How common is it to build a U.S. gold type set?
GritsMan
Posts: 2,599 ✭✭✭
I'm just fantasizing that if I ever earn any money again 
, it might be fun to try to assemble a U.S. classic gold type set in a matching grade.
For you gold nuts, what kind of grade do you think I could shoot for if I had:
$2000/year to spend?
$5000?
$10,000?
I obviously would be building this SLOWLY, maybe picking up one or two coins/year.
As a bonus question, what do you think the toughest coin(s) would be? Thanks! I look forward to the responses!
, it might be fun to try to assemble a U.S. classic gold type set in a matching grade.For you gold nuts, what kind of grade do you think I could shoot for if I had:
$2000/year to spend?
$5000?
$10,000?
I obviously would be building this SLOWLY, maybe picking up one or two coins/year.
As a bonus question, what do you think the toughest coin(s) would be? Thanks! I look forward to the responses!
Winner of the Coveted Devil Award June 8th, 2010
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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
Id be handpicking PCGS AU58 coins, personally.....
A nice way to spice it up would be do it with branch mint coins!
Here is the composition of the "gold type set" that I see far more frequently than others:
One Dollar Gold Coins
(1849-1854) Type 1
(1854-1855) Type 2
(1856-1889) Type 3
Two And A Half Dollar Gold Coins
(1851-1907) Liberty
(1908-1929) Indian
Three Dollar Gold Coin
(1854-1889)
Five Dollar Gold Coins
(1880-1908) Liberty
(1908-1915) Indian
Ten Dollar Gold Coins
(1880-1907) Liberty
(1908-1932) Indian
Twenty Dollar Gold Coins
(1877-1907) Liberty
(1908-1928) St. Gaudens
(a) Buy the Dansco 7070 album gold page and work on completing it. No varieties---just a basic 10-piece set that omits the T.2 $1 and $3 coins. I cracked out PCGS and NGC graded coins, and taped the inserts to the inside rear cover of my 7070 album.
(b) Add the T.2 $1 and $3 coins to the above to assemble a 12-piece set, and perhaps put the coins in a Capital plastic holder.
If you aren't an expert at grading gold coins, don't even consider buying them raw. Make an effort to locate coins that aren't dipped out (pale gold look)--you want coins with a nice 'skin' (natural toning).
Going back further than 1840 or going after coins from the southern branch mints will require the advice of an experienced, trustworthy dealer.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
<< <i>It's a matter of which coins you choose to include and what grades you seek.
Here is the composition of the "gold type set" that I see far more frequently than others:
One Dollar Gold Coins
(1849-1854) Type 1
(1854-1855) Type 2
(1856-1889) Type 3
Two And A Half Dollar Gold Coins
(1851-1907) Liberty
(1908-1929) Indian
Three Dollar Gold Coin
(1854-1889)
Five Dollar Gold Coins
(1880-1908) Liberty
(1908-1915) Indian
Ten Dollar Gold Coins
(1880-1907) Liberty
(1908-1932) Indian
Twenty Dollar Gold Coins
(1877-1907) Liberty
(1908-1928) St. Gaudens >>
Agree. This was the format of the Capitol three piece plastic coin holder which was popular prior to slabs. The type set can be expanded later to include the with motto and no motto types and the $2 1/2 and $5 Classic head coins which aren't too expensive in circulated grades.
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
<< <i>.........and perhaps put the coins in a Capital plastic holder. >>
Recommend buying them slabbed and recommend keeping them slabbed in case you ever need to sell one or trade one for a better grade. With the many counterfeits out there, top tier slabs are mandatory.
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
<< <i>I'm just fantasizing that if I ever earn any money again , it might be fun to try to assemble a U.S. classic gold type set in a matching grade. >>
I would recommend that you drop the idea of having your gold type set in matching grades unless you are going pass on including the Type II gold dollar and the Three Dollar gold piece in your collection. Attractive examples of those two coins can be found, with some diligence, in Choice AU that will match up well with the other more common coins in MS-63 and 64. Buying less than Mint State examples of the Liberty and Indian $2.50, Liberty $5.00, Liberty and Indian $10 and the Liberty and St. Gaudens $20 gold coins does not make a lot sense unless you are mainly interested in these coins for their bullion value. The $5 Indian gold piece is very tough in strict Mint State condition. Most if not all of the $5 Indian coins that I have seen in grades less than MS-63 have been “sliders” in my opinion.
Buy as many of your gold type in Mint State as you can. In the long run you will be much happier with your set. AND buy certified coins. There nothing more disappointing than to find that you have been stuck with a counterfeit coin.
<< <i>It's a matter of which coins you choose to include and what grades you seek.
Here is the composition of the "gold type set" that I see far more frequently than others:
One Dollar Gold Coins
(1849-1854) Type 1
(1854-1855) Type 2
(1856-1889) Type 3
Two And A Half Dollar Gold Coins
(1851-1907) Liberty
(1908-1929) Indian
Three Dollar Gold Coin
(1854-1889)
Five Dollar Gold Coins
(1880-1908) Liberty
(1908-1915) Indian
Ten Dollar Gold Coins
(1880-1907) Liberty
(1908-1932) Indian
Twenty Dollar Gold Coins
(1877-1907) Liberty
(1908-1928) St. Gaudens >>
I added the $2.5 and $5. classic head 1834's for mine as well as motto and no motto where appropriate for each denomination.
<< <i>I added the $2.5 and $5. classic head 1834's for mine as well as motto and no motto where appropriate for each denomination. >>
The Classic Head and No Motto types are great additions once you have completed the 12 piece type set. Of course there are two sets of No Motto coins, the Liberty pieces from the 1800s and the St. Gaudens No Motto $10 Indian and $20 gold. Neither of those coins is that tough to find, and I've seen some $10 Indian pieces that were under graded in the holder IMO. The light strikes on that coin often prompt the grading services to grade them too harshly.
After that the financial rubber meets the road. There is the 1907 High Relief $20 which is a 5-figure coin easily followed by the early gold which really involves a serious financial commitment.
Liberty: Parent of Science & Industry