Colonials on the Cheap: I'll Put My Money Where My Mouth Is
MidLifeCrisis
Posts: 10,516 ✭✭✭✭✭
I've said a couple of times in recent threads that I think you can do pretty well building a colonial collection on a budget. To prove my point, I will build a colonial type set with an average cost of $1K or less per coin. With the exception of the major rarities (Higley Copper, Myddelton Token, Continental Dollar, etc.), I'm confident this can be done with some pretty nice coins.
I realize many of you may think that "less that $1K" does not necessarily mean cheap. However, the goal would be to do it as cheaply as possible...and still get nice coins.
I will use the PCGS Registry Set - Early American Coins and Tokens Basic Design Set (1616-1820) to define the collection.
It will be fun to see how close to completion I can get and what the coins will look like that I can find to fit the set.
I realize many of you may think that "less that $1K" does not necessarily mean cheap. However, the goal would be to do it as cheaply as possible...and still get nice coins.
I will use the PCGS Registry Set - Early American Coins and Tokens Basic Design Set (1616-1820) to define the collection.
It will be fun to see how close to completion I can get and what the coins will look like that I can find to fit the set.
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Quite a challenge. Good luck. I look forward to seeing what you come up with.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
There would have to be a lot more <$500 stuff for me to play, with a lot of <$250 possibilities besides. And I don't see that happening. Particularly as I couldn't collect them to the exclusion of everything else. I may try to add one Colonial to my Box of 20, though.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>Define "Pretty Nice" >>
Well, it probably won't be quite as nice as this.
I'll let the forum decide if the collection I build is "pretty nice" or not.
Complete Set of Chopmarked Trade Dollars
Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
If you allow the Box to average $1000 (or $20k all in), it could be even better.
<< <i>If you allow the Box to average $1000 (or $20k all in), it could be even better. >>
I thought about using a $1K per coin average as the criterion for the collection. But I'll stick to my current plan. I think it will be more challenging and, of course, less expensive!
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
<< <i>I'm doing it.....even cheaper
Not exactly, my dear.
Well, it all depends on what your definition of "pretty nice coins" is, but I think you can go pretty far with those goals. It'll take some work though.
Tom
<< <i>If you allow the Box to average $1000 (or $20k all in), it could be even better. >>
I agree. Some very pleasing coins can be had for < $1,000, but for many of the scarce issues a budget capped at that level will buy only impaired pieces.
JA
Coin Rarities Online
I am revising my criteria for the collection to an AVERAGE COST of $1K or less per coin.
Otherwise, things like Mass silver are going to be ugly.
<< <i>I've decided to listen to RYK, BillJones and CoinRaritiesOnline.
I am revising my criteria for the collection to an AVERAGE COST of $1K or less per coin.
Otherwise, things like Mass silver are going to be ugly. >>
Yes, "average" sounds like a much better strategy. You might find a Pine Tree shilling for $1,000, but chances are a good part it was taken off (hole or clipped) in the 17th or early 18th centuries.
<< <i>I've decided to listen to RYK, BillJones and CoinRaritiesOnline.
I am revising my criteria for the collection to an AVERAGE COST of $1K or less per coin.
Otherwise, things like Mass silver are going to be ugly. >>
Still quite a challenge. I have 21 colonials with a cost basis of just under 27k. The problem is that I don't have many of the tough ones yet and some are dups (by type, not by variety). And no Mass silver yet either. So best of luck with that. As most have said or implied, this is a worthy challenge for an experienced collector.
Tom
Can't wait to see the set. This is a very cool project
<< <i>Looks like colonials may not actually be that cheap
Can't wait to see the set. This is a very cool project
"Cheap" is a matter of opinion, of course. But of the 43 coins in this type set, I estimate that approximately 28 of them can be found "nice" for under $1K. I'll do my best to get the others at a cost that keeps the overall average at $1K or below.
It won't be easy. But it will be fun!
<< <i>
<< <i>Looks like colonials may not actually be that cheap
Can't wait to see the set. This is a very cool project
"Cheap" is a matter of opinion, of course. >>
I was primarily referring to the original goal
When I've looked at colonials, it seemed like pieces that could be interesting can start to be had in the $3000 and above range for non-restrikes and about $800 but those are few and far between.
<< <i>But of the 43 coins in this type set, I estimate that approximately 28 of them can be found "nice" for under $1K. I'll do my best to get the others at a cost that keeps the overall average at $1K or below.
It won't be easy. But it will be fun! >>
Great idea. It does sound fun and I'm very curious to see what the set turns out like.
Edited because I forgot about Higley.
Tom
<< <i>So, what would be a reasonable "budget" for the 43 piece set? I wouldn't think it could be done for 150k, but could 200k do it? 250k? 300k? This is something I want to accomplish. This and the 12 Caesars in silver denari.....
Edited because I forgot about Higley. >>
I have been working on the 43 piece Colonial set for a few years now. So far, I have 35 of the 43 coins, including a few of the tough ones (like the Higley copper, Chalmers shilling, Bar copper). A reasonable budget for the entire set is $250K. I don't think it can be done with nice, unimpaired coins for $150K.
I'm simply using the 43 coin set as a template / guide to build the collection.
I will be concentrating first on the 28 or so coins that I think can be found nice for under $1K. We'll see where it goes from there.
<< <i>MLC what is your first destination coin? >>
Washington Draped Bust...see my new sig line below.
<< <i>I remember a PM once with Saint Guru who reminded me (and I hope Jay doesn't mind me re telling it) …. "nobody can win who ain't got skin in the game"… or words to that effect. >>
My collection won't win...but it will get a certificate of participation. Those are always nice.
<< <i>
<< <i>I remember a PM once with Saint Guru who reminded me (and I hope Jay doesn't mind me re telling it) …. "nobody can win who ain't got skin in the game"… or words to that effect. >>
My collection won't win...but it will get a certificate of participation. Those are always nice. >>
I think very few collectors are actually trying to "win" with collecting. It takes a very different kind of collecting to "win" than to have fun.
I think this will be a great example of how one can collect colonials and I'm looking forward to it.
<< <i>Id rather see you set $300 as the upper limit and collect the pieces raw and based on eye appeal "for the buck". >>
Thanks for the suggestion.
<< <i>When I've looked at colonials, it seemed like pieces that could be interesting can start to be had in the $3000 and above range for non-restrikes and about $800 but those are few and far between. >>
I appreciate the support and encouragement Zoins, but I gotta say my experience has been that you can get some really nice, really interesting colonials for less than half those numbers. They won't be top pops, but they could be part of a very nice collection.
I have been following this thread with some interest. And, on the whole, I would have to agree with you. If someone is trying to put together a VF to EF type set collection of Colonials, I think prices are about as good as they have been in a long time. Especially State Coppers. On the other hand, very high end AU/UNC pieces are as expensive as they have ever been.
I have been collecting Colonials for a long while, and a patient research oriented buyer can put together a very attractive set of Colonials for the same or less money than say Barbers or seated liberty. Get far more enjoyment out of the history and folk art appeal of the dies and their various permutation on the coins. Moreover, it will be a real hunt that will take time. I think JA at CRO made the point that you can probably put together a complete Federal set of most things with enough money at one good Summer ANA, not sowith Colonials.
Anyway, I think someone could probably spend less than $2000 a coin and put together an attractive well matched Colonial type set that would truly give someone an historic artifact and something that could be passed down in a family for generation because it is just that cool. But it takes time, a good eye, patience and the willingness to research.
JMO
novacaesarea
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Any updates on the set after 6 months that you care to share? I see you're up to 5 coins and looking good. Still actively adding to the set?
<< <i>Bumping this very interesting thread in hopes of an update.
Any updates on the set after 6 months that you care to share? I see you're up to 5 coins and looking good. Still actively adding to the set? >>
My collecting has slowed down considerably over the past six months, mainly due to my work and long business trips. But I still consider my budget type set and my main, "high end" collection (comparatively speaking) to be active collections and I will continue to add to them from time to time. I've even added a couple of pieces to the budget set that I haven't posted in the registry yet.