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Coin Collecting Strategies - How Consistent Does Your Set Need To Be?

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Pillar of the Community
Chute72's Avatar
United States
1314 Posts
 Posted 03/09/2015  11:42 am  Show Profile   Bookmark this reply Add Chute72 to your friends list Get a Link to this Reply
For one of my collections, my goal is to fill all 62 slots with MS63 or better. So far, I have 58 slots filled. And when I complete the set, I will work on upgrading to MS64. My other collections can include anything from holed coins to road kill finds.
Some are so worn as to be unidentifiable, and even have a 1782 Mexican 1/2 reale that has been "domed" either for a spoon or jewelry. I guess I'm a bi-polar collector.
Bedrock of the Community
GR58's Avatar
United States
11951 Posts
 Posted 03/09/2015  10:57 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
As has been stated, the consistency of putting a set
together has a lot to do with income level or maybe
comfort level of being able to purchase high cost coins.

Many of the classic sets will have at least a few high cost
coins. So low and middle income collectors (includes me)
may have to make a choice to either have a empty hole, or a
lower grade coin.

For example
Coin-Collecting-Strategies-–-How-Consistent-Does-Your-Set-Need-To-Be?

This is a page from my dollar date set. This page has the
most costly Morgan's (by year). If I tried to upgrade the
91 through 95 coins, to at least AU50, it would cost me
thousands. My problem is that I have several sets going at
the same time, and many of those have empty high cost holes.

Another problem is, it is easier to get a better deal on
common better grade coins, just because there are more of
them and dealers need to move them. But on the keys and
semi keys they are easier to sell with out having to make a deal.

I think this is why I like modern sets so much. It is much easier
to search out high grade coins for modern sets, and
complete them with all high grade coins. And not spend a lot of your coin budget.

But for the classic sets, I wait for the right deal to come
along. In most cases it will be a lower grade, hopefully
problem free coin. But when it does, it will fill that hole.
And I will be happy.

Edit: If I hit one of the multi-millions lotteries. Everything would change ...
Can you imagine doing the page above with the top coins
for each of those years. 1989CC, 1893S, 1894P, 1895P
and 1899P .... ouch .. but fun to think about.
Edited by GR58
03/09/2015 11:17 pm
Bedrock of the Community
sel_69l's Avatar
Australia
21788 Posts
 Posted 03/09/2015  11:10 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I am building a 'set' that has no boundaries or even much definition, for that matter.

What I am aiming to do, and have done so for the last 30 years or so is
build up a statement of the development of coinage through World history from the beginning of coinage c/- 600 BC, to current.

Like the growth of World population, there has been an exponential growth in the amount and variety of design of World coinage that accelerated after the issue of machine made coinage beginning from the early 19th century.

My 'set' currently has about 1,500 pieces in it, covering the last 26 centuries.
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AgCoinAu's Avatar
Canada
3049 Posts
 Posted 03/10/2015  12:54 am  Show Profile   Bookmark this reply Add AgCoinAu to your friends list Get a Link to this Reply
Sel:

Bedrock of the Community
sel_69l's Avatar
Australia
21788 Posts
 Posted 03/10/2015  01:35 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
1,500 pieces is just a few, I'll have to get hold of my daughter's USB microscope.
Started my 'set' in 1977.
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BadToTheBone's Avatar
United States
1795 Posts
 Posted 03/10/2015  10:54 pm  Show Profile   Bookmark this reply Add BadToTheBone to your friends list Get a Link to this Reply
I must say that 100% with Tryna and sel_691.
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