Since recently getting back into coin collecting I have been working on filling the holes I had in my sets from when I was a kid. I am mainly focusing on pre 1970 stuff. That's when I quit as a kid and for what ever reason I am just using that as a cutoff on all the various denominations. Now I have got to a point that all that is left on my lincolns is the Keys. There are about 5 keys that I will have to focus on. Compared to other coins I think the Lincolns have faired well over the years so I wanted to concentrate first on completing the set to a point where I am now at...less the 5 keys. My question is what next? I have a lot of holes in my Indians, Buffalo, Mercury, Washington and Morgan's. I have a few Liberty's and such, but am thinking mainly going for the ones I mentioned earlier. I would be interested to here some input and reasons why people go after certian coins. One thing I have been studying is the returns over the years. I used 1980 as a base. More of a long term outlook. Seems like it varies from 2-7%.
First, what set grabs you the most? It's much more fun to collect something that really interests you. Second, what will your wallet support? Since the Lincoln keys appear to be holding you back from finishing that set, the others you are thinking about aren't going to be much easier. If you want something easier on the wallet consider the silver Roosevelts or the Jefferson nickels.
I'm pretty good on the Jeffersons. Only a couple I don't have and they are not expensive. I want to get all the commons and semi keys out of the way for all sets, before finalizing the keys. I like the Morgans, but the commons are all $15 to $20. I may go after the Indians next.
I'm with Kanga... #1 What do you enjoy ? #2 What will your wallet support ? If your goal is to truly complete a set, the wallet issue is paramount. No one uses rough price guides like PCGS or Red Book to get an exact price for a particular piece (i.e. buying or selling). But when I'm making broad decisions like "What series do I want to collect ?", they're plenty good enough. One can very quickly look through there to see what is reasonable for one's means. That's how I found out a set of $3 proofs is not in my future !
I guess I am not making myself very clear. I know I can't compete a set. I do know I can complete sets up to a point. Besides being subjective about a set such as, "I just like that coin" I was hoping to hear comments that I had not already thought of. I have been out of coin collecting for many years and am just now getting back in. I guess what I was hoping to hear was 20 years from now the mercs (for example) will be more sought after than say an Indian head penny for what ever reason(s). Also as I mentioned earlier there are value tables out there showing returns for various denominations, but not all. Why do the mercs have a lower return than the Lincolns? Also, just so you know, I don't ever plan on selling my coins. I just want to be smart about what I buy. Besides the thrill of collecting, I also get pleasure on appreciation of value. Maybe I am not approaching this right or not explianing very well.
tex - the coins that will always show the best returns over a period of time are those that are most popular. And the two most popular coins there are - Morgan dollars and Lincoln cents. And it's very debatable about which one leads the pack. That said, if you are after value appreciation then you either have to be very lucky, or very, very good when it comes which coins you buy - regardless of what denomination or type you choose. From among all of the others, besides Morgans & Lincolns, no single coin stands out or really has better chance of being the one than any other. If I really had to pick, then I'd probably pick the least popular coin there is, the Roosevelt dime. But what I said above still applies. BUt you say you know Lincolns, so why not stick to Lincolns ? Just start a whole new set and go from there. You probably stand a better chance of doing well with them than you do with anything else.
That's the kind os info I was looking for. Surprised to hear you say that picking value coins is hard. From what I have seen, that looks fairly predictable, based on coin tables over the years.
"My question is what next?" Nobody can answer that question except you! To wit, I would go with a) what you know best, and/or b) what appeals most to you.
Well, Miller Lite appeals most to me, but empty beer cans have little value, hence my love for coins. I thought there would be more of a logical answer on this, but I guess that's the beauty of our hobby...to each there own.
WEll I gotta say I hav ealways been impressed with a BU Silver Half Dollar Set. From Walking Libs to Ben Franks.
Must say I'm partial to silver halves. I have completed the walkers and franklins and kennedys. Now I have a new dansco for barber half dollars and that is my focus.
