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 Replies: 17 / Views: 2,959 |
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Valued Member
United States
107 Posts |
... an empty one of course!  This hobby of mine has been off and on over the years. I started when I was very young, 7-10yrs old, and collected off and on until I was in my early 20's. I picked it back up couple years later but dropped it again to pursue home theater systems, cars, etc. On my 29th birthday weekend I visited my sister at a festival, and it so happened that someone had a booth with a few coins! I saw a large cent (last year type) in the case, and told my sister I didn't have one so she bought it for me. Well, a chain reaction occurred and lead me to visiting my collection again then realizing one of my goals of owning a really nice example of my affordable favorite coins; a flying eagle (it is around MS60). Now I'm pursuing one of my other goals. During my late teens I began to assemble a US type set and did a respectable job considering my funds. Now that I have more "play money", I can finally continue assembling the set! I found some posts about the Dansco 7070 book, and purchased one early this week and hopefully it will be here by friday. I also purchased the modern coin insert and the gold insert. I finally have enough money to collect some gold, too! (My ultimate goal is to own a Gobrecht dollar and an 1856 flying eagle before I die, but I can't see that happening for a long time... I'm healthy so hopefully I still have a few decades left!) My father and I are going to our old "spot" to find coins this weekend for the first time in about a decade, the local flea-market, to see if I can find anything interesting there. I made a quick list, and although not 100% accurate I believe I can fill over 35 holes from what I already have. Probably 3/4 of those are 20th century, but I was surprised at the number of 19th century coins I own. I can't buy a big coin this weekend since I just bought an expensive DVD player (home theater is one of my other passions), but I might be able to pick up a 20th century UNC coin for the 7070. I'm going to take a different approach to filling the 7070 and I'm going to buy the expensive coins first. Partially because I will already have 35+ holes filled with my existing collection, but also because now I can finally buy the coins that I couldn't afford before. It's part of my personality to waver to a different hobby of mine then back again, so I might as well capitalize on my renewed interest and then come back to the less expensive type coins when my attention is on something else. I'm really happy that I've added coin collecting into the mix! Anyway, I figured I'd share my enthusiasm! This forum is great and filled with VERY knowledgeable and nice people. I've made a couple of posts already with questions and everyone has been very patient and helpful. Thanks so far, maybe I can fill a few empty holes in my 7070 in the coming months! I have a question, though. Is completing a 7070 considered to carry weight among fellow collectors, ie. respect, or is it commonplace? I'm not looking for an ego boost since I keep my collecting hobby very private, but I am curious to know the answer. From the outside looking in, it appears to be a daunting challenge and I have a lot of respect for those who have accomplished this. Sorry for the long post, but thanks for reading if you made it this far  Edited by FroDaddy
06/12/2007 10:02 pm
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Moderator
 United States
6563 Posts |
Good luck in your task! I want to start one myself when I have the funds to work with. I'd say that completing a Dansco is more of a personal goal and sense of accomplishment. It's the love of the coins and the history that is cherished. A millionaire with cash to burn can get every coin for a 7070 on ebay in one day and I really wouldn't' respect him any more or less. It's the patience, study, and dedication that someone puts into this type of...type collection that I truly respect. Good Luck! |
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Pillar of the Community
United States
3234 Posts |
Congratulations! You have quite a task in front of you. I completed mine awhile back but I've been upgrading it ever since.
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Pillar of the Community
United States
1327 Posts |
welcome back to collecting. I think the type set would be a great accomplishment and yes alot of people like them. but I think atleast on this forum that any set someone complete is considered great and get alot of praise. I myself felt it a very big acomplishment when I got my Mercury dime set almost complete except the 1916-D and I think even when I get my type set done I might still me more proud of that set then any other since it was my first set. I guess that really didn't answer your question but I don't knwo if the type set hold any greater level then a Lincoln Cent set does. I think it is just a mater of taste. But with that said I think it is a goal of most not all more serius collector like most of use here. I say serius since most of use spend alot of time learning and sharing and looking at coins on this board. I think it is all f our goal to one day finish a type set. Just my opion. |
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Pillar of the Community
United States
1541 Posts |
Good luck, its a great set to work on. You'll always be looking for something.
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Moderator
 United States
23522 Posts |
quote:
Is completing a 7070 considered to carry weight among fellow collectors, ie. respect, or is it commonplace?
Both. It's as close to a "universal" goal as you'll find in our hobby, and many collectors accomplish a complete 7070 during their career. However, as has been mentioned, such an accomplishment shows dedication and motivation. Very few of us are of the "Dansco in one day" demographic, so we understand what it takes for an average Joe to get it done. It's a mark of respect for any collector. |
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Bedrock of the Community
United States
19935 Posts |
Assuming average coin conditions, how much would it cost to fill such an album?
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Valued Member
 United States
107 Posts |
Thanks for the great replies, advice, and words of encouragement!
BadThad, I've read anywhere from $700 for coins in good condition with no gold coins, to $4200 for coins in very fine to about uncirculated condition with gold using modern proofs. I have seen pictures of US type collections online that must have cost the owner at least $10,000 to complete (some of the coins were at least $1500/ea!).
It all depends on what grade and rarity you choose, and if you want to include gold as well. Personally, I can foresee my 7070 approaching the $4000 mark. My type set will become a family heirloom once completed, so I want it to be impressive for generations after me.
Edited by FroDaddy
06/13/2007 10:28 am
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Moderator
United States
6563 Posts |
Did I mention that I am up for adoption?  |
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Bedrock of the Community
United States
14454 Posts |
completing a 7070 with AU+ coins is a HUGE accomplishment in my book, I have been working on mine (with this grade) and find some coins are verry hard to locate that you can afford
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Valued Member
United States
70 Posts |
I originally wanted to do mine all AU to MS, but have since downgraded my expectations to EF. I've found a nice EF coin with good eye appeal suits me fine in most cases. I'm using the 7070 list as a guide for my set, I'm not using the album though.
Edited by AnemicOak
06/13/2007 12:58 pm
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Valued Member
United States
107 Posts |
My goals are VF-EF for the expensive coins and AU-MS for the less expensive ones. Of course the modern coins will be MS to proof since those grades are relatively inexpensive in comparison. For me this is a realistic goal because, including the gold, I think this standard would put me over the $4000 mark. (Considering most of the gold coins have a $200 entry fee and 1800's silver dollars in VF-EF are $200-$300+.) I haven't actually added up the total cost, mainly because if I did I probably wouldn't even attempt it! Considering the $4000 estimate, it is going to take me at least a year if I allocated all of my play money toward the 7070. The reality is I have other hobbies to spend cash on as well, so I'm guessing this adventure will last me a few years. Once the set is complete, I'll do some upgrades to make this family-heirloom worthy! But along the way I will keep a running log of date purchased, where it was purchased, how much I paid, interesting facts about obtaining the coin, and any preservation maintenance performed. Does anyone else have any other ideas to make this really special? Aside from adoptions, of course  Edited by FroDaddy
06/13/2007 1:41 pm
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Valued Member
United States
470 Posts |
Best of luck with your 7070. I started mine a little over 2 years ago. Starting with the most expensive coins first makes sense and it's the way most people that I've talked to start them today. With so many people getting into the hobby because of the State Quarter program most older coins are on the rise. I started with the gold page first in AU condition it cost me about $3,100.00. The 7070 itself will end up costing $4,500. So yeah, you better believe it will be a family heirloom piece when it's finished. |
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Pillar of the Community
United States
954 Posts |
A 7070 is a wonderful learning tool. If you do your homework on all the different series, you come away with an appreciation for the folks who collect them. Especially the crazy copper people.....  |
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Pillar of the Community
United States
3234 Posts |
My coins in my 7070 are mainly XF-Proof with a couple of F/VF stragglers (early copper!).
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Rest in Peace
United States
3730 Posts |
I'm going to visit my coin store tomorrow, and have been thinking about buying the 7070 album. Still not sure. With limited funds, and being 64, I am far from certain I would ever fill it. Of course I could start it, and eventually pass it on to one of the kids.
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Replies: 17 / Views: 2,959 |
Posted 06/12/2007 10:21 pm
