I Think I Figured Out How I Want To Collect.

Shane6596

I have a small amount of coins sourced now. Most are not great condition. Ive been reading all your posts and see some collect series, dates, types etc and try to fill with the best coins you can. I thought about doing that with large cents or morgans, but it didnt seem my thing.

I seem to like so many different types, i cant settle on any one. I love looking at all the different ones i have. Large Cents, 2 cent, 3 cent, half dime, IHC, seated liberty, flying eagle, Morgans...etc.

So, i think im going to collect just one from each in the best condition.

Starting at 1800 going to 1900. That seems to be the range i like most.

It will take time, ill budget up to around $3000 max for each one, should be able to get very good ones i like for way less. Ill avoid key dates, unless its in budget.

It will be like someone here doing the box of 20 thing. Ill do multiple boxes over time.
All will be in pcgs holders.

For example, ill track down an IHC i really like that speaks to me, (doesnt matter the year) buy it within my budget, then im done with IHC. Then ill move onto a large cent, capped bust half, trime...whatever and keep going.

It just seems this would satisfy my collecting so i can look at a very nice example of each one anytime i wanted.

Should keep me busy for awhile.

Thanks for reading.

Jeffnlu

You must have very deep pockets. Good luck.

DNADave

You’ll be able to do most a complete US type set with that budget. Including some nice gold. That’s about my range for a coin also but I’m going to stretch to about 5k for a small eagle early dollar.

Mr_Spud

You’re pretty much describing my main type set, only I had to stretch more for a few of them.

TomB

You will have a deep pool to choose from for quite a while. However, I'd imagine that at some point you will start to buy multiples of certain types because the coins are just too nice to walk away from, and I think it's a great thing to own multiples even if you just want to do a type set.

Good luck!

JWP

Go get a 19th and or a 20th century type coin album. This way you can try to collect 1 of each and still not completely break the bank. I have these albums and it is fun to collect them. Buy a nice album and enjoy your hunt.

jmlanzaf

That's a great way to collect.

Soon, however, you are going to find out that it is not 100% clear what "types" belong or don't belong. Then there's proof or just circulation strikes.

But it is a fairly liberating way to collect. You don't end up sinking a lot of money into a few keys like in series collecting. You can add varieties or not as you see fit. You get to make your own rules on what belongs or doesn't.

winesteven

The vast majority of my collecting pursuits has been putting together a Type Set. Here are some thoughts/suggestions:

1. Since you’ve indicated you’ll be buying coins graded and authenticated by PCGS (in my opinion a VERY smart move), if you’re looking for structure as I did, consider starting out by partaking in a few small PCGS Registry Type Sets. For example, they have a Basic Seated Liberty Type Set (7 coins required - Half Dime, Dime, 20-Cent Piece, Quarter, Half Dollar, Seated Dollar and Trade Dollar); a Basic Bust Type Set No Gold (also 7 coins required - Bust Half Cent, Bust Cent, Half Dime, Dime, Quarter, Half Dollar, and the budget buster Bust Dollar); and the Complete Barber Type Set (which is only three coins - Dime, Quarter, and Half Dollar). These 17 coins can get you started. (It was my suggestion to the PCGS registry several years ago to start those two “Basic” 7 coin sets for Seated and Bust coins. As my late wife used to remind me, if my arms were any longer, I could pat myself on the back, lol).
2. You can satisfy your comment of doing all 17 coins in the 1800’s, or you may decide to give yourself more flexibility by doing some of the Barber coins in the 1900’s.
3. I strongly suggest you DON’T focus (or care at all) about ranking! It doesn’t matter! Buy the coins for each slot at the price point that you’re comfortable with for that slot. Whatever rank you end up with is perfectly fine! Additionally, don’t get locked in to your self-imposed comment of roughly $3,000 per coin. You may find that with some of these you potentially can get a high grade, eye appealing coin for a lot less. For example, why pay double (or more) for a 66, if you can get an attractive 65 at less than half that?
4. Each of the three sets above allows for either Mint State coins or Proof coins, or a combination. I’ve found in many cases in somewhat higher grades a Proof coin is less expensive than a Mint State coin in the same grade. So not only can you save money (or get a higher grade) by using a Proof coin for a slot, but in my opinion the Proof coin typically has much nicer eye appeal than the same grade Mint State coin due to the stronger strike and watery mirrors typical of nice Proof coins. Additionally, the above three sets will give you a bonus point for a Proof coin with a Cameo designation equal to an extra grade level. For Registry purposes, this means a PR65CAM is treated the same as a PR66, but the 65CAM is typically less expensive. My Type Sets contain MANY Proof and Proof Cameo coins.
5. You mentioned above you would avoid key dates, which will then allow you to buy coins in higher grades for the slot. I went one step further with my sets, and chose to avoid coins in tougher/rarer dates that cost a lot more than the more common dates, even if they were not the key dates.
6. There’s no right or wrong with what you decide for the subjective choices above. Do what YOU want - it’s YOUR collection, not mine or anyone else’s!

Good luck, have fun, DON’T rush, DON’T settle. Happy Hunting!

Steve

skier07

I’ll add perhaps my unpopular two cents but based on your budget per coin I would only focus on coins with green stickers on the slab.

jmlanzaf

@skier07 said:
I’ll add perhaps my unpopular two cents but based on your budget per coin I would only focus on coins with green stickers on the slab.

Ruh-roh

calgolddiver

great advice from @winesteven and an excellent approach to your type set(s)
good luck with the quest !!

ricko

@Shane6596... That sounds like fun... Close to my collecting philosophy. My plan is to have no plan... Has worked well for me for many years now. I look at lots of coins, buy what I like and can afford - even stretch a bit from time to time. Not tied down to any format or requirements. It is a hobby, have fun. Cheers, RickO

Catbert

I sense your biggest challenge will be to not rush into buying decisions at this stage of your collecting journey. Money burns pockets……

Shane6596

Tons of great info, thanks.

My $3000 was a cap at this point. Ive seen some i already like for $500 in MS grades. Ive also seen 1 or 2 i REALLY like for over 3k. Ill start slow and be picky. I seem pacified by having a bunch of raw coins now to look at. Now i can go real slow and wait for that special one to come along.

I spent a couple hours looking last night and didnt find anything that i had to have. Im just looking at first quick impression, then i look deeper at scratches and dark spots and see if they are distracting to me. Its fun.

HillbillyCollector

$3000 cap really opens the door as to what’s available.
If interested, you can find nice Type One $20s around AU-53-55 w/CAC approval, if you could stretch just a little more.
Of course, it certainly would open up smaller denominations of all types of nice gold.
You might not be interested in gold, but if you are, you’ve set a budget to accumulate some!
Good luck in your collecting!

BillJones

You sound like a type collector. I’ve done that for many years.