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Grade vs. Rarity: How Do You Choose the Perfect Coin for Your Set

johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

Hello again

I’ve been working on a date set and keep running into the conundrum of which coin to show when the set is “complete”. For my set, I’m working through Morgan’s in rattler holders which adds a layer of complexity, but my guess is many of you have had to decide between a lower grade more rare coin or a higher grade less rare coin for your sets at one point or another.

How do you decide what to incorporate into your date set when faced with this decision?

Comments

  • humanssuckhumanssuck Posts: 420 ✭✭✭✭✭

    If they're close grade wise and eye appeal, I'd go with the better date. If the more common coin blows the other one away with the way it looks, I'd use it.

  • CopperindianCopperindian Posts: 1,463 ✭✭✭✭✭

    If the lower grade has better eye appeal, I pick that one. The grades won’t be that far apart anyway, maybe by a + grade or a point. I’ll go with a rarity piece if it fills a slot but it can’t grade more than a point lower. Eye appeal matters less for one of those. Varieties go in if the set has such a slot.

    “The thrill of the hunt never gets old”

    PCGS Registry: Screaming Eagles
    Copperindian

    Retired sets: Soaring Eagles
    Copperindian

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    I’ll create a fake example

    1899-P: MS65 green CAC
    65 and higher population: 2000
    CAC population in 65: 300 with 400 higher

    1899-S: MS63 gold Cac
    63 and higher 1000
    Green CAC population in 63: 200 with 100 higher
    Gold CAC population: 5

    Better looking coin: 1899-P by a small margin.

  • lermishlermish Posts: 2,910 ✭✭✭✭✭

    My primary set is all scarce to rare and I often don't have a choice. I would rather have an ugly coin than an empty hole.

    But, for my type stuff/box of 20, assuming I like the coin, rarity RARITY RARITY

  • UncleJoeUncleJoe Posts: 2,536 ✭✭✭

    Of course, there is no right answer, it is a personal choice and depends on your objective for your collection. For me, I always go with the rarer choice within my budget.

    Joe.

  • oldabeintxoldabeintx Posts: 1,930 ✭✭✭✭✭

    Strictly a type guy, so I go for the better-preserved or the coin that best meets my aesthetic.

  • CopperindianCopperindian Posts: 1,463 ✭✭✭✭✭

    @johnny010 said:
    I’ll create a fake example

    1899-P: MS65 green CAC
    65 and higher population: 2000
    CAC population in 65: 300 with 400 higher

    1899-S: MS63 gold Cac
    63 and higher 1000
    Green CAC population in 63: 200 with 100 higher
    Gold CAC population: 5

    Better looking coin: 1899-P by a small margin.

    If I had this choice I would go with the 1899-S. Rarity trumps eye appeal in this case as there’s only a small margin difference on that score. There’s also an upgrade potential with the 99-S.

    “The thrill of the hunt never gets old”

    PCGS Registry: Screaming Eagles
    Copperindian

    Retired sets: Soaring Eagles
    Copperindian

  • ShaunBC5ShaunBC5 Posts: 1,727 ✭✭✭✭✭

    I go with the 99-S in your scenario. I have plenty of common and pretty coins. My favorites are usually the more scarce and interesting ones.

  • OAKSTAROAKSTAR Posts: 7,180 ✭✭✭✭✭

    @johnny010 said:
    Grade vs. Rarity: How Do You Choose the Perfect Coin for Your Set

    I'm not sure you will take anything of value away from this example here. Your conundrum seems a bit more complicated then mine.

    I'm pretty much an album guy. I wanted to built a complete Liberty Head Nickel set. My priorities were to have a consistent looking set of straight graded, full LIBERTY, problem free coins. I built the set around a broken out ANACS 1885 VF20. I could have upgraded several coins but I intentionally kept the grades low to match the look of the 1885.

    I hope that makes sense.

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • seduloussedulous Posts: 3,235 ✭✭✭✭✭

    My choice would be simply linked to "opportunity" cost. If I won't see another for 5 to 10 years, that weighs heavily in choice.

    A Barber Quartet is made up of Nickels, Dimes, Quarters, and Halves.

  • jmlanzafjmlanzaf Posts: 34,221 ✭✭✭✭✭

    I have to like it. Period.

  • pcgscacgoldpcgscacgold Posts: 2,857 ✭✭✭✭✭

    I would show the coin that looks the best (if you are showing a set with gold CAC stickers, then go with that one).

  • pcgscacgoldpcgscacgold Posts: 2,857 ✭✭✭✭✭

    Here is a real life example from my Classic Head $5 set.

    The P55CAC is an R3 with 46 at 55CAC and 90 higher. The N55CAC is an R5+ with only 25-30 known examples to exist. The one is a luster bomb, the other is a toned beauty. The dealer stated the N55 is probably one of the highest surviving coins. Which should I have as my 1834? That is a good question.
    .
    .
    .

    .

  • shishshish Posts: 1,152 ✭✭✭✭✭
    edited October 29, 2024 5:09AM

    The obverse sharpness and luster on the PCGS graded coin are outstanding.
    Although I love toned examples and appreciate the rarity of the NFC coin I think most people would choose the PCGS coin.

    Liberty Seated and Trade Dollar Specialist
  • seatedlib3991seatedlib3991 Posts: 715 ✭✭✭✭✭

    @pcgscacgold . I am a rarity guy but sometimes eye appeal beats all other factors. I would go with the pcgs coin in this case. Also, luster plays such a bigger role in the AU grades. James

  • hummingbird_coinshummingbird_coins Posts: 1,133 ✭✭✭✭✭

    If you like them both equally, consider displaying the one that is harder to find in a rattler, if that is even measureable.

    Young Numismatist • My Toned Coins
    Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled

  • CatbertCatbert Posts: 7,161 ✭✭✭✭✭

    @pcgscacgold said:
    Here is a real life example from my Classic Head $5 set.

    The P55CAC is an R3 with 46 at 55CAC and 90 higher. The N55CAC is an R5+ with only 25-30 known examples to exist. The one is a luster bomb, the other is a toned beauty. The dealer stated the N55 is probably one of the highest surviving coins. Which should I have as my 1834? That is a good question.
    .
    .
    .

    .

    I like door #2!

    RE: OP - My preference is eye appeal over rarity. I have to enjoy looking at the coin!

    Seated Half Society member #38
    "Got a flaming heart, can't get my fill"
  • epcepc Posts: 229 ✭✭✭✭
    edited October 29, 2024 9:31AM

    A different take on the question...

    When I was building my NGC registry set of Liberty Seated Half Dimes, my approach to grade vs. rarity was this: First up, I have to like the coin. After that, I tried to wait for the highest graded coin I could afford. How much I could afford at any given time was limited by my impatience - I hated going more than a few weeks without a significant purchase. In the end, it typically came down to getting coins in grades such that fewer than ~10 were certified in higher grades (combined PCGS & NGC). From time to time I grab an upgrade, but am now primarily focused on more modest coins for the die marriage and die state collection.

    Collector of Liberty Seated Half Dimes, including die pairs and die states

  • epcepc Posts: 229 ✭✭✭✭

    Regarding @pcgscacgold's example, for a one-per-date/mint set, I prefer the first coin. The sharper strike and luster make that a no-brainer for me. But as a variety collector, finding a quality example of a rarer variety is always sweet.

    Collector of Liberty Seated Half Dimes, including die pairs and die states

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    Thanks for the perspectives.

    @sedulous said:
    My choice would be simply linked to "opportunity" cost. If I won't see another for 5 to 10 years, that weighs heavily in choice.

    I didn’t consider this.

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    @hummingbird_coins said:
    If you like them both equally, consider displaying the one that is harder to find in a rattler, if that is even measureable.

    It’s definitely measurable. There are pop reports from the late 80s showing total coins graded.

  • Cougar1978Cougar1978 Posts: 8,222 ✭✭✭✭✭
    edited October 29, 2024 4:35PM

    Generally I prefer MS64 or higher.

    But frankly for me (type or date set) would be G04 and up depending on budget. Fill the hole / upgrade later.

    Coins & Currency
  • BillJonesBillJones Posts: 33,981 ✭✭✭✭✭

    I try to buy coins that please me. I’ve been working on a one cent date set from 1793 to date. The grades are all over the place from Red Unc. or Proof for the modem dates to VG for the old dates. Some of the older dates are much better because some of them are from my type set. I’m not worrying about consistency.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • semikeycollectorsemikeycollector Posts: 1,027 ✭✭✭✭✭

    @pcgscacgold said:
    Here is a real life example from my Classic Head $5 set.

    The P55CAC is an R3 with 46 at 55CAC and 90 higher. The N55CAC is an R5+ with only 25-30 known examples to exist. The one is a luster bomb, the other is a toned beauty. The dealer stated the N55 is probably one of the highest surviving coins. Which should I have as my 1834? That is a good question.
    .
    .
    .

    .

    N55CAC!!!!

  • 124Spider124Spider Posts: 939 ✭✭✭✭✭

    What do I know, but I thought the charm of a date set (instead of collecting the complete date/MM set) was that you often could avoid the really expensive ones.

    I don't do any date set, but, if I did, I would get the prettiest coin I could comfortably pay for to fill each slot, which rarely would include the rarest offering from a year.

  • pursuitoflibertypursuitofliberty Posts: 6,925 ✭✭✭✭✭

    Is the premise what do you display in your date set, or which coin do you keep for your holdings, which you present as part of a date set?

    In your scenario, and also in @pcgscacgold 's situation I KEEP both coins, and display the one in the date set that best matches the rest of the set. Sometime the rarity issue becomes more stand-alone that way, but I am perfectly okay with that.


    “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
  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭
    edited October 29, 2024 8:23PM

    @124Spider said:
    What do I know, but I thought the charm of a date set (instead of collecting the complete date/MM set) was that you often could avoid the really expensive ones.

    I don't do any date set, but, if I did, I would get the prettiest coin I could comfortably pay for to fill each slot, which rarely would include the rarest offering from a year.

    I didn’t realize saving money was part of the allure and definitely has not been my approach with the date set. I have acquired some of, if not the rarest rattlers out there excluding 89-CC and 92-S so I decided a while back to not even try because I don’t want to think about “almost” for the rest of my life. I’ve never seen either in rattler and along the way the date set has come together with the help of a friend very nicely.

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    @pursuitofliberty said:
    Is the premise what do you display in your date set, or which coin do you keep for your holdings, which you present as part of a date set?

    In your scenario, and also in @pcgscacgold 's situation I KEEP both coins, and display the one in the date set that best matches the rest of the set. Sometime the rarity issue becomes more stand-alone that way, but I am perfectly okay with that.

    Yes the former. I have kept almost all rattlers that I’ve acquired and now there are so many it’s deciding what to display. My plan is to show them at shows and several dealers have expressed causal interest in showing the public.

  • 124Spider124Spider Posts: 939 ✭✭✭✭✭
    edited October 29, 2024 8:32PM

    @johnny010 said:
    One other twist
    How do you consider a DMPL or PL > @124Spider said:

    What do I know, but I thought the charm of a date set (instead of collecting the complete date/MM set) was that you often could avoid the really expensive ones.

    I don't do any date set, but, if I did, I would get the prettiest coin I could comfortably pay for to fill each slot, which rarely would include the rarest offering from a year.

    I didn’t realize saving money was part of the allure and definitely has not been my approach with the date set. I have acquired some of, if not the rarest rattlers out there excluding 89-CC and 92-S so I decided a while back to not even try because I don’t want to think about “almost” for the rest of my life. I’ve never seen either in rattler and along the way the date set has come together with the help of a friend very nicely.

    We all get to choose what we're collecting; it's a big part of the charm of this rather expensive hobby, to me.

    I'm probably wrong about why people collect date sets, instead of complete sets, but that is the only charm I see in them--cheaper to complete.

    Either way, there's no cheap path for either Morgan dollars or walking Liberty half dollars. Morgans from 1892 through 1895 are all expensive, as are walkers from 1916 through 1928 (in both cases, at least in fairly high grades).

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    @semikeycollector

    Are you building a date set though?

  • semikeycollectorsemikeycollector Posts: 1,027 ✭✭✭✭✭

    @johnny010 said:
    @semikeycollector

    Are you building a date set though?

    Hi Johnny10,

    No. I can't afford a date set.

    Some coins on my list are:
    1859 (very undervalued)
    A better O mint date, maybe 1842-O. The 47-O has gotten very expensive. No more than EF.
    A better date CC could be 1873-CC or 1878-CC. Probably VF, if I can find it.
    I like the Southern Mint coins, but feel they are not undervalued, so may skip them. I do like the 1854-D $2.5 for value.
    After these I may just finish off with a gold denomination type set with a $1, $2.5, $3, $20 each with better dates, not sure.

    What do you collect?

    Thank you,
    Ken

  • pcgscacgoldpcgscacgold Posts: 2,857 ✭✭✭✭✭

    I agree @pursuitofliberty

    Collecting Die Marriages removes those tough decisions of which to keep. It's all about which set to present them in. Date set, toned set, complete variety set, etc.....

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭

    @semikeycollector said:

    @johnny010 said:
    @semikeycollector

    Are you building a date set though?

    Hi Johnny10,

    No. I can't afford a date set.

    Some coins on my list are:
    1859 (very undervalued)
    A better O mint date, maybe 1842-O. The 47-O has gotten very expensive. No more than EF.
    A better date CC could be 1873-CC or 1878-CC. Probably VF, if I can find it.
    I like the Southern Mint coins, but feel they are not undervalued, so may skip them. I do like the 1854-D $2.5 for value.
    After these I may just finish off with a gold denomination type set with a $1, $2.5, $3, $20 each with better dates, not sure.

    What do you collect?

    Thank you,
    Ken

    Currently, I collect Morgan’s and banknotes. My five year plan is to expand into a box of 20.

  • semikeycollectorsemikeycollector Posts: 1,027 ✭✭✭✭✭
    edited October 31, 2024 6:34AM

    @johnny010 said:

    @semikeycollector said:

    @johnny010 said:
    @semikeycollector

    Are you building a date set though?

    Hi Johnny10,

    No. I can't afford a date set.

    Some coins on my list are:
    1859 (very undervalued)
    A better O mint date, maybe 1842-O. The 47-O has gotten very expensive. No more than EF.
    A better date CC could be 1873-CC or 1878-CC. Probably VF, if I can find it.
    I like the Southern Mint coins, but feel they are not undervalued, so may skip them. I do like the 1854-D $2.5 for value.
    After these I may just finish off with a gold denomination type set with a $1, $2.5, $3, $20 each with better dates, not sure.

    What do you collect?

    Thank you,
    Ken

    Currently, I collect Morgan’s and banknotes. My five year plan is to expand into a box of 20.

    I know a bit about Morgans, nothing about banknotes.
    Will you go for grade or scarcity? Any particular dates? Not sure if you feel free to discuss the dates.
    My gold may end up as a box of 10 or 15.

  • johnny010johnny010 Posts: 1,564 ✭✭✭✭✭
    edited October 31, 2024 6:54AM

    The Morgan date set is almost done
    I need to upgrade 91, 92, 93 and 94. Edited to add: 89**
    My set is unique in the fact that I might have a coin that isn’t “ultra rare” like my 1903 65PL rattler with CAC now, but in rattler there were only 5 that ever made it into a holder in this grade with none higher. So from a historical perspective I have high rarity here amongst the group of people that collect these old holders and high grade compared to what was available in those holders.

    Someone else might be able to explain my point better but that’s how I look at it.

    For my box of 20 I’ll go for rare coins that are older. 1700s grabs my attention.

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