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 Replies: 14 / Views: 1,737 |
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Pillar of the Community
United States
4469 Posts |
I am starting a custom 7070 coin type set in PCGS or NGC slabs. The set will not have any coins minted after 1964. I will be getting about 4K back from my taxes this year and will be putting this money into the type set. I am also considering selling my Peace dollar collection to help fund the 7070 set. I have a Morgan collection, but I am not considering selling any of those coins. I have never purchased a copper or gold coin. I did buy a book to enhance my knowledge about gold coins. I will be buying most of the coins on ebay, but I also use Great Collections, Heritage and sometimes buy direct from coin dealers. I would like to hear about any tips that you can provide. |
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Valued Member
United States
152 Posts |
If you are getting $4k back from taxes you are way overpaying during the year. Basically giving a interest free loan to the government. I would try adjusting that.
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Pillar of the Community
 United States
4469 Posts |
I retired in 2015 and only worked half the year that resulted in the tax refund.
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Pillar of the Community
United States
3210 Posts |
Slider I sent you a pm, please get back to me at your convenience. If your looking to get certified examples for your type set, I'd peruse greatcollections for this Sunday's auctions or try ebay. When it comes to good gold that's gonna be your biggest challenge. |
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Rest in Peace
United States
17900 Posts |
For gold - especially the Liberty series in all 4 denominations, be particularly careful to avoid "copper spots". When the metals were mixed and the sheets produced it is not uncommon to have a few areas that are not completely blended and have copper at the surface of the coin.
Those copper spots can't be fixed or removed and will always be there. It costs NO MORE to be sure and avoid them. Some collectors, myself included, really hate the copper spots and you lose a fair number of potential buyers if the item has copper spots.
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Pillar of the Community
United States
4085 Posts |
I would put some thought into what average grade you want for the copper and silver coins. Some people who have assembled 7070 type collections have stuck to a mostly uniform grade while others have varied grades. For my set, I tried to keep to a minimum grade in the VF range, but acquired XF, AU and even uncirculated coins for later dates where I could. I also made a few compromises and went with G or VG coins in some instances where budget dictated. It all comes down to the overall look you are going for. In my case, the coins in my 7070 have a progression that I think looks pretty natural although others may shoot for more uniformity. I will say that if you try to shoot for a uniform grade - say, XF, plan on spending a lot of money for certain early coins.
For the gold coins, grade is a little less important just because they tended to not circulate much, so AU to MS is pretty typical.
Good luck! It is a fun collection to build.
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Pillar of the Community
United States
591 Posts |
moxking - I recall another post where you recently suggested avoiding copper spots. I had posted this reply there. Please, do you think this assessment is really off base? from https://www.NGCcoin.com/news/viewar...rticleID=572"Understanding how copper spots form helps the knowledgeable collector appreciate that such spotting is a natural consequence of the coin-making process and not something to be alarmed about. Indeed, veteran numismatists appreciate the "originality" that such features impart to an old coin. Copper spots and streaks imply that a coin still has its "original skin," a term that is used widely within the coin business to describe pieces that have not been improperly cleaned and are thus natural in appearance. Typically, gold coins having original skin will show a fine layer of gentle haze in addition to whatever spotting is present. It may be that originality is an acquired taste that does not come quickly to the novice, but it is something that every buyer of gold coins should strive to understand and appreciate." Edited by one_fine_dime
03/25/2016 5:25 pm
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Pillar of the Community
United States
591 Posts |
Quote:
I did buy a book to enhance my knowledge about gold coins Slider23 - which book did you buy? Edited by one_fine_dime
03/25/2016 5:29 pm
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Pillar of the Community
United States
4469 Posts |
I bought the US Gold Coins 1795 - 1933 by Jeff Garrett and Ron Guth 2nd edition.
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Valued Member
United States
291 Posts |
Edited by usc96
03/25/2016 6:25 pm
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Pillar of the Community
United States
4469 Posts |
I am going use the NGC Registry because I want somewhere to put my photos and comments about the coins. My set will not compete in points as I do not have the money to buy top pop coins. I am doing this set for my enjoyment.
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Pillar of the Community
 United States
3058 Posts |
Sounds like a nice type set! That is exactly what I am doing!
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Valued Member
United States
291 Posts |
The parameters for my set are MS/PR-63 and up for pre-1965 coins, and MS/PR-67 and up for 1965 through current coins.
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Pillar of the Community
United States
4469 Posts |
USC, the link to the NGC and PCGS registry must be yours. You have some very nice coins. My parameters are going to a little lower:
No Modern
VF 30 to XF45 early copper and rare silver
Target MS64 or MS65 when affordable (no coins higher than MS65)
Gold: AU58 to MS63
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Valued Member
United States
291 Posts |
Slider,
I completed an actual 7070 album about a decade years ago, and that inspired me to start the 7070 registry on the NGC site. When the PCGS site added the virtual album, I started entering my coins on both registry sites.
While progress is much slower now, I am slowly filling in the empty holes. The coins that cost $500 or less are already purchased and in the set, so each additional coin now feels like an investment. Eventually I expect it will be a very nice set.
One really nice part about both, but particularly the PCGS virtual album registry, is I can start adding the older coins that predate the coins you might see in a traditional 7070 album.
Edited by usc96
03/25/2016 10:20 pm
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Replies: 14 / Views: 1,737 |
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Posted 03/25/2016 3:38 pm
