Tips for U.S. Type collection?

This

 

Log in or Sign up to hide this ad.

Same here.

 

Can you help me with this one? I'm new to buying graded silver. Following advice in other posts, sticking to low population coins, how is it eBay sellers can sell an NGC 1/1000 and a PCGS 1/1000 and it's the same damn coin? Seems like they (seller) submitted 1000 to each grader. Wouldn't that be a 2,000 pop?

I just bought a Moy, 2016-W MS70 1/300 pop for $145. Hope I didn't get jacked!

Oh, what about all these "Trump" FDI 2017-W selling for $145+? I got a set, FDI 1/2000 MS70 for $65..Are they really in high demand already?

 

what's a Moy ? show us a picture of it. you mean those Mint director signed Moys ? I think they are so over priced it's ridiculous. I myself can't see why anyone would spends so much on graded bullion unless it was a proof. and even then I would only pay $60 for a proof. there really is not that much difference in MS-69 and MS-70 on those

 

Collect for the coin. Don't get yourself caught up in all the population numbers and the MS/PF-70 marketing gimmicks. They don't mean anything. Relax and enjoy the coin for what it is.

 

Neither grading company includes the other in their population reports. While many coins would grade the same the PCGS or NGC many other would not as their standards do differ somewhat in how they grade. So the 1/1000 at NGC may or may not make a 2/1000 at PCGS if it was sent there, hence the population reports are company specific.

 

I've never completed a type set, but consider myself a type collector.

My advice would be to not let the "type set" constrain you or to force you to buy something just to fill a hole. Why waste $ on something that really doesn't appeal to you? Who are you trying to satisfy?

Secondly, if your goal is to build a complete set, what about breaking down the challenge? You could start with nickels for example. Jefferson, Buffalo, Liberty, Shield are four that wouldn't break the bank and allow you to be choosy. Part of the fun is to create mini milestones that completion would bring a nice mental reward.

You could also have some fun with just those four. Shield nickels are notorious for die cracks. Do you want to find one that particularly gets you excited? What a Jefferson war nickel? I guess what I'm trying to say is to consider how you might build visual interest beyond just acquiring the design type.

While I bet I could come up with some other pointers, I just want to say that you're going to pay tuition because you're going to make mistakes. For example, early copper coins often come with altered surfaces. Most don't know what to look for and it can be expensive in that area alone. Take your time and ask for lots of opinions on your potential purchases.

 

Dalton puts on a good one twice a year or check here
http://www.numismaster.com/ta/inside_numis.jsp?page=CoinShowsCalendar

 

Your first sentence describes me precisely.

There are many ways to define or limit a type set; many good suggestions and links have already been put forth in this thread. It's no crime to own more than one nice example of an issue you really like. And you can always broaden (or maybe narrow) your scope and goals once you've achieved a certain milestone.

 

Ah, the type set. First, I'd consider buying the book "A Guide Book of United States Type Coins" by Q. David Bowers. The book might be geared to the collector with a larger budget, but many of the principles will be useful and you'll learn an enormous amount about the coins you are looking at.

I'm thoroughly hooked on the type set idea. I started with a 20th Century set as the more modern issues are easy enough to find within a reasonable budget and I worked back to the earlier beautiful renaissance designs. I got sidetracked by collecting Peace dollars along the way, but I've been gradually filling in the 19th and even 18th century coins.

Don't worry so much about the rules. I'm perfectly comfortable knowing that my set will never be "finished." I'm not likely to inherit any early US gold or half dismes and they're far too expensive to warrant acquiring. Figure out a plan and avoid impulse purchases.

You can try to find any old thing, specialize in a certain look, try to acquire first-year-of-issue coins, key dates only, or anything that suits you. If you're looking for a bargain, make sure you're actually getting one, and not overpaying for something that doesn't measure up to its marketing hype. Knowledge is key and remember you're competing in the marketplace with individuals who have made their living at this game for their entire careers.

How to display it? I love the old Dansco 7070 albums, but it's sometimes hard to find one. My own type set lives in slabs, but I've PhotoShopped images of the coins into a single screensaver that I can enjoy at home.

Be prepared for surprises and keep a little fund available for opportunities that are unexpected. I worked like crazy to acquire the perfect seated half dollar and a week after buying one an even better one came along. Stuff like that happens.

Finally be careful. This stuff is addictive. I started out type collecting with a handful of interesting quarters I found in some junk silver.......

 

On that note, why stick with US coins? They are overly expensive and commercialized for what they are. Many collectors forget that there are coins from outside the US that are just as, if not more, historically interesting, prettier, and collectible than US coins, and they are often relatively VERY cheap.

Why spend $3000 on a worn-out 1796 half dollar? Sure, it's rare. Is there anything more special about it to justify that price? For that money, you can buy one of the finest Alexander the Great tetradrachms in existence.

 

Don't get caught up in the pop, either population or popularity. I have a US type set that I am working on, trying to get each non-gold coin in F/VF grade, and I collect outside the US. I own a Roman coin of which less than 10 are known in the entire world, yet I paid less for it than my 1801 Large Cent, 3 errors variety, which an estimated 1000 exist. Get the coins you like, in the grade you like, for the price you can afford. Don't worry about the others.

 

Alive and well...

My tip would be to join a coin club, attend as many coin shows as you can, learn as much as possible books & websites, and most important have fun.

Keep an open mind, everyone has an opinion including you. Listen to opinions, you may not agree with them, but you may learn something from them.

 

I was told to always collect the most expensive coins first since by the time you get done collecting, those will be harder and more expensive to get.

 

I've been told the same, but as I said above, I don't buy it.

1. The less you know, the less likely you are to get a good example for your money.

2. The older you get, ideally, the more disposable income you'll have.

3. The key coins don't always go up. We're still well below the price levels of the late-80s/early-90s bubble.

 

In a word... no. The hype machine is in full effect though.

 

Where are you finding a worn-out 1796 half dollar for 3 grand?!?!?! Take me with you!

The draw to united states coinage is obvious though as many of us are from here. I have no desire to collect international coinage because I don't connect with any other country. I'm American.

But really, I think the best tip is education before you buy. Go to a major coin show if you have easy access to one. Hold coins. Ask about coins. Sure on a Jefferson nickel, there isn't too much educating you need to do. But when it comes time for a capped bust or draped bust quarter, pick up a book and read about the issue. Tell tale signs for grading, pictures of survivors, different die states, etc as well as a history of the issue. Books can be invaluable.

I'm working on my own little type set, and I am focusing on circulated coins. I'm afraid of those high grade top pop coins where when someone resubmits and upgrades, it messes everything up.

 

Prices have gone up since I last checked. $18,000 for a PO-01 proves my point even more.

Same here. But I also like collecting from the civilizations I learned in history class, which include the US as well as ancient China, Greece, Rome, etc. When the push became paying crazy prices for not-so-rare coins to finish a set, I gave up on US coinage for something a little more diverse. I'm not paying $18000 for a worn-out hunk of silver for the sake of it being rare. Give me one good reason, other than it being rare and filling a hole, to pay such a rediculous amount for that coin when there are so many options available (1796 dollar, for example).

 

Haha yeah I Was just teasing a little bit. 3 grand for one would be an unreal deal.

That's a fair point for sure. To each their own.

 

Enjoy the hunt for coins.. It is never ending