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 Replies: 25 / Views: 3,170 |
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Moderator
 United States
189969 Posts |
Collecting the keys first seems anti-climactic to me.  I collect them last, it is like a victory lap. As their prices rise, so does my disposable income (hopefully) and budgeted savings for them (more likely). Yes, I would love to pay the prices from twenty or thirty years ago, but back then I did not have the money I have now. Regardless, no right or wrong way here. Do whatever gives you the most joy. |
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Pillar of the Community
United States
1346 Posts |
Regardless of one's choice, "Look before you leap."
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Pillar of the Community
United States
2023 Posts |
If I'm just starting a series, I'll start with quality pieces for reasonable prices, just to make sure I like them enough to keep going. Better that than overpaying and storing something I don't really want in the first place.
After that, I just go by price and availability. I know where the holes are in my set, so if I see a key date for a good price, I'll grab it. I'll look more actively for the key dates, but if I still feel the itch without finding one, I'll scan for commons.
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Valued Member
United States
71 Posts |
Yes, the general advice is to buy the key dates first, and I think that advice is accurate for experienced numismatists who understand grading, coin markets, etc... However, I'm a fairly new coin collector and I immediately dismissed that advice because of my naivete in all matters related to coins. No way was I willing to shell out hundreds of dollars for a 16D Mercury before I really understood grading and the market. Making a newbie mistake on a $5 coin is called learning, making a newbie mistake on a $800 coin is called foolish.
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Valued Member
United States
467 Posts |
I don't go for either of them first.
I go for all of them at the same time.
Every time I start a new series I make an excel spreadsheet of every date, mintmark, variation, etc. in a list.
Then I look for every one of them at the same time and if I see a price better than what I expect to have to pay, I buy it, regardless of whether common or key.
Often, the common fill up first. But that is a factor of the quantity available. If 50 people put a coin up for sale, at least one might be bargain. With common coins, you hit that statistical threshold more quickly than with key dates.
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Moderator
United States
189969 Posts |
Quote:
No way was I willing to shell out hundreds of dollars for a 16D Mercury before I really understood grading and the market. Making a newbie mistake on a $5 coin is called learning, making a newbie mistake on a $800 coin is called foolish. Good point.  |
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Bedrock of the Community
United States
94367 Posts |
When you've been around the block a few times, I think you tend toward starting with the keys and semi-keys. If you're not all that experienced, then starting off with less-expensive dates will help hone your grading skills and develop a better idea of pricing in that new series. Plus, if you decide you're really not all that interested after a time, you don't have that much money invested.
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Pillar of the Community
United States
4085 Posts |
I have always bought the commons first, then semi-keys and keys. Not sure why exactly except I think making progress early in the set "hooks" me and I am finally willing to then shell out the money to complete the set.
Edited by KenKat
10/20/2016 8:50 pm
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Pillar of the Community
United States
8137 Posts |
My philosophy... Buy the commons first and learn the series. When you are ready, you should buy the keys or the semi keys. I kind of did this with my Washington quarter set. Ive been working on it for 3 years now and I still have about 20 coins left. But, about 6 months ago I decided to pull the trigger on the 32-D and the 32-S at the same time. I did this because I felt I knew the series well enough to make a good decision. |
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Pillar of the Community
United States
1590 Posts |
The advantage to buying the keys first is, believe it or not, sticker shock.
If you, for instance, start with Mercury's. Then when you buy that slabbed 16D you will find it easier to buy a higher quality common. What I mean is that given the choice between two coins of similar grade, you will find it easier to buy Merc with a fuller strike/better bands and earlier die state.
People who don't do expericance sticker shock will usually opt for the cheaper coin. Not understanding that a better struck coin from an early die state will always bring better money, for the same grade....as long as you are willing to be patient.
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Pillar of the Community
United States
790 Posts |
I'm a newb, and I lean towards the gain experience with less expensive coins POV. That way, by the time you are qualified to know if it's smart to drop $1k or more on a coin, you will also have accumulated some coins that you'll be ready to part with, and you can use those earlier, learning investments to help pay for the better coin.
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Valued Member
United States
408 Posts |
First master the cheap stuff. Then, as you grow more experienced in understanding grading, go for the more expensive stuff.
My thing is that you also have to know about the fakes coming out of China. Beware that great deal you shell out hundreds of dollars for.
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Pillar of the Community
 United States
3540 Posts |
Thank you for ALL of the excellent points.
One item that I did not state, specifically, is.....ALL collectors/dealers/flippers/etc, KNOW key and semi key dates/mm. These dates/mm will always be available in a high percentage of the various series that all of us collect.
I suspect, quality common dates coins make actually be the sleepers in many series.
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Moderator
United States
189969 Posts |
Quote:
I have always bought the commons first, then semi-keys and keys. Not sure why exactly except I think making progress early in the set "hooks" me and I am finally willing to then shell out the money to complete the set. Sounds about right to me. |
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Pillar of the Community
Norway
1358 Posts |
I actually won't start or end with key dates. I would patiently build a collection and keep my eyes open all the time for a good deal on a key date, hold some money on the side for when it happens and strike as soon as it's available. There are also a lot of people out there who sell coins without being dealers, collectors or flippers, who might not know or not care about such things as key dates. So it may take a bit of time, but I learned that patience is one of the best qualities a coin collector can have.
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Replies: 25 / Views: 3,170 |
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Posted 10/20/2016 11:44 am
