What happens to your standards for a set as you near completion?

lkenefic

This is inspired by another thread about shifting focus to a new set or series when you're done... but what happens to your standards when "the end is in sight"?

I can see where some might get bored with the collection and just want to be "done". They'll loosen standards to complete the set, and move on. Whereas others actually slow down and get more directed for those last few coins... especially if they're the keys of a series or more difficult purchases for a Type Set.

I experienced a little of this as I was finishing up my 7070 Type Set. No offense to the Seated Liberty collectors in the crowd, but this particular album has a lot of them (15 of the 76 coins are Seated Liberty designs) and I was starting to experience a bit of fatigue. Instead of putting the set down for a while, I decided to finish it. A few things went into this decision... not the least of which was a healthy tax check to fund it. So, I did end up compromising on the last Seated Liberty Dollar (I went with a PCGS XF45 with a TV) instead of a mid-grade AU, but that allowed me to get a nice RE Capped Bust Half and a Seated Half to complete the set. Had I waited, it turns out I'd likely be paying substantially more for the SLD...

Also, this allowed me to redirect focus on Large Cents, which is more my passion...

Manifest_Destiny

I did that with my Seated Quarter set. I bought the best coins I could find to complete the set. Honestly though, I have more fun upgrading than filling holes. It's nice to have a complete set and spend time improving it.

Project Numismatics

As I progress through a set, I’ve found my standards usually increase because I’ve seen far more coins of the type and have developed a better sense of the best quality available. Unfortunately this seems to make the time to completion drag out even more but I am fine with that. It has also led to selling some of my early acquisitions (especially the common dates) after realizing that better is available.

Catbert

I've found patience is hard at all stages of completion. Holding to one's standard is hard. That's why it is helpful to have some other unrelated coin collecting projects along the way and reading periodicals and visiting here!

coinbuf

The temptation to just get that last coin can be strong, but so far I have managed to stay the course and not compromise. Usually, I have a few sets either a series or type that I'm also working on so I just keep looking for that last coin while putting more focus on another set.

Bolo

Usually the last few coins of a set I put together are the most expensive, so that forces me to be patient. I have lots of open sets...

TheRaven

I find I get more stringent as I go along.

coinkat

Depends on the dates needed, the surviving population and my point of reference as to how often the coins are seen and what they look like... Standards can be the other guy's problem depending on the order one acquires coins within the set.

NeophyteNumismatist

I don't collect coins in a single grade. For half cents (where I spend most time), I set grade ranges by type. I have lower standards for the key coins in the series, but this was all done upfront based on pricing the best coins I thought I can afford. I write all my goals down (not just in coins, but literally all my goals). I set a monthly budget, and start chipping away.

I have ten coins left to go in my "major variety" series, with 6 being very difficult and 4 being common. I try to balance buying common and tougher coins to allow myself to eat the elephant a bite at a time. The good news is that I will feel some benchmark accomplishments along the way as the Classic Heads, Draped Busts, and Cap & Pole subsets are completed. I hope that I am able to hold my standards in the end. It will boil down to availability and affordability.

gumby1234

Well the terms I set for my Roosevelt dime set was nothing under a MS67 so I stuck with that.

WCC

My standards won't change. I'm nowhere near there on mine. The only standard I have is that I don't buy coins I do not like. The quality, eye appeal, and grade range will be all over the place, if it's ever finished. It's mostly higher or better circulated quality now, but I have a low pct of "details" coins and a few lower grades too.

Tramp

I sort of compromised on my MS-64 Morgan CC dollar set with an 1889-CC MS-62, which is a beauty in itself and possibly under graded. No regrets; maybe it's a good step to upgrading that one sometime in the future.

My Lincoln cent collection 1909 - current date; grade MS-64 in RD or RD/RB. I've stayed true but again I find myself down to the last one and ît's the most pricy and difficult one to land; 1922 no D. I've considered even a MS-63 BN with great eye appeal and hints/traces of red, but couldn't pull the trigger because I really didn't want to lower the goal post even if it was a 63 BN. So, I'll just keep looking for that illusive one while saving the pile of dough for the future exchange.

Starting a Merc set in PCGS grades MS-63/64 FB will simply have to wait.

@Bolo mentioned patience.

FlyingAl

They get tighter for me. I see more coins and I see better ones along the way, and therefore am more willing to swap one or two coins. My sets are never really complete, I think I'll always be upgrading them.

ProofCollection

I'm not sure a set is ever done. How do you define that? Of course it's different for everyone but I can't imagine when I'll be done with my sets, with the exception of modern sets which can all be MS70 or PR70 and no where to go from there.

But with my Morgan set there will always be budget limitations keeping me from getting the coins I'd truly like to have. So the approach I take is to buy the best coin I can for now, with urgency to fill every slot, but in many cases they are just slot fillers until I can find or afford a coin I'll be happy with. Even then, as and if my economic condition continues to improve, someday most coins will be candidates for upgrade.

Mr_Spud

I tend to want the final ones to match the others in the set and I try to limit the first ones I get with the objective of getting the final ones with a similar grade and look (plus or minus a grade or 2). It’s the main reason I rarely buy MS graded slabbed coins and why I have so many AU58s.

lkenefic

I like my Type Set and after three times of starting it, I finally finished it! My overall goal was to obtain coins that lightly circulated... so mostly XF to AU coins. I did make a couple of compromises but I'm overall pleased with how it turned out and after 3 times, I was ready to be done looking at Type pieces and concentrate on a specific series. I'll definitely upgrade a couple of the coins over time, but my money (and interest) is mostly going towards early copper. My goal for this "set" ( it's more of a accumulation) is simply problem free coins... I'm concentrating on Middle Dates in VF to AU. I completed the Date Run and I'm now settling in to upgrades and getting on a more steady budget.

jacrispies

@lkenefic I was in the same place as you with my 7070. As a project that spanned a couple of years, my aim was VF-XF coins, no cleaning. I settled with some semi-attractive F/VF dollars to finish the set so I can focus on my capped bust half specialty. That was my only experience completing a set. It may take many decades years to finish a bust half set that I would be content with.

Barberian

I try to buy circulated SLHs that look original and nice for the grade for a Dansco, and hopefully will straight grade when it comes time. Grades range from Fair to AU58 and include a nice, chopmarked 57- S purchased for peanuts after going long for an EF40 57-S and still getting picked off. I gave up on having a nice matching set long ago, so my collection is visually diverse as well. Grades are less important to me than the look of the coin. Registry warriors will love me.

A smart strategy for finishing a set is to purchase the key and semi-key coins early. I've tried to purchase the semi-keys when I encountered a nice, raw example. Unfortunately, nice, raw coins, particularly scarce dates, are not as common now on eBay as they were 15 years ago when I could score an original 1840-(O), 1856-S, 1846-O TD, or a 74-CC for a nice price. Lots of risky purchases turned out well for me early on.

I now purchase more TP graded coins as SLHs have increased in value, and my better raw coins in terms of value are being slabbed for resale. It's too bad as I love the look of a Dansco full of SLHs. It's also where I've dealt with some disappointment, most of it being my fault. I've allowed myself to be sucked into an Everyman coin auction because they were going to close at ridiculously low levels. I put trust in a sticker company that the coins would be nice for the grade, and they weren't, IMO. One was disgusting and I'm buried with it. Worst purchase I've ever made, and I pulled a "Karen" and informed them with photos that I will never buy coins with their sticker sight unseen again. However, it was MY FAULT to put my trust in others for any coin I haven't seen in hand. I thought I learned that lesson long ago. I've returned several other TPG coins that I simply don't like because I've become sensitized to, and overly critical of hairlining and corrosion. I have 4-5 more tough coins to go and they will be purchased at large shows or from dealers I trust.

So, my approach is to finish up with the nicest circulated coins I could afford (except for the low mintage '79-'90 coins where I want the nicest, lowest grade coin I can find because they're condition rarities), but that hasn't been easy or pleasant so far. I need to relax and act smarter, more disciplined and patient now. In the meantime, I've been starting other sets like Newfoundland halves, die marriages for select SLH dates, circulated classic commemoratives, type coins for 7070, and Canadian halves and dollars.

lermish

@Barberian any chance you can post a pic of that chopped 57-S?

Barberian

Here you go. A WB3 "Blundered date." The coin in hand is nicer with darker fields producing more circulated cameo contrast than the seller's photos indicate (which is refreshing these days).

ricko

Due to a confluence of life events, back in the early 2K's, I did compromise on a set I built, and for the last coin (a key as well), I grabbed a lower grade slabbed coin. Still have it and the set. Radical life changes as well, and all worked out. Probably will keep it as it is, have grown to like that coin over the ensuing years anyway. Cheers, RickO

lkenefic

@Barberian said:
I try to buy circulated SLHs that look original and nice for the grade for a Dansco, and hopefully will straight grade when it comes time. Grades range from Fair to AU58 and include a nice, chopmarked 57- S purchased for peanuts after going long for an EF40 57-S and still getting picked off. I gave up on having a nice matching set long ago, so my collection is visually diverse as well. Grades are less important to me than the look of the coin. Registry warriors will love me.

A smart strategy for finishing a set is to purchase the key and semi-key coins early. I've tried to purchase the semi-keys when I encountered a nice, raw example. Unfortunately, nice, raw coins, particularly scarce dates, are not as common now on eBay as they were 15 years ago when I could score an original 1840-(O), 1856-S, 1846-O TD, or a 74-CC for a nice price. Lots of risky purchases turned out well for me early on.

I now purchase more TP graded coins as SLHs have increased in value, and my better raw coins in terms of value are being slabbed for resale. It's too bad as I love the look of a Dansco full of SLHs. It's also where I've dealt with some disappointment, most of it being my fault. I've allowed myself to be sucked into an Everyman coin auction because they were going to close at ridiculously low levels. I put trust in a sticker company that the coins would be nice for the grade, and they weren't, IMO. One was disgusting and I'm buried with it. Worst purchase I've ever made, and I pulled a "Karen" and informed them with photos that I will never buy coins with their sticker sight unseen again. However, it was MY FAULT to put my trust in others for any coin I haven't seen in hand. I thought I learned that lesson long ago. I've returned several other TPG coins that I simply don't like because I've become sensitized to, and overly critical of hairlining and corrosion. I have 4-5 more tough coins to go and they will be purchased at large shows or from dealers I trust.

So, my approach is to finish up with the nicest circulated coins I could afford (except for the low mintage '79-'90 coins where I want the nicest, lowest grade coin I can find because they're condition rarities), but that hasn't been easy or pleasant so far. I need to relax and act smarter, more disciplined and patient now. In the meantime, I've been starting other sets like Newfoundland halves, die marriages for select SLH dates, circulated classic commemoratives, type coins for 7070, and Canadian halves and dollars.

Your SLH set sound much like my approach to LC's. My set runs from G4-details to an ex-ANACS MS61 piece that Tom Reynolds graded AU58+. The great majority would likely straight grade and some were purchased raw (cracked from straight-graded holders). My collecting goal early on was to buy problem free coins. There are scads of LCs on ebay that are corroded with numerous problems, but finding solid VF-XF-AU pieces has gotten much more difficult over the years and nice pieces bring out strong bidders.

I think the issue I had at the end of my 7070 Type Set was attributable to "collector fatigue" if there's such a thing. This is a set that literally took me almost 20 years to finish... Longer if the coins I collected when I was a kid (and are in this set) are included. Life intervenes sometimes and i had to sell off the second attempt when i was just a couple of coins away from completion. The silver lining was that I sold most at a profit, and I learned a lot about grading and market acceptability for the coins that didn't. The last push to complete that set, over about 3 years, happened at the last Baltimore show... I was shopping for SLDs with Motto in the AU50-55 range and not having a whole lot of luck finding something in my price range... priced at Price Guide +20% or more in most cases. So, I shifted my attention to the two other coins I needed... RE CBH and SLH with Motto. As it turned out, I found a nice XF45 SLH at Gary Fortin's table and a super nice RE in an old ANACS soapbox holder at AU50 (can't recall the dealer). I had also found a decent SLD, but it was more in the XF range. It was at this point that I had my little epiphany and realized I could afford all three coins if I compromised on the SLD. So I did...

I'm glad I finally finished that set. I like collecting Type coins, but filling all of the holes in the album got me to a convenient stopping point where I can concentrate my efforts on more of my collecting passion.

MASSU2

I find that as my set progresses my standards increase as I become more knowledgeable with the series. However, as I wind down the set at the end I tend to consider a drop in standards just to get it finished but that "drop" is still higher than my original standards when I started the set.

Tom147

Thought I was near complete with every coin in minimum grade of ms65. Had a few in ms66. My strategy was to continued to upgrade the now completed set in ms66. Long story short, I'm now at ms67 minimum with about 50% in 67+. Budget and pending retirement says I'm completed as any more upgrades are mid 4 figures.

lermish

@Barberian said:
Here you go. A WB3 "Blundered date." The coin in hand is nicer with darker fields producing more circulated cameo contrast than the seller's photos indicate (which is refreshing these days).

Thank you, very cool!!!