Hi All, I wanted to see how everyone weights the length or size of a set when starting to collect that set. Being a fan of US moderns, I find myself getting intimidated by how many issues are in some series. For example, they've been pumping out Jefferson Nickels for over 80 years. Roosevelt Dimes and Washington Quarters are in a similar boat. Lincoln cents are even longer if you lump shields in with wheats and memorials. What are your thoughts on this aspect of collecting? Do you go for shorter series? Do you complete short sets? Does the length of a series/number of coins to collect impact the value of that series? Will
Surprisingly, US moderns have been minted in such ample numbers that assembling Jefferson or Roosevelt sets are pretty easy. Now, a Washington quarter set will get challenging as will a full Lincoln cent set. I started my Lincoln set in the 1980's and didn't complete it until the early 2010's. I think it took me maybe two months to assemble a Roosevelt dime set. It didn't even feel like I had accomplished much because it was so simple to source. I can't remember nickels... Seems I did that set in six months or so. If you wanted to do a modern Lincoln set, I would think you could start at 1960 and have a bit of challenging fun without breaking the bank and the set would make sense.
The key for me is the expense of the set. A set of State Quarters has a hundred coins in it if you collect the Philadelphia and Denver Mint regular issues. If you add the clad Proofs, that’s another 50 coins and the silver Proofs add 50 more. After the prices for the 1999 and 2001 Proof sets settled down, the overall cost is not that bad. Of course, if you go nuts and decide that you want “registry quality” finest known coins in grades like MS-69 and 70, the price of the set can go through the roof. My response is “No way.” The Roosevelt Dimes are similar. I bought a set of the silver Roosevelt dimes as a set for less than $175. That is the cheapest way to go although not as much fun for some collectors. I bought a set in two old plastic holders that some collector had really been fussy about when he building it. There are some really pretty coins in it. When I look at the 19th century sets, like Seated anything, or Liberty gold anything, I look at the number coins, and the number better date coins, and I say “No way.” In addition I’d get bored in the middle in lose interest. I put together sets of the Classic Head $2.50 and $5.00 gold coins. If you collect only the “Red Book” listed coins, and not the die varieties, there are 11 $2.50 coins and eight $5 gold coins. Before you think that looks like a “push over,” there are the first Charlotte and Dahlonega gold coins in that set plus a couple of “sleeper dates” like the 1839-P quarter eagle which sells for a few to several thousand dollars in Ch AU and low end Mint State. Bottom line, it’s an expensive group of 19 coins, but if you are interested in the Andrew Jackson era of American history, it’s interesting. Before you start any set, you need to take a “Red Book” and run down the columns of the grades that interest you. The numbers are not precise, but it will tell you weather or not it’s a viable set for you. You will also have to decide if you can live without the coins that are beyond your reach. I spent 30 years collecting the early half dimes knowing that I would never complete the set because the 1802 half dime has always been beyond my reach.
Depends on your personality. I have a lifetime to complete the sets, I'm not in a hurry really. Others might want to focus on one design, complete it, and then move on to another, ect. I tend toward Key dates and semi Key dates first, since they will be more expensive and the hardest part of completing sets, and pretty much roll hunt for everything else as a starter. Even if I was finished and had every example, I'd switch out with better quality as I come across them. Some people just want to be finished and have a whole set, I don't really care if I ever finish a set, and so far I've only got clad Washington quarters finished and State quarters and I am current on parks, and I'm still coming across better examples to upgrade to along the way, all of my sets are at some level of completion, but not complete. I would say if you get overwhelmed on some of the larger sets, work them in sections instead like with cents do Wheats, memorials, shields, instead of all at once, start with shields, then memorials, then wheats and go from easy to hard if you like, or go the opposite way. or just collect a part of it. Like in nickels, the war nickels, or the newer Jefferson designs first, or silver roosevelt dimes, silver quarters, then clad, then state ect. Do it in steps instead of trying to take it all on.
I agree with Randy above. I put a complete average circulated date and mints set of Roosevelt dimes together in a weekend. I bought $500.00 face of scrap dimes and a Dansco album at my local LCS when silver was around $3.00 an ounce. Pulled many Mercury and Liberty dimes as well.
Thanks for the advice all on focusing more on value of the set. I'm leaning towards working on short sets (like starting with shield cents) and working my way back. I should have mentioned that I'm looking at high grade examples, as much as I can afford before you see the big price jump. Sign me up for the $20 MS66 but I'll pass for now on the $1200 MS67. Will
Can't blame you on that one, especially when most people can't tell the difference and sometimes the graders fall into that category.
