Type Setters - What's your strategy?
FilamCoins
Posts: 1,899 ✭✭✭
Do you set a price ceiling for each coin and buy the best you can?
Do you establish a total amount you want to spend and divide by the number of coins needed?
Or maybe you prefer the no-plan-fly-by-the-seat-of-your-pants approach?? Buy if and when a coin moves you?
Have you set a goal for completion?
In short, if you are building the complete 137 coin type set, how are you going about it?
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Pretty much exactly what I'm doing, except I'm not quite ready to set a minimum grade, especially on some of the tougher types. Not as interested in modern issues, so these will probably be addressed last (unless I run across a fabulous piece along the way). I like the reassurance that CAC provides, but not a show stopper for me if I like the coin.
Empty Nest Collection
Matt’s Mattes
I'm pretty much doing it one coin at a time. I save up for several months, and then go to a coin show, where I can choose from among various sight-seen options. I then buy the one best coin I can afford. Right now my set appears 2/3 done, but some of the items are placeholders in the type set. They'll eventually get replaced with higher graded ones; I eventually aim to have everything at least MS62, except perhaps the $3 and the Type II $1, both of which get pretty cost-prohibitive.
I also started with the most expensive items. The $20s are, even in circulated grades, at very minimum $1500. If you're spending that much, it's not that much more to get them in lower uncirculated grades. The next toughest was the $3, which, if you tried really hard, you could find for under $1000, but, realistically, also runs bare minimum $1500. I went a little more to avoid the three most common (or rather, least rare) dates. (Note also on the Liberty $20, I avoided 1904, which is maybe ten times more common than the next date in the population reports.)
I will eventually work on the rest of the larger type set, largely as a point of interest and variety, though I don't plan to spend nearly as much on most of the silver, copper, or nickel items in the near future. There's a place in my heart for Morgan dollars and for the Theodore Roosevelt era, when coin designs in general got really good, so there eventually will be some special items going into those spots.
Basically, one coin at a time, the best example I can find, with emphasis on higher grade but avoiding the one or two most common dates.
<< <i>I went a little more to avoid the three most common (or rather, least rare) dates.
Basically, one coin at a time, the best example I can find, with emphasis on higher grade but avoiding the one or two most common dates. >>
I like this aspect of your strategy.
Think I will adopt it!
<< <i>401k
You've probably done better than 99% of the 401K plans out there during the past 10 years!
what is your time frame?
will you be upgrading along the way - or complete before any upgrades
what are you using for source of coins?
are your funds limited to XXX / time period
Dwayne F. Sessom
Ebay ID: V-Nickel-Coins
<< <i>are you building a registry set of numbers or something you enjoy (or both?)
what is your time frame?
will you be upgrading along the way - or complete before any upgrades
what are you using for source of coins?
are your funds limited to XXX / time period >>
Definitely something to enjoy. Including pics and info where I can.
20 years.
Upgrading along the way. 4-5 coins a year.
Will limit to approx $100k give or take to complete (or at least 90% to completion).
Our new PCGS set focuses on issues from the Denver mint and spans to the present, as such it is a hybrid set not covered by a single composite. We utilize a 20th Cent Type Set composite for coins dated 1906 to 1999 and a Modern Type Set composite for those dated 2000-present.
For the most part, as to dates, we typically seek coins from the first year of issue, except in cases where the particular date-mint combination in the desired grade is cost-prohibitive (ie 1932-D Wash 25C in MS65 at $14K). In such cases, we may instead target the final year of issue or, in other cases, some personally meaningful date. Our strategy here is that we'd rather sacrifice a specific desired date rather than compromise desired condition.
As to minimum grades, our goal is to compile a "gem" collection with all modern (1965-present) graded at MS67 or better and all prior to 1964 being MS65 or better, adding the best that we can afford and upgrading along the way.
Eventully many of these coins will be absorbed into the broader, Basic US Type Set. Admittedly, this set is not the highest of our priorities, but we manage to chip away at it as we go. The showcase for this combined hybrid set is displayed here.
pws
Anyone else going for the grand daddy of type sets?
Outstanding!
So you're mixing proofs with business strikes I see.
Looking forward to seeing your sets progress.