Finest Known Trade Dollar Sets, both Mint State and Proof, are Highlights of PCGS Set Registry^TM

The popularity of the PCGS Set Registry has made available a fountain of information on coins and collectors. Not only is the competition strong on modern issues and 20th century sets, there are also some mind-boggling classic rarities that have made their way to the stage. Few sets ever assembled of any denomination can match the current #1 Trade dollar sets for rarity and beauty. PCGS Authorized Dealer Legend Numismatics of Tinton Falls, New Jersey, assembled both the #1 Mint State and #1 Proof Trade dollar sets for a client.

"The Trade dollar sets are a forever project," says Laura Sperber of the Legend staff. "It took five years to complete the sets as they now stand. The fact that the Eliasberg collection came on the market helped immensely in locating the key dates in such outstanding condition. Other extremely impressive coins came on the market during this time as well. It was a case of being in the right place at the right time."

If the sets are a "forever project," as you say, then upgrading the sets in the future is a possibility? "Sure, upgrades are a possibility, but the coin would have to be significantly better and the price would have to make sense," Sperber said.

Readers of this article are urged to view the photos of these two magnificent sets online at the PCGS Set Registry. Almost every coin is the finest graded or tied for that honor, and the spectacular colors will make a Trade dollar fanatic out of anyone.

Major contributor to other sets as well.

There are other sets on the PCGS Set Registry that Legend has made major contributions to, if not building the sets outright. Among them are the Law Mint State Barber Dime set (currently #2), the Legend (or TCG) Peace dollar set (currently #3) and the Shalor Commemorative type set (soon to be posted).

What else is on the agenda? "We hope to add a complete set of Bust dollars by the end of the year," Sperber added.

Capturing the prize.

In a recent interview for the weekly PCGS online article on the rare coin market, Ms. Sperber noted that the rare coin market is no longer about looking at sheets to make certain that you didn't pay 2% too much for something. Instead, it's about "capturing the prize," meaning obtaining the finest coins even if it means stretching to do it.

"The PCGS Set Registry has created an amazing level of competition for coins. There are so many collectors who are striving to complete the number one set. This, of course, has lifted the value of the coins at the top end of the grading scale."

Is that good? "Of course it's good. The collectors are extremely proud of their sets, as well they should be. What used to be classified as 'enthusiasm' is now more accurately called an outright passion. Perhaps most important of all is that the market isn't exclusively dealer-driven any more. Things have changed dramatically."

Hey, Laura! Tell us a good story.

The Internet has changed the rare coin market in many ways, as you can imagine, but sometimes the changes are unprecedented. For instance:

"One day at the office we received an e-mail from Bombay, India. A collector wanted to buy a PCGS MS66DMPL 1885-CC Morgan dollar that we were offering on our website. He also stated that the coin was from the Wayne Miller collection, a fact that we hadn't noted ourselves. He was able to pick that up just from the scan on our site. Amazing! It's not unusual to sell a coin to collectors in Germany or Japan, either."

An overall assessment of the market.

With the rare coin market showing strength in so many areas are there any possible pitfalls that seem imminent? "Lack of material seems to be the only short-term threat of any kind," Sperber said. "Anything that fits the top level of the PCGS Set Registry doesn't stay around long, and all of the Bust material through 1839 is selling extremely well, showing that this market has expanded from just the early dollars to now encompass all denominations. The pre-1915 cameo Proof coins have also joined in the high activity."

What about pedigreed coins? "The most popular pedigree of all is Jack Lee. That pedigree is incredibly powerful, both because the coins are so great and he's such a popular person. The Eliasberg pedigree is extremely strong, too. There were too many Eliasberg coins on the market for a time, but now they're scarce and a lot of people want to own a coin or two from the greatest collection ever."

Anything else? "With the focus on number one coins, the mid-range coins are being overlooked in some series. There are some great values there."

Thanks, Laura!