checking-up" on honest people just to catch a bad actor every once in a while. So I don't think it would provide a very good return on investment for NGC - just my 2 cents there. There's also the potential for this to make people shy away from the registry and hurt participation. the high value of coin collections tends to make us all a little more cagey about what all we have an where. If people start to feel like "big brother" is being too nosey about their collections and what they own it could have a chilling effect and make people decide the registry isn't worth it. You also risk offending people if they think you're calling them liars.

I can think of one person who two years ago claimed that they were going to rage quit the registry and NGC and sell all their NGC coins. Their sets are still in place last I checked even though the user hasn't been active / posted in about 2 years. Did he lie about selling all his stuff and rage quitting or was he just too lazy to do the right thing and remove all the sets from his registry? Knowing him, I can tell you which I think is more likely, but I can't prove it either way.

Is the set you're worried about winning / at the top of a category? If not, I don't think I'd care enough to raise cane over it - it's not hurting anyone really.

Edited January 13, 2020 by Revenant

[Ali E.]

18 hours ago, LNCS said:

I know of one case (and maybe more) where set's still exist, but it is know the set has since been sold and thus no longer in possession of the individual with the registered set.

Are these every re-verified?

Thanks for your interest, LNCS.

NGC does not monitor the buying and selling of coins in the marketplace. We rely upon the integrity of our owners to keep their sets up to date. If you can provide some type of proof, link to an auction website, for example, that a specific registry set has changed hands, then we will be happy to look into this. 

[LNCS]

In the Liberty Nickel sets, the #2 set, owned by Tom Crabtree has been sold to Gerald Forsythe (you can see this in the PCGS registry) Also, the BAXI set. I know the PCGS set was sold years ago, so not sure how accurate this set is.

 

[Ali E.]

2 hours ago, LNCS said:

In the Liberty Nickel sets, the #2 set, owned by Tom Crabtree has been sold to Gerald Forsythe (you can see this in the PCGS registry) Also, the BAXI set. I know the PCGS set was sold years ago, so not sure how accurate this set is.

 

Hello.

If you can provide some type of sales proof, link to an auction website, for example, that a specific registry set has changed hands, then we can proceed. We would need to be able to verify the actual certification numbers. Thanks.