Best Ways to Collect Gold

Along

What are your favorite ways to collect gold? Which registry sets and strategies do you use?

winesteven

I use the PCGS 12 piece Gold Type Set. I buy common dates so that I can afford higher grades. Some collectors prefer tougher dates. I ask myself about how much can I comfortably afford (and willing to pay) for each slot? That determines which grades I buy for each slot.

Here’s my final result. I got VERY lucky as I bought most of these between six and nine years ago, well before the big run up in pricing. If I had to put this set together today with that same budget, I’d have to buy lower grades!

https://www.pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/121025

Steve

MrEureka

@winesteven said:
I use the PCGS 12 piece Gold Type Set. I buy common dates so that I can afford higher grades. Some collectors prefer tougher dates. I ask myself about how much can I comfortably afford (and willing to pay) for each slot? That determines which grades I buy for each slot.

Here’s my final result. I got VERY lucky as I bought most of these between six and nine years ago, well before the big run up in pricing. If I had to put this set together today with that same budget, I’d have to buy lower grades!

Would you collect silver and copper coins exactly the same way?

winesteven

Yes, which I do. The hot link that automatically appears at the very bottom of each of my replies is for my PCGS Registry Dansco 7070 Type Set, ranked Current #1.

Using the same rationale, for many “series”, I choose to use “DATE” sets in the Registry. With these, instead of collecting every mint for every year, I only need one coin for each year. This allows for two things: fewer coins, and I can choose to pick the most common mint for each year. This allows me to afford higher grades. I’ve done this for Lincoln Wheat Cents, Mercury Dimes Full Bands, Standing Liberty Quarters Full Head, Morgan Dollars and Peace Dollars.

However, I also collect “normal” series (complete sets) - Flying Eagle cents, Indian Head cents, Two- cent pieces, 1936-1942 U.S. Proof Sets, Capped Bust Half Dimes, Capped Bust Dimes, Proof Barber Dimes, Twenty-Cent pieces, Proof Franklin Halves, and 50-coin Classic Silver Commems.

I have quite a broad collection!

Steve

Along

I have been working on the 12 piece gold set all in AU58 with CAC. Putting together a matching set has been enjoyable. I’ll likely finish it later this year. Not sure what to do next. Would like to stay with gold.

MrEureka

For me, the trick would be selecting a set that wouldn’t force me to buy individual coins that I wouldn’t normally choose to own, or pay prices I wouldn’t normally consider paying. Which for me rules out almost everything. Seriously. So I might take on a set of New Orleans $20 Libs, but would never go for a complete set of business strikes from 1850-1907. Or I might go for a complete set of $3’s. Or a complete Pan Pac set. Type sets are almost completely out of the question. Most of the coins would be too common in the usual grades, and not a good use of money at the very highest end. I’d rather buy legitimately rare coins.

Along

Very well reasoned. Thanks for the ideas, I will look into those.