Why Do We Struggle To Complete Sets When They Are Always Sold Piecemeal?
Coinosaurus
Posts: 9,640 ✭✭✭✭✭
As I noted in another thread yesterday, most U.S. collectors are engaged in set building of one or another federal issues, struggling to complete date/mintmark and/or variety sets.
And yet, when collections are dispersed these sets are almost always sold by the piece, only to be taken up again by someone else trying to accomplish the exact same thing.
Occassionally a complete set sells intact (the Law half dimes, recently), but this is the exception.
Why is it that everyone feels compelled to build Lincoln sets (or whatever) when it has already been done thousands of times over? Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets?
And yet, when collections are dispersed these sets are almost always sold by the piece, only to be taken up again by someone else trying to accomplish the exact same thing.
Occassionally a complete set sells intact (the Law half dimes, recently), but this is the exception.
Why is it that everyone feels compelled to build Lincoln sets (or whatever) when it has already been done thousands of times over? Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets?
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<< <i>As I noted in another thread yesterday, most U.S. collectors are engaged in set building of one or another federal issues, struggling to complete date/mintmark and/or variety sets.
And yet, when collections are dispersed these sets are almost always sold by the piece, only to be taken up again by someone else trying to accomplish the exact same thing.
Occassionally a complete set sells intact (the Law half dimes, recently), but this is the exception.
Why is it that everyone feels compelled to build Lincoln sets (or whatever) when it has already been done thousands of times over? Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets? >>
totally disgree
when i sell something, which is rare, i always try to sell it as a set because that brings alot more $$$ then selling piecemeal. definitely true if you look at on by-the-hour basis!
if you been selling your stuff 1 coin at a time,that is a mistake.
as a matter of fact to let you on a secret, the REAL $$$ you can make in coins actually is in putting together sets. just gotta know where/ how to mkt them!!!
K S
<< <i>O.C.D. >>
I think there's alotta truth in that
When did this happen?
Empty Nest Collection
Lance.
I suppose I am one of the fortunate ones.
I was able to sell my complete 83 coin Registry set to one person - myself.
No middle man - no excess fees or expenses.
I DID deliver it in person though but even that worked out just fine.
IMO, the fun in set collecting is in actually building the set to your liking, one piece at a time.
<< <i>Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets? >>
1. How many people would actually derive any enjoyment from saving up money for- what... 10 or 15 years, maybe- before buying their first coin vs. being able to purchase coins at a steady rate as the funds become available?
2. Out of the number of complete sets you've seen, how many of them are ones which consist entirely of coins you'd like to own vs. the number of sets which contain just a few coins you'd like to own?
Well, there's two reasons.
http://macrocoins.com
https://www.smallcopperguy.com
<< <i>Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets? >>
UGH, how boring!! I don't want someone else's set. I don't care if it is "cheaper." I want MY coins with MY story behind each one!
<< <i>IMO, the fun in set collecting is in actually building the set to your liking, one piece at a time. >>
how many started collecting with a complete set?
most of the deals were from broken sets too.
"Because I can"
myurl The Franklin All Old Green Holder Set
In most sets there will a number of coins that are not pleasing to the potential buyer or up to their standards.
Of course there are some sets out there that may well meet the quality standards and have appeal for a single buyer to keep the set intact and add it to their collection, but this is the exception IMO.
At that time, about 3 years ago, a complete set of Morgans came up on ebay. A COPY 1895 was in the hole for that date.
I had never considered trying to tackle the years it would take to put one together.
Each coin was given a grade by the seller with the '89-CC & '93-S graded by PCGS. The plastic would be included.
Nothing was less than XF40. Most were MSxx. The seller sounded reliable. FB was low but 100%.
I took a chance and won the auction with room to spare at $22 K.
I bought the 1895 in PR62 shortly thereafter which raised the total cost to about $60 K.
When I received the collection, I was really happy with it. The grades assigned were conservative in my opinion.
I wrote him to thank him for the opportunity to complete my silver coinage at a fair price.
He returned my email and said he wished he hadn't had to sell them as he had spent many years getting
the best coins he could afford to complete it. I had no doubt he was sincere.
This may contradict the views of most of you who have the advantage of age to allow you to work on
upgrading or completing your collections a coin at a time. However, I'm enjoying owning this collection
which I wouldn't have had otherwise.
Contradict me if you like but try to understand there are variables to take into account when making such a decision.
Your humble but happy fellow collector, JT.
I collect all 20th century series except gold including those series that ended there.
To take it one step further, it would be even more efficient if we just let the coins sit where they are, and if we didn't collect the stuff in the first place?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I vote O.C.D. as the cause...
I vote O.C.D. as the cause...
I vote O.C.D. as the cause...
...but yes, I too enjoy the challenge of building out a set
<< <i> Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets?
To take it one step further, it would be even more efficient if we just let the coins sit where they are, and if we didn't collect the stuff in the first place? >>
Hey, we're collectors after all. You have to at least let us collect
Once people got used to date/mm collecting for the lowly penny, it wasn't too much of a stretch to issue boards (and folders) for other denominations and get people excited about filling those up as well.
Before then, I'd guess that many collectors used the "cabinet of 20" approach (except for those few who felt compelled to get one of everything).
60 years into this hobby and I'm still working on my Lincoln set!
People buy sets because they are irreplaceable, or to get at certain coins they have to have. I purchased 3 near complete sets of seated dollars en masse when I was building my set, just to get at coins I couldn't acquire any other way.
To some people, buying a complete set along the way to completion of their collection is the same as you buying a single coin along the way to completion of yours. A set here, a set there and pretty soon you're Louis Eliasberg.
While this IS True, especially in the Present - it's not an Absolute!
Aside from being extremely fortunate to amass a set of very nice specimen,
I was equally as fortunate to find a buyer that is a Professional in the real world,
unaffected by Economic woes because of the nature of his occupation.
As such, all the pieces just came together and I incurred no loss.
This, by no means, is the norm and I realize it. In most cases, particularly if selling
a set today, depending on series involved, most would lose money if forced to sell
in this downturned Market.
Investing in coins is extremely dangerous - as PCGS themselves tell us.
Timing is another very important factor.
Example: Several years ago Gold (generic $20 St. Gaudens & the likes) were easily
obtained for $300. I bought a goodly amount when at that price and there is NO WAY
I can lose with regards to this venture either.
I realize that I am extremely lucky and things happened "just right" for me.
It's a risk, for sure but PQ coins sell themselves and as for Bullion - again,
I was just Lucky and followed a hunch.
Everything came together so well that the sum total of my Numismatic portfolio is now
100% Profit. This definitely is the exception and NOT the Norm.
I am a firm believer in the saying that "Luck is when preparation meets Opportunity"!
This is quite gratifying yet could easily have gone the other way.
I'd love to buy the whole Dan Holmes Large cent collection but what kind of $ would I have to have? I'll be lucky to get any of the 5 pieces I'm bidding on.
<< <i>People buy sets because they are irreplaceable, or to get at certain coins they have to have. >>
In my experience (as a buyer, seller and observer), a set can be sold for more than the sum of it's parts only if it contains one or more coins which are otherwise unobtainable (and the seller can wait for the right buyer to come along).
I would never buy an unimprovable set, as then I would have nothing to do !!! But there are collectors out there who are several tiers above me, who are building much larger and more important collections (such as complete classic U.S. coinage, etc) ... and for those collectors, they can buy entire sets to fill a hole in their grand scheme the way the rest of us might buy a single coin to fill a hole in a set. So for that type of buyer, an unimprovable set makes a great deal of sense as a purchase.
We can only hope that for every seller there's a buyer ... that's what makes a market.
Sunnywood
Sunnywood's Rainbow-Toned Morgans (Retired)
Sunnywood's Barber Quarters (Retired)
<< <i>Would it not be much more efficient, from an ecomonic perspective, if we traded only in complete sets? >>
Not really. A complete set is always going to contain a coin you (pick 1 or more) don't like, think is too high grade for the set, think is too low grade for the set, too expensive because of grade or some personal reason.
Making a buyer purchase a complete set is quite often "a poison pill" for potential deal. And for many collectors the thrill of the chase is much or all of the fun.