Best way to make a Registry Set with limited funds?

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?

“I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

Comments

  • StoogeStooge Posts: 3,911 ✭✭✭✭

    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.
  • david3142david3142 Posts: 1,653 ✭✭✭✭✭

    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.

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

  • david3142david3142 Posts: 1,653 ✭✭✭✭✭
    edited June 28, 2018 7:25AM

    @SiriusBlack said:
    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.

    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.

  • SiriusBlackSiriusBlack Posts: 19 ✭✭
    edited June 28, 2018 8:13AM

    @david3142 said:
    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.

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

  • coinkatcoinkat Posts: 18,851 ✭✭✭✭

    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.

  • @coinkat said:
    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.

    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!

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

  • goldengolden Posts: 4,845 ✭✭✭✭

    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

  • 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

  • @TopoftheHill said:
    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!

    Thanks for your complement on my post.

  • mt_mslamt_msla Posts: 597 ✭✭✭
  • BeefCurry808BeefCurry808 Posts: 40 ✭✭✭

    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.

  • SiriusBlackSiriusBlack Posts: 19 ✭✭

    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!

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

  • ParadisefoundParadisefound Posts: 2,465 ✭✭✭✭✭

    IHC and Flying Eagles will give you endless opportunity and boundless fun hunting.......within any budget and then some if you choose to :)

  • @Paradisefound said:
    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!

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

  • SwampboySwampboy Posts: 10,427 ✭✭✭✭

    @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.

  • 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!

    @Swampboy said:
    @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.

    “I want you to listen to me very carefully, Harry. You're not a bad person. You're a very good person, who bad things have happened to. Besides, the world isn't split into good people and Death Eaters. We've all got both light and dark inside us. What matters is the part we choose to act on. That's who we really are.”

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