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MS Grade Modern Circulation Sets

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GoldenChest's Avatar
United States
814 Posts
 Posted 04/23/2013  02:36 am Show Profile   Bookmark this topic Add GoldenChest to your friends list Get a Link to this Message Number of Subscribers
Would it be unreasonable to find a complete set of modern coins in MS grades for $400. Not necessarily slabbed but properly graded. Cents, nickels, dimes, quarters and halves. 1965 to present, date and mint mark, business strikes. Is this an easy goal? Hard, moderate? Id like to include proof and mint sets, but I'm sure that will break my budget and worthy of its on thread. Nonetheless, opinions on that are welcome as well.
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Mystic2's Avatar
United States
147 Posts
 Posted 04/23/2013  02:54 am  Show Profile   Bookmark this reply Add Mystic2 to your friends list Get a Link to this Reply
Shouldnt be too hard you could cut costs by roll searching or hook up with those of us that do it and put a list of what you need up I've thrown tons of 65+ ms pennies back to the bank in rolls
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basebal21's Avatar
13014 Posts
 Posted 04/23/2013  03:05 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
You wont be able to do it with proof and mint sets included, you may actually not be able to do it with just one of the two either.
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BamaBlue's Avatar
United States
624 Posts
 Posted 04/23/2013  08:09 am  Show Profile   Bookmark this reply Add BamaBlue to your friends list Get a Link to this Reply
To get ALL coins from 1965 would be doable for $400, but I think you'd have mostly circulated/business strikes. The question I have is 'what does properly graded mean?' Grading is very subjective and even slabbed coins have differences of opinion. I think a collection of coins from various graders will have significant variation and would negate your desire to have them all 'properly' graded. Just my two-cents... Good luck!
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GoldenChest's Avatar
United States
814 Posts
 Posted 04/23/2013  08:48 am  Show Profile   Bookmark this reply Add GoldenChest to your friends list Get a Link to this Reply
Well by properly graded, I just meant that whoever graded them had some idea of grading. I wouldnt want a XF coin being called MS. I've started roll searching for them. The 90's to date are pretty easy to find. However, I have better luck finding silver, than a MS dime nickel or quarter from the 60's through to the 90's
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GR58's Avatar
United States
11951 Posts
 Posted 04/23/2013  10:57 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
IMO coin collecting is all about patients and commitment.

Having the patients to wait for the right coin(s) to come along at the right price, nd buying when you know the deal is good.

And making the commitment to fund the coins you want to collect.

I do think the best way to collect all the modern P and D coins from 1965 to date is through buying the mint sets. And it might be possible to get them in the $400 range.

For me the best way to get mint and proof sets is to get in good with a local dealer. You might catch him when he wants to dump a bunch of sets and get them cheap.

I did do a quick online search (1965 to 1998 U.S. mint sets) one hit has this group of sets at Amazon for $239. The sets starting in 1999 will increase in price because of having 10 quarters instead of 2, and starting in 2007 there will 10 dollar coins per set.

FYI There are no sets for 1982 and 1983. Also watch the 1996 set to make sure you get the extra 1996 W dime. 2005 through 2010 will have satin finish coins. As for 2009 I like the mint set because the Lincoln Cent are not zinc coins but made from the copper planchette.
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GoldenChest's Avatar
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814 Posts
 Posted 04/23/2013  1:00 pm  Show Profile   Bookmark this reply Add GoldenChest to your friends list Get a Link to this Reply
Thanks for sharing GR58 and everyone. I already have the 96 set with the W dime and a complete set of satin finsh pennies, I agree they are awesome and neccasary coins.
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larsdog's Avatar
United States
593 Posts
 Posted 04/23/2013  3:20 pm  Show Profile   Bookmark this reply Add larsdog to your friends list Get a Link to this Reply
I collected the Mint Sets and then added the missing coins (like the different Types of Ikes, large date/small date pennies, etc.). I don't know what the grade is, but they are, by definition, MS coins. Eagle makes some great albums for mint sets. Same goes for proofs. You can get the Souvenir Sets from Denver and Philly for '82 and '83, but those will cost about $200 just for those two years.

The satin finish is on everything (not just pennies) from '05 to '10, so if you want circulation variety you don't want to use the Mint Sets.
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basebal21's Avatar
13014 Posts
 Posted 04/23/2013  3:39 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
To expand a little bit on what I said earlier, while you wont be able to get them all the mint sets for 400 you can get a lot of them. The last 8 years I think are pretty expensive mint sets and will cost you a few hundred on their own. However you could get most of the others if not all for the 400 and just kind of go from there adding a new mint set when you can. Those other years should keep you busy enough to give you enough time to save a little hear or there till you can add one of the more expensive sets later. Thats how I would do it anyway.

The other heads up most of the IKE mint sets are really ugly that you get from online places. Those I would definitely buy in person or on ebay where the picture is of the actual set. Dont buy those sets that have stock photos
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larsdog's Avatar
United States
593 Posts
 Posted 04/23/2013  10:36 pm  Show Profile   Bookmark this reply Add larsdog to your friends list Get a Link to this Reply
I had Mint and Proof sets from 1999 to present already when I started this adventure. Here is what it cost me to do what it sounds like you have planned:

1965-1967 Special Mint Sets $30
1968-1998 Mint Sets (ex. '82-'83) $200
1982-1983 Souvenir Sets $200
Slabbed coins to fill in holes $250 (mostly because of '71P Ike Type II)
1999-present mint and proof sets (unknown - I bought those each year, but I would expect $25+ per year)

Proof Sets '68 to '98 were about $200. I think the Brown Ikes were $10 each. I added a '70 Proof Set with a small date penny for $70 because the slabbed proof penny in PF state was about that much anyway.

I think I finally shelled out somewhere around $500 for the albums to hold the mint sets, proof sets and slabs, but that also included all of the sets I already had from 1999 to present, and I collected Mint Sets back to 1959.

When I decided to add non-satin '05 to '10 coins, that added about $200 to the total for coins and albums.

Feel free to view how I put such a collection together via the link below. Comments are welcome!
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rking007's Avatar
United States
784 Posts
 Posted 04/25/2013  12:40 am  Show Profile   Bookmark this reply Add rking007 to your friends list Get a Link to this Reply
Lars, love your collection! Nice little website too! Looks like your stamps totally outweighs the coin collection. I may have to ask about some stamps my wife and I inherited a while back. Mind if I pm you?
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larsdog's Avatar
United States
593 Posts
 Posted 04/27/2013  4:01 pm  Show Profile   Bookmark this reply Add larsdog to your friends list Get a Link to this Reply
No problem rking007. I've been actively collecting U.S. stamps for many years. I started collecting stamps and wheat pennies when I was about 6. I gave up on coins when I was 8 or 9 and focused on stamps until high school. After high school and college I got back into stamps and filled in the gap. I had been buying the Mint Sets and Proof sets since 1999 when the State Quarter program started and decided to do something more formal than what I had. I found this web site and learned so much I was able to develop a personal collecting philosophy (that is still in a bit of flux, but much more focused than before). I really love the 7070 Type Set album! That is a lot of fun to work on.
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cladking's Avatar
United States
2270 Posts
 Posted 04/27/2013  7:53 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
I think $400 is very optimistic to complete all the modern sets. You can probably do it but a lot of mint set coins are just junk and roll coins are even worse. Many of the coins in your sets will be very unsightly. I think you'd be happier and have a lot nicer collection that requires effort and of which you can be proud if you just stuck with one (or two) denominations. Dimes would be least expensive to complete in nice attractive BU and gemmy condition. They could be done for only a couple hundred. My favorite are quarters and they'd run around $300 and cents around $350. Halfs would be around $400 and Ikes depend on your requirements. Nickels with sharp strikes would be extemely challenging and could get expensive.

I'm not saying you shouldn't do it for $400 but you'll have only a few really nice coins and some real dogs. Coins like a 1968 cent can be very tough to find without spots. Hand selection of mint sets can yield some spectacular coins and make the collection more challenging and rewarding.
Time don't fly, it bounds and leaps.
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larsdog's Avatar
United States
593 Posts
 Posted 04/28/2013  6:39 pm  Show Profile   Bookmark this reply Add larsdog to your friends list Get a Link to this Reply
cladking, you are correct that you have to be careful with the mint sets. I found two sets with coins damaged by the heat sealer and one came directly from the mint, so it's not that uncommon. However, when collecting on a budget, the mint sets from 1968-1981 and 1984-1998 are really quite reasonable and you know you are getting uncirculated coins. The proof sets from 1968-1998 are also very reasonably priced if you want PF without a particular grade. I know it's not what most collectors prefer, but it has worked rather well for me.

Cheers!
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cladking's Avatar
United States
2270 Posts
 Posted 04/29/2013  4:01 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply

Quote:
However, when collecting on a budget, the mint sets from 1968-1981 and 1984-1998 are really quite reasonable and you know you are getting uncirculated coins. The proof sets from 1968-1998 are also very reasonably priced if you want PF without a particular grade. I know it's not what most collectors prefer, but it has worked rather well for me.


Mint sets are a very very convient and very high quality source for most all moderns. If you find the typical quality acceptable then there's no reason to seek higher grades. Many people though may not realize how poor "typical quality" is for something like a '69 quarter or '76 type I dollar. Almost all the coins in mint sets are well struck but they can have numerous other problems like the horrendous (uneven) surfaces on '81 quarters or carbon spotting on '68 cents.

I simply believe most collectors will find "typical" sets of most moderns pretty easy to put together and the typical quality to be substandard on some coins in each set. Even coins like '72-D quarters that are extremely easy to find in Gem will sometimes be very unattractive in a specific set. ChBU sets cost very little extra and with diligence and patience Gem sets can be assembled for little extra. This situation (cheap Gems) won't last forever though and one of these days you'll have to pay extra even for chBU.

To each his own. Even a typical set is great to have for a reference collection and can be fun. One of my most enjoyable clad sets is quarters I've found in circulation and most of them are XF to AU.
Time don't fly, it bounds and leaps.
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larsdog's Avatar
United States
593 Posts
 Posted 05/01/2013  12:36 am  Show Profile   Bookmark this reply Add larsdog to your friends list Get a Link to this Reply
cladking, those are good points, and there is also the problem (as I mentioned) that some coins are damaged by the sealers (pre-2007). However, for novice collectors, like me, that can't really differentiate AU from BU and don't want to pay for certs and slabs for too many coins, Mint Sets are a reasonable compromise. They are self validating and easily resold. I like those qualities, but I'm not a serious collector. Stamp collecting is my primary hobby and coins are a side-hobby for me so I'm looking for the easy way out. I started out collecting AU in 2x2s for everything not in the Mint Sets and shifted to slabbed MS as I got my feet wetter. I agree that collecting primarily Mint Sets and Proof Sets isn't "serious" coin collecting any more than collecting the annual yearbook from USPS for stamps is "serious" stamp collecting - even if you supplement them with other items. But it is a great way to get started on a comprehensive collection without breaking the bank!
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