Would You Rather Have A Few Lower Grade Coins Or One Higher?

If you like slightly worn Peace dollars, then collect them. We have an entire Modern Coin Forum full of people having the time of their lives collecting (for instance) Lincoln Cents from circulation. Just be comfortable with the fact that your collecting won't make you rich.

The people who collect those expensive coins will learn the same thing, and it'll cost you less.

Yes Arael. That is good to hear. No coin is "better" or "worse" than any other coin.

I've always had a thing for coins anyway. Long before I got interested in this sort of organized collecting, I enjoyed saving up large quatities of pocket change, and then turning it all in to my bank, or running it to a Coinstar machine. I actually sat on the floor once and counted $365 worth of pocket change, separating it into quarters, dimes, etc...

The numismatic force dwells within me, but I must hone it and sharpen it from within to a fine edge. (That's pretty intense huh?)

There is no right or wrong. I have completed many sets including a 7070 set, a Barber half set, and a Walking half set, then I upgrade them as opportunity permits. It's all what makes you comfortable.

I look at it this way, how often will you see those lower grade coins and be able to buy some, and will ou ever find that quality coin again? I say get the quality coin while it is available, and you can always find lower grade coins.

Do both. I have a study/reference collection that cost more than my pickup. An several sets that I have taken out of circulation. I really enjoy foreign coins that I purchase for less than a quarter apiece. Last time I needed my coin fix, and was low on cash, I found a beautiful British Half Penny for fifteen cents.

^ what he said ^

when I first started out it was all about volume. once I had hoarded 3000+ different world coins I narrowed my field of interest to one from each country (instead of one of each type) and canadian colonial tokens.
I think one must go through the "bulk" phase and learn for themselves what they like and what's important. it's not something that someone could have taught me, mistakes will make you smarter and a better collector.
of course if hoarding makes you happy - go for it

I agree with Denco7. You should choose a grade and try and stick with it, if you are attempting to assemble a set. As to what grade, it depends what you like and can afford (or wish to spend) in order to complete the set.
I recently bought a 1921 Peace dollar raw because I really liked the toning on the coin. I submitted it to PCGS and it came back with a VF25 on it, which surprised me. I was disappointed that it did not grade higher, but it did not cause me to regret buying it.
Personally, I try to stick with XF40-45. That's what I like. Aside from price, I find it more challenging to find a nicely circulated problem-free coin than a BU example (in most cases). As I said though, that is my taste.

Over the last year I have definitely graduated to the condition over quantity team. Building uncirculated modern sets by breaking up mint sets probably started me down that path. I am now working on an uncirculated set of silver Washington quarters. I've got all from 1950 - 1964, plus a 1941 and 1942. I also started upgrading my silver Roosies (Mom bought me a circulated set way back in 1974 for $11!) as a picked up a set of 1946 PDS at the last Baltimore Whitman Expo.