How much information do you require before you make a decision to buy a coin? 1 1

[Henri Charriere]

While I certainly admire the effort and extent some coin collectors expend in pursuit of their collections, and have marveled over those who insist on in-hand inspection, detailed photographs, price, etc., I have come to the realization that, without a single exception, I have compiled a collection, wholly sight-unseen, and as of now, with nothing more than three requirements: TPGS involved in the certification, Mint State grade assessed ( NO photos necessary) and of course, approximate cost.  That's it.

What I would be curious to know is whether beside myself, other members share that similar potentially consequential trait that allows them to engage in such activities, regularly.

If you don't, but were forced to throw all caution to the wind on at least one occasion, but made out okay in the end, what prompted you to embark on the risky undertaking to begin with?

Edited January 20 by Henri Charriere
Routine die-polishing

[powermad5000]

I can only respond as to the title of this particular thread. I need all the information I can get. I need asking price, I need photos (more than one and not blurry), I need mintage numbers, I need established TPG census figures, and I need background info if available and even after all of that, I still need to do an in-hand inspection upon arrival of the coin (or the coin out of the case if at a coin show). So I guess for online purchases, I also need a return policy by the seller.

A TPG slab might have a nicely graded but toned coin and I might not like the toning. A TPG slab might also have a coin that I believe to be overgraded and do not wish to pay the asking price.

[GoldFinger1969]

Obviously, depends on the premium to numismatic value and the total cost I am paying. 

I bought a common Saint at FUN 2020 after a few minutes of perusing.  I think it sold for spot bullion.  Was looking at buying an AGE and figured "why not?" in buying a common Saint in MS-63.  No downside price-wise.

OTOH, I spent YEARS researching the 1923-D while saving up for the coin.  At FUN 2020, I probably looked at a dozen or so 1923-D's...and waited 2 days to pull the trigger on the 1923-D.  Probably 4-5 trips to the coin dealers who had the coins I narrowed my final choices down to.  Probably spent 1-2 hours looking at all the coins before finally taking out the Benjamins. 

Edited January 20 by GoldFinger1969

[Henri Charriere]

On 1/20/2024 at 2:24 AM, powermad5000 said:

.... I need mintage numbers, I need established TPG census figures, ....

If anyone were to ever suggest they need mintage figures as well as certification figures to acquire a coin  -- never mind asking price or photos, that would signify a certain king of professionalism that transcends the albatross around my neck.  

As a Set Registrant, once you've made your commitment, all else are academic considerations. You have no where to.go but forward, and if after considerable scrutiny, it develops you bit off more than you can chew -- you've got to put that big H on your chest and handle it.. There was a time I suppose I could do my due vigilance,  but my approach was we"ll crorss that bridge if when we ever come to it.  Mintage figures? That's like picking up a Racing Form, studying the stats, and making your decisions accordingly. That's a sophistication limited in my series G20FR to just the two rarest in the series and the two most common.  Thanks for divulging your working agends.  

[Henri Charriere]

On 1/20/2024 at 2:44 AM, GoldFinger1969 said:

Obviously, depends on the premium to numismatic value and the total cost I am paying. 

I bought a common Saint at FUN 2020 after a few minutes of perusing.  I think it sold for spot bullion.  Was looking at buying an AGE and figured "why not?" in buying a common Saint in MS-63.  No downside price-wise.

OTOH, I spent YEARS researching the 1923-D while saving up for the coin.  At FUN 2020, I probably looked at a dozen or so 1923-D's...and waited 2 days to pull the trigger on the 1923-D.  Probably 4-5 trips to the coin dealers who had the coins I narrowed my final choices down to.  Probably spent 1-2 hours looking at all the coins before finally taking out the Benjamins. 

Well, what have we got here?  Sounds like like that life insurance commercial:  Price!  Price! and Price!  I still don't know if you have a Set Registry, but moving through the rarefied air of select circles, I am sure you are amassing a  very special collection.  Malheuresement, I am in too deep to turn course now but can claim a tribute from the Great z himself.  He begrudgingly had no choice but to concede my compilation at the # 1 spot elsewhere, was top shelf.  All the white noise that has issueth forth from his quatrrs since cannot negate that.  I am very impressed with your thread and ability to relate the all members, whales and.minnows alike, and your greatest coup:  to develop an easy, invaluable amiable report with RWB as well as your skillful ability in drawing out E.C.  It's not easy to draw those out who thrive under the radar to the blinding, all-revaling light of day .  Kudos to you on effecting that.  

[RWB]

Here are my buying criteria. They are likely very different than those of others.

1^st – Is the coin special in some way relating to numismatic research?

2^nd – Is it unique or readily available?

3^rd – Is it of superior quality with respect to the features that make it a research subject, or supporting evidence.

4^th – Cost to acquire. Is this possible?

5^th – Is it likely to increase in value or should it be disposed of quickly?

[VKurtB]

On 1/20/2024 at 9:39 AM, RWB said:

Here are my buying criteria. They are likely very different than those of others.

1^st – Is the coin special in some way relating to numismatic research?

 

2^nd – Is it unique or readily available?

 

3^rd – Is it of superior quality with respect to the features that make it a research subject, or supporting evidence.

 

4^th – Cost to acquire. Is this possible?

 

5^th – Is it likely to increase in value or should it be disposed of quickly?

 

Your needs are unique. Henri’s are a different kind of unique. He almost doesn’t care what a coin looks like. As long as it has the right shape of ink on that little paper tag of the correct color, he’s happy. This is what the concept of registry sets has wrought. You can decide for yourself whether that’s healthy for the hobby or not. As for me, I’ve given it a lot of thought and it’s “NOT”. 

Edited January 20 by VKurtB

[Henri Charriere]

On 1/20/2024 at 11:56 AM, VKurtB said:

Your needs are unique.

Based on a preliminary diagnosis relying solely on the symptoms self-reported, I am inclined to suggest Set Registry would not appeal to this contestant.  🤣

[USAuPzlBxBob]

Since my collection is complete already, and I've described my buying criteria thoroughly in my Registry Comments for each coin, this is my overall buying logic going forward:

• Do I feel like upsetting an apple cart?
• Will the seller accept one of my coins plus $$$?
• Is it worth plundering my entire Roth IRA, and then some?

Although I don't want to follow in the footsteps of Pat Hingle's Ace Stamper, Natalie's Deanie has its cautions, too.

"Though nothing can bring back the hour
Of splendor in the grass, glory in the flower
We will grieve not; rather find
Strength in what remains behind."

[Henri Charriere]

On 1/20/2024 at 12:15 PM, USAuPzlBxBob said:

 

• Is it worth plundering my entire Roth IRA, and then some?

 

The answer is a resounding YES!

Then again, when I suggested my wife was subject to sacrifice, Moderation overruled me in its own inimitable manner.  

That closing quote is deep.

[zadok]

On 1/20/2024 at 12:15 PM, USAuPzlBxBob said:

Since my collection is complete already, and I've described my buying criteria thoroughly in my Registry Comments for each coin, this is my overall buying logic going forward:

• Do I feel like upsetting an apple cart?
• Will the seller accept one of my coins plus $$$?
• Is it worth plundering my entire Roth IRA, and then some?

Although I don't want to follow in the footsteps of Pat Hingle's Ace Stamper, Natalie's Deanie has its cautions, too.

"Though nothing can bring back the hour
Of splendor in the grass, glory in the flower
We will grieve not; rather find
Strength in what remains behind."

...i dont think natalie was talking bout coins....

[zadok]

On 1/20/2024 at 4:29 AM, Henri Charriere said:

Well, what have we got here?  Sounds like like that life insurance commercial:  Price!  Price! and Price!  I still don't know if you have a Set Registry, but moving through the rarefied air of select circles, I am sure you are amassing a  very special collection.  Malheuresement, I am in too deep to turn course now but can claim a tribute from the Great z himself.  He begrudgingly had no choice but to concede my compilation at the # 1 spot elsewhere, was top shelf.  All the white noise that has issueth forth from his quatrrs since cannot negate that.  I am very impressed with your thread and ability to relate the all members, whales and.minnows alike, and your greatest coup:  to develop an easy, invaluable amiable report with RWB as well as your skillful ability in drawing out E.C.  It's not easy to draw those out who thrive under the radar to the blinding, all-revaling light of day .  Kudos to you on effecting that.  

...he never said anything bout top shelf, that would be reserved for a set of "top pops" only, lets try not to get ahead of ourselves here....

[zadok]

On 1/20/2024 at 11:56 AM, VKurtB said:

Your needs are unique. Henri’s are a different kind of unique. He almost doesn’t care what a coin looks like. As long as it has the right shape of ink on that little paper tag of the correct color, he’s happy. This is what the concept of registry sets has wrought. You can decide for yourself whether that’s healthy for the hobby or not. As for me, I’ve given it a lot of thought and it’s “NOT”. 

...what hath the numismatic god wrought?...the concept of registry sets obviously has invigorated n stimulated certain aspects of the hobby, whether its a positive influence is certainly debatable n only time will tell, perhaps when many of the registry number 1 sets r sold we mite get a better understanding of the resultant effects....

[zadok]

On 1/19/2024 at 9:32 PM, Henri Charriere said:

While I certainly admire the effort and extent some coin collectors expend in pursuit of their collections, and have marveled over those who insist on in-hand inspection, detailed photographs, price, etc., I have come to the realization that, without a single exception, I have compiled a collection, wholly sight-unseen, and as of now, with nothing more than three requirements: TPGS involved in the certification, Mint State grade assessed ( NO photos necessary) and of course, approximate cost.  That's it.

What I would be curious to know is whether beside myself, other members share that similar potentially consequential trait that allows them to engage in such activities, regularly.

If you don't, but were forced to throw all caution to the wind on at least one occasion, but made out okay in the end, what prompted you to embark on the risky undertaking to begin with?

...the same amount of info i need to purchase my toilet paper....

[VKurtB]

On 1/20/2024 at 12:05 PM, zadok said:

...what hath the numismatic god wrought?...the concept of registry sets obviously has invigorated n stimulated certain aspects of the hobby, whether its a positive influence is certainly debatable n only time will tell, perhaps when many of the registry number 1 sets r sold we mite get a better understanding of the resultant effects....

Making the collection objets d’art a competitive exercise strikes me (pun intended) as especially, and perhaps uniquely, insane. Along with all its other insanities, it incentivizes the slabbing of extraordinarily common coins. I know this for a fact. It has me searching for a lofty gradable 1965 Churchill crown. 

Edited January 20 by VKurtB

[USAuPzlBxBob]

On 1/20/2024 at 12:54 PM, zadok said:

...i dont think natalie was talking bout coins....

"Oh, I'm sorry Miss Metcalf."

[Henri Charriere]

Man I love this place!  This is where I belong.  🤣

[GoldFinger1969]

On 1/20/2024 at 10:39 AM, RWB said:

Here are my buying criteria. They are likely very different than those of others.  1^st – Is the coin special in some way relating to numismatic research? 2^nd – Is it unique or readily available?  3^rd – Is it of superior quality with respect to the features that make it a research subject, or supporting evidence. 4^th – Cost to acquire. Is this possible?  5^th – Is it likely to increase in value or should it be disposed of quickly?

HAVE you bought any coins that met those criteria lately ?

If not, what coin would you like to buy that meets them ?

[GoldFinger1969]

duplicate

Edited January 21 by GoldFinger1969

[GoldFinger1969]

Is there anything to the registry game that I am unaware of, aside from completing the task and the competition that I see with points tabulated ?

Are there prizes or anything ?

Edited January 21 by GoldFinger1969

[RWB]

On 1/20/2024 at 5:55 PM, GoldFinger1969 said:

HAVE you bought any coins that met those criteria lately ?

If not, what coin would you like to buy that meets them ?

Yes. A couple of Saudi gold discs as part of research into die varieties, and another coin to remain anonymous until I've completed research.

I would like to acquire all coins and data relating to 1921 Peace dollar proofs including the ones that are slabbed that way but are not real proofs.

Try approaching it this way: I collect pieces of history, economy, society, and American culture. I collect the information they might contain, and the coin itself is merely a carrier (and investment) of the item. Anything discovered, becomes available to collectors and numismatists through publication.

Edited January 21 by RWB

[Henri Charriere]

On 1/20/2024 at 5:56 PM, GoldFinger1969 said:

Is there anything to the registry game that I am unaware of, aside from completing the task and the competition that I see with points tabulate ?

Are there prizes or anything ?

CONGRATULATIONS ON YOUR TEN-YEARS (10) AS A MEMBER OF NGC!

HAPPY ANNIVERSARY!

Now what's this I hear about your making a basic inquiry regarding the Set Registry?  Am I to believe you have never investigated the matter personally? I am absolutely flummoxed. Gobsmacked!  I ought to hit you with the late, great Oldhoop's signature rejoinder:  Look it up! Sheesh.  

[Treeman]

Works okay if you only collect modern stuff. I was a collector of Large Cents, and, like most other Classic coins, all MS 65, MS 66, or for that matter, any other grades, are not equal. Even if, and that is a BIG if, the technical grades are equal, eye appeal is extremely important! Certainly was to me anyway....

[VKurtB]

On 1/20/2024 at 4:56 PM, GoldFinger1969 said:

Is there anything to the registry game that I am unaware of, aside from completing the task and the competition that I see with points tabulated ?

Are there prizes or anything ?

Yes, there are annual prizes, if you apply to participate. To me, a game in which points frequently change for accomplishment of the same outcome is a very strange game indeed. And yes, the same coin can, over time, have a different point score. It’s like making a field goal worth 4 points. Really odd.

[RWB]

On 1/21/2024 at 8:06 PM, VKurtB said:

It’s like making a field goal worth 4 points.

...but not every time, and you don;t know in advance.

Edited January 22 by RWB

[Henri Charriere]

On 1/20/2024 at 5:56 PM, GoldFinger1969 said:

Is there anything to the registry game that I am unaware of, aside from completing the task and the competition that I see with points tabulated ?

Are there prizes or anything ?

An article posted on 1/5/2024 and entitled "Congratulations to the 2023 NGC Registry Award Winners," explains everything in detail.and may be found by accessing it under NEWS via  the NGC Menu tab on the home page.

The third paragraph reads...   ""Winners in ...major NGC Registry Award categories receive a personalized plaque, an icon of recognition next to their [virtual] NGC Registry Set and a $500 NGC grading credit.  We awarded more prizes than ever for 2023 with a total value of more than $36,000!"

I would urge every member/guest/lurker who hasn't done so already, to read this article, in full.

On a more personal note, congratulations on your tenth-year anniversary as a member at NGC!

Edited January 22 by Henri Charriere
Routine die-polishing.

[zadok]

On 1/21/2024 at 8:06 PM, VKurtB said:

Yes, there are annual prizes, if you apply to participate. To me, a game in which points frequently change for accomplishment of the same outcome is a very strange game indeed. And yes, the same coin can, over time, have a different point score. It’s like making a field goal worth 4 points. Really odd.

...coin rarity assessment changes as additional coins r certified therefore coin points change accordingly....

[Henri Charriere]

On 1/23/2024 at 9:07 AM, zadok said:

...coin rarity assessment changes as additional coins r certified therefore coin points change accordingly....

True. I lost a top pop recently when an MS-67 ➕️ was certified.  If an MS68 is certified and added to a Set Registry, the "current finest possible set rating" changes accordingly.

🐓:  It's amazing what you can learn from someone who knows what he's talking about...

Q.A.:  ... hence the honorarium, The Great z. 

[VKurtB]

On 1/23/2024 at 8:07 AM, zadok said:

...coin rarity assessment changes as additional coins r certified therefore coin points change accordingly....

So then was the rarity incorrect before? Seems so to me. But then, since rarity is determined by what the TPGS has seen, and my deeply held belief that their pop reports aren’t worth the electrons used to produce them, the whole idea is “horse hockey”.

[Redline68]

On 1/21/2024 at 9:17 PM, Henri Charriere said:

An article posted on 1/5/2024 and entitled "Congratulations to the 2023 NGC Registry Award Winners," explains everything in detail.and may be found by accessing it under NEWS via  the NGC Menu tab on the home page.

The third paragraph reads...   ""Winners in ...major NGC Registry Award categories receive a personalized plaque, an icon of recognition next to their [virtual] NGC Registry Set and a $500 NGC grading credit.  We awarded more prizes than ever for 2023 with a total value of more than $36,000!"

 

The plaque is nice, the coin was nice, and the $500 grading credit...well, who wouldn't like that? 

I see no downside to the registry.  No one is forced to participate.