Proposal for Competitive Registry Set of Prooflike Double Eagles 0

[Coagman]

Five years ago, I made a request to NGC to consider adding a new Competitive US Coins Registry set for Prooflike (PL) Double Eagles.  At that time, NGC politely responded that “this type of set is more appropriate for a Custom NGC Registry Set.” 

 

Over the past five years, Double Eagles designated as PL (and DPL) have gained in popularity, and the prices of these PL coins have increased significantly compared with similar coins not designated PL by NGC.  A few examples of recent sales of PL double eagles are listed below.  Virtually all of these coins would have sold within a few hundred dollar of melt value had they been typical non-PL examples. 

 

1907-D $20 MS63PL $4110 (Great Collections, June 2019)

1890 $20 NGC MS60PL $4800 (Heritage June 2019)

1872-S $20 NGC AU58PL $6600 (Heritage April 2019)

1873 $20 Open 3 NGC MS60PL $4080 (Heritage, April 2019)

1880 $20 NGC AU55PL $4560 (Heritage, April 2019)

1897 $20 NGC MS62PL $4320 (Heritage, April 2019)

1893 $20 $20 NGC MS63 $3583 (Stack's Bowers, Feb 2019)

 

I propose a new Registry category of Prooflike Liberty Head Double Eagles, Type 3, 1877-1907.  A vast majority of Type 3 Double Eagle dates/mints have examples designated as PL, although in some cases there are only a limited number available.  Prooflike examples are not available for most Type 1 and Type 2 Double Eagle dates/mints, so I recommend limiting the set to only Type 3s. 

 

I would be interested in hear what other forum members think about this suggestion.

 

NGC--Thanks for your consideration of this request. 

[RWB]

Displaying coins and exchanging information with others is great! Competition is unnecessary and more likely detrimental to all concerned. 

[coinman_23885]

The registries already award bonuses to PL/DMPL coins.  You could build a PL set there.  A special category could artificially increase demand and destabilize the market for these price wise to unrealistic levels. Many will also be moving ATS anyway as PCGS will now designate them as PL.

Edited June 23, 2019 by coinman_23885

[physics-fan3.14]

You'll be hard pressed to find anyone more passionate about collecting PL coins than me. However, I do agree with NGC that this would be better as a set in the existing category. For example, I'm working on a type set in PL only. I know a couple of other people attempting something similar, but I am working in the current defined 7070 set. The thing with the registry is, to create a distinctive set (and win the competition, so to speak), you need to do something that sets you apart from the rest. I focus on good pictures and descriptions to make a well presented set, but the PL coins speak for themselves. The registries award a PL bonus, so you would have a distinct advantage compared to other double eagle sets. There just isn't enough widespread demand for a PL-only set - as impressive as that would be. If you compete in the regular double eagle set, you can show an impressive set compared to its peers. 

And, because this thread needs pictures, here's mine: 

[Coagman]

Thanks for the responses. 

 

In another series (Morgan Dollars, PL and DPL Only), NGC offers a Registry category with only PL and DPL coins allowed (see link below), though clearly there are more Morgan collectors than double eagle collectors. 

http://www.ngccoin.com/registry/competitive/united-states/dollars/146/1/

 

NGC, until recently, has had a distinct advantage over PCGS by designating worthy coins as PL/DPL.  This advantage could be leveraged through their Registry program.  PCGS offers multiple Morgan Dollar sets in which only PL and DMPL coins are allowed.  I wonder whether PCGS will be adding PL/DMPL sets in other coin series now that they have opened the designation to all coins. 

 

physics-fan3.14 – Nice PL Double Eagle.  Here is another of the same date.

 

 

 

[physics-fan3.14]

1 hour ago, Coagman said:

In another series (Morgan Dollars, PL and DPL Only), NGC offers a Registry category with only PL and DPL coins allowed (see link below), though clearly there are more Morgan collectors than double eagle collectors. 

 

You've nailed the issue: there are many, many people who collect sets of PL Morgans. They are widely available, and there are enough of them that collecting a set is feasible (with a few exceptions). Collecting PL Morgans is a popular segment of the hobby..... collecting PL double eagles by date is not. 

[Coagman]

I agree that a PL double eagle set would not be nearly as popular as the Morgan dollar series with that designation, however, with the popularity of PL doubles eagles there would likely be some collectors who want to display these coins even if they can't complete an entire set.  In fact, I can think of less than a dozen collectors all time who have completed the entire double eagle series (minus the 1861 Philadelphia Paquet issue), so completion shouldn't be a requirement.

NGC has had a long standing thread asking for suggestions on new Registry sets, and currently there are over 78,000 for US coins with many more foreign coin sets.  To me, this doesn't seem to be an outlandish request to have a Registry set featuring PL doubles eagles

[Ali E.]

On 6/22/2019 at 12:31 PM, Coagman said:

Five years ago, I made a request to NGC to consider adding a new Competitive US Coins Registry set for Prooflike (PL) Double Eagles.  At that time, NGC politely responded that “this type of set is more appropriate for a Custom NGC Registry Set.” 

 

Over the past five years, Double Eagles designated as PL (and DPL) have gained in popularity, and the prices of these PL coins have increased significantly compared with similar coins not designated PL by NGC.  A few examples of recent sales of PL double eagles are listed below.  Virtually all of these coins would have sold within a few hundred dollar of melt value had they been typical non-PL examples. 

 

1907-D $20 MS63PL $4110 (Great Collections, June 2019)

1890 $20 NGC MS60PL $4800 (Heritage June 2019)

1872-S $20 NGC AU58PL $6600 (Heritage April 2019)

1873 $20 Open 3 NGC MS60PL $4080 (Heritage, April 2019)

1880 $20 NGC AU55PL $4560 (Heritage, April 2019)

1897 $20 NGC MS62PL $4320 (Heritage, April 2019)

1893 $20 $20 NGC MS63 $3583 (Stack's Bowers, Feb 2019)

 

I propose a new Registry category of Prooflike Liberty Head Double Eagles, Type 3, 1877-1907.  A vast majority of Type 3 Double Eagle dates/mints have examples designated as PL, although in some cases there are only a limited number available.  Prooflike examples are not available for most Type 1 and Type 2 Double Eagle dates/mints, so I recommend limiting the set to only Type 3s. 

 

I would be interested in hear what other forum members think about this suggestion.

 

NGC--Thanks for your consideration of this request. 

Hello, Coagman.

Thank you for the request for a new NGC Registry set. Once our senior team reviews your request, we will send am email to the email address we have on file for you. Thanks very much.

[Ali E.]

On 6/23/2019 at 1:59 PM, Coagman said:

I agree that a PL double eagle set would not be nearly as popular as the Morgan dollar series with that designation, however, with the popularity of PL doubles eagles there would likely be some collectors who want to display these coins even if they can't complete an entire set.  In fact, I can think of less than a dozen collectors all time who have completed the entire double eagle series (minus the 1861 Philadelphia Paquet issue), so completion shouldn't be a requirement.

NGC has had a long standing thread asking for suggestions on new Registry sets, and currently there are over 78,000 for US coins with many more foreign coin sets.  To me, this doesn't seem to be an outlandish request to have a Registry set featuring PL doubles eagles

Hello, Coagman.

Our senior numismatists have determined that this type of set is more suitable for a Custom NGC Registry set. This is due to the fact that the PL coins are scattered across several dates, and one could never have a "complete" PL set. Thank you and please let us know when we may assist next.