New Member - Purchased A Dansco 7070 This Week

welcome back to collecting. I think the type set would be a great accomplishment and yes alot of people like them. but I think atleast on this forum that any set someone complete is considered great and get alot of praise. I myself felt it a very big acomplishment when I got my Mercury dime set almost complete except the 1916-D and I think even when I get my type set done I might still me more proud of that set then any other since it was my first set.

I guess that really didn't answer your question but I don't knwo if the type set hold any greater level then a Lincoln Cent set does. I think it is just a mater of taste. But with that said I think it is a goal of most not all more serius collector like most of use here. I say serius since most of use spend alot of time learning and sharing and looking at coins on this board. I think it is all f our goal to one day finish a type set.
Just my opion.

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Is completing a 7070 considered to carry weight among fellow collectors, ie. respect, or is it commonplace?

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Both. It's as close to a "universal" goal as you'll find in our hobby, and many collectors accomplish a complete 7070 during their career. However, as has been mentioned, such an accomplishment shows dedication and motivation. Very few of us are of the "Dansco in one day" demographic, so we understand what it takes for an average Joe to get it done. It's a mark of respect for any collector.

Thanks for the great replies, advice, and words of encouragement!

BadThad, I've read anywhere from $700 for coins in good condition with no gold coins, to $4200 for coins in very fine to about uncirculated condition with gold using modern proofs. I have seen pictures of US type collections online that must have cost the owner at least $10,000 to complete (some of the coins were at least $1500/ea!).

It all depends on what grade and rarity you choose, and if you want to include gold as well. Personally, I can foresee my 7070 approaching the $4000 mark. My type set will become a family heirloom once completed, so I want it to be impressive for generations after me.

completing a 7070 with AU+ coins is a HUGE accomplishment in my book, I have been working on mine (with this grade) and find some coins are verry hard to locate that you can afford

My goals are VF-EF for the expensive coins and AU-MS for the less expensive ones. Of course the modern coins will be MS to proof since those grades are relatively inexpensive in comparison.

For me this is a realistic goal because, including the gold, I think this standard would put me over the $4000 mark. (Considering most of the gold coins have a $200 entry fee and 1800's silver dollars in VF-EF are $200-$300+.) I haven't actually added up the total cost, mainly because if I did I probably wouldn't even attempt it! Considering the $4000 estimate, it is going to take me at least a year if I allocated all of my play money toward the 7070. The reality is I have other hobbies to spend cash on as well, so I'm guessing this adventure will last me a few years. Once the set is complete, I'll do some upgrades to make this family-heirloom worthy!

But along the way I will keep a running log of date purchased, where it was purchased, how much I paid, interesting facts about obtaining the coin, and any preservation maintenance performed. Does anyone else have any other ideas to make this really special? Aside from adoptions, of course

A 7070 is a wonderful learning tool. If you do your homework on all the different series, you come away with an appreciation for the folks who collect them. Especially the crazy copper people.....

I'm going to visit my coin store tomorrow, and have been thinking about buying the 7070 album. Still not sure. With limited funds, and being 64, I am far from certain I would ever fill it. Of course I could start it, and eventually pass it on to one of the kids.

The 7070 came in last Friday, and my family went to the flea markets on Saturday. There were a total of 5 sellers, 4 at one market and one at another. One of the sellers that I use to by from about 10 years ago was still out there! He told me this makes his 22nd year at the flea market. I bought a silver eagle for Father's Day off of him, and a 2005 uncirculated Buffalo nickel (the new western series type) for $1.

From a different seller, I bought an Ike silver proof for $7 (it has a smudge on it); I consider this one to be an impulse buy and I'm regretting it right now.

Finally I bought a 1943 wartime cent for $1 that has some incredible shine to it. I knew it was a cleaned coin when I purchased it, but for $1 it made a good slider until I make my first round of upgrades. The seller I bought this from had several gold double eagles there for $24/ea. I asked him about them and he said, "The pure gold ones run $3000 in this condition, and since nobody here would have that kind of money I have a copper/gold type. They're still real money just like the real ones are."

Then there was another dealer that had proof sets for every year. I asked I'm if he had the 1976 silver proof set and he said, "they didn't have any silver coins past 1964."

It was interesting to talk to these dealers to get their different insights on their hobby. However the "double eagle" seller, the "proof" seller, and seeing some of the overpriced/trouble coins made me really apprehensive buying anything of real value out there. I understand why slabbed coins are appealing now. The empty hole for the Trade dollar really does scare me after reading about the black market for counterfeits. I'll willingly pay a premium for a slabbed trade type!

Yesterday I finished inserting all of my coins into the album, and that gave me a sense of satisfaction of how far I had already come. Most of them will be upgrades later, but filling about 37 holes from the onset made me happy. In fact, my fireproof safe is almost empty now since 80% of my collection is in the 7070!

Anyway, I am going to work on a spreadsheet which will be kept with my album. I believe I've mentioned this before, but it will have detailed information regarding each coin in the album. After I'm finished with the design I'll make sure to make it available for members for their albums, too.

So far it's been refreshing to dive back into collecting. I even have my father wanting to complete his uncirculated silver eagle collection; I ordered a Dansco 7181 silver eagle album for him today and a 2007-W from the US mint!