On the cancelled chip question, I have not had a drilled or notched chip repaired, but realisticially, if offered the choice between a cancelled chip and one that had been expertly repaired, I would pay a premium for the repaired chip. TCR should not take a poisition of what the collector should collect, but be a neutral reporter of what has been found and of what collectors have been willing to pay for them. IMO, observations on what is "good for the hobby" have a place in editorials in the club magazine or bulletin board, but not in an independent reference guide.
I will add to the wish list for TCR, generation II. It's obvious from discussions on this bb that many collectors do not clearly distinguish between scarcity (rarity) and value (reported sale prices). James' book addresses rarity in a numerical code based on the number of chips he has seen and can reasonably speculate are available to the collector. Where a hoard exists that is "unavailable", he notes it, but doesn't change the Rarity Code. This makes sense to me. He also adds selling prices with a range based on condition, which is very useful.
I'd like to see TCR include in the front matter a few paragraphs on the interrelationship of scarcity, condition, and value and include a scarcity or rarity code in the chip listings in some fashion. I know these matters require subjective judgement in addition to collection of data, but that's why reference guides are written by experienced collectors.
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