What Wheats Would You Buy First?

I think you should learn the series and make mistakes on lower priced coins.
If you know what your looking at in terms of cleaned, altered, fake, etc. coins and have a good feel for
grading and what things cost go ahead and go after semi or key coins.

The key dates alway appreciate in value faster than the non key dates.

However I personally would (and do in my own collection) try to fill as many holes in my album first as that gives me more satisfaction than an empty album with 4 key date coins and a lot of empty holes.

I'm in the same situation, so I'll tell you what I did. Initially, I was buying wheats, fairly common years. I did learn a bit doing this, but eventually, I did what you did, and split the series. I then in bits and pieces assembled a 1959 to 2012 Uncirculated Set. Made a few mistakes, but overall, did pretty ok. However, it did teach me what to look for, in addition to frequenting this board. I don't post much, because unless I have something of real value to say, I would rather learn from others.

Once I completed my 59-2012 set, I then decided to start 2 'new' sets: 1909-1958 Lincolns and 1938-2012 Jefferson nickels. Why did I do this? Because the Jefferson key dates are relatively inexpensive (not including error coins). For instance, your key dates in the Jefferson series (depending on condition) are the ' War Nickels' (not particularly rare, but you pay a bit more for them due to silver content) and the 1950D, which I picked up in uncirculated condition for $10.

In the meantime, I am assembling the 'key dates' in the Lincoln series. I picked up a 1931 S in AU/MS, and a 1926 S in XF (slabbed). I'm currently saving for a 1914D and 1909 S. This is not to say if I don't come across a great wheat coin at a great price I won't buy it, I do. But by doing two sets at once, it satisfies my 'coin collecting jones' - by collecting relatively inexpensive nickels, while saving towards the key dates in the Lincoln series. There is no way I'll have the key Lincoln dates before I finish the Nickel set, so my next 'coin collecting jones' set will be the Roosevelt dime series - which is also relatively inexpensive to assemble.

In short, I'm getting Lincoln key dates first in that series while collecting far less expensive sets (nickels/dimes). I happen to like nickels and dimes, so it's just as much fun for me.

The other thing to keep in mind is key dates go up far quicker than the rest of the series - the 2013 Blue Book value for a 31 S in G is $50 while the 2001 Blue Book value for the 31 S is $18. So the Blue Book value has almost tripled. I don't know what happened to my 2001 Red Book, but I'd be interested in that comparison as well. The 2013 Red Book value for a 31S is $110 in Good condition. I'd love to see what the 2001 Red Book value is for that coin. If anyone has it, I hope they post it.

So in sum, my advice is pick up key dates while assembling other less expensive sets. Many people (myself very much included) start with Lincolns because we think it will be the easiest set - in my case because it was the smallest denomination. I was wrong. But you live and learn.

Anyway, that's how I'm approaching it - oh, and I only buy key dates for Lincolns from coin shows or coin dealers - there are a lot of counterfeits out there. So read on here, and anywhere else you can, about the markers that separate the wheat from the counterfeit.

Ultimately, do what makes you happy. Collecting shouldn't be a job, so if it isn't fun, then why bother? Others will have a different take on the approach, and that's what's great about this place - you get the thought processes of many very good, knowledgeable collectors (and by no means would I consider myself knowledgeable in that vein).

Good luck! Have fun!

Man, I think you all hit all the thoughts tumbling through my head on the subject right on the head in some way or another! I'm doing pennies because that's what my grandpa taught me and I want to honor him by finishing what he started. When he died ten years ago, I dug out my 1970's Whitman book that had been literally duct taped together along the spines and had some nostalgic memories. I decided that I would finish it so I went to a little coin shop on Broadway in Denver that was run by this awesome little old lady. I picked up new Littleton green folders, a 1912s - F, 1912d - F, and a 1931s - AU. My goal being, fill the toughies first and then work on the easies later. ten years ago I paid $45 the AU 31s so I feel great about that one!

Like Telestrat, I also thought I'd do Jeffersons and Roosevelts since I could get harder dates relatively cheap compared to Wheat keys. Well, I also got into vintage film poster collecting and that smothered my coin thirst for ten years (quite proud of my posters though) until two months ago when my 8 year old found the penny book and thought it was the coolest thing ever. So as he got into it, my flame was rekindled. So now, he's way into State Quarters and gold dollars so we are working on those since they are easy while I form strategy for the Wheats. Keeps the thirst alive!

I've written down a list of five or six keys and semi keys and I cruise ebay for those dates in XF or above and I simply watch them from start to finish and I study what they are going for. The two coin shops here in Parker are staffed by wonderful people but when I ask about Wheats, they just don't have that many. One dealer has a small box of BU wheats in flips (40's and 50's) for like .50 to $3.00 a piece so I'm thinking I'll hang out there for a bit and search through the box, pick up a few and study them. I'm also hoping he has some cleaned examples so I can look at them as well. So as I study and learn I will hopefully be ready for a coin show coming through Denver in May. I'll take my son, we'll write down a bunch of dates that we want and just go have fun!

I just know there is no way I'm going to realize the three monsters (09svb, 14-d, and 22 plain) for years in reality. My budget right now is about $50 to $75 a month and I just can't wait an entire year to save for one penny you know? :) Keep the advice coming though! Loving it and thanks!