Set Building: Grab What's Available Or Hold Out For Quality?

Thanks everyone, it's really interesting to hear the different opinions.

I deliberately left the question a bit vague because the topic is a general one and the question applies to every type of set one would build. But obviously the answers to the question are not so generic, and depend very much on the specific collection and the specific collector building it. Ah, and to those who mentioned old age as a decision factor, I myself am 40 years old, so hopefully I can expect quite a few collecting years yet to come.

Upgrade game? What upgrade game?

My way of thinking is basically option 1, minus the upgrade game; I might consider upgrading if I get a decent example for cheap and my previous one was ugly (yes, this really happened to me a few times, most recently less than two weeks ago), but that's about it to be honest.

It helps that I'm more of a type collector (and that my definition of "affordable" is rather on the low end), which means there isn't particularly much stuff I collect that's technically within my budget but doesn't come up commonly.

This is a great philosophical question which I love as it has no right answer and chances for many opinions. I collected one cent and five cent Canadian coins as a kid and not until age 60 (last year) did I fill in the 1926 far nickel for two reasons. One was that I lost interest for some time but did not sell my collections. Second was the money priorities and had other needs to spend money on. I did not mind the few gaping holes.

As far as buying now or holding out, I think time might be a factor. If you feel you may never be able to afford higher grades maybe buy now and be content with what you get and enjoy - and if a cash windfall comes your way you could upgrade in 20 years. On the other hand, if you feel you can afford a grade or two higher in a couple of years I would wait and buy high quality slowly. To me it would seem dumb to buy a set of coins over a year period for say, $500 and then in two years sell them for $300 as you buy all coins a couple of grades higher.

I hear often the phrase "buy the best you can afford". I think for me I go with "buy the best for which you are willing to pay." There might be a coin that sells for $4000 in MS65 but if most of my collection is in MS60 I might be content to buy it in MS60 for $1600 even if I have the $4000 and the cost would not impact my other expenditures. Maybe I'd rather the MS60 and use the other $2400 for other coins, hobbies, or a trip. That would be the "best for which I was willing to pay".

My answer would be to... CRH. That is how I get all my coins.

For me, it's quality over compromise, any day. If you settle for an inferior example, you'll never hold the coin in the same regard as the rest of the set.

ET

Interesting topic. I, too, find holes distract from the enjoyment I get from viewing my albums. I removed those pages and keep them in the slip case on my desk. There is a real sense of satisfaction and accomplishment when a completed page goes into its album. My collecting efforts are better focused and goal-oriented now, too.

You have raised a great question, something I grapple with all the time. I would prefer to go with option #2, but then a coin will come up for sale that I need for my set that rarely is available. If I like the coin, there is no issue, I just buy it. If I am lukewarm on the coin, should I still buy it because the population is under 200 coins? How about under 50 coins? I am constantly asking myself whether I lack patience, or am I acting prudently by purchasing the coin as I don't know when or if I will be offered a better opportunity. Great topic, hard to answer, as we don't know the future.

"It's tough to make predictions, especially about the future"...........Yogi Berra

If memory serves me correctly, quality, as defined in Robert M. Pirsig in his literary document of the pursuit of knowledge, Zen and the Art of Motorcycle Maintenance, is what you want.
Quality is what you want.
I want both. So after a period of strict adherence to calculated collecting for reference and research â€" both time consuming and expensive, I caved in to pure emotion and now enjoy world coins.
While saving for the next Holy (holey) Grail in one collection, I can remain very busy and satisfied enjoying common world coins for about a dollar a week. I'm even considering a subset of world coins featuring boats and ships.