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$5,000 7070

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dsfreeworld's Avatar
United States
4337 Posts
 Posted 05/21/2014  7:50 pm Show Profile   Bookmark this topic Add dsfreeworld to your friends list Get a Link to this Message Number of Subscribers
not including gold, what average grade level do you think one could accomplish with $5,000 and trying to fill a Dansco 7070 with a mix of well bought originals and slabbed coin.

All F15 to VF20/25/30?

I'm considering keeping just my real cherry dimes and selling off enough of the others to accomplish a 7070 project. I am not even sure if this is a smart move considering I will want to sell everything beginning in 8 years so do I want to get into a lower grade type coin set?

All opinions are welcome.
Thanks
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TypeCoin971793's Avatar
United States
6370 Posts
 Posted 05/21/2014  9:18 pm  Show Profile   Bookmark this reply Add TypeCoin971793 to your friends list Get a Link to this Reply
Considering your wants, I would recommend that you complete the set with low to mid-grade coins and then upgrade from there. If you get a whole bunch of high-end coins at the beginning, you may find out that you will blow out your budget. Buying everything low-grade first ensures that you have a complete set, and you can always improve it as your budget sees fit. If you are trying to make a set in which all of the coins are about the same grade, I would do some research before I commit to anything. The aforementioned plan also works with this strategy as well.
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zxcccxz's Avatar
Canada
5417 Posts
 Posted 05/21/2014  10:21 pm  Show Profile   Bookmark this reply Add zxcccxz to your friends list Get a Link to this Reply
I would say completely a 7070 not including gold is very doable with $5000. Your grade range is good but you could afford to go up to MS on common coins.

Unfortunately, I know that most people will disagree with selling off your entire collection for a few coins. However, I myself sold off 70% of my collection and with that bought 3 coins. I prefer quality over quantity anyway. I wouldn't sell off all your collection as you will get tired of seeing just a 7070 album after a while. I would say sell off all the coins you have no particular attachment too and then slowly sell others as you need the money or find a nice enough coin to fill a hole. Your main challenge will be the seated and capped bust coinage. Good luck
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macmercury's Avatar
United States
5830 Posts
 Posted 05/22/2014  06:12 am  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
I changed my approach and decided to get the minimum grade I like to add to my 7070, which is Extra Fine - AU grades. I don't know how to do that in some of those early coins, probably I may have to settle for VF or even lesser grade.

The cost of keeping the hobby going is almost like raising funds to send my kids to college again. LOL! But I need my fix just like all other.
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kanga's Avatar
United States
5825 Posts
 Posted 05/22/2014  07:45 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply

Quote:
I changed my approach and decided to get the minimum grade I like to add to my 7070, which is Extra Fine - AU grades. I don't know how to do that in some of those early coins, probably I may have to settle for VF or even lesser grade.


Very similar to my criteria for my type set.

My initial criteria was XF or better, $500 or less.

But it didn't take long to find out $500 wasn't going to work so I upped the number to $1000.

That got me further along but eventually I had to adjust again but this time BOTH criteria have to be relaxed.
Reasonable coins (by my definition) from the very early 1800's and the 1790's just could NOT be gotten in XF or better for anything close to $1000.
So I finally went with the best grade I could get for under $5000.

That DEFINITELY slowed my buying down.
With luck I might be able to get one coin per year.
And my lowest grade is a 1795 Flowing Hair dollar in F-15.
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 05/22/2014  07:45 am  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply
It's a tall task based on looking at earlier dated coins in just F12 or VG10. They are very expensive. I may just stick with dimes.
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oih82w8's Avatar
United States
7840 Posts
 Posted 05/22/2014  07:54 am  Show Profile   Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
Oh boy, don't get me started on how much I funneled into my 7070...without gold. Those varieties are cool to look at, but whew, some of those are out in the exosphere.
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kanga's Avatar
United States
5825 Posts
 Posted 05/22/2014  07:58 am  Show Profile   Bookmark this reply Add kanga to your friends list Get a Link to this Reply
ADDENDUM: My idea all along was to get coins in a sufficiently high enough grade so that if I showed them to a non-collector they could easily see what the Mint's intent was with regard to design.
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 05/22/2014  09:24 am  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply

Quote:
My idea all along was to get coins in a sufficiently high enough grade so that if I showed them to a non-collector they could easily see what the Mint's intent was with regard to design.
- Kanga

This is where I am when it comes to common date Seated dimes and even the handful of Barber dimes I have. And it's why when I investigate early copper and draped bust coinage I will have a hard time pulling the trigger on an F or VF example. They do not show the coin as it was made. M


Quote:
Oh boy, don't get me started on how much I funneled into my 7070
- ohih82w8

I've seen your slabbed 7070 develop for nearly two years now and I know you got like 7 p/t jobs just to afford the premium specimens that you got. But the result of your collection is impressive.
Valued Member
Wiggam007's Avatar
United States
217 Posts
 Posted 05/22/2014  3:29 pm  Show Profile   Bookmark this reply Add Wiggam007 to your friends list Get a Link to this Reply
XF-AU is a great place to shoot for with that kind of budget and is basically what I am working on. There are two major stops to this: Draped Bust large cents and Capped Bust large cents. Both of these in just VF will probably run more than $500 each (glancing at numismedia.) Also the two Seated Liberty dollars would be in the same boat, over $500 each in XF. So you would have to settle for lower grade examples in those slots, but I think the others would be doable in XF-AU on that budget.
Edited by Wiggam007
05/22/2014 3:38 pm
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dsfreeworld's Avatar
United States
4337 Posts
 Posted 05/22/2014  4:28 pm  Show Profile   Bookmark this reply Add dsfreeworld to your friends list Get a Link to this Reply

Quote:
There are two major stops to this: Draped Bust large cents and Capped Bust large cents


Agreed but how about what a higher VF draped bust dime will run me? That's near $5,000 right there!

I could not stand having AU level in the middle and end of the album but G coins in the first pages. This is why if I were to do it, I would hunt down the MOST EYE APPEALING G/VG/F coins I could so its a consistent and attractive-to-the-eye set which gives it resale value.

I would like to think that resale value increases if on the inside back cover are all of the PCGS/NGC labels for each coin.

Agree? Disagree?
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amida17's Avatar
United States
4897 Posts
 Posted 05/22/2014  4:40 pm  Show Profile   Bookmark this reply Add amida17 to your friends list Get a Link to this Reply

Quote:
Agreed but how about what a higher VF draped bust dime will run me?


No Draped Dimes in the 7070. Dimes start with the Capped Bust Type 2.

The Seated dollars would also kill your budget in AU.
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EFLargeCents's Avatar
United States
1304 Posts
 Posted 05/22/2014  4:56 pm  Show Profile   Bookmark this reply Add EFLargeCents to your friends list Get a Link to this Reply
DS, I just posted a photo of my set, it will give you an idea of what you are looking at with that budget if you stick to a budget per coin rather than a specific grade. I found it difficult to stick to a particular grade range as it quickly exceeded my budget per coin.
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Wiggam007's Avatar
United States
217 Posts
 Posted 05/22/2014  5:09 pm  Show Profile   Bookmark this reply Add Wiggam007 to your friends list Get a Link to this Reply
Being curious about this I decided to add up all the prices in XF (only dropping the two large cents discussed to F and the two Seated dollars to VF) based on numismedia's prices. The end total was $6110.11. With a little bit of looking and careful buying I would say you would come in under those prices and get within the area that you are looking for budget wise.

I can see your point about trying to match the grades to all be relatively close. I guess you can say I have come to terms that they will, with my current budget, never be exactly matched, but I also don't see a point in putting in say an XF ASE, Memorial cent, or even Mercury dime when you can get uncirculated for very close to the same price. Just my personal preference though. If you do want everything to be the same I think you would be shooting for VF then to stay in that budget range (as amida mentioned, no draped bust dime in the standard 7070.)

As for the labels, I don't really know if they would add any value. You can't guarantee that the coin would get the same grade or that it hasn't been damaged since you removed it, so I think for most people it wouldn't increase the price paid (the exception potentially being toned coins since it would show that they had market acceptable toning, but again, there is no guarantee that the company won't send it back QC if it gets sent in again so it probably wouldn't increase the price.)
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KenKat's Avatar
United States
4085 Posts
 Posted 05/22/2014  8:53 pm  Show Profile   Bookmark this reply Add KenKat to your friends list Get a Link to this Reply
I spent somewhere around that amount to put together my 7070. I would say my average is mid-VF, with some in XF and later issues in AU and MS.

I had to shoot lower (G/VG) on a few of the early coins and might have a Fine or two in there as well.

As you push up into XF and AU territory, prices climb rapidly.
Edited by KenKat
05/22/2014 8:55 pm
Rest in Peace
johnny54321's Avatar
United States
4849 Posts
 Posted 05/22/2014  10:35 pm  Show Profile   Bookmark this reply Add johnny54321 to your friends list Get a Link to this Reply
First off, I have to say. The 7070 type set was the most enjoyable set BY FAR for me to complete, and still the one that I look at the most in my collection for sheer enjoyment. I have been working on it for many years....and I am sooooo close to having an AU+ 7070 now. My initial goal was VF or better.....I completed that, probably at around 7k or so maybe 4 years ago. The problem here, for me anyways....is that all of the later material can be had cheaply in AU to mint state. So I have all these lustrous fully detailed coins, and others that barely made VF all on the same page....which drove me a little nuts(OCD maybe kickin in). So then it was time to upgrade, and until a year ago I had all XF and better, which made them look more matched detail wise anyways......Over the last year, I have been on a major "cartwheel luster" kick....anyone who has read more than one of my posts can probably feel that vibe. Needless to say, I have been going back and upgrading all of my previous XFs to AUs, with the goal of attractive toning and cartwheel luster, in as much as I can get them with out completely busting the bank. The coins that are behind are my dblc in XF40(which I am trying to upgrade)...my classic head large cent in XF45(no desire to upgrade. even AUs don't have much luster, and even at that point I would be unwilling to crack it out of a slab).

Anyways, understand that if you are OCD like me with all coins matching....you may find yourself spending way more than you ever planned(I don't even know how much I have dumped into this set, nor do I want to...lol). Of course you could always lower the grades of all the later date material to Fine or VF....that would make for an interesting, and somewhat unique well matched 7070!!
Edited by johnny54321
05/22/2014 10:38 pm
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