Type Set: 1st year vs highest grade common date

Rob9874

I realize my story isn't unique, but I'm getting back into collecting after a hiatus and I'm starting a PCGS 1st Year of Issue Type Set. As you can imagine, there are a few I won't be able to get, and many I'll have to get in lower grades to stay affordable. But the oldest date of a type seemed more interesting than a common later date.

However, I'm also drawn to the typical theme of a type set: getting the highest grade you can afford, which is usually a common date. I know there's no right answer, but I'm looking forward to hearing how my fellow type collectors approach their collections.

BillJones

As a collector who has completed a type set from the half cent, to dollar coin, gold coins and though to the classic commemorative coins, I think that the requirement to collect only the first year of issue is foolish unless you have unlimited funds. Collect the best coin you can afford within reason. Don’t restrict yourseft to the first year.

ChangeInHistory

Someday I'd like to expand my type set to include gold and maybe a few of the earlier coppers beyond the standard Dansco model. A side goal is to include all US Mints and/or some semi-key dates ---if that gives you any ideas.

winesteven

While my Type Sets are put together as @BillJones suggests just above, do what YOU like and enjoy. I can understand the pleasure of putting together a 1st Year Type Set. As for me, I get pleasure from having higher grade coins (almost always common dates) that truly show each coin at it’s virtual best.

To save money, MANY high grade type coins are less expensive in Proof than the same grade in MS, and the cherry on top is that they really look so much better as Proof!

Hydrant

Good for you, ROB9874. Keep on keeping on!

BryceM

If I ever had stupid ridiculous amounts of money, it would be fun to do a key-date only type set. First year of issue is a little interesting, but apart from that I'd rather stick with the literal concept of a nice example of the type of coin. For example, when it comes to Mercury dimes, the nicest coins are often 39-Ds. For a Morgan, it's hard to beat a nice 1881-S. Entire decades of Washington quarters and Buffalo nickels have dismal strikes.

In my type set I don't get too hung up on the prototypical "go-to" coin. It'e easy to find a nice 38-D Buffalo Nickel (it's actually harder to find one that isn't), but I chose a nice 1935 coin for that spot.

Your collection, your rules. Just have fun.

HoledandCreative

I prefer key dates, both obverse and reverse, plus mint marks. No all keys are available with the look I seek.

chesterb

I am a type collector and often look for the more scarce dates. Sure I can get a higher grade in a common date but those are easy to find. The scarce dates even if not MS are what I'm attracted to.

Rob9874

I've noticed that in many series, the first year offers the best grade I can afford anyway. Liberty Nickel 1883 No Cents & Barber Half 1892 are two examples, the first year is the cheapest. With Mercury Dimes, I'm probably going to max out the 1916 at MS66, so I may drop another $200 on a common MS67+FB.

BillJones

But then you have the Standing Liberty Quarter where the 1916 is wicked expensive and not as sharp and attractive as a high grade 1917 Type I.

There are more than enough expensive coins to buy even if you go the common date route. Most of the early gold types will cost you 5 or even 6 figures. Almost all of the early type coins are quite expensive if you buy higher grade pieces to in EF, or even VF or Fine for some them, to Mint State.

If you want to get silly there is a 1795 Heraldic Eagle $5 gold you could get. It has the first year date on it, but it was made years later and costs far more than one of the common dates. Like I said, if you have unlimited funds, you build a collection like that. I don’t, and most other collectors are in the same position.

BillJones

@winesteven said:
While my Type Sets are put together as @BillJones suggests just above, do what YOU like and enjoy. I can understand the pleasure of putting together a 1st Year Type Set. As for me, I get pleasure from having higher grade coins (almost always common dates) that truly show each coin at it’s virtual best.

To save money, MANY high grade type coins are less expensive in Proof than the same grade in MS, and the cherry on top is that they really look so much better as Proof!

I agree with the concept of buying Proof coins for type when they are available. They can be cheaper, and they provide a format that allows you to have an example of the design with the most sharpness and usually mirrored fields.

coinkat

Just something to contemplate... It's not about getting the highest grade but quality for the grade. There is a difference. And in a type set, nothing is more compelling than seeking coins that capture the finest for the grade instead of a higher grade that is mediocre

winesteven

@BillJones said:
I agree with the concept of buying Proof coins for type when they are available. They can be cheaper, and they provide a format that allows you to have an example of the design with the most sharpness and usually mirrored fields.

I had started my Basic U.S. Coin Design Set decades ago, but it wasn’t until around 2015 or so that I actually became aware of the concept that for many 19th Century coins, Proof coins were often much less expensive for the grade than MS, and had the other big benefit of much nicer eye appeal due to strike and mirrors. I found this out by looking online at the Registry set of a collector in Delray Beach, FL, seeing many of his coins were proof. What a gorgeous set he put together! Another “bonus” is that for Registry purposes, having a Proof coin with a CAM designation usually counts as a full extra grade point, at not much extra cost, and I believe we can agree that a Cameo appearance adds even more to the eye appeal of a coin!

winesteven

Another tip for people starting a Type Set - for coins that straddle the turn of the 20th Century (Indian Head Cents, Liberty nickels, the three Barber coins, the four Gold Liberty coins), consider buying one each from the 20th Century rather than the 19th Century for your Type Set. Not only will the coins typically be less expensive, but you can then use those SAME coins in a separate 20th Century Type Set without having to buy a second coin!

ricko

Coin collections are personal, and to have the most enjoyment, one must pursue the coins that pleases aesthetically as well as cost and fit for the collection (i.e. date, mint, condition). You decide what you want to do.... Good luck. Cheers, RickO

Catbert

@coinkat said:
Just something to contemplate... It's not about getting the highest grade but quality for the grade. There is a difference. And in a type set, nothing is more compelling than seeking coins that capture the finest for the grade instead of a higher grade that is mediocre

This, this, this! Couldn’t have said it better.

topstuf

Look at lots of coins until you find one that screams it's one you want. Then buy it.

Drizzt

Last year of issue type set....

SanctionII

For those series which are no longer being produced you can choose coins for your type set that are dated the half way point in the series (i.e. 1925 for the buffalo nickel)

topstuf

Full date set of each type.

SimpleCollector

Eye appeal and coins that make you smile...you will be better off in the long run

Grade -when I did my non gold type set, I started with trying to get best grade I could afford, but sometimes I would end up with coins that while they were technically correct, were not appealing to me (half of the buying was from internet dealers with their pics)——also, as I went along, I realized I liked The look of many coins in a vf/xf grAdd better then higher grades

Budget - even if you can afford a really nice coin, how much of your budget does it take up...many of us when we restart, want to be on a certain cadence in buying coins, maybe 1 a month...while that works well filling the easy slots, quickly the budget or needed coins become much harder

Then lastly, what is the look you want for the set, some people all want similar graded coins, some want all toned coins, some want nice even / grayed coins, some want crusty coins

And inevitably, your views will evolve...if they do, sell a coin and learn from the process..

Lastly, be patient...most will say that the hunt is the funnest part...when you finally find the right coin, at the right price, and it makes you smile, the reward is soooo much better than just filling a slot.

Zoins

I would go for best eye appeal.

oldabeintx

I collect type only, I have had fun combining with birth years of family members or other significant years. My dad was born in 1912 so that takes care of Barber and 4 gold coins. I try to get both a nice MS and a nice proof when I can afford them. I've added an example for each mint, using Liberty $5 gold. Before the Civil War the set looks like the best I can afford, no year games (so far). The key is to pick your theme or themes early. I wasted some dough when I switched my Barbers over to my dad's birth year, for example. Of course it's all fun whichever way you go, but I would suggest some theme beyond random dates as it adds to the thrill of the hunt for common type.

Rob9874

I agree with best eye appeal for the grade. I love the thrill of the hunt of finding the best looking coin in my budget. I may not stick to the first year theme for the long term. Was just trying to find something to make it more interesting than common 1940's Mercurys and 1950's Lincolns. I don't have an unlimited budget, so I likely wouldn't finish that set anyway. Love the discussion though!

Baley

I like a lot of variety in my 1793-2000 type set. The point for me is that they're all different. And I like them to be in different conditions and holders too, which shows the effects of circulation to various degrees, and also makes the earlier coins both less expensive as well as "look old" from plenty of actual spending activity over decades when the Country was very young.

While I certainly respect the cost and uniform appearance of a solid, untoned pcgs/cac type set all in the same generation ms65 slabs, it's not for me. I like to have all the grades from fair to proof, all the major tpg holders and quite a few unusual ones. I like fresh uncs and all kinds of toning. Hell, I even have all the major kinds of Problem coins in my collection, which were bargains at the prices paid, since they were very fair net-graded.

As far as dates, same thing, there are 1st year (sometimes there's no choice, 1883 lib and 1913 buff nickels, etc.) Sometimes last year or overlapping years (1883 nickels again) sometimes family birth years, sometimes historically interesting years, the list goes on..

There's always a reason for the choice, but it's rarely the same reason.

Catbert

@Rob9874 said:
I agree with best eye appeal for the grade. I love the thrill of the hunt of finding the best looking coin in my budget. I may not stick to the first year theme for the long term. Was just trying to find something to make it more interesting than common 1940's Mercurys and 1950's Lincolns. I don't have an unlimited budget, so I likely wouldn't finish that set anyway. Love the discussion though!

Those common coins you reference can be uncommon depending upon the coin chosen. For example, a common later date nicely toned Walking Liberty Half will stand out compared to the common white specimen. Call it relative rarity.

coinkat

My type set will remain a work in progress... It is housed in the older style Whitman blue bookshelf albums. Sort of funny... Not long ago I came across another Whitman Album set... Except it was even older... No Kennedy Half but it did have Lincoln Cent 1959. Hard to believe how old these are now. I doubt I will ever complete the set but if I do great... If not... Fine. I am pleased with what I own or have owned and the enjoyment of collecting in general.

csdot

When I picked up the hobby again with my kids, I started collecting type coins in a Dansco 7070 type set album. The process of buying raw and placing the coins in a physical album gave me the opportunity to make mistakes in an affordable way, at a price that I might not have if I was buying certified. I learned a lot in that process, and it helped me better define the look of the coins I like (A lower grade coin with a nice luster appeals much more to me than a heavily dipped washed out coin in a higher grade holder).

I next did the NGC online registry type set. https://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=119576&Ranking=all

That was a great experience up until NGC changed the rules and said they would stop accepting PCGS slabbed coins only. I understand now that they have reversed that decision years later, but here is what I am doing now.

In the meantime I have shifted back to the book, but this time I am doing the slabbed coins instead of raw. To give the collection a heirloom quality, I purchased some nice Bosca leather three ring binders (@ $200 each) and use high quality Baseball Card collector pages (avoid the super cheap ones). These transparent 9 slot pages are thinner and more flexible, and more affordable than the hard plastic slabbed coin display pages some companies sell, plus you can access your slabbed coins individually rather than opening the whole page as I understand is required with the hard plastic sheets.

I also started to use the virtual albums on the PCGS registry. https://www.pcgs.com/setregistry/mysetregistry/album/143521

MFeld

It’s YOUR set. Do as you please and enjoy it.