QOTW: Why do collectors buy complete sets?

Why do you assume that all people buying on eBay are collectors. Dealers and investors also play on eBay. Someone may also buy a beginner's set just to get started or find a set where there were a couple nice additions to his set with the intention of selling the rest.

 

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I believe you are right. I would bet that for most sets out there, at any given time there are very few people looking for 'that particular set' and who can also afford to buy the whole set. Most people like to put together their own set to their standards. So it drives the prices down.

I've noticed this on MS Franklin half sets. I'm putting one together myself, but I've noticed some on ebay that looked really nice, for way too cheap and they did not sell. I say really cheap because I know to the penny what I have and what I will have in mine by the time I'm done and it doesn't look like I would get it back on ebay if I wanted to sell as a set. Not even close. Which was surprising to me at first but as I said here, how much demand is there for complete sets?

I've also seen some really bad sets that looked like they were just thrown together. I don't know about you guys but it bothers me when people throw coins in an album and then don't line them up straight. It just looks like a mess when they're thrown in haphazardly. And then people try to sell them like that on top of it.
Some sets also have drastically different coins, as in some toned, some BU, different grades, some probably cleaned, some beat up. I wouldn't buy a set like that.

I certainly wouldn't mind buying a partial set if it was a decent one for the grades I was going after. Or if it was something I wanted for the fun of it but didn't feel like spending a lot of time on it.

I'm going to guess that 9 out of 10 sets, reguardless of grade, contain several problem coins that would have to be upgraded. A true premium set would be worth book price, IMO for the time it takes to put some of them together. The problem is, how to know that from an ebay auction?

 

It was just a general question to ponder. I wasn't suggesting that all people buying on ebay are collectors.

I also think that there are collectors that buy complete sets.

 

With my dansco albums that is one thing I don't keep track of. I really wouldn't want to know how much I have in 5 Roosevelt albums. I have coins that are toned that I paid over $20 each for.

 

I started keeping track for everything after I got back into it last year. Every coin or sometimes group of coins I purchase gets entered into my customized Excel spreadsheet with general info, sometimes a picture (depending on what it is), date purchased and purchase price for future reference.
The columns auto total when I enter prices and quantities in so it's pretty handy. All sheets for silver coins in the program also automatically tally bullion totals as they're entered as well. Just to know for the fun of it, despite numismatic values.

For example, I currently have 9.04 troy oz. worth of silver dimes on hand. Found that in less than 10 seconds. Luckily I started this early on so it's pretty easy to update as time goes on.

I recommend it. Especially purchase dates and prices. Could be interesting in 20, 50 years and beyond. I usually list where I purchased stuff from too.

 

I do the same thing for all of my graded coins but I just don't have the time to do it for all the raws.

Also make sure you always make a back-up copy or print it out. I got a virus on my computer a couple of years ago and I lost a lot of my spread sheets. It took me tons of hours to re-enter everything. I also keep a copy of all of the invoices of the graded coins I bought.

 

I did buy what was a complete set of State quarters on ebay but since then they have come out with others. I bought it because I didn't want to look for both mints of each state as late as I started looking for them and wanted them all uncirculated.

I wouldn't buy another set like that though. I do find a thrill in finishing the set myself. Today I filled 2 holes in my lincoln cents (wheaties) and can't tell you the thrill I get from filling a hole.

 

Oh I hear you! For as much time as it took to do it there was no way I wouldn't have it backed up. I periodically back up to an external hard drive AND a flash drive. I wouldn't even want to mess with just setting up the program again.

I have quite a bit of stuff I don't enter either. If I buy a roll, I don't break it down. All that matters is what they are and quantity. I may have 10 1937 Buffalo Nickels but I would only enter the best one that went in the album on the spread sheet. If I have multiple Franklins, I enter the best one in the album and say qty. 3 for example. It works for me. Well, back on topic. Sorry.

 

let's not forget that some people are just seeking immediate gratification

 

Price a set of 1941-1958 wheats, then compare the individual coin price, the whole set goes about 8-10 bucks, individually it's probably almost 100.

 

Yes. This is the right idea. Did anyone ever add up the time spent and the gasoline burned going all over creation to hunt single coins?

 

Yup. If they don't care how the set looks then how much did they care about the coins? I have written to a few sellers to ask why they can't at least straighten out the coins. Most just ignore the question and the set sells anyway.

 

I've bought one "complete" set, a 1938-1966 Jefferson nickels set. It's in one of those really old Whitman albums that you can see both sides of the coin. I paid an insanely low price for it in a coin shop. It had the 1950D included, not to mention all the silver war nickels. Those items about cover the cost of the set and album by themselves. I'm slowly upgrading the lower pieces, and since it stops in the early 60's, I have all the hard 70's and 80's yet to find from circulation.....which is a lot harder than it sounds.

 

I once bought a complete flying eagle and indian cent collection for $2000. Pulled the 1877 certified vg-8, the 1909s certified ef-40, and the raw keys 1864 L, 1871, 1872 1908s. then sold the rest for $600. I felt like I made out. Took less than 2 weeks to turn the whole lot.

 

Maybe think of it this way...

If that is how the seller has treated the coins up to this point, then he probably treats all of his stuff in this manner. Do not be surprised to see coins that have been mishandled and bid accordingly.

 

Well this is the truth. Some just want to get it over with.

 

Yes those are all over eBay. I've got a few 1941-1974 sets. But it's not worth it to put them on eBay.

 

The sum cost of the parts is ussually greater than the whole.

 

Reasons why for me?

-Imaptience to complete a particula set
-lack of particular coins in my area
-Cheaper to buy the whole collection vs the individual ones i need (buffalos escpecially)
-underpriced
-gift
-investment

Right now I am searching for a complete P-D-S Sac collection. I have a complete P-D set, but I want the proofs too.....The prices of the proofs individually are going for more than a whole collection lately so I buy the whole collection then go back and sell the
P-D's that I don't keep.