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A Year Summary of Building a Registry Set from Scratch. George V Shillings 1911 - 1936 (X-Posted)

ClioClio Posts: 488 ✭✭✭✭✭

I thought some of you might enjoy a bit of my journey and wanted to share it here for those interested. I'm crossposting this from the world section of the forums because I felt it would fit here as well.

What's the special occasion you ask? Is it complete? nope. It's been 1 full year since I started it! Set start date was March 25th, 2022. So, I thought I would illustrate how building this kind of set went and what the result of a year is.

George V Shillings Circulation Strikes 1911 - 1936
26 Coins
3 Metal compositions
2 Types
&
26 squished lion faces

We will cover the pieces and their journey to me, and I will discuss the cost of the set but not the cost of each coin individually.

1911 - PCGS MS65+ (7 coins graded higher, 6 in 66 and 1 in 66+)

Common year as far as the set goes.
Number of coins purchased 2.
First coin was raw, and I sent to PCGS to grade. Graded MS65+. While it was in purgatory at PCGS I picked up a PCGS MS64 which came to me in a "lot" of two coins being auctioned. I quickly sold it and had no intention to keep it.
Do I plan to upgrade? No plans to, it checks all the boxes for me.

1912 - PCGS MS65 (5 coins graded higher, 1 in 65+, 3 in 66 and 1 in 66+)

Common year again.
Number of coins purchased 1.
Bought in an NGC MS66 Ex Mildenhall holder. This collection was previously sold by CNG cheap as chips. Wish I was paying attention.
Do I plan to upgrade? Potentially if one with more eye appeal shows up.

1913 - PCGS MS64 (8 graded higher all MS65)

"Key date" though in reality it doesn't feel correct. You'll see other examples tougher in high grade.
Number of coins purchased 2.
This example came to me in an NGC MS63 holder. I thought it was fairly graded as such but still managed to go up a point. I bought a second raw from a place in Australia. Managed to have to pay import fees oof. Think the raw example is a 64 and nicer than the other.
Do I plan to upgrade? Hopefully I just swap it for my raw example when it grades because I think it's lovely. If a 65 comes along one day maybe.

1914 - PCGS MS66 (tied for finest with 1 other.

Common year.
Number of coins purchased 2.
This example I bought raw out of the UK and sent to PCGS. Graded well. During my wait time I did buy a second briefly. An NGC MS63 with some nice toning in a slightly older holder. I was curious on the off chance if it was under graded because I do prefer toned to blast white, but it wasn't, and I sold it shortly after.
Do I plan to upgrade? It would have to have some insane eye appeal in a 65 holder. Unlikely.

1915 - PCGS MS65 (3 higher all MS66)

Common year.
Number of coins purchased 2.
This example I bought raw from a seller in Canada off some shady scans. Coin blew me away on arrival. Thought it was a lock 66 but not going to worry about it. Tons of eye appeal. The other example I bought raw and graded MS64 then sold it. That one was more for the price point than at having a chance in my set.
Do I plan to upgrade? No, checks all the boxes for me.

1916 - PCGS MS64 (9 higher, 5 in 65, 3 in 66, and 1 in 66+)

Common year.
Number of coins purchased 2.
This example I bought raw in the UK. It has lovely toning but somewhat rough friction on the surfaces and a scratch to boot. Will plan to upgrade. The very first one I purchase I graded MS65 at PCGS but sold it before this "set" officially started.
Do I plan to upgrade? Yes, this is a plentiful date and should be able to at least get a gem example. Hopefully something nicely toned.

1917 - PCGS MS64 (6 graded higher, 5 in 65 and 1 in 65+)

Common year. (let's be honest this set has no real stoppers, only if you want a full lion's face. GLHF)
Number of coins purchased 2.
This example I bought raw and graded as expected. The one other I purchased was in a NGC fatty graded MS63. It's nicely toned but I am not messing with the fatty. Will be sold as is.
Do I plan to upgrade? Yes, I think I should keep a lookout for Gem, or something nicely toned in a comparable grade.

1918 - None at the moment (Goal is MS65)

Common year.
Number of coins purchased 1.
I bought and graded one example that was in a MS64 ICCS holder. I probably could've kept it buy decided I should try for better considering how common this date is.
Do I plan to upgrade? there's no coin here, of course I need to upgrade!

1919 - PCGS MS65 (2 Graded higher, 1 in 65+ and 1 in 66)

Common year.
Number of coins purchased 2.
I bought and graded this example raw. I believe the original flip said "AU" on it. Part of a group of coins off eBay I got the 1917 in as well. The other coin is maybe a raw MS63 I got off eBay in the UK. Will be sold raw.
Do I plan to upgrade? No plan to. Again, given an especially attractive toner I would consider.

1920 - None (Goal is MS64)

Tough year.
Number of coins purchased 4.
First coin I returned and was purchased from a scan. Difficult to read grade from photos but it was like a cleaned and re-toned AU. Next raw example I bought graded MS62 as expected. This year is the first year these coins were struck in 50% silver and included a small amount of nickel unlike later years. They come horrifically struck with very flat faces. My purchase was motivated by buying a lion with a better looking snout but the coin itself wasn't particularly impressive and I chose to sell it. I generally try and sell examples rather than keep hole fillers to help avoid future "hole filler purchases". I have recently purchased two raw examples one I grade 62 and the other 63 so the search continues.
Do I plan to upgrade? Sigh.... yeah, I need something. Might take a while and I'm pretty impatient. Haha.

1921 - None (Goal is MS64)

Tough year.
Number of coins purchased 2.
Sadly, both coins I purchased trying to fill this hole I returned. Normally I try and just suck it up and get rid of the coin myself rather than getting blocked from a seller but was especially disappointed each time. I included some money in return to cover their shipping costs.
Do I plan to upgrade? Yeaaahhhp. Need one.

1922 - PCGS MS64 (2 Graded higher, both 65s)

Tough year.
Number of coins purchased 1.
This one I found in a 4-coin lot and managed to salvage and remove some nasty looking green growth. I unfortunately lost any of the originality in the process, but I still think it's a very attractive example for what's available that year.
Do I plan to upgrade? Nope. Same rules are usual apply as usual I would upgrade to a nice toner.

1923 - PCGS MS64+ (Tied with 1 other for top pop)

Not sure how difficult this year is but if it's a tougher year I just got lucky.
Number of coins purchased 1.
I bought this from an UK dealer out of a CGS 85 holder.
Do I plan to upgrade? Nope.

1924 - Raw example Est MS64

Very difficult year.
Number of coins purchased 2.
The first coin was one of my few returns. Seller blocked me which I suppose is fair. Second coin I was very pleased with but took a long time to find. I've viewed a lot of "BU" examples I wouldn't consider worthy of even a 62 holder. Going off just mintage it should be an easier fill, but more than mintage decides a coin's availability.
Do I plan to upgrade? Nope.

1925 - PCGS MS64

Difficult year.
Number of coins purchased 1.
I bought this from some scans off a UK dealers' website. It graded as expected from my in-hand estimate.
Do I plan to upgrade? Nope.

1926 - PCGS MS65 (top pop tied with 2 others)

Common year.
Number of coins purchased 3.
The first coin I purchased was potentially my worst purchase for the whole set. I was impatient and someone had an overpriced ugly example on eBay in a MS64 holder and I decided to buy it. Crack it. Sub it into a MS62 holder. Sell for pennies. The second coin I bought was a nice example that graded 64 but while in grading I found an example out of the UK. It just a few days ago came back graded MS65 and is the example seen here.
Do I plan to upgrade? Nope.

1927 - MS65+ (2 higher both 66)

Common year.
Number of coins purchased 2.
This is the coin I was chasing in a lot with the 1911 in 64 I mentioned earlier. I paid WAYY too much for it but it is a lovely coin. I've a second example raw I bought to take a look at I thought might be a shot 6. It's probably closer to a 65 with some dull luster, probably grade it and sell. I'll stick to my 65+.
Do I plan to upgrade? Nope

Worth noting that this year there's 2 types and I believe at some point I will like one of both but not in a rush.

1928 - MS66 (top pop tied with 2 others)

Common year.
Number of coins bought 3.
One of the raw examples ended up AU and passed it on. The other graded a motley MS64 but was in the same sub as this MS66 I bought raw from a seller in the UK. I figured it was a shot 5 and felt the 6 was a bit of a gift but not going to complain too much. The luster is really exceptional.
Do I plan to upgrade? Nope.

1929 - MS65 (1 higher in MS65+)

Common year.
Number of coins bought 1.
I actually owned this coin long before starting this set and sold it. I always suspected it was a 65 but struggled to find another in Gem and went back to the person I sold it to inquiring about it. They actually lost track of it but later found it and sold it back to me.
Do I plan to upgrade? Nope.

1930 - MS65 (Top pop tied with 4 others)

Key date.
Number of coins bought 1.
This was an odd coin when I got it in hand. the strike is a bit weak and makes for a strange flatness to it. Happy to have a high grade straight off for this one.
Do I plan to upgrade? Nope.

1931 - MS65 (1 higher in 66)

Common year.
Number of coins bought 1.
This was let's say the start of the set. A lovely, toned example I purchased from Pillars&Portraits. Very difficult to find these toned at all much less as nice as this on 50% silver.
Do I plan to upgrade? Nope.

1932 - None

Common year.
Number of coins bought 3.
I've actually ended up with a MS63 and two MS64s of this date, but I am determined I should be able to find a gem example.
Do I plan to upgrade? yeahp need a MS65.

1933 - MS65 (2 higher both in 66)

Common year.
Number of coins bought 3.
First, I bought a MS64 in an NGC fatty that was a bit dull for my liking then I bought a raw example I thought was a 64 and sent it in for grading. While it was grading, I found an already graded example being graded by ThreadGold another gentleman who collects these. I bought it and then low and behold the one I sent in for grading went MS65.
Do I plan to upgrade? Nope.

1934 - MS64 (top pop tied with 2 others)

Key Date.
Number of coins bought 2.
So the example I have in my set was an NGC MS65 ex Mildenhall collection and was the top pop at NGC. I crossed it to PCGS MS64. Meanwhile I found a raw example I bought and graded thinking I might as well to sell it guessing it was a MS63 and it graded MS64. So now it's tied though I think the other is much nicer.
Do I plan to upgrade? No I suspect there will be gem examples graded at some point but will take something special to unseat my current.

1935 - Raw example est MS64

Common year.
Number of coins bought 1.
Early on I passed on an NGC MS65 example of this year noting that it was fairly common in UNC, but I have spent all this time looking for another in GEM and struggled.
Do I plan to upgrade? Yes, I believe I should be able to find at least a 65.

1936 - MS65 (1 higher in 66)

Common year. Maybe the most common of this type?
Number of coins bought 2.
I bought an already graded MS64 from boardwalk numismatics that had lovely toning on it. However, there were a few heavy hits holding it back and ultimately, I decided to let it go for a lovely NGC MS65 I found. I cracked, subbed, and it came back MS65 as expected.
Do I plan to upgrade? Nope.

So, with that overview taken care of let's look at some more numbers.

Cost of active Inventory

$3,643

Average cost per coin = $151.80

Amount paid for duplicates.

$1,859

Average cost per coin = $97.84

Amount spent to-date on the set.

$5,502

Amount spent on grading fees.

$1,025

Note: I do calculate my grading fees into my coins cost so this isn't in addition to the figures above.

And for those interested here's a poorly organized album of coins that briefly passed through my collection as I worked on this set.

https://imgur.com/a/KAxwnJ6

Some of you might not be interested in this sort of thing. Chasing and grading lower value coins but it's my hobby. I have enjoyed it immensely and find the whole process rewarding. I don't feel my money has been wasted because just as in any hobby as long as it's spent enjoying yourself and you can afford it, I think it was a worthwhile investment.

Hope those that were able to slog through all of that have enjoyed it.

Here's a link to the set with just a couple updates baked in:

https://www.pcgs.com/setregistry/british-silver/british-shillings/british-george-v-shillings-date-set-circulation-strikes-1911-1936/imagegallery/291204

https://numismaticmuse.com/ My Web Gallery

The best collecting goals lie right on the border between the possible and the impossible. - Andy Lustig, "MrEureka"

Comments

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    Tom147Tom147 Posts: 1,431 ✭✭✭✭✭

    Nice set and a very nice read.

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    ClioClio Posts: 488 ✭✭✭✭✭

    @Tom147 said:
    Nice set and a very nice read.

    Thanks a bunch! I am glad you enjoyed it. I like this style of content so hoped others might get a kick out of it.

    https://numismaticmuse.com/ My Web Gallery

    The best collecting goals lie right on the border between the possible and the impossible. - Andy Lustig, "MrEureka"

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