Collecting Modern Sets

snapmohr

Hello. Is it wise/economical to collect complete modern sets of Lincs, Jeffs, Washs, Kennedys, and Dollars by buying Mint and Proof sets and breaking them out for an album?

Thanks

darktone

That sounds like it might be expensive to do it this way but it's probably easier to find nice coins this way. mike

BillJones

Most modern sets, which are not in high grade certification holders, do not have a bright economic future. By in larage the supply of "run of-the-mill" Mint State and Proof modern coins is adequate to cover the demands of collectors. You also run the risk of the Proof coins going bad in the album, which can further lower their value.

Collecting modern sets is something you do for fun, but its not usually something that will lead to profits, at least not in the short run of say 5 or 6 years. Collecting and getting modern coins slabbed in high grades can be profitable, but it is a volitile market that has its ups and downs.

291fifth

The modern market, if you are interested in it from a money standpoint, is strictly a PCGS market. Frankly, you are probably getting on board too late as the registry set fad has driven prices way up for the high grade specimens. If you are just interested in nice looking coins try those in NGC or ANACS holders. They will cost you a lot less.

cladking

If you buy nice original sets then this is one of the last sure fire ways to make
money left in the hobby. Profits will be minimal to be sure and it is extremely
labor intensive so not recommended unless you do it for fun.

The market has long valued the coins in a mint or proof set more than the mint
or proof set. As soon as the set is busted up its value increases! One can ac-
tually keep the gems and sell the balance of the set for a net gain. Since these
sets are the best source for high grade coins, collections formed from these
sources will be of the best quality. For the Roosevelts and Washingtons there
is really very little other choice since thes coins are very difficult to find in rolls.

Mint and proof sts are not the holy grail of modern collecting however. There
are numerous coins which were not included in these sets and for some specific
coins they are not the best source or gems. Most modern collectors are also in-
terested in varieties and these tend to not appear in the mint sets.

Finding nice original sets is not nearly so difficult as you might think. More than
half the mint sets on the market haven't been picked over for anything except
Ikes. It's just a matter of finding them.

longtimecollector

try finding a 47 thru 58 mint set that hasn't been picked over.........

Returned a second 51 set this past week because 2 halfs and a dime had been switched out

Sleazebay strikes again........ I HATE looking for sets on ebay, but the double sets have become so few and far between that you cant even find them at MAJOR venues....... Searched FUN for a 51 set and came up empty

cladking

<< <i>try finding a 47 thru 58 mint set that hasn't been picked over.........

>>



The older mint sets have been lost, dismantled, tarnished, and heavily picked over.
Finding gems in these is still possible but with their lower mintages and high attri-
tion it will be quite difficult.

It is the '65 and later dates which I was referring to. While even higher percentages
of these have been lost or destroyed, the much higher mintages still leaves many sets
available.

edsondl

It really depends on what you wish to accomplish.

If you want to have a complete set of uncirculated modern coins, but don't care about having all ultra gems, then buying one each of mint and proof sets for each year will take you a far way towards completing your goal. Since coins usually sell for more individually than as a set (like cars, the sum cost of the parts is greater than the whole), you will probably have a lower price overall going that route. This is especially true if you hve to buy online and can not attend shows, so that shipping will be a major concern. As CK said, you will still have to buy some keys individually that were not included in these sets.

Like BJ, I am leary of putting Proof coins in albums.

Now, if you want to collect gem, high quality coins, this will take more money. At the very least you will have to buy multiple mint sets from each year and select the best coins to meet your level.(you could resell your rejects online, still in the mint cello) I do not see why gem coins need to be slabbed today in order to be worth while to collect. A gem coin in a slab is the same gem coin in an album, if it is properly handled and a quality album is used and stored correctly, imho. If you want a nice looking, high grade set that you assembled in an album, why would you even care about spending the hundreds of dollars and weeks it would take to get them slabbed.

If you are planning to hold the sets for years, why worry about the whole slabbing thing?

I would add that I am putting together a set of Jefferson nickels, raw. As I am only working on one set, I did not go the route of mint sets. However, I am planning to break up my proof sets to pull out the nickels to go in this set. I would not suggest buying individual coins online, sight-unseen, as I did to start my set. Many of them are just awful, bagmarks and poor strikes. (But who is going to pay $4 to return a group of post-1964 nickels bought at 40 cents each) It was upon seeing these coins that I decided that I wanted an "above average" set, which requires individually looking at coins. I do not htink that it is wise or economical for me to buy PCGS graded nickels online to fill the set at >$10 each plus shipping. Early (pre 1955) graded proofs at prices close to raw, yes, but these later uncirculated dates, no.

I would also like to add, that if you are looking to complete high-grade sets, to concentrate on one series at a time. As one dives into these sets, they take a surprising amount of time and effort, especially if you want to keep prices low.

So, my advice: Define your goals.

My goal. A complete set of BU to Gem uncirculated Jefferson nickels from 1938 to 1993 with decent steps in a Dansco album that I may pass done to my grandchildren at some point in the distant future and a complete set of Proof and SMS Jefferson nickels with nice eye-appeal in Kointains in a Dansco album for the same.

Good luck in whatever you decide for your collecting.

Baley

Personally, I think the most economical way to have these modern sets is to buy them already assembled, they are readily available, already in albums, through dealers and on ebay. Then if any of the coins are disappointing (some will be) you can upgrade just those pieces one at a time.

It will cost more (if nothing else, in shipping) to buy them separately and break the sets yourself, but will be more satisfying and more "fun", and you'll be able to handpick your sets (this will also take a LOT longer both in finding the sets and breaking them apart.)

I agree with those who say to define your goals. If you just want to have the sets, I'd buy them already assembled. If you want top quality, buy already slabbed at high grades. If you like the "thrill of the hunt", have time and patience, go the "cherrypick the sets" route.