Tips for U.S. Type collection?

I'm relatively new to coins having only dabbled over the years. The idea of compiling a U.S. type collection is immensely attractive due to the history and variety.

I'd basically be putting together a poor mans collection of mostly raw coins though I'm not opposed to slabbed. I'm just hoping to get the most eye appealing I can afford to create a visually interesting album.

Any tips would be appreciated. "If I knew then what I know now" types of posts are so helpful. I'll greatly accept any nuggets of advice.

 

Log in or Sign up to hide this ad.

Just set your standards for your type set coins.
Then be prepared to see those standards change as you get into it.
Type sets are addicting.

 

If I knew then what I knew now, I'd have used the process to force me to acquire a broad-based, generalized knowledge of US issues by concentrating on one at a time before purchasing it and then moving on to the next rather than trying to learn everything at once. That way, I'd be able to make a focused and informed decision on each, being qualified to determine when I was truly receiving value for money. Try very hard not to learn important things about the coin after you've bought it.

Which is what I've done, except for the part about actually buying the coins.

Compartmentalize. Don't worry about Quarters if you're looking at Large Cents. They're all available, and a good one will be there when you're ready.

And don't hesitate to vary my advice based on your own personal capabilities; if you can apply the process to three or four different issues simultaneously, have at it.

 

I agree with the previous posts. I am very slowly building a 19th century type set and used this site to get a checklist. What's nice about these lists is that you can pick a list according to the total amount you'd like to spend. The costs could also be lower as these lists are all VF and above. I'm going level 2 which is 18th century only, no gold and no proofs. I'm going with the highest grade I can afford and not collecting key dates (the 1877 Indian Head cent alone would blow my budget in VF).
As @SuperDave has mentioned, research is imperative to getting value out of your purchases. I'm currently beginning my reading adventures in Large and Half cents now.
All said you may want to go an entirely different direction with types. Some people collect Olympics coins, error coins or even coins with Cats on them...(no judgement on that one!).

Here is the site:
http://typesets.wikidot.com/18th-19th-century

 

if its a poor mans set stick to it that way, but if you want attractive coins you will be proud to show off then save up for better quality/ better grade coins. that's the beauty of coin collecting... you get to choose what grade coins you want and can afford.

 

I was told 40 years ago by an old timer then, collect the coin because you like the coin; never collect for the grade.

 

Get the tough coins first. Such as Seated$, Trade$, Caped busts, seated 1/5. These coins are going up in value. If you start with the easy stuff you will be sorry. Just what I wish I had done when I put my set together. Hope this helps. It's going to be incredibly aggravating yet somehow incredibly fun. Good luck!

 

Plan on going to a very large coin shows if for nothing else to learn about what is out there! That experience alone can change the way you buy coins.

 

Ain't that the truth. I was completely comfortable navigating Internet sales before seeing my first large show, and thought the variety was enormous until I sat down at the first table where a guy had 2,500 Large Cents in box after box of 2x2's....

On the other end of the scale, imagine deciding to buy a St. Gaudens and going to a place where you can physically put a thousand or so different examples under your loupe before choosing which one to buy. And talking about them to a dealer perfectly willing to educate you on the finer points of the issue before you do.

 

You are going to have a blast doing this. Enjoy!

 

Interesting point of view. Rarity not having anything to do with the upscaled value, no doubt!

 

A few things I feel are important.
Take your time and be really picky about each coin. Buy something pretty in the grade and price that fits your budget. Stay away from coins with problems or are just ugly, just to fill the hole. Nothing says a type set has to have everything. We get to decide what we wish to include in the set. Some may not wish to do all the modern stuff and others may not wish to go back in the Bust coinage. Type sets are fun.

 

it is ok to do that if you are ok with low grade coins, but down the road you might be kicking yourself for not getting higher graded coins. there's always time to upgrade each coin later.

 

OMG, I never really had an interest in coins. I have a box of old ones in the closet. I joined this group a long time ago because of one one coin, and now I am back. I have now bought books and I have a BIG COIN bug going! I have been reading forums, and you ALL are GREAT! THANK YOU!!

 

Welcome back!

 

Sounds like fun, I'm still working on my U.S. type set. It's a long journey and a big challenge. But an enjoyable one. Buy the best coins you can afford. Take your time with it. Don't hesitate to buy copies of rare or unattainable coins, such as colonials. Do your research and learn the whole type set as you go. Here's a link that will be helpful. Good luck and have fun! http://www.coinweek.com/us-type-coins/

 

There is low grade and low price and they don't always match up. Item by item figure out your budget and then take the time to buy a good one.

You may only be able to afford (or choose to) a VF or a VG. But get a GOOD VF or VG. One that is decently struck, has appropriate wear and minimal damage. If it's clean, get one that was cleaned a long time ago and has re-toned to an appropriate color. Not orange.

 

The wisdom and links shared here are fantastic. Thank you everyone for this information. I'm very excited to put it together just to enjoy the long journey and hold some history in my hands.

Where do you go to find a list of upcoming coin shows? I live in north Atlanta and assume there should be a few good ones near me on occasion.

 

If you buy raw, watch out on getting ripped off. There are a lot of raw problem coins for sale, and if you rely on your eye or the sellers estimate for grade and price, you will likely overpay. A coin might eye-ball for AU58, but if it was improperly cleaned in its past, it's value might be only 25% of guide. If I were doing what you were trying to do (with little experience), I would buy only PCGS slabbed coins (IMHO PCGS is the best at grading (but not perfect) ... NGC is 2nd, IMHO) -- at least then you are more assured of what the value actually is and can make better decisions. If you do go the PCGS route, get them TrueView photographed by PCGS and start a Registry as that's a nice way to enjoy and track your set. And being PCGS slabbed you have something that will hold it's value (fairly well, if you ever go to resell). When i dabbled in Currency Types back in 2010, I thought I could rely on the sellers grade and my own eye (classic overconfidence) and ended up with a collection with a lot of doctored and "professionally worked on / cleaned up" notes that were valued at only $5k when I spent $10k -- it was an expensive lesson but one that saved me tons more when I got back into coins. If you are like most of us, you will buy a few things that you later dont like as much, and wish to upgrade ... you might be in a rude awakening on the value of your old piece at that point.

However if you wanted to go really lowball and old school and wanted lower end types (AG, G, VG) and wanted to go raw for cheapness, that's fine too. There are many ways to collect and some collectors hate slabs. Just dont pay too much. Collect for enjoyment and not resale value. Occasionally try to sell something to learn a bit more about value and problem coins. It can be eye opening!

JMHO

 

Just Google "Atlanta Coin Shows"