I'm starting a short set of WLH. If been looking at a lot of coins. I'm thinking of a ngc or pcgs slab bed set graded from 64 to 66 with the majority of them as 65's. I've set a price range per coin that I don't want to exceed. Before I go crazy id like to get some tips from the pros on what to look for and what to be careful of for this series. Of coarse the coin needs eye appeal and a good strike, where are some of the problem areas on the coin? Who does the better job of grading them? Where's some good dealers for this series. I'm just looking for some good general discussion so thanks for posting.
IMO, Walkers are a "strike" series. Fully struck specimens sell at a premium and are tough to find for some date/mm. Look for full thumb, good head detail, and full skirt lines. The design is busy on both sides and minor marks tend to get lost in the devices. Because of this I prefer to look for examples with clean obverse fields. The TPGs consider the focal areas: Liberty's body & arms, the sun, the date and on the reverse are the head neck and breast of the eagle. It is nice to say that you want coins with eye appeal, but I found that finding fully struck Walkers with good eye appeal can be very challenging, even for the common dates. This series does not come with rainbow toned examples. The majority of toned Walkers will have speckled russet or charcoal toning that detracts from the overall eye appeal. It is really rare to find a colorful & attractive coin. In addition, luster profiles can be change drastically from obverse to reverse. I collected this series very briefly before I gave up but I tended to like coins with a decent strike, full luster, and moderate marks as long as the obverse had clean fields. For toned examples I preferred to seek coins with a monochromatic gold appearance. I think you should start with a short set of the common dates post 1934 to see if you enjoy the series. The pre 1934 coins are very expensive in gem/near gem.
There is tremendous quality of strike variation within this series, but one thing to keep in mind is that a coin that is struck well for the issue might not have a full strike when it comes to details. That is, some coins just don't generally come with details in certain areas. This is most easily seen when looking at Ms. Liberty's hand and thumb going across her gown. The S-mint pieces will be by far the most expensive for the short set and they may look mushy when compared to hammered P-or D-mint coins. The luster on these can be fantastic or can be creamy and satiny so you need not settle for an overdipped piece that is otherwise lifeless. An arc of color along the rim is not all that uncommon and can bring the set to life without paying full boat for what some might call "monster" or "rainbow" toning. This is a great series and can be a wonderful short set, but (and there is so often a "but" when I write) the short set is fairly generic and upon resale it will likely be viewed as "wow, that's cool, but...it's generic". At this time, and for quite a while now, PCGS coins are more liquid and typically fetch more upon resale. Nonetheless, there are some outstanding pieces in NGC holders and many, many really nice coins that are raw. If you love the series then you should go for it and it will be a great learning tool. If you really want a challenge you should attempt the early part of the set (1916-1923) in problem-free circulated grades where you will find these are a different animal in everything except name. They are one whale of a challenge for early pieces in circulated condition with meat and good eye appeal and when sold these are not considered generic. Good luck.
I have been planning on dates post 1939. Its been interesting as I look at auctions I found that at times I would be more inclined to bid on a coin that is a grade lower but have skirt lines on the leg than a more lusterous coin with a higher grade.
The short set is a very good place to start. You can get high quality coins for low prices. As others have said, you may not get those prices back when you sell. Stay with high end coins for the grade. I am working on a MS66+/67+ CAC short set. I try to only buy full strike coins that are blast white. I know I will never get back what I have paid for some of the coins. Many of the 66/67's are coming down a lot as more hit the market. From the short set you could then venture to the middle years. They are not too bad. Beyond that you will will be spending big money to get coins that are VF. Have fun with it.
One thing that I have noticed on some of the S-mint coins is that you can find a obverse that has a decent strike on it for an s-mint but the reverse eagle's leg feathers are non existent. What's up with that and how does that effect the coin as I don't see too many discuss the strike issue with the eagle.
I have a set of 1941 PDS halves in MS-65 (it part of my birthyear set). The difference is rather obvious. The P half is a rather nice strike. The D half shows some weakness. As for the S half, well you can see significant flatness. I can post images but they will be a bit large. It's the only way you can reasonably see the differences. Let me know if you want to see them. Oh, and 1941 and 1942 are noted for weaker strikes, particularly the S Mint halves.
I would build a set of all the same grade. probably MS65. you'll pay up for a few of the coins but take your time putting it together. I most have gone thru/inspected 40 coins to find a '41s I liked. they're just not well struck. be picky it will pay off down the line.
Careful... You may get hooked. I sure did. I'm working on problem free early pieces. This is the key date.
I do not specifically collect Walking Liberty halves, but it is my favorite coin design. I have been an admirer of this coin for years and have many in my collection. Most walkers do tone in usual charcoal gray sheen. As seen below.<br/>
Here is a good article worth reading: Classic U.S. Coins for less than $500 each, Part 10: Walking Liberty Half Dollars
