Low Grade Key Date vs. High Grade Common Date

I have often wonder what most collectors prefer for their collection. Let's say you had a set budget and you were going to buy one coin. Your budget is enough to buy a low grade (G4 or so problem free) example of the key coin in the series you are collecting...or just enough to buy a high grade pristine example of a common date. Which would you buy?

Before you answer...I'm not asking about long term investment potential or best "use" of your money. This is more a question to someone who collectors purely for the joy of collecting. Which would give you more joy...having a low grade example of a scare date/mm or having a high grade conditional rarity of a common date?

Personally, I am very torn on this. On one hand I would love to have that beautiful "fresh as the day it was minted" example of the coin. On the other hand, ever since I was a kid with my first Red Book those "key dates" jumped out of the page at me and just being able to have an example of one would be special. I think I'm in the "key date" group...but just barely.

 

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Assuming they're both reasonable investments - it's not a priority, but when premium money is involved it should be a factor - I'm doing the high grade coin ten times out of ten. Heck, I just did that with my latest purchase, although it'll be January before I'm done paying for it and you get to see it.

You can always be patient and save up/layaway a nicer Key Date example, but there is exclusivity to the Condition Census which I find quite appealing.

 

Third option...I want the entire set to look well together, so I would buy a better grade (but not the highest which you seem to be asking about) common date while saving up for a better than good key.

 

I like my sets matched in grade and look.

Example if I had a set of Lib nickels all in 65 except the 85,86,12,s in vg. I would look at them with distain.

When building a set I look at the keys is a price range that I find the look and condition is favorable to me then build in that grade/look.

 

IMO, because of this statement - it really does not matter and to each their own.

Otherwise, I believe it can be demonstrated from past history that there is a definite answer to your original question.

 

All things equal and this is the only choice (as written in the poll), I would go with the low grade key over the high grade common.

But then the OP makes a very distinct difference in the first post and further distinguishes the common high grade as 'conditional rarity'. In this case, I'd go for the conditional rarity as most 'common' key dates are plentiful in low grades.

Thanks for the thought exercise.

 

Yeah, that's exactly how I parsed his post. I'm more of a "type" collector than a "set" collector; if the opposite were true I might feel differently about it.

 

There is no definite answer as each person collects differently. But, as it often does...your post adds minimal to the discussion other than a superior attitude.

I was trying to take the "rarity" or "market desirability" factor out of it. By saying that the common date is a "conditional rarity" and making the assumption that it's cost is the same as a low grade key coin...I was trying to show that the supply/demand market factors for both coins was roughly the same. That was at least my thought on it...I probably could have been more clear. haha.

I think my biggest error in my original question was to mention "series" collecting. I shouldn't have said that.

 

I will admit...I'm more of a type collector too. That was my mindset when I posed the question.

 

I am the same type of collector as @SuperDave. I'm not a set builder, but rather a Type collector. So hands down, I will go for the high grade common date over a low grade key date every time. As a type collector I want a very nice looking example that shows off as much detail and luster and represents the designers intent as best as it can. Now if I had an unlimited budget from a Powerball winning, then I'd be out to buy high grade key dates as well as some of the finest known examples of common dates. I'd love to one day own an MS-68 '79-S, '80-S, '81-S or '82-S Morgan.

 

@CamaroDMD wrote: "There is no definite answer as each person collects differently." Thank you. Your statement is EXACTLY what I tried to point out.

"But, as it often does...your post adds minimal to the (non-discussion because of the original post.)way the discussion (other than a superior attitude).

Sorry you feel that way. IMO, the first paragraph of your post would have made for a great thread.

You might have dropped "condition RARITY" also. Hope you start a new thread on your original question w/o all the modifiers!

 

Be my guest...I'm sure you will do a better job.

 

I think one of my long term collecting goals is to assemble a nice high grade type set. I want to seek out the coins for it based on strike quality and eye appeal. One of the first steps I'm currently working on is to study each series in greater depth to learn which dates are the best struck for each series. Obviously, I already know some. The 1916 Lincoln and 1880-S Morgan come to mind as an example (I personally believe the 1880-S is better struck on average than the 1881-S...but it's close). But, I have a lot to learn about some of the other types.

 

For me it depends on the series. I am mostly a type collector too but have a strong preference for Seated, Bust and Barber coins and will buy those even when they have no place in the type set. I will take the high grade common coin in series that aren't really my love and/or when the "key dates" really aren't rare at all like a 16-D Merc. With Seated stuff though I would prefer the key dates and enjoy the hunt which can take a while to find one of the rarer issues. I am also a sucker for O mint marks and all things being equal will try and find a O or CC coin over a Philly when applicable.

 

“Ask not the elves for advice, because they will tell you both 'yes' and 'no'.”

― J.R.R. Tolkien

 

No thanks, I'm not skilled enough to make up a hypothetical and then word a question about it that has no specific answer. I like to deal with reality. For example: Would you pick an 1877 1C in Fine or an 1881-S $1 in MS-67 DCAM?

 

yes

 

If I were doing a series I'd take the cent; even if I were doing a type set, however, I would probably settle for a 65 to 66 DMPL and save the 6 to 8K to put towards the rest of my set.

 

I'd take the key date. I have a hang up for scarcity/rarity A rare coin at prices I can afford don't come along very often. High grade common coins are always available.

 

I will tell you that when I was assembling type sets, I purposely opted for key dates in lower grade over high grade common dates.

When it came time to sell, I was glad that I did. There is always demand for key dates, regardless of grade.