I am a beginning collector and was wondering what others though of this probably quite old idea: Goal: build a date/mintmark collection of the now relatively common coins: Jefferson, Roosevelt, Lincoln memorial, Washington, Eisenhower, Susan B, etc... Plan: Purchase us mint and proof year sets (likely from local dealers) and place them in Intercept shield albums, for earlier years for which no sets are available or expensive (i.e prior to 1960s/1950s) like the Jeffersons, Washingtons search for high grade coins individually Rationale: I have used the old approach of searching rolls from banks for quite some time, but it seems to take a lot of time and many of the coins I have collected are still of poorer circulated grade, not to mention lack of proof issues. Question: is this a smart way to build multiple modern collections at once? Will it be too expensive for what it is really worth? (for example I have priced the entire 1970-1979 mint and proof sets at 500-800 from dealer websites - including the small date lincoln and type I/II 1979); other thoughts... (i.e will I be purchasing sets that have been cherry-picked and have less desirable coins repackaged as the proof sets, will many of the mint sets show too much wear/greying from improper storage?); pitfalls I am not aware of... Thanks in advance for any advice -BB
Seems high to me. Did you see these guys? http://www.mintproducts.com/index.asp?PageAction=VIEWCATS&Category=214 http://www.mintproducts.com/index.asp?PageAction=VIEWCATS&Category=227
WELCOME TO THE FORUM. Lots of questions there. I suggest you first look into the USMints web site, get on thier mailing list. Purchase one Proof and one Uncirculated set each year. Don't waste money on an Album for those since eventually in the future you will have hundreds of them, hopefully. I started that a long, long time ago. Placed them in boxes and they are growing massively. Now I purchase about 10 to 15 sets of each every year and give many away for Christmas presents along with the latest version of the Red Book. As to collections of coins. I too collect as many different coins at one time when possible. I go to lots of coin shows, have gotten to know many dealers by simply talking to them. I've found that many dealers purchase collections from people, take the coins out and place in flips for sale at shows. They usually throw out the Albums. Several of these dealers have brought them to shows for me FREE rather than throwing them out. Any I don't want I give to someone I know that sells at flea markets. The ones I do want I just start collecting that coin. Now with well over 100 Whitman Albums I collect almost everything. I've found that I acquire my greatest amounts of coins from flea markets, garage/yard/estate sales. Followed by coin shows and then coin stores last. Never on the internet anymore. If you can find garage/yard/estate sales remember one thing. You have to ASK. People do not put coins out on tables at those. So you have to ASK.
Like Carl, I've gotten a lot of free albums. Like you want to do, I've been pulling apart Mint and Proof sets for several years now. Some of them have coins worth more as individuals than as a set. Very few have been ugly due to storage. After putting together Morgan and Walker sets I decided some time ago I just wanted to collect modern uncirculated U.S. coins with an emphasis on cameo proofs.
Thanks for the advice - I've been ordering mint and proof sets from the mint since about 2004 and have purchased the silver sets back to 1999, so I've started to get a shoe box or two full of the sets. I would sort of like to take them out and place them in nice folders like the intercept shield ones - but am worried it will just result in them becoming damaged/tarnished (espescially the silver proofs). Just think it would be nice to be able to pull a folder off the shelf and look at them than keep them buried in a box. That is why I started looking at the intercept shield folders they have this black plastic strip that is supposed to keep things from tarnishing/oxidizing/etc... Might be better in long run for me to just keep the sets together though and find a nice storage box.
Well I am also like you filling holes in modern series. i stick with coin albums with circulation coins only so I do not break up to many proof sets. I have gone the mint set route and found out there is a big difference in quality of coins from mint to proof sets. Last week I went through about 20 sets of 1974 mint sets at the Santa Clara coin show to find a set I liked. Even then the nickel was not that good and will not be used in my primary set. You should avoid buying them with out checking them out, of course unless from the mint. I would suggest as other have is to get used Dansco/Whitman albums from somewhere and have doubles so you can keep upgrading. Regarding the silver proof sets i would not break them up. Also consider buying a set that someone has started if it is not expensive and has several coins you need. Lots of options knowledge is important but keep in mind this is a hobby not an investment,
