Go for as key date or grade??

Fantastic advice. Thank you.

Yes, I think part of the fun is "the hunt" (for a good deal). Especially these days with the type of technology we have, e-mails to hundreds of dealers and veteran coin collectors telling them as soon a certain coin comes to auction etc., it's tough for us newbies to find those "elusive deals". But like anything else in the world, if you work at it, and you are patient, you'll find those deals - and when you find a deal, it's that much sweeter!
My favorite saying is "the harder you work, the luckier you get".

I just started this hobby 2 months ago and I have allocated in my mind about $6,000 for it, but I am in no rush to spend that money (as I know and as almost everyone on this site has told me) . I'm willing to make some mistakes, but am old enough (46) to know to be patient.

I'm also willing to look at is as a 20 year journey (retiring at 66). Just like I tell folks I work with - if your time horizon is less than 5 years, don't even consider investing in stocks or stock mutual funds - I guess the same applies to buying individual coins as others have said. Treat every coin purchase as you would buying a blue chip stock - buy it with the intention of holding it for the long term, but if a selling opportunity comes up, go for it. And don't buy an INDIVIDUAL stock unless you know the inductry (us coins), know the company (the series), it's management (the variety), it earnings etc. It takes a lot of years and a lot of education to pick stocks CONSISTENTLY and make money - the same can be said for coins. But that doesn't mean you shouldn't buy any stocks (or coins) until you are 100% book smart. There is such a thing as paralysis through analysis. I am a big believer in learning by doing - learning from your mistakes.

And to your point (I think), if a good deal comes up and it is a $6 stock then go for it, don't try to force it and say I have $100, it's got be a $100 stock.

You have just heled me quite a bit, Pocket Change. I have just had an atiitude adjustment and a good one. I am in the mutual fund investment business and going forward will be treating buying a coin as though I am buying an individual stock (not a perfect comparison but close). Knowledge, patience, and persistance will be the keys.

Am I at least on the right track with that?

Thanks!

 

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Since you specified "series" rather than "type set", I would lean toward the key/semi-key date
IF
you can get the grade you want.

To me Step 1 would be to decide what you want your set to look like when completed. Something like "XF or better". That sort of thing.
Step 2 would be to determine if you can get a key/semi-key that meets that criterium for your available money.
If "yes", then get the coin.
If "no", then either:
- continue saving until you get enough money, or
- get several lesser coins that do meet the criterium.

Another consideration is that if you buy the less expensive coins, how much longer will it take you to save (starting over at $0) enough to get that key/semi-key.