I've changed my mind, again. Forget the Set Registry!

SiriusBlack

I’ve been asking a lot of questions on here and doing a lot of research about an Indian Head Cent set registry. I think I’ve come to the realistic conclusion that to do one in the quality I want, it will be to expensive for me to handle.

I got a lot of good advice from all of you about doing one but as I look at actual numbers and coins I’m realizing that while I could get some coins in the MS63-64 range in the $100-200 range, the vast majority of the coins I find appealing would cost much more. I can’t see myself being happy dropping grades to meet my finances, I’d be buying untoned, normal brown cents that wouldn’t excite me.

So I think my best option is to go back to the beginning with my Littleton Type Set album that started it all. It’s about 2/3 complete, but many of the coins are low grade $10 coins. When I started collecting coins I was more interested in filling holes fast, not being selective buying nice quality coins.

I think I can take my budget and buy some very nice coins to fill my album and replace the low quality ones as I go.

The main positive to this is I’ll be able to continue learning about all the cool coins I see, not just one specific type like the Indian head cent. I won’t get bored! Lots of options each visit o the local coin shops!

My main concern is buying raw coins since I’m new to grading. I know a lot of you recommended sticking to slabbed for now. I’ll have to rely somewhat on the dealer’s grades, but I do have some grading books that I’ll be able to reference, and they let me take photos so I can always get opinions here. Plus, I’m not spending $500 on a coin so if I am wrong on a grade, it will be a smaller hit and won’t break my wallet.

What are your thoughts on learning to buy raw coins and my over all plan?

For reference, my album is the Littleton Type Set that was identical to the Dansco 7070. It’s now discontinued but I like it because it has separate pages that show photos of the coins and give a brief history.

jmlanzaf

Personally, I would go with a smaller set or a type set. You are not going to get much pleasure out of looking at the $10 coins in the folder. You may get some pleasure from filling the holes - we're all a little OCD, aren't we? - but as soon as they are filled you will pretty much ignore them.

You could get one or two really nice common date IHC that are pretty. Add in a Flying eagle and a CN type and you've got the basics covered.

You could also do a short 20th century set of IHC's in nice UNC grades and stop there. Or add in a Flying Eagle and CN type to gowith the short set.

As much $10 junk as I sell, I shouldn't discourage people from doing it. But you probably won't be happy with an UNC 1908 cent next to a VG 1908-S and a Fair 1877.

Paradisefound

Continue filling those holes while advancing your knowledge but be careful purchasing some raws especially those expensive ones. Have fun

david3142

I think you are making the right choice. You can find nice AU and MS Indian cents raw that weren’t worth slabbing and would look great in an album. Be selective while you learn and post your coins here and get feedback.

Good luck! I look forward to seeing your progress.

sparky64

Good thoughts and you sound a lot like me.

I do both Type and a series ('32-'64 Washington Quarters).

My Dansco 7070 is 99% complete. Relatively inexpensive and a ton of fun.
Always looking for upgrades keeps you in the fight.
I also buy slabbed and raw Type on occasion of coins that really catch my interest like commems, etc.

As far as the Registry, I also realized after I started it that a few coins will not match most of the set. Due to the prices of a few keys.
I'm not happy about that but I have accepted it and will continue to slowly move along.

ChrisH821

I've got no interest in building a registry set either. Besides, I buy coins in all different TPGS holders, it would be quite an expense to get everything in PCGS plastic.

giorgio11

PCGS has an excellent Photograde-type website for all type coins in virtually all grades that can definitely be your friend. Good luck! The Registry is indeed an expensive game.

Kind regards,

George

david3142

I will add that when it comes time to buy the 09-S and 1877, get ones which are slabbed and crack them out if you wish (and don’t plan to sell or upgrade). I have an album of Buffalos but my 1918/7-D is in a PCGS holder and I’m not risking cracking that out. I have cracked out many others for the album which are worth less, though.

TwoSides2aCoin

Just love the hobby and acquiring what pleases YOU. Putting it out there for the world to see doesn't matter. The world doesn't care about what we love.

LindeDad

I like circulated coins myself, lets the limited budget player in the door.
Might want to look in the Everyman area, I did.

Walkerfan

I agree.

I'm buying some of the more inexpensive Walker duplicates, in PCGS plastic, but the others that I already have in NGC plastic will remain there and PCGS duplicates will not be purchased. Can't find coins as nice as those anymore, anyway. A lot of stuff is gradeflated and prices have gone up since I purchased many of them, too.

I don't care if I have a full set registry, either here or ATS; I just want a complete certified set of MS Walker coins and I am 96.92% complete in doing so.

Maybe, if I ever decide to sell; I will change my tune and cross them but, until then, I'm happy. I'm still a COIN collector after all.

@ChrisH821 said:
I've got no interest in building a registry set either. Besides, I buy coins in all different TPGS holders, it would be quite an expense to get everything in PCGS plastic.

SiriusBlack

Thank you everyone! It sounds like I'm making a reasonable choice. I guess there is no one size fits all way to go about these things. I think the important thing for me since I'm beginning is to not hole myself into one type of coin only that takes all my money and effort. Not a good way to learn and who knows, maybe I'll buy a few Mercury Dimes and fall in love with those instead. I'd hate to have $2000 invested in Indians a few years from now and then abandon them for my next idea.

1Mike1

Some do a box of 20. A little bit of everything and you can buy higher quality examples of cents, nickels, dimes, etc. and not have to worry about keeping up with the registry. When you want to rid yourself of one coin for another it doesn't become a huge task like it would to get rid of a whole registry set.

topstuf

I think album collecting will make a comeback.
There's only so much complication that a "collector" needs.

SiriusBlack

@topstuf Especially a new collector like me!

sparky64

The way I see it:
The Registry does not have to be for the world to see.
The Registry does not require you to be competitive.
The Registry does not force you to purchase higher grades for points.
The Registry does not have a deadline for completion.
The Registry does require a minimum grade.

Having a Registry set is no different than having an album other than it unfortunately has to be in a certain holder. But I like that particular holder.
I'm ok with being cannon fodder and following along with people like Hansen and Wondercoin as they build these amazing collections.

I've often read advice here by very experienced collectors, that one should try to choose a series to become an expert in. If not an expert, at least above average knowledge.

ricko

Coin collecting is a hobby for many of us. For some, it is a business. For the collectors, there are many different directions to pursue, coin denominations, precious metals, types, errors, grades, mint marks, VAM's etc., etc., etc.. Do what you want and enjoy they hobby. Your interests may change several times over your collecting years. Just have fun... Cheers, RickO

oih82w8

I prefer the Type Sets over series sets any day of the week and twice on payday Fridays. Why look at the same design, albeit the dates and mint mark changes, for decades when you can have a couple of the different design changes?

oldabeintx

Did this 20+ years ago. Didn't buy raw (other than lower value) but bought MS slabbed coins that had eye appeal. Cracked out everything and put them in an album. A few years ago sent them in for grading. One was downgraded (to AU) and a few graded higher, the rest kept the original grade. A lot less risk than buying raw, especially if you stick to coins that you like - IMO grading skill is not totally necessary for the average Joe if one buys graded coins that are pretty. Or, more costly, but just stick with stickered coins. Of course lower-value common coins, where there is little or no incentive to cheat may be cheaper and more fun to acquire raw. Note: not to say that a trusted dealer couldn't find nice raw coins for you, but the available supply of raw coins would be pretty limited above a certain threshold.

SiriusBlack

@sparky64 Good points, and exactly why I still like the idea of doing a Indian Head Cent registry set someday. I'm just not sure if now is the right time. I should explore and learn about more coins first I think. Of course nothing stopping me from purchasing a coin that would fit a registry set if I came across a beautiful coin I loved!

@ricko You're very right, I change my mind often, as evident by all the discussions I've posted in the last month! Having fun is they key word though!

@oih82w8 That's kinda where I am at. While I do really like the Indian Head Cent design, I keep getting drawn to other coins that I don't know much about. Probably better to explore a little bit of everything to get started with and learn about before limiting myself to just on kind.

@oldabeintx I hand't considered cracking out slabbed coins. I thought you tended to pay a premium for the slab, but I guess if the coin you find is worth the extra money, why not. As you say, it would be a good way for me to know I'm getting certain grade, or at least a close grade on that rare occurrence that it gets regraded on another attempt.

oih82w8

@SiriusBlack Well, while you have your Indian Set collection, pick the three types in the series, which are probably the ones in the Littleton/Dansco 7070; 1859 (No Shield on Reverse), CuNi (1860-64), and Copper (1864-1909) versions.

SiriusBlack

@oih82w8 Oh yea, they do have those slots. I've filled them, but again with low grade ones that didn't cost me much. I could definitely start by upgrading those to higher quality ones that would be nice to look at.