Where To Go With My Collection Now?
M4Madness
Posts: 355 ✭✭✭✭
I have essentially finished my circulated Carson City Morgan set (although I hope to downgrade the 1884-CC sometime.) I've narrowed my next adventure to one of two routes:
A type set of Carson City silver coins -- 10C, 20C, 25C, 50C, and hopefully the three $1 (Seated Liberty, Trade, and Morgan). Obviously just one coin of each denomination except dollar. I feel that this would be a good expansion of my current set.
A dollar type set starting with 1795 Flowing Hair and ending with the Sacagawea dollar. This set could get pretty pricey with the flowing hair and bust dollars.
Anyone have an opinion? I'll admit that I'm seriously leaning toward option #1.
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I think the only way to know, is to determine whether it's about the Dollar, or the CC that speaks to you.
And maybe the third option is that it's just about the Morgan's, in which case, tackle the O's.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I got into Morgan dollars strictly for the CC ones, and definitely have no desire for the task of collecting the other dates/mintmarks.
I'm intrigued with silver dollars up to and including the Peace dollar, but just unsure if I want to put the financial effort into a dollar type set. The flowing hair would definitely have to be very low grade, and it'd still be mid 4-figure. Lol!
My Carson City Morgan Registry Set
Sounds like #1 is the way to go. Also doable and fun.
I prefer option two.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I love early dollars, but if you aren't passionate about the series then don't sink money into them. You'll quickly regret putting $10k - $15k into coins that don't inspire you.
@M4Madness
You didn't say what grade level you would go for.
Have you considered the Dansco 7070 set at all?
Great set and it doesn't limit you, it has them all and is doable
Mike
My Indians
Danco Set
What's your budget?
Budget????
Whats that????
Mike
My Indians
Danco Set
I prefer option two, you could include seated and trade dollars from the CC mint.
Option #1 would fit with your CC dollars. Why not also add in circulated CC gold?
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
That was also my thought but CC gold is expensive. The least expensive CC gold coin is the 1891-CC G$5 and would nicely represent the CC gold coin series.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If option #1 (CC), I'd probably strive for XF45. If doing the dollar type set, I'd have to settle for a lot of G4-G8. LMAO!
A 7070 set would be a huge under taking, especially considering that I want all of my coins encapsulated. And I'd have a bunch of super worn coins. Lol!
As much as I'd love to add CC gold into the mix, that would definitely take big money. I know of a source right now for probably every denomination and year in XF45 CAC ready to buy, but I can't put my life savings into it. Lol! I'm 10 years from retirement and really feel that I'm under-prepared as it is.
My Carson City Morgan Registry Set
Makes sense @M4Madness I don't know the Dollar series and didn't realize you could get nice Flowing Hair and Capped Bust Dollars for under $2500 each.
Enjoy the process of locating great coins to add to which ever set you decide to pursue.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
If you're retiring in ten years, consider your exit strategy. Option #1 seems more liquid.
I'm with the second choice
This would be my advice. Choose an option that offers options. I am a potato chip kind of guy: just one is never enough.
Take dimes. you could add one but then also in the future add dimes that are more rare or less rare. You could add dimes that grade higher and lower. You could add a few top 100 varieties. This route has many possibilities. The same choices can be made using the other denominations too.
As far as I can tell your focus has been on Carson City coins and all of these options would work. James
A Centennial set using CC types is a cool set. I put one together adding in a Centennial Barber medal for good measure. Also the Little Bighorn year.
PS I did omit the 20c.
Mike, I wish that I could hit the lol button several more times for this response. 😉😉😏
Kennedys are my quest...
I like your option #2 but end with real silver dollars that being a silver Ike.
Only you know what speaks to you best, you can view option #1 and #2 at a show and decide then?
Wayne
It seems that when I do find a coin I always find a way..........
@M4Madness
First things first. If you are 10 years from retirement, I hope you have a 401k where you work and max it out! Then also add what you can into a Roth IRA. Coins come 2nd, you need to build your retirement fund 1st
Mike
My Indians
Danco Set
The most that can be contributed into a 401(k) annually is $69K, so no way I'll ever get anywhere near that. Lol!
My Carson City Morgan Registry Set
WOW, things have changed since I retired............ 12 years ago now
Do your best, trust me, you'll be a lot better off in the long run
Also
Just take a look at the Dansco 7070 set, there are 73 coins in the set (no gold set) about 40 of them are under $200 in the highest grade. It's really a fun set to put together,
Good luck but I'm rooting for the 7070 set
Mike
My Indians
Danco Set
Why yes you do! Lol
Wayne
Kennedys are my quest...
I would go with a dollar type set.
Either is a great way to go, but your first option ties in the rest of the set better.
For fun sometimes I write a series name down on paper.
Draw circles around
Generalist collector
Specialist (1878 VAM's for example)
Type Collector
Popular series
Varieties
How many of these circles intersect ?
The more crossover, the more liquid and the more likely not to get burned financially.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Does this help...
I cannot, of course, begin to opine intelligently about what you should collect.
But I have a bit of experience collecting coins, and I have found (as my albums filled) that what keeps me interested now is finding individual coins that have a story to tell that I find compelling. It could be a key date (e.g., the only coins I have bought this year are an 1893-S Morgan, and an upgrade of a 1914-D Lincoln cent to replace one I had that I didn't like).
I got that idea when I posted here a couple of years ago looking for guidance on a "box of 20" I was considering. A couple of people suggested not just collecting for the sake of collecting (as I now think of filling out a pre-defined album), but researching for, and finding, coins that appeal to me. Among coins presently being considered are a Fugio cent and an 1861-O seated Liberty half dollar struck by the USA. I expect that I'll buy very few coins from now on, but that those that I buy will bring a great deal of pleasure.
I did a little research tonight, and if I do an XF45 Carson City type set, the Seated Liberty dollar is going to be the tough one financially, even with the cheapest year (1870). Definitely a lot of saving for that one! Lol!
My Carson City Morgan Registry Set
Lucky you, here in the commonwealth I am maxed at $30,500 annually and that includes the $7,500 over 50 catch-up.
I'd go with option 1 personally. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
69k is the max 401k contribution for a 401k in 2024. the 69k includes both employee and employer contributions.
The maximum you can contribute in 2024 is $30,500 (with $7500 catch up for over 50) The maximum you and your company can contribute is $69k
@tyler267 beat me to it.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
Have you considered doing a Dansco 7172? I recently started a new Dansco album. This one is a date set of Morgan's , Peace, Ike and SBA.
I already had a few, and will try to do this album in high grade. This will take about 2 years, but it should be fun to do.
Sorry for the out of order, I’m on my phone and I can’t get the pictures straight.
My current registry sets:
20th Century Type Set
Virtual DANSCO 7070
Slabbed IHC set - Missing the Anacs Slabbed coins
@M4Madness. I have a few suggestions of options for your type set.
One thing worth mentioning is that the type change from no arrows, with arrows and back to no arrows happens during this period. You could add coins with and without arrows from the same year and denomination.
At least with the dimes you could do both above wreath and below wreath options.
My favorite Seated Quarter the 1878-CC cancelled die falls in this set.
Seated Halves offer a large variety of different size and placed mintmarks.
You could look for any number of top 100 dime varieties.
You could check the Bugert books for rare die marriages.
no matter what you decide i hope you have good luck finding the coins you want. James
Option #1 for me.
Well, with this purchase, it's now obvious that I chose to pursue Option #1. LOL!
My Carson City Morgan Registry Set
Great choice in my opinion and a banger of a coin.
BUT
That coin will fit in the Dansco 7070 also
See what I did there.................................
Mike
My Indians
Danco Set
Yes it will. Maybe one day I expand on my expansion. LOL!
Thanks, johnny010!
My Carson City Morgan Registry Set
Nice! Great double dime pickup. It’s always fun to start a new set.
Nothing is as expensive as free money.
I like option 1.