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Replies: 12 / Views: 1,169 |
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Valued Member
United States
272 Posts |
After reading the posts here about the value of the Presidential dollar coins, a friend and I were talking about why there were so many selling. I'm sure some of them are going to newer collectors, but I have seen quite a few of the PR70 and MS69+ being marketed as Registry class coins. Most newer collectors don't even know what a Registry Set is so that marketing must be directed are more experienced collectors. That being said, we came up with the question: Are Registry Sets, and the drive to get your name on top, artficially driving up the prices on coins that other wise would not command much of a premium?
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Bedrock of the Community
United States
14454 Posts |
registry set participants will always have a small part in the prices of MS/PF-70 coins being so high, in my opinion the only reason to pay for a 70 over a 69 is if you are trying to build a perfect registry set because chances are pretty slim that you would ever be able to tell the difference between a 69 or 70 when looking at the coin in hand without magnification
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Valued Member
 United States
272 Posts |
Bryan, I just took a look at your 7070 and all I can say is WOW!
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Bedrock of the Community
United States
14454 Posts |
Thank you, its been kind of at a stand still for the past month but hopefully next month I will be able to go ahead and get the rest of the coins needed to finish it up finally. I have been working on it a little over a year which I figured it would take allot longer to finish but once I got started I couldn't stop and every spare cent I had went into filling holes in that thing
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Moderator
 United States
23522 Posts |
quote: Are Registry Sets, and the drive to get your name on top, artficially driving up the prices on coins that other wise would not command much of a premium?
Absolutely. Of course. We humans are a competitive bunch. I do not accuse the Registry-builders of loving coin collecting any less than you and I - quite the contrary. I merely mention that they're expressing their competitive nature as much as their love of the hobby. When you're in a footrace, you run faster. When you're in a chess tournament, you think harder. When you're collecting coins, you spend more to get the next shiny object. It's competition.
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Valued Member
 United States
272 Posts |
So do you think these coins will retain their value long term?
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Moderator
 United States
23522 Posts |
quote: So do you think these coins will retain their value long term?
Nope. Not a chance. Value requires both rarity and demand to hold for the long term. The TPG's are handing out 69's and 70's like candy to the new "collectible" coins - nickels, quarters, and dollars. There are over thirty thousand PF69/70 of each 2007 dollar in NGC slabs alone.
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Valued Member
United States
66 Posts |
I am working on a Mercury dime registry set. It is such a marathon activity. I know I am never going to have the top set but I hunting for the coins I need is really fun.
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Member
United States
3242 Posts |
Robberbaron a registry set for Mercury's you need all MS-66-68fb it cost about $1450.00 or more per coin if there PGCS graded I hope you have a few million put away.
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Valued Member
United States
250 Posts |
I think the registry sets are interesting, but, that being said, I also think they are intended as a marketing scheme as well. I do have a Roosevelt set that I am attempting to assemble, but most likely, will never complete.
I think the term "registry" is very misleading. As long as a coin is graded by NGC or PCGS it can be added to someone's registry set. Take a look at some of the lower ranking sets and in some instances, you will see coins as low as MS 64.
All in the eyes of the beholder!
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Member
United States
3242 Posts |
I understand that but 75-90% are trying to out do the next person in grade. I know its all in the eye of the beholder but most folks thing mind better than your in that area.
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Bedrock of the Community
United States
14454 Posts |
quote: Take a look at some of the lower ranking sets and in some instances, you will see coins as low as MS 64.
When I had pretty close to a full date/mm set of Morgans my registry set was comprised of all MS-64 coins, I didn't go higher or lower than 64 for that set because I figured 64 was the best bang for the buck when I first started collecting. 65's were in some cases thousands more than a 64 so I figured 64's had no where to go but up in price (this was when I first started collecting and didn't really understand the whole grade thing, all I knew is that NGC or PCGS thought it was a tiny 1 point lower than 65). When it was about 95% finished my collecting interests had grown and I sold off most of them in the quest of a minimum of MS-67 Morgans for the Registry set. Well soon I got burnt out on collecting all together until I bought the Dansco7070 album because no matter what all the coins looked the same for the Registry set (after you had already discovered all the different VAM's you had collected) so then I started selling off the MS-67 and above coins to fund the Dansco7070. I did at one time have the #1 Registry set of 1878 B1 Reverse Morgans and I think my date/mm set was up to like 30th place when I started selling them off (I still had quite a few coins to go for this set to be complete)
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Pillar of the Community
United States
1934 Posts |
Bryan said, "...in my opinion the only reason to pay for a 70 over a 69 is..."
I agree; however, there is a difference between 69 and 70 and reason for the difference, regardless of coin, denomination, year, yes?
Overheard, "having a 70 is like hitting the lottery twice."
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Replies: 12 / Views: 1,169 |
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