Thinking Of Starting A 7070

right. my questions was, would there be more value if used graded coins in the 7070. I have read mixed reviews on that

About building a set in AU:

You certainly can get some AU coins; later dates are very affordable in AU. To do an "all AU" set is possible but can get very expensive with a few of the coins pushing $1000 each.

About using raw vs. slabbed/graded coins:

I have built my 7070 using mostly raw coins. I have used slabbed coins for highly counterfeited coins such as the seated and Trade dollars as well as a couple of others where the price was right.

Slabbed coins tend to be "problem-free" - uncleaned, etc. They also are a little more expensive and when you break them out of the slab, yes, I do believe you lose some value. I have no problem with slabbed coins but I do think that there are slabbed coins that have been cleaned or otherwise messed with just as there are raw coins that have the same issues. I try to buy "the coin". Sometimes I see coins in slabs and think "how in the world did that ever get in that slab? Obviously cleaned, covered in hairline scratches, etc. I am very picky and look at A LOT of coins before I actually make a purchase.

A comment about your goals for the 7070 and as a collector in general:

I think you need to decide what your goals are. I can't answer that for you, but I can tell you what mine are. For me, I have always been interested in the concept of getting "one" of each type of coin. This goes all the way back to childhood. When I discovered the 7070, I thought "perfect".

I think you mentioned paying $15 for 11 Merc Dimes. Which is fine, but to me, I'd rather buy one MS-64 Merc Dime for my 7070 then have several lower grades. Again, there is nothing wrong with collecting lots of coins. It just goes back to "what are your goals?".

I also decided that I wanted to be able to see all of the major details on each coin. This led to a minimum grade of VF in general, with XF being a "stretch" goal.

I also wanted a pleasing appearance. For some, this means uniformity of grade. For me, it's a "fuzzier" concept. I want to show a progression of the history of the coins, so having toned VF coins and AU or even BU or proof coins for the newer types doesn't cause me any worries. I like that look. Others may take a different course. Viva la differance!

I started my type collection without the 7070. It felt out of control to me and was difficult to look at. I liked the way the 7070 organized my collection. But one option is to start to collect type coins and add the 7070 later on if you are sufficiently interested.

There are many paths to follow in coin collecting!

Best regards,
Ken

p.s. After I previewed this, I realize this is more like a blog than a post! Sorry for the length!

Good luck with your quest SDcoin. I found that about 25%+ of the album can be filled with high grade coins for <$15. You could even fill some of it practically with pocket change, since the modern types are included as well as the classic types. I would start with these, and then when you get into the early 20th century stuff, it starts getting more expensive. I started my type set with a VF+ goal, but then switched to XF/AU or higher about half way down the road. This was because all of the moderns were already AU/BU, and I wanted the detail level to be somewhat consistent. Tne consequence though was that my budget had to go up drastically, and I slowed down quite a bit with my purchases. I don't regret it at all though, nor do I regret the ones I've cracked from their slabs.

One thing I think would be really cool is to do an F/VF type set that is consistent all the way through the modern series! At this point, the tough coins would be reversed, as you'd be hard pressed to find an original F/VF sacajewa dollar or State Quarter. :-) Just a thought.

As stated though, you will be best off to set a goal and stick with it. VF/XF is an awesome goal and is very doable, but there will be several coins in the $200-$600 range to prepare for.

bryan,

how much, avg did you pay, if you do not mind me asking, for your large cents, capped busts, Half Dimes, most 19th century stuff... I will most likely settle for VF-XF for those

i officially decided to start a 7070. I have few coins to start me off in the right direction. I realize that this will take some time but will nevertheless be fun. its a cool piece of history to have in my collection.

I keep thinking about starting one of these. I should probably fill a few of my modern books first, though. I definitely want to be in a position where I can be sure that I'll never sell it once I get started. This is not a set that you should aspire to complete unless you fully intend to keep it forever.