Poll: your strategy in collecting sets

If Im doing a set, option 3.

 

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Well, I'll add my 2 cents (probably more like 14,273 cents worth)....as a kid (50's & 60's), I filled coin books with whatever I could find, and regularly updated as I went along. Back then, I was specifically putting sets together.

The only set I've collected in the last 30 yrs is the state quarters (for my grandkids). While I do continue to upgrade (& complete) my previously started sets from time to time (yes, I still have them all), my main focus has been "what strikes me, best coin available at that time, right price, what I am willing to spend". Therefore most of my purchases are slabbed (unless I can see it in hand), and yes I do have multiple examples of the same coins, ie, I have several 1909 S VDB's. When I look, or have the urge now, it has to be a coin that I like.

In the last 30 yrs, I've only had 3 "Nevers": (1) Never regretted not getting (missing out on) a particular coin, because there's always another right down the road; (2) I have never in my life sold or traded a coin - that's a job for my heirs; and (3) never acquired an ancient (this "never" I intend to break some day).

Now, I just continue with my "Eclectic Box of 2000+".

 

That's pretty much where I am with a lot of stuff. Classic Commems you can do that way, since the coin you want is out there and not super hard to find, as is an upgrade later if you decide you want it, unless you're looking at top-of-the-registry stuff.

The other time I'll fit between 2 and 3 is when it becomes apparent that the coin I want is not available, so I adjust my expectations downward when I spot something perfectly acceptable at a lower level.

You'll find plenty of type 1 collectors (fill that hole now) in this category, where the opportunity to buy a super rare variety doesn't come up often enough for you to be able to stay on the sideline if you want one in your collection. If you're lucky enough to be able to cherrypick a rare variety, you buy it now, of course.

 

Call me a modified #1 because I never quite got over my early years of checking paper route collection coins and filling the holes of cent, nickel, dime, and quarter albums. With marriage and children, collecting went to the back burner. But once that passed I took up collecting with a renewed vigor. Over time I have modified my collecting habits by acquiring higher grade coins to replace many that were hastily purchased in years past. It has also become more apparent that at my age many empty album holes will never be filled. Such is life. But this does not diminish the thrill of the 'hunt.'

 

I try to stay in Option 3 as much as possible, but sometimes I'll dip into Option 2.

What I've found, however, is that if I buy a lower quality coin and then try to upgrade it, selling off the duplicate can be challenging.

 

I have put together several sets durring my time as a colector ., Dougs post in another thread about being a teenaged boy and the discovery of girls truer words were never spoken!
Even my early years married collecting wasn't like it was as a child or even now....I guess you go through many changes in life...
That said...
Your sense of values change throghout life...what matters at one point doesn't matter at another....
Since I have found two areas of collecting that really holds my interest I have forgone sets or filling albums.
I have several sets finished. Jefferson nickels 2 sets in unc. 1 in proof , Franklin halfs, Roosevelt dimes, 4 coins shy of my Mercury dimes to complete....
But these days my passion is varieties and half dimes.
Varieties allows me a challenge to hunt seek and find, use my mind to remember the pick up points,as well so many different variety coins in so many different denominations.
I'v always been a fan of the 5 cent coin....so half dimes ties in a bit of each the hunt as well a denomination I like.
Now as for condition of my purchases.... Well collecting h 10's 1829-1873 one learns quickly that even though not widely collected like others coins..findi g some dates and mm's are quite a challenge.
So thats where varieties come in. Between 1829 and 1837 BHD there's like137 die marrages...the SLHD 1837-1873 + mint marks also makes for a real challenge.
I never expect to complete both sets to my satisfaction before I die... but will conti ue to search each for. Coins needed both by date , mm and or die marriage.
As for condition well always look for the best one ca. Find and afford.
However these days yes quality is always appreciated but sometimes one needs to settle...
Yes I'v always been told go for the keys first ,but sometimes one needs to just enjoy the ride...... and that's where I am at....enjoying the ride rather worried about what I arrived in...
Now I must admit.....I do have a point where a coin no matter how rare if damaged or just has no appeal I won't buy....I just turned down such a coin.
Not to put any other collector down as we all collect what we like....I can not see any wisdom or value in collecting completely roached out specimens.
To each their own and some respect for trying to save survivors but would not wa t or appreciate them in my collection.
Now if money wasn't an issue and i had deep pockets....well then the sky would be the limit.

 

The only thing I collected that could go in a book was a type set that I sold 30+ years ago. My Austrian Niobium/Silver 25 euros (2003-present) don't have a book for them, and I wouldn't put it in anyway. They are the only set I collect by date.

 

Bacon

 

1 oz. silver art bars are fun - lots of themes and private mints to choose from - they're relatively recent, affordable and readily available on eBay & elsewhere.
Here's a sample of what's out there: http://www.silverartcollector.com/index.php

 

The tremendous variety of different ways we collect, what we decide to collect, how we collect, our choices (coins, or silver, or exonumia, etc.) and the thoughts we share with each other is the greatest attraction to this "sport"! (to me!)

 

I don't limit myself to one copy of a coin. I like to gather several in different grades for comparison purposes. There are some I have over 100 copies of. So I guess I fall into all three categories. As I don't keep albums, but have all my coins in 2x2 boxes there will never be a hole in my collection. Lack of a coin in indicated by absence of a line in my spreasheet.

 

As physics-fan stated, I also try to stay in the #3 option and
deviating to #2 very seldom. There is nothing worse than inheriting
a collection that is sub par. 95% of my collection is near museum
quality with the rest needing a slight upgrade. Do your heirs a favor
and leave VERY detailed instructions for disposition. In the mean
time upgrade and upgrade some more. It's bad enough that your
family thinks of you as the weird aunt/uncle while you are alive,
don't prove them right after you have passed on. This maybe a
harsh post but reality is. In the mean time I have downsized my
peripheral collections and using the proceeds else where.

 

Hello panzerman, Two other sites that might aid your
search are: numisbids.com and ma-shops.com .

 

If you have chosen a set to collect, follow
David Setree advice. Buy the the keys first
they will always be rare and only increase
in value. Also buy the relevant books.

 

Please, if you don't read anything else, know that I didn't take offense at this statement, nor do I mean any disrespect to your thoughts on this, but, I guess I'm one-of-a-kind. I could care less what my heirs think of my collection. I'm doing this for me, not for them, and I'm having fun. I'm not sure if I will even leave my collection to any of them. They don't need it, as I've provided for them in other ways. If I met someone, just starting out, that thought like me (scary!), I might leave it to them, for them to have fun!

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My family has plenty of reasons to think of me as weird, lol, but my coins are far down that list of reasons. But, of the family members that I've shown my collection to, well, part of it, they have been very interested in learning about different coins, mm, etc. They are amazed that coins were minted in half, large, two, three cents, half dimes, twenty cents, etc. They love to hold the coin in their hands (in a 2x2, of course), and generally have a comment like, "I bet that coin could tell a story as to where it has been". I love history! Coins are history, to me. I am EXTREMELY BLESSED, but I can't afford "museum quality" coins. I am thrilled for those of you that can, please continue to do so. I could possibly buy a moderate high grade coin, or I can slowly work toward completing a set of the "released for circulation" years and mints. It's fun to me to complete the sets. I upgrade as I can, but, if I don't have one, I get the best I can afford, at the time, and as it becomes available. I can't imagine enjoying it any more!

 

kountryken, I'm "all-in" with you. Only very few (like maybe 5, including my wife) of my many heirs have direct knowledge of my coin collection (I keep others focused on my train & record collections), though my 5 & 7 yr old grandkids seem the most promising candidates to continue the "pursuit which has no end".

I am intentionally close & secretive with my coin operation & not worried about it's future when I am gone. I trust that it will be of value to whomever receives it (I know who that will be), whether it's cashed out or carried on. (There is no such thing as a "sub-par" collection, btw.)

Right now, it's just a form of immense enjoyment!

 

I chose option #3. I'm trying to patiently complete a Peace Dollar set and not finding the "s" mint coins to my liking. So I've been working on my Type set in the mean time. I don't want to compromise.