Type Collectors - What's Your Strategy for Completing Your Set

msch1man

A type set (however you choose to define it) is obviously going to contain a large variety of coins across many different series, denominations, and price points. You could work on completing your type set a number of different ways. For example, you could acquire by price point and try to acquire all the cheaper coins or more expensive coins first. You could focus on a denomination and choose to acquire all the large cents (for example) first. You could focus on a series across denomination and choose to acquire all the capped bust coins (for example) from half dime to half dollar. You could even choose to focus on a metal and acquire all those first. Or maybe you don't have a strategy at all and just pick up nice coins as they come along. I think there could be advantages and disadvantages to each one and am curious to hear thoughts from others.

For those that are putting together, or have put together, a type set, what is/was your strategy for completing your set?

BillJones

My type set is complete. I have everything for the coins up say 1980. I don't bother with every new product that comes out of the mint these days, because that's become like a dog chasing its tail. You can never keep up with it, at least no without spending a fortune.

My approach was to collect the coins I enjoyed the most, which were the older ones. Back in the 1970s and '80s I tried to get as many of the early types as I could. I started with the Draped Bust, Heraldic Eagle coins (roughly 1798 to 1807) because they were old, but more affordable than the very first coins from the 1792 until 1797. I would acquire no more than one or two big coins a year, but the ones I acquired were "keepers." In other words they were the best I could afford and were not pieces that I would want to upgrade later. I did not knowingly buy any problem coins or junk. My target grade was AU, but sometimes I had to go as low as Fine-15 or VF for pieces like a Chain Cent or 1796 Quarter.

During and after that time I would acquire general types for the later coins. For example for the Seated Dimes and half dimes I would get the Stars and Legend Obverse types and not worry about the "With Arrows" or "No Drapery" types until later. As for the modern coins I bought Proof sets, which covered a lot of types. At one time I had 1909 original Proof set, although I sold that to raise money to buy my first home.

In general I did things slowly, and I generally kept the coins I had unless I found an upgrade. I didn't jump from one series to another, and I would not have limited myself to a "box of twenty" of constantly alternating coins. I had a box that just kept getting bigger and bigger.

sparky64

I was a type collector and didn't even know it untill I joined here. Never heard the term before.
Certainly not to the extent of BillJones but I try to get one of everything.
No strategy whatsoever.

I also never heard of a 7070 before joining.
I never cared for albums but it suddenly became clear that a 7070 would give me some needed focus.
It was fun knowing that I already had 80% of the coins needed.

Down to the two Seated Dollars, of course. It'll happen in due time.

Still keep my eye out for non 7070 type coins that I'd like to have.

ricko

When I focus on a series/set, I work it hard... and search all sources. I have tried not to do that in the last few years... I get too crazy. Cheers, RickO

DRUNNER

To answer the OP . . . mine has always been about 'eye appeal'. I am a 7070 guy, and have started 8-10 other collectors in the 7070 over the last few years (of course, with album availability now, it is different). I first completed one with toned coins about 10 years ago. I received a lot of advice to certify the coins, did it, and now the 7070 bug has bitten again. I work with one album now and rotate coins with eye appeal in and out to a 2x2 box when I can replace.

To me, eye appeal can mean different things for different coins and series. Later date material and things like Morgans-Frankies-Roosies-Jeffs can be toned / PL-DMPL / strike. Older material needs to be original for me. I like crust on 18th and 19th Century material. I don't mind wear on an older coin (and I may not be able to afford higher grade! ) and the thought of some of the older coins circulating and being used in commerce in the early days of our country adds something. I also use some material in school as something my students can look at and hold from critical times in our country's past.

So . . . . . . eye appeal. I have a hard time with cleaned or damaged material -- but Type coins with the best grade I can afford and great eye appeal are cool to me.

Drunner
(Doily Type Guy)

veryfine

I like a twentieth century MS type set, but only with first year issues.

lasvegasteddy

i kinda stumble my way with it
through the years it will develop on it's own in a way

my set has it's own parameters without the constrains of another's design of what is needed or not

Swampboy

There are coins of each type that I would love to own.
When I see one that's in my budget I pick it up so until the day I stop collecting you could call me Type Collector for sure.

I have a U.S. Design set in the Registry that's at 40% and will get finished one day and then I have 7070 that I plug away at.

Fun Fun.

TopographicOceans

I don't really have a strategy for completing mine, and I may never complete it as the remaining coins in decent grades are rather high priced.

Denom. Dates Description
0.005 1793-1793 Liberty Cap; Head Facing Left
0.010 1793-1793 Flowing Hair (Chain or Wreath Rev)
0.050 1794-1795 Flowing Hair
0.100 1796-1797 Draped Bust; Small Eagle Reverse
0.250 1796-1796 Draped Bust - Small Eagle Reverse
0.500 1796-1797 Draped Bust; Small Eagle Reverse
1.000 1795-1798 Draped Bust; Small Eagle Reverse

winky

If I like it and it looks really good it goes in my set. That is my type set. Why buy coins for a type set that you can't sell later because everybody already has one. I say collect the rare ones and leave the rest alone.

mercurydimeguy

Start by asking yourself, "how much am I willing to sink into this?"

From there the strategy becomes much easier.

BryceM

The way I see it, the primary goal is to have fun.

As such, I try to not put too many rules on it. I started mine as a 20th Century set and now I'm working backwards. Try as I might, I just can't get too excited about the Seated stuff. Everything before is fascinating. Everything after is pretty varied. The Seated era is just a million different sizes of the same thing, but I've worked my way through it. What's left for me is most of the copper except for small cents, a few early type pieces, many of which will likely never happen, and early gold, which has the same price/availability issues.

I'm no longer in a hurry and I upgrade pieces already in my collection when something really special comes along. I tried to buy the best I could afford the first time around but life circumstances change (for the better, at least for now) and my tastes evolve too. One good bit of advice is to form connections with dealers who are experts in the various areas. It's not the only way to do it, but it helps.

Rollerman

My type set is based purely on the Dansco 7070. It has been completed for a few years, but I update it over the years. There is nothing less that a high VF in every hole now, and that includes the gold which is AU to MS. It's been great fun and would also be the last thing I would part with should I ever have a need to sell.
Pete

AnkurJ

My aim, though many will not like it, is eye appeal and CAC approval. So basically high end for the grade and eye appealing coins.

At this point, I am one coin short. I need to update some images though.

PCGS Type Set

TwoSides2aCoin

I like to capitalize on opportunity when it presents itself. The problem is opportunity always presents itself when I don't have the funds.
But… I have a good strategy.

lasvegasteddy

<< <i>I like to capitalize on opportunity when it presents itself. The problem is opportunity always presents itself when I don't have the funds.
But… I have a good strategy. >>



this bus is kinda full but there's a seat open in the back

david3142

<< <i>I like a twentieth century MS type set, but only with first year issues. >>



This makes the set at least 10 times as expensive because of the 1916 quarter. Do you exempt that one?

DeepCoin

Being a collector with a VERY modest coin budget, I enjoy type collecting as I can get most of the coins at a reasonable price point in lesser grades. That said, I have been working on the full everyman type set. Not collecting MS coins reduces the cost significantly. That said, I will probably never be able to afford a Chain Cent and other expensive coins of that genre. It is so much fun looking for coins at an affordable grade and price. My recent search for 3CS is indicative of the fun that can be had on a budget.

All that said, I avoid flawed coins like the plague and buy for MY eye appeal.

TwoSides2aCoin

<< <i>

<< <i>I like to capitalize on opportunity when it presents itself. The problem is opportunity always presents itself when I don't have the funds.
But… I have a good strategy. >>



this bus is kinda full but there's a seat open in the back >>



I didn't know capitalism had so many back seats available. (edit to add photos for the rest of the meaning)

david3142

<< <i>My aim, though many will not like it, is eye appeal and CAC approval. So basically high end for the grade and eye appealing coins.

At this point, I am one coin short. I need to update some images though.

PCGS Type Set >>



You obviously have a fantastic collection and have succeeded in your goals, I just have one question. If you buy a coin you really like that doesn't have a sticker (presumably because it hasn't been tried), and you send the coin in but it still doesn't get one, what do you do then? If you would keep the coin anyway, then everything makes sense to me. Otherwise, while I completely understand wanting to buy high-end coins for the grade I don't get abdicating this responsibility to someone else.

BillJones

<< <i>

<< <i>My aim, though many will not like it, is eye appeal and CAC approval. So basically high end for the grade and eye appealing coins.

At this point, I am one coin short. I need to update some images though.

PCGS Type Set >>



You obviously have a fantastic collection and have succeeded in your goals, I just have one question. If you buy a coin you really like that doesn't have a sticker (presumably because it hasn't been tried), and you send the coin in but it still doesn't get one, what do you do then? If you would keep the coin anyway, then everything makes sense to me. Otherwise, while I completely understand wanting to buy high-end coins for the grade I don't get abdicating this responsibility to someone else. >>



As everyone here knows, who reads my posts, I don't understand the CAC thing. It is both amazing and disturbing that one man can that much control over the U.S. market. I suppose you could call CAC "the Warren Buffet of numismatics," but even Buffet doesn't have that much control over the investment markets.

TwoSides2aCoin

<< <i>

<< <i>

<< <i>My aim, though many will not like it, is eye appeal and CAC approval. So basically high end for the grade and eye appealing coins.

At this point, I am one coin short. I need to update some images though.

PCGS Type Set >>



You obviously have a fantastic collection and have succeeded in your goals, I just have one question. If you buy a coin you really like that doesn't have a sticker (presumably because it hasn't been tried), and you send the coin in but it still doesn't get one, what do you do then? If you would keep the coin anyway, then everything makes sense to me. Otherwise, while I completely understand wanting to buy high-end coins for the grade I don't get abdicating this responsibility to someone else. >>



As everyone here knows, who reads my posts, I don't understand the CAC thing. It is both amazing and disturbing that one man can that much control over the U.S. market. I suppose you could call CAC "the Warren Buffet of numismatics," but even Buffet doesn't have that much control over the investment markets. >>



GC has more controls over the minds of collectors than the CAC. But this is just my opinion. Go where the money flows.

okiedude

Mine approach was easy. I just cut out pictures of all the coins from an old Redbook and inserted them into my 7070 album, plus they are all mint that way!




































J/K

Baley

Working on a 1793-2000 US type set for the better part of 40 years now, with both major and minor varieties. Just chip away at it one piece at a time as money, and the opportunity for the "right" coins, intersect. All of the really easy types were obtained long ago, and most have been upgraded a few times, with the want list focused on the "weakest links"

The coins are right for me if they are attractive for the grade/price, and the grade level is "the highest that I understand", often at the value inflection point where a small improvement in quality costs a large increase in price. And I'll sometimes "settle" for a problem coin if it's a great deal (minor problem, attractive coin, fair price), rather than continue to go without, just because I want an example of the type to study and enjoy while waiting for a chance to upgrade.

Relatively recent purchases were 1805 half eagle, 1855 gold dollar, 1907 no motto $10 Indian, 1949 open wreath gold dollar, and 1795 flowing hair dollar, all the first of the type I've ever had.

Short want list includes 1795-1798 dollar & 1850-1865 $20. Longer term, still need all the 1793 copper types, all the small eagle 1795-1797 gold, 1796 quarter and 1796-7 half, and a few others...

BillJones

<< <i>GC has more controls over the minds of collectors than the CAC. But this is just my opinion. Go where the money flows. >>



Who or what is "GC?"

AnkurJ

<< <i>

<< <i>My aim, though many will not like it, is eye appeal and CAC approval. So basically high end for the grade and eye appealing coins.

At this point, I am one coin short. I need to update some images though.

PCGS Type Set >>



You obviously have a fantastic collection and have succeeded in your goals, I just have one question. If you buy a coin you really like that doesn't have a sticker (presumably because it hasn't been tried), and you send the coin in but it still doesn't get one, what do you do then? If you would keep the coin anyway, then everything makes sense to me. Otherwise, while I completely understand wanting to buy high-end coins for the grade I don't get abdicating this responsibility to someone else. >>



I do have coins in my collection that did not pass CAC. It depends on why they did not pass. If they are AT or puttied, then I will sell them. If John feels the coin is slightly overgraded, I will keep it if I love the coin. I have a 1795 Cent like that with nice color and surfaces, but was slightly overgraded. I also have an 1811 that has minor roughness that prevented it from passing. If I am spending a large amount of money on a coin, I want to make sure the coin is truly problem free and properly graded.

david3142

Thanks for the response. I think that's a great answer. I didn't realize you could always find out why it didn't get stickereed and that's certainly valuable information. In that case it's really just making you a more informed collector. This is basically the same that I often do at a show, after purchasing a coin. I'll take it to a dealer I know and respect and ask "how'd I do?"

AnkurJ

<< <i>Thanks for the response. I think that's a great answer. I didn't realize you could always find out why it didn't get stickereed and that's certainly valuable information. In that case it's really just making you a more informed collector. This is basically the same that I often do at a show, after purchasing a coin. I'll take it to a dealer I know and respect and ask "how'd I do?" >>



I am fortunate to live very close to CAC, and with all of my submissions, I discuss the coins with John. We have become good friends in the process as well.
The only thing is that I have become much more picky in what I buy now.

JustMe2

A list, time and money. You will have to decide who's definition of a type set you wish to use. I consider mine complete but did not know that you needed a 1792 half dime until a complete of minutes ago. I guess someone picked that one as it is the cheapest. I have also seen other posters' say they have a complete gold type set yet do not have a $4 gold piece. I agree with them. Build it for yourself and enjoy!

david3142

I have a Dansco 7070 myself. I pretty much completed it (save for the modern commem) about 8 years ago but recently decided I wanted to upgrade in a few places. I just bought two coins for it yesterday (both slabbed) so it's time to get crackin'. I'll be curious to see the market for nice raw coins when I go to sell my duplicates.

AnkurJ

<< <i>I have a Dansco 7070 myself. I pretty much completed it (save for the modern commem) about 8 years ago but recently decided I wanted to upgrade in a few places. I just bought two coins for it yesterday (both slabbed) so it's time to get crackin'. I'll be curious to see the market for nice raw coins when I go to sell my duplicates. >>



If you plan to sell at any point, leave them slabbed.

david3142

All of the ones I'm upgrading were never slabbed. Also, although the holder definitely adds liquidity, I'm not cracking out anything where the grade matters that much.