So far in my 3 years of collecting I've completed two "major" sets: - American Silver Eagles: All proofs in OMP, all burnished in OMP (including the 2008 / Rev 2007), all bullion in NGC MS69, and all 3 anniversary sets in OMP (1995, 2006, and 2011 on a very early confirmed order). - Kennedy Half Dollar Proofs: 1964 PR68 DCAM, 1964 A/H PR67 CAM, 1965 SMS PR67 CAM, 1966 SMS PR66 CAM, 1967 SMS PR66 DCAM, 1968 PR68 DCAM, 1969 and 1970 PR69 DCAM, 1971 PR68 DCAM, then every proof from 1972 through 2011 in PR69 DCAM (includes 1979 and 1981 Type I and Type II, plus 1976 and 1992 - 2011 Clad and Silver). To make a complete collection of modern era dollar proofs, I also have the complete sets of Eisenhower, Susan B Anthony, and Sacagawea dollar proofs (all PR69 DCAM) and the Presidential dollar proofs (all in OMP). Upkeep on those sets, in the absence of a mad scramble like the 2011 ASE anniversary set, is pretty minimal i.e. there are no challenges left in them. I'm not into DDOs and the like so they are, to my mind, complete. I have the first two years of ATB 5oz coins in bullion and "P" mintmarks up-to-date, but I'm having second thoughts on those. Storage is a real issue, and if I hadn't been able to get them essentially free of charge by flipping other ATB sets early in the madness, I'm not sure I would have ever started. I do think a complete set of them will be a magnificent sight though! With that said, I'm seriously considering selling the ATBs and going for the 12 piece gold type set next. It has some serious challenges in it e.g. the $1 Type II and $3 Indian Princess. It's certainly not a set that I could wave a credit card at and be done with, not in higher grades at least, so it would take me a number of years to complete. It would also be something different as, apart from the incidental gold proofs in the 1995 Eagle Anniversary set, I don't have any gold coins. The only thing that's making me hesitant is the price of gold. I know, I'd have probably said the same thing $750/oz ago too So here I am looking for input from the bright minds at CT. - Have any of you completed this set? Any pitfalls to look out for along the way? - Would it be advisable to concentrate on the earlier / smaller denomination coins now with gold so high, then look at the $20 St Gaudens/Liberty and the $10 Liberty/Indian if it comes down a bit? Looking at price histories, the $1 gold in particular seems to have had a rough time the last 3-5 years. Buying low appeals to me IF this is indeed low for those coins. Meanwhile the St Gaudens looks to have shot up pretty much in line with the POG. - Does this look about right for grades to aim at, or am I out of balance somewhere? Gold Dollar, Type 1 (1849-1854): MS63/4 Gold Dollar, Type 2 (1854-1856): MS60/1 Gold Dollar, Type 3 (1856-1889): MS63/4 Liberty $2-1/2 (1840-1907): MS63/4 Indian $2-1/2 (1908-1929): MS63/4 Indian Princess $3 (1854-1889): MS61/2 Liberty $5 (1839-1908): MS63/4 Indian Head $5 (1908-1929): MS62/3 Liberty $10 (1866-1907): MS63/4 Indian $10 (1907-1933): MS62/3 Liberty $20 (1850-1907): MS62/3 St. Gaudens $20 (1907-1933): MS64 I figure that in those grades it would be about the same outlay as completing the ATB set. I'm asking myself seriously which I would rather have, and which will be the better long term investment. As always, thank-you in advance for any insight that you fine folks have!
I would not recommend jumping into anything like early gold based on three years of collecting moderns. If I were you I'd spend a bit of money on some books, and let what is intriguing, fun and affordable drive your collection. There is a lot to learn. Lance.
I agree with Ike! There is so much more to learn about the early gold, and it is much easier to make mistakes with them than with moderns. Have you discussed your idea with any veteran gold collectors? If you're a member of the NGC or PCGS forums, you might want to study some of the gold Registry Sets and possibly ask a few of the owners for some guidance. Chris
Thanks for the input guys. Definitely not jumping head first into this hence the initial questions. I'd plan on buying 1 or maybe 2 of the coins each year and researching the heck out of that particular coin before even looking for available examples. That's what I'm looking for: a challenging set that requires a lot of study and patience on my part. The sets that I've completed are wonderful sets, and I wouldn't trade the ASEs in particular for anything, but they weren't that challenging except for 3 or 4 of the more difficult kennedy halves. With the gold set pretty much every coin would be a challenge, would be different from the prior coin, and would require learning a lot of new information. So far I've read a lot in various forums. CU was particularly enlightening as someone had almost the same questions as me last year and received a wealth of useful input. That was where the idea of starting with the earlier, low denomination coins came from since I'm on the fence about where the POG is going from current levels. Selling the ATB sets would give me enough money for 2 or maybe even 3 of the earlier coins, but I'd look to stretch those purchases out over 1-2 years while I learn. I'd consider starting with the Type 3 $1 as it's about the cheapest in the set, so a mistake wouldn't hurt too much. Also there are enough years and mint marks of that coin that on its own it would require much research. A thought that has occurred to me is to buy a common date Type 3 $1 in both e.g. XF 40 and MS 63/4 as a way of getting hands-on with grades without risking a lot.
In the case of the Type 2 Gold $1 and the $3 gold piece, I would shoot for a nice AU55-58 example, as opposed to an MS61-62. The latter will probably be pretty beaten up and not look very nice. On the other hand, you might be able to obtain choice AU representatives which, overall, are more appealing looking than the low grade uncs.
Interesting, thank-you, I've read the same advice in a couple of places. It's too bad there's such a dearth of dealers near me as I'd really benefit by getting hands-on with these rather than studying everything online. Auction photos, even the high quality pan/zoom HA ones, only get you so far. Perhaps a type 3 $1 in high AU and low MS would be a good start to learn the differences in eye appeal, strike quality etc without breaking the bank.
I'm glad to know you are aware of the limitations of having to try to judge coins, based on (even very good) images. If you examine enough coins, you will find very nice, as well as sub-par examples of both high grade AU's and low grade unc's. However, I think your odds of locating a pleasing AU are greater than that for a pleasing low grade unc. And the former also offers the advantage of a lower cost.
