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New "Everyman Collections" at PCGS

Started by Desert Gold,

19 posts in this topic

MercuryMan

MercuryMan

Posted
Posted

Seems alright to me. Many people cant compete in the high grades and dont want to intentionally go with the lowest quality coins.

I agree it is a marketing gimick but one that many people will enjoy.

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World Colonial

World Colonial

Posted
Posted
Yeah, not to be a downer but it seems kinda dumb. I get the whole "lowest grade" sets, some people think they're kinda cool. But this idea - I don't see the point.

 

Maybe I am of the few who do not get the lowest graded sets concept. It seems like a page taken out of Bizarro World to me if I understand it correctly. Paying relatively large sums of money to find the worst coin that can possibly be found, or that will grade anyway. I find it ridiculous.

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Revenant

Revenant

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Posted
Sounds like a new marketing scheme to encourage the grading of more non-MS coins.

 

I believe you hit the nail squarely on the head.

 

That was my first thought as well. These coins will have to be graded to be in the set, but how many people would normally slab such coins (assuming most of these coins are not going to be ultra-rare high grades)?

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James_OldeTowne

James_OldeTowne

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I just saw that PCGS has created new Everyman Collections that only allow you to register circulated coins. This is an interesting idea in my opinion. What do other people think?

It's insulting. It basically tells you that if you can't afford BU coins (60+), then you are a second-rate collector, and belong in the second-tier registry.

 

This is just the type of foot-in-the-mouth mistake that PCGS always seems to embrace.

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WinstonWare

WinstonWare

Posted
Posted
I just saw that PCGS has created new Everyman Collections that only allow you to register circulated coins. This is an interesting idea in my opinion. What do other people think?

It's insulting. It basically tells you that if you can't afford BU coins (60+), then you are a second-rate collector, and belong in the second-tier registry.

 

This is just the type of foot-in-the-mouth mistake that PCGS always seems to embrace.

 

I agree with James. It’s classist. I’d be embarrassed to be a part of it.

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Simple Collector

Simple Collector

Posted
Posted

Interesting enough, I was looking on Ebay this morning and, lo and behold, someone had a quite a few "Everyman's" coins listed in several denominations. I was not aware that PCGS had added this collection, so at the time, I was completely stumped as to what the heck he was listing. Ironically, all of the listings were graded by PCGS as AU-58!

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WinstonWare

WinstonWare

Posted
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I had to go back and find my rants on this subject from a different thread:

 

A coin doesn’t have to be MS to be *spoon* 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.

 

Another responce in the same thread...

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.

 

Old Everyman Thread

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coinman23885-migration

coinman23885-migration

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That's nauseating. Who would pay $11.99 for an AU58 1958-D dime? For that price you could by a MS65, perhaps MS66. I'm sick of the hubris that PCGS has exuded throughout the years as they proclaim themselves to be the number one grading service and "the standard." Up until recently, the only thing that I felt PCGS had over NGC was that it would guarantee copper coins - that is, if the coin turned in the PCGS holder even if it was due to natural processes, PCGS would still buy back the coin. (Note that is no reflection of the grading skills and expertise at NGC - I actually prefer NGC over PCGS.) NGC, however, would not guarantee copper coins prior to April 2001, and now only offers a 10 year guarantee. INTERESTINGLY ENOUGH, PCGS has abandoned this process and refuses to honor its guarantee for any coins slabbed or sold (i.e. including those already slabbed) after January 1, 2010. See new PCGS guarantee policy linked here (( Is is just me or is this breach of contract since many people have already bought the coins and detrimentally relied on the PCGS guarantee? Any thoughts here?)) This makes me wonder whether PCGS will continue its dominance in the market, or whether the premiums that NGC coins first commanded over PCGS coins when NGC first entered the market in 1987 will return.

 

With that being said, I would not want to participate in an "Everyman" set because I think the entire idea is outlandish, and it will arbitrarily raise the values on lower end coins - a mini-economy that will collapse under the weight of numismatic market factors. With that being said, I understand that many collector's do not feel that they can participate in the registry sets for lack of money. I'm a college student with a limited budget; however, I would rather have one gem MS66 liberty head nickel than 1,000 culls in PCGS plastic that cost more than the coins are really worth. This is the same strategy that I use on my registry sets - I may build my set one coin at a time but at the end of the day, I can relax and know that my Liberty Head Nickel is tied for the finest known (with a tiny population to boot). Obviously my set will take longer to complete but it will be a better investment that will reap nice dividends in 20-30 years, and building the set is part of the fun anyway.

 

 

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coinman23885-migration

coinman23885-migration

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How about a "Smart Man's (or Woman's) Registry"? This would include registry sets for people who don't :

 

a.) waste large sums of money on circulated, common date coins that can be readily found in BU condition for pennies more

 

b.) people who pay outlandish premiums for modern coins in higher grades that sit in modern proof sets or mint sets waiting to be slabbed when someone who's interested comes along, increasing the population and lowering the value significantly (if you need proof of this [double entendre coincidental], look at what happened to the PF70 market for state quarters, etc.).

 

c.) those that are price conscientious (i.e. what is the 'collect-able' grade? If the price for MS67 is $3500 why not buy the MS66 for $250 instead?)

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