Best way to make a Registry Set with limited funds?
SiriusBlack
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I'd like to do some sort of a Registry Set but I have limited funds. What is the best way to go about it. I can budget for around $50 a coin. Occasionally I might be able to spend more but for the most part I need to put a budget on this for the time being.
I really like the Indian Head pennies and it seems like maybe half of them could be found for that price range in MS60+ condition. I completely understand that I'm going to have to drop my quality for some of them because I will never be able to afford them in the same condition. I can't spend thousands on a coin now or in the near future. If I strike it rich in the future, then hey I can swap out coins for higher grade at a later date but for now do you think this is a good way to go about it? Am I being realistic?
I would love to see my name on the website someday listed with my registry set. I doubt I'll ever crack the top 100 for the Indian Pennies but who knows. It's a goal right! I'm just trying to find something more fun to do with coin collecting.
I'm relatively new to coin collecting. I started 4-5 years ago but there have been long breaks due to finances. I have a Littleton US Type Set that I'm working on and am about 3/4 complete. I also have a penny collection. The thing is, all of these are none cased coins of low quality. Nothing worth sending to PCGS to get graded as the costs to do that will far outweigh the quality and value of the actual coins. I want something different simply because since I'm not spending a lot to make these sets, there's no real excitement of the hunt for a coin. I can go to my local coin dealer and he's always got a dozen options to fill my slots. It's never a matter of do you have anything cool, it's more of a which should I buy first in these low conditions. I thought doing an actual registry set of indian heads will help me to narrow down my focus, give me something that's going to take more patience and hunting to find good pieces to put in it, and depending on grades, I might actually be able to complete the set sometime in my lifetime, recognizing that there will be some couple hundred dollar coins and even a few in the thousands if I want to spend that high and have the means in the future.
Am I on the right track? Do you have any other recommendations or thoughts that I am not taking into account?
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Comments
Welcome to the boards!
The first thing I would do is continue reading these threads in both U.S. Coin forums. You will continue to learn from a lot of well knowledgeable coin dealers/collectors.
So you like the copper. There are sets on the registry called the Every Man sets. Those are for the working class stiffs like me (And you) that can't afford the really expensive coins. You need to just find what you like and gather as much info on those coins as possible. I would do that first.
Later, Paul.
First of all, what coins do you like? Classic, modern, certain designs? If you are on a tight budget and like building sets, I would focus on a smaller set. You could do a short set of Walking Liberty Halves (1941-47) or maybe something like Ike dollars in MS66 if you aren’t opposed to moderns. You could build a set of Silver Eagles in MS69. All of these could be done without holders for less, though. If the registry is really important to you and you want to be near the top, you could do a year set. Pick the year your parent or grandparent was born and build a great set of 10-15 coins. Make sure there aren’t any stoppers.
I would advise against an Everyman set for series where a large number of coins can be purchase cheaply in MS. This would include Indians, Lincolns, Buffalos, etc. It will be extremely difficult to find common dates in AU (because they’re worth <$20) and you will end up paying for the label.
Thanks, both for your replies! I hadn’t considered or realized you could do a year set other than the mint sets you can buy ready made. Can I find those on the registry or would that be more like my own personal made up set? I like the idea of doing my grandpa’s birth year, 1917.
I do love the Indian head pennies I think most of all types of coins. They’re my favorite. I realize I’d spend more than the value to send one in but I can buy ones others have already done. I know the coin on it own isn’t worth $40-50 but if that is the prevailing cost to buy one from a dealer, eBay, etc, doesn’t that make it the value? I admit, I don’t think I’d be doing penny’s for the future investment value, but more for my own pleasure of liking them and wanting to make the best official set I can. There are some coins in the set with value. The 1877, 1894-L, 1908-S and 1909-S, and all the color variants. I suppose the future increase in value of those could offset the purchase price of the run of the mill coins yes? Admittedly, some of those are well out of my reach, especially in high grades right now, but who knows in the future.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If you like Indian Cents that’s what you should collect. It is a decently sized set at 54 coins, so what would your total budget be? I think filling an album is your best bet but you should probably buy the 1877 and 1909-S slabbed (and crack them if you really want).
You can get most of the later dates in nice AU or even BU for $15-$20 and slabbed 64RB coins for around $100. Be patient with these as there are many of them! Look carefully at the diamonds around the neck for well struck examples.
Thanks, David. I think you are right. I have started a normal folder collection of lower grade inexpensive Indian heads. It’s been a lot of fun hunting for coins and I’ll keep doing that one for sure. I think I’ll start doing a nicer slabbed set in the AU/MS range for most of them to have a nicer set as well, best of both worlds! I didn’t know about the diamonds so thank you, I’ll keep an eye on that when looking at coins.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Welcome
-Explore and decide what you like;
-Consider a World Coin Registry set;
-If there are budgetary constraints, consider a smaller registry set in terms of the total number of coins needed and then a higher amount per coin is not really a stretch if you are seeking fewer of them. As an example, maybe a 2 Cents registry set might work given the numbers... Just a thought.
Experience the World through Numismatics...it's more than you can imagine.
That's an interesting idea. You're right, I'd have to save my money longer so I have more, but then I could spend $100-200 on one coin instead of 2-4 coins at $50 each. I'll explore that option as well, thank you!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Welcome! Take some time and look at a number of Registry categories. You might find a set to start.
I say buy the best and highest grade coin you can afford first and then work down. Most higher grade coins will not de-valuate. If you build a new more modern set, first grab a highest graded coin rated a one, two or so in population. If you can spend $50.00 a week or month, first spend say $200.00 on your first coin. Don't buy a first new year release without extent research on it. Many coins in a new release are not top grades later in the year.
There are no coins you have to have immediately. Research, research and research again. Look at as many auction sites to bid on coins as you can. Even if you must pay a "buyers fee" they could be your best price paid. I have purchased many coins listing at say $1800.00 and paid only $300.00. Don't get into a bidding war! Self restraint is your friend. Don't bid under the influence. Many options to get a certain coin will present themselves in time. This is the fun part of putting a set together. A number 1 set is the best but remember it to must be continually upgraded to remain #1. First shoot for a set that is in the top 20 and then work to make that set closer to a number 1 as you can in time. A word here is that many high grades sets are sold as time goes by and your set automatically moves to fill that ranking. What ever coin you want to buy, make sure that it is a PCGS certified coin! Verify it on PCGS website. Research the holders that they are "mint" undamaged both in holder and hologram as many coins are sold in holders that are. Never fail to ask for a detailed description. It is your money not theirs. Never buy from a dealer who does not accept returns. NEVER BUY A COIN FROM OVERSEAS! The biggest recommendation that I can give you is select a set you like and stay with that set. Don't buy non set coins because you like them. The money spent on other coins keeps you from buying a better coin in the set that you are trying to complete.
Best of luck-Wayne
Kennedys are my quest...
Original poster: What a well thought and literate post!
I would consider Every man sets....and take a look a foreign coins. The competition for sets there is not nearly as intense!
Best of luck!
Just remember, pick a main set, not sets! Many coins that you purchase can be used in multiple sets involving the same coins that you purchased. Look at all the sets that you can use the same coin and cert number to fill. I do Kennedy's and there are many sets that I can use the same coin in so I can have multiple sets that are highly ranked. As you upgrade your main set, the others sets will also upgrade. Each set begins with the first coin listed and may take years to "complete". The greatest part is that you can encourage a family member to become a part of collecting together creating a new collector in his or her generation. Hopefully they too will pass the set and tradition on.
Your set is for you to choose and maybe influenced by that grandchild, son or daughter. If you pass the set on you can be remembered and your heirs will have a fun time keeping it updated.
Again, best of luck and don't hesitate in starting a registry set.
Here are links to my Kennedy set / digital albums
This set is ranked 8th>
https://www.pcgs.com/SetRegistry/half-dollars/kennedy-half-dollars-major-sets/kennedy-half-dollars-basic-set-circulation-strikes-proof-1964-present/publishedset/162139
https://www.pcgs.com/SetRegistry/album/162139
This set is ranked 5th.
https://www.pcgs.com/SetRegistry/half-dollars/kennedy-half-dollars-major-sets/kennedy-half-dollars-major-varieties-circulation-strikes-1964-present/alltimeset/165583
https://www.pcgs.com/SetRegistry/album/165583
This set is ranked 4th.
https://www.pcgs.com/SetRegistry/half-dollars/kennedy-half-dollars-major-sets/kennedy-half-dollars-major-varieties-circulation-strikes-proof-1964-present/alltimeset/146564
https://www.pcgs.com/SetRegistry/album/146564
Wayne
Kennedys are my quest...
Thanks for your complement on my post.
Kennedys are my quest...
Patience.
Insert witicism here. [ xxx ]
Im currently working on a toned wheat back registry from 09-58. Thats 140 coins, 15 of which I have already acquired but the few I currently have set me back a bit and im 20 years old in college. From what I see and feel, the best is to not rush and buy when its the right piece and if its something that u may never see then go for it. Cost does come into play so if u want a nice piece for your set like how I want a piece with no spots and great color Im gonna be patient. I feel that in the end to create a great set patience and a good chunk of cash will be required.
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Thank you everyone for the responses! Patience seems to be the key. I think after looking over the different sets and options, that I am going to go with the Indian Head cents. They really are my favorite and there seems to be no shortage in years and grades! I hadn’t considered the tones before buy now I see I get options set there too!
I ordered the red book on Flying Eagles and Indian Head cents so that I can familiarize myself more on the details and learn. I want to take my time and make wise purchases!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
IHC and Flying Eagles will give you endless opportunity and boundless fun hunting.......within any budget and then some if you choose to
Thats exactly what I am hoping for! Not only are there the under $1 pocket change pieces for a little folder book, but I can go as high as I want when you start looking at rarer dates or even the colors of the coins. BN, RB, Red. It’s like endless fun for every budget!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
@SiriusBlack I see the cents registry is intriguing you but I'll just throw out another option for you or anyone who is not dead set on completing every set in their lifetimes - lol and Mr. Hansen et. al. excepted.
That's the U.S. Basic design set.
https://www.pcgs.com/SetRegistry/type-sets/design-type-sets/basic-u-s-coin-design-set-1792-present/951
For an avid collector it offers the chance to buy coins of many different denominations as the coin presents itself at shows, BST, auctions, ebay, coin shops etc.
I have sets I hope to complete but this set really gives me a great opportunity to get a frequent coin fix.
There are many coins that are probably out of reach for me but I get to study them and appreciate them all the time when I review my set.
"Inspiration exists, but it has to find you working" Pablo Picasso
Something like that is actually how I got started in collecting coins. I have a Littleton album where you can see the front and back of each coin that I have been slowly filling for 4-5 years now. Not a registry set obviously, but you're right, it's a very fun set to try and complete and it's let me learn about all sorts of different coins as I hunt them down!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
To get a top registry set with limited funds, I recommend the coin shops in Diagon Alley and loans from Gringott's Wizarding Bank.
On a more serious note,
If you like "Indian" cents, they are a good choice. Also fun to read their history (Wiki) as it probably was not an actual representation of an Indian on the design at all.
Someone mentioned if you buy moderns to start with low pops like one or two. If you do that, you will lose a lot of money and have few coins.
Modern coins always increase in pops, and once the big buyers have them, prices drop a lot as pops increase. I have a lot of modern coins and can assure you from my experience, NEVER buy the first few low pops of them for a high price. I would stick with older coins that do not suffer from this pop increase nearly as bad, and have more history to enjoy.
I think from what I read, a nice set of Indian cents would be a lot of fun for you and don't get caught up in the "get the best first", but enjoy the various dates, toning, quality as you go and get ones that you think are nice. Many of these can also be found in old antique shops just sitting in cups for $1 each and you can get a lot of fun looking for dates you need at very low cost.
The one year grandfather set is also a nice family idea. A 1916 set would probably be more expensive, vs 1917 that you mentioned.
My US Mint Commemorative Medal Set
Yay! Someone finally noted my name! I’m leery of loans from goblins, but the Diagon Alley shops sound like a great start, in addition to Hogsmeade.
I’m guessing Indian Head cents are not considered modern coinage compared to current Lincoln cents?
I’m discovering that collecting Indian Head Cent’s in lower grades is fun, but not to challenging. There seems to be an endless supply of them at most coin shops. I know a registry set will cost more, but the challenge might be more fun to me. The satisfaction of finding MS slabbed coins. Especially, as I acquire more and become more selective to the dates I need.
I’m trying to decide how to go about it. Do I spend $50 on MS 61BN coins or save my money until I can buy a nicer MS 63-65RB I know I won’t be able to reach certain dates and RD versions with out dropping serious money.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
I don't collect Indians (except a few $10 gold ones). Looking at the price guide, considering what you have said I would save for nice AU 50-58 coins of the tougher dates, and then MS63 or better of the more common dates. Personally I do not care for most MS60-61 coins I see, and like the look of a nice AU55-58 more. Because of the 1877, a complete set is not going to be an easy feat. Good luck.
Edited to say that "Modern coins" by most definitions are all those since 1964 when copper-nickel clad coins replaced silver starting in 1965, ending a 177 year tradition.
My US Mint Commemorative Medal Set
Ah ok. I thought that might be what you meant about modern.
That’s a good idea about doing MS63 in the common, plus AU for the harder dates. That’s where my mind has been think so I’m glad to hear you say that too. Maybe I’m starting to learn!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If you want the coins to be in slabs you will have very few AU common dates from which to choose. Stick to nice 63/64 RB coins with as much red as possible. There is a huge difference in quality at that level. Be patient!
Definitely gotta work on that patience thing!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
Things to consider, not necessarily in any particular order…..
Don’t think of your collection as an investment, if it ends up working out that way good for
you. I have coins that I liked and purchased in the 1970s that I couldn’t sell for what I paid. I
still like “most” of them. On the other hand I have some that I could sell for 20 to 30 times
what I paid
A low grade, low price, common coin will always be a low grade, low price, common coin so
don’t jump on one you don’t like just because it is available at the time. Another that you’ll
like will come along eventually
A registry set doesn’t have to be competitive, it can just be a place to have fun with and post
your finds so they can be seen by yourself and others without a trip to the bank
Don’t get sucked in by US Mint marketing. Most new issues have huge mintages relatively
speaking; tons of them will get certified and with rare exceptions will be available eventually
for less than the issue price. An exception might be something that really, really, really
appeals to you
If you can only afford to spend $50 a week or a month you don’t have to buy something
every week or month. Skip a cycle or two and save up for that $100 or $150 coin.
I could go on but I didn’t want you to spend all your money before you saw this list
These are my opinions, no warranty expressed or implied.
it's crackers to slip a rozzer the dropsy in snide
Thanks, @tommy44 your point about a low grade low price common coin will always be that way is a good point. I started out my collecting buying that kind of thing for my type set. I was able to get my set 3/4 done in a year or so even on a limited budget, but now that I look at all the coins, while there are a few nice ones, most of them don't mean much and will never been worth much. I didn't start it to make money, and really even a set registry of indian's won't be done to make money, but I would assume that higher quality coins will at the least retain their value better and be easier to sell later. I'd imagine a whole type set of G-F raw common date coins won't ever be on anyone's radar to buy if I wanted to sell.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
I haven't read the responses, but you might consider doing a Lincoln short set from 1934 to 1958. You can get all but a few in MS66RD in your budget range of under $50 per coin. On those, you could drop down to a 65RD. ....You can build a stunning set if you focus on eye appeal.
David
That could be a nice idea to look into as well. Lower number to find would be nice, but I'm sure the increase in finding MS66RD would also increase the difficulty in locating them. Cool idea though!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
All of them can be found in 66 without much difficulty. Since you will be building the set over time, finding all of them will not be a problem. If you were going mostly 67's, well, that's a severe challenge. The 35-S would be the toughest. On that one, you'd probably want a 65RD. It would still be $85-$100 for a 35-S in 65RD. A 34-D would also be high in 66RD, but a 65RD is just over $50.
I have now taken the time to read over the other posts. The best advice I saw among the posts was stated by several posters.... find what you like, and collect that. My suggestion on the Lincolns is admittedly bias because that is my passion. I just noticed that it fit within your budget and would end in a beautiful collection.
All the best,
David
@LincolnCentMan That makes sense though. Cents are my favorite. I prefer Indians over Lincoln’s, but just barely!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If you love Indian Head cents, collect those. Don’t succomb to the pressure of the registry set game. Honestly, at $50 per coin you will eventually get frustrated because you can’t compete with the folks with more money. So choose not to compete.
I assume you are not very old. At some point in your life your budget will match your registry set goals. For now enjoy the coins not the plastic.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
@savitale I'll be 39 next month so that seems old to me but I guess many members would disagree
I was thinking that if I bumped my budget up to $150-200 and only bought a couple coins a year, I'd have better options, but as I look I realize that that only applies to a hand full of dates. I can get some really nice MS64BN coins in that price range, but only about 10 dates, then they jump up to $500+ which means I'd need to drop down my quality. It's a tough decision that I haven't really come up with an answer yet. I bought one MS-61 coin just to get started, but already I'm realizing that I'm not super fond of the look, which should have been my first requirement! I'm getting to hung up on grade numbers and not looking at what the coin actually looks like. If I find a pretty AU coin that I like, it would be better to spend the money on that, rather than another coin that I don't find appealing, but has an MS grading instead.
I discovered that PCGS does have a basic Toned set that gives + points for BN grade and deductions for RD. That seems like a much better option to me since I can't compete with the big boys in RD coins anyway. Plus I happen to like the BN colors better anyway. I have no illusion that I'll ever crack the top 10 or even top 25 though really. Penny's are super popular and people have way deeper pockets than me!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
It’s good that you’re thinking this through now. I suspect many folks get halfway into a set and realize they can’t complete it in a satisfying way.
I understand the desire to see your collection up the on the PCGS registry page. Shrewd marketing on their part. At $50 per coin, you’re paying at least $30 for the plastic around a $20 coin. Doesn’t make much sense to me, but everyone should collect what they like.
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
I wouldn't discourage anyone from collecting what they want, but $50 a coin for a set of slabbed Indian Cents is not a realistic limit. Better to do the Indians as a raw set and do something else in slabs if you still want to play the registry game. FWIW, I'd suggest slabbed Franklin Half Dollars. It's a short set, you can do the whole thing in MS, and you probably won't have to pay much of a premium over "raw money" for the slabs.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@MrEureka I think you’re right bout the Indians. They’re awesome, but they jump in price significantly and quick I’ve noticed. Currently I’m playing with my Dansco Lincoln Cent albums. Much more budget friendly!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
What about the small cents non-proof type set in the registry? Only nine coins (one Flying Eagle, 3 Indians, and 5 Lincolns), but you could focus much more on quality over quantity while still getting coins you really like.
That makes a lot of sense too thank you!!!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
start with a small set - like birth year mint or proof set
then maybe a type set
then what you like best so far...
Agreed. I set my ambitions to high to start out with!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
For $50.00 a coin budget, you have some flexibility. I would look for a set that you like and that is not too big. Maybe Franklin's to start. For each that you buy that is less, set it aside for the Key date one. Good luck.
Best place to buy !
Bronze Associate member
@Kkathyl I've been working on filling a dansco book with Lincolns. Not a registry set, but lots of less expensive coins and I can get my feet wet and see how I like it. I do have a couple toned lincoln wheats that I really enjoy so I may sloooowly add to them as I come across reasonably priced ones that look nice. Thankfully, I'm a big fan of the BN look as opposed to the RD look which is great since they're typically less costly.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
How about a set of Franklin Halves.
There are only 35 and most MS64's are under $50 unless they have full bell lines.
Short sets like the 2009 commemorative Lincolns or the Kennedy half sets 1964-1970. Also date sets like the Franklin 1948-1963 with 16 coins required.
Goin on this same vein of thought, I’m starting a little in a Small Cent type set since it’s less than 10 coins and I already have 3!
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
This is a good idea as well. I think I’m going to stop worrying so much about striving for registry set glory which my wallet will never allow, and just enjoy buying coins that speak to me. I live type sets so I started a Dansco 7070 registry set just so I’d have a spot to plug them into if applicable.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
At $50 per coin, you are going to be cherry picking raw coins or playing the crack out game. It would be easiest with moderns where original bank rolls occasionally show up.
I think you’re right. That’s a game I don’t want to chase right now.
Collector of randomness. Photographer at PCGS. Lover of Harry Potter.
If you're OK with a long ride, the Lincoln circulation strike date set is a good one. You can get a lot of wheats in MS66RD for under 50 bucks. Look for MS65 browns in pre 1940 coins and some early 1950s.
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Sorry if anyone has already said this, but use your imagination and try building a set that’s not already in the registry. For example, consider errors.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.