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Do You Attempt to Keep a Consistent Grade Range in Your Set or Buy the Best You Can Afford?

msch1manmsch1man Posts: 809 ✭✭✭✭
I know there are some on these boards that just buy cool coins as they come along, but I think the vast majority of us are putting some type of 'set' together. The 'set' might be a type set, a date set, a date/mintmark set, or a complete variety set. I myself am working on a type set. Like I would guess most do whether defining the set yourself or using a pre-defined list (like a registry), I mapped out the coins I want in my set and a rough "target" grade (based on budget) that was realistic for each coin. Obviously depending on the piece, the "target" grade can vary from say a VG piece to a Gem mint state piece. Up until now, I've planned to keep all the coins circulated and haven't looked at mint state pieces at all with the thought being that a set with a mixture of mint state coins and circulated coins wouldn't seem nearly as cohesive of a set in the end. For some issues, finding a super choice AU piece is a lot harder than finding a nice say MS63 piece (and in some cases the price difference really isn't that much). Anyway, I've been wondering recently if maybe I should look at mint state pieces where I can afford them and abondon the notion of keeping it all circulated.

Curious what others thoughts are on this. Regardless of what type of set you're putting together, do you strive to keep all of your set in a certain grade range or do you simply buy the best you can afford regardless of grade?

Comments

  • tradedollarnuttradedollarnut Posts: 20,146 ✭✭✭✭✭
    Best available - which may not directly relate to what I can afford or is highest graded
  • BustHalfBrianBustHalfBrian Posts: 4,119 ✭✭✭
    I try to stay between VF30-XF40, regardless of value. I save up for the more expensive ones.
    Lurking and learning since 2010. Full-time professional numismatist.
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Buy the Best I Can Afford
  • oih82w8oih82w8 Posts: 11,869 ✭✭✭✭✭
    Primarily it is the best that I can afford.

    ...but I am leaning towards the "Everyman Set", anything AU58 and below. Some of the best looking coins that I have seen are high AU. Low MS coins have the tendency to be...blah...not all of them though.
    oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's

    BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug...
  • BarndogBarndog Posts: 20,454 ✭✭✭✭✭
    date set of halves XF45-AU55
    date set of small size bust quarters XF45

    half dimes by die marriage and remarriage:

    R7 or scarcer: VF and better
    R6: XF and better
    R1 through R5: AU and better
  • BarndogBarndog Posts: 20,454 ✭✭✭✭✭
    (capped bust halves 1807-1829)
  • BryceMBryceM Posts: 11,722 ✭✭✭✭✭
    For my US type set I stick to business strikes and usually keep each of the coins within the same general price range. Early bust material ends up being collected in F to low VF range, more difficult Seated coins are XF-AU, more plentiful Seated to Renaissance issues are MS, and moderns are choice gem and above. This provides a reasonable pattern of consistency and the older coins look, well, old. There are plenty of exceptions and I don't mind spending more for issues that are important to me (silver dollars, Barbers, etc).

    For my Peace set, it's best available within the budget. That equates to gem or better for all but the 25-S and 28-S.
  • david3142david3142 Posts: 3,388 ✭✭✭✭✭
    I think it depends on the series. If there are expensive key dates it can be very hard to keep a consistent grade as so much money will be tied up in one or a few coins. For my series, I try to buy before the big price jumps. For my Morgan dollar collection this means choice VF all the way up to MS67. Some of the jumps from AU to MS in the Morgan series are remarkable so it just doesn't make financial sense to get a poor MS coin. For example, my 1884-S and 1901 are both AU58. On the other end, it doesn't make sense to get less than a 65 (or 64DMPL, for coins that are available with mirrors) for coins like the 80-S unless the have great color.
  • SmEagle1795SmEagle1795 Posts: 2,135 ✭✭✭✭✭
    I don't focus too rigorously on maintaining a specific grade but there have been coins that I've had to pass on because of their unfortunate low grades. It's tough, when slightly nicer coins cost 10x more, but it perfectly explains why they cost 10x more.
    Learn about our world's shared history told through the first millennium of coinage: Colosseo Collection
  • Dave99BDave99B Posts: 8,332 ✭✭✭✭✭
    For date/MM sets, I prefer the same grade....in my case, usually VF20-VF35.

    I think a complete set in the same grade looks much more impressive than a set that ranges all over the place. Just my opinion.

    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • WalkerfanWalkerfan Posts: 8,897 ✭✭✭✭✭
    I don't go below 63. I try to stay in the 64-66 range.

    I look more at what's in the slab than what's on it, though.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • david3142david3142 Posts: 3,388 ✭✭✭✭✭
    Walkerfan, what do you plan on doing with the 19-D, the 21, and the 21-S? For me, it'd be hard to justify the extra $60K on those three coins to go from AU to MS63. For that same money you could have 2/3 of the set in 66 and 67.
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    1805-1828 quarters by die variety and die state, Common VG-VF, rare ones AG-Fine. image

    Liberty: Parent of Science & Industry

  • coinbufcoinbuf Posts: 10,715 ✭✭✭✭✭
    I think it really can depend on the series, a long series (like the Lincolns I collect) are difficult to have in very high grade unless you have very deep pockets. So I want the tougher early dates in 64/65, the middle dates in 66/67, and the later dates in 67 and up. It's not a perfectly matched set but not so far off as to look weird, now this set in circ grades would be much easier to match at say the VF range up to 1958.
    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • lasvegasteddylasvegasteddy Posts: 10,408 ✭✭✭
    i just buy coins i like
    some have grade constraints
    some have strike constraints
    some have toning i like or love

    my 1965 to 1967 sms cameo set is to be a balanced sp66cam as that 1965 sms lincoln gets crazy at 66cam and above

    everything in life is but merely on loan to us by our appreciation....lose your appreciation and see


  • BoosibriBoosibri Posts: 11,841 ✭✭✭✭✭
    In my 1842 transitional half eagle set I have from MS65 to EF40. It was a consideration but I go for best available. The MS65 is actually the rarest coin in the set not the opposite.
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭
    In a perfect world I'd like all my HTT's in MS66RB but some aren't available in UNC so I have to settle for XF-AU's.
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I try to find the best I can at my price and I don't do sets. So I try to buy the nicest coins I can afford. image


    Hoard the keys.
  • NapNap Posts: 1,702 ✭✭✭✭✭
    With bust halves I was going for VF-XF. I think they are charming coins in circulated grades and not going to break the bank. I could afford AU-MS on more common dates but I think the set looks better as a matched VF-XF. For the more expensive rare dates I would look for problem free G-F coins.

    Now that I collect medieval coins, my standards have changed a little. Most of these coins are ground finds, and some varieties are represented by <10 specimens known, so I will occasionally obtain impaired examples for the sake of completion.
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭
    I buy the best I can afford or find with a lower limit of VF-20. If I can't afford or find something that has to be very low grade or badly damaged in order for me to get it, I will pass on that item, even if I never own one.

    The lowest grade item in my core collection is a 1796, 16 star variety half dollar in PCGS Fine-15. I wish that it were a VF, but I have just never caught up with one. I have only had a chance to buy an "AU" that had been dipped.

    The consistent grade across the board concept is simply not possible if you are going to embark on completing a tough series or project. To do that would involve "dumbing down" everything, which to me is just plain foolish. If you can afford a high or higher grade coin in a certain slot, go for it.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • Hello Folks---Years and years ago, when my son started to collect---against my wishes---I needed something to occupy my time as well. So, I renewed my Walker collecting from my youth.

    You MUST consider beforehand your series. How much will it cost you to complete it? What kind of coins will you accept in the set? How long will you be willing to work on the set to finish it?

    I started with just FINE coins. Limited my purchases to a max of just 30 bucks per coin. But, what I wanted was NOT easy to obtain. I wanted only original skinned coins---never fooled with or dipped. I wanted coins with strong strikes. Tried for coins with NT toning.

    What I ended up with was NOT one set of Walkers but actually 4---or more---sets. One in VG--F. Then one in F--VF. Then one in VF--Unc. And finally one in XF--Gem Unc. I would buy and strive to basically fill all those 4 sets. And, in 16 years, I've done that. Now, I buy basically only a few coins every year. It's a matter of just upgrading when I can. It has gotten increasingly harder to find what I want. So, I seemingly select fewer coins each year.

    I knew, from the start, that collecting Gem "early" Walkers was NOT an option. They are WAY ABOVE my price limits---were then and still are now. So, I worked within my other confines and picked the BEST that I could obtain within reason. As I got ever better, my monetary limits increased. These days I still won't go above a certain money limit. I've NEVER felt comfortable letting anyone but me determine what a coin should grade. Consequently, I NEVER play in the very high MS grades by the TPGS. I don't often agree with those slab numbers---or at least don't agree with those high inflated prices in order to obtain such pieces.

    In the end, I'm very satisfied with what I have managed to put together. Would NOT even attempt to start over again---as the coins just don't seem to be there anymore. A lot of folks seem to collect the Walker---a great design. The coins have a demand---especially in the early years---that exceeds the supply. Trying to match the colors of the coins is also next to impossible these days. Wishing all of you the BEST in your collecting efforts. Bob [ supertooth]
    Bob
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    Every attempt of mine to "build" is torn down by others building better.
  • BillJonesBillJones Posts: 33,427 ✭✭✭✭✭


    << <i>Every attempt of mine to "build" is torn down by others building better. >>



    You learn to not to pay attention to what the others are doing. Ninety-nine point nine percent of time there will always be someone out there is better than you are. Having to be the best at everything is a recipe for unhappiness. I've learned that if you do well and have done the best you could have done at the time, it's good not to worry about the rest.

    My type coin registry set is WAY behind the #1 guy ATS. He is the retired CEO of a major consumer products corporation. My financial resourcs simply do not compare with his. His set is 80% complete. Mine is 100% complete.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • MrHalfDimeMrHalfDime Posts: 3,440 ✭✭✭✭
    My collecting goals are somewhat similar to those expressed by Barndog, at least for the half dimes. I have always admired any collection assembled in a uniform grade, whatever that grade might be. I once saw an impressive complete set of Barber halves in a uniform grade of VG. Accordingly, I have attempted to collect all 92 die marriages of the Capped Bust half dimes in a uniform grade of AU-58. At present I have 92/92 die marriages, plus 47 of the 50 remarriages, in an average grade of AU-56.696. For the Liberty Seated half dimes I have no idea how complete I might be (no one knows what a 'complete' set includes), but my average grade is AU-58.3. Obviously, many of these coins could have been purchased in significantly higher grade, but the uniformity of grade, surfaces, and eye appeal of these coins make them something to behold. The money saved when purchasing the common dates in this grade have been applied to the key dates, which are significantly more expensive in the same grade. Besides, collecting in this manner adds a considerable degree of difficulty, adding to the thrill of the hunt, and provides us with the rather incongruous concept of "downgrading" an occasional coin to meet the target grade. To each his own; there are no wrong ways to collect.
    They that can give up essential Liberty to obtain a little temporary safety deserve neither Liberty nor safety. Benjamin Franklin
  • OldIndianNutKaseOldIndianNutKase Posts: 2,700 ✭✭✭✭✭
    I try to buy the best available , but there are cases where the highest graded coins do not have as much eye appeal as lower graded examples. Consequently the grades in my proof IHC collection range from 63 to 67, mostly BN and RB, but a few RD's as well.

    OINK
  • SkyManSkyMan Posts: 9,493 ✭✭✭✭✭
    The best that I can afford.
  • BarndogBarndog Posts: 20,454 ✭✭✭✭✭


    << <i> For the Liberty Seated half dimes I have no idea how complete I might be (no one knows what a 'complete' set includes), but my average grade is AU-58.3. >>



    man, someone should write a book. Publish it online just like Gerry's dime book! image
  • WalkerfanWalkerfan Posts: 8,897 ✭✭✭✭✭


    << <i>Walkerfan, what do you plan on doing with the 19-D, the 21, and the 21-S? For me, it'd be hard to justify the extra $60K on those three coins to go from AU to MS63. For that same money you could have 2/3 of the set in 66 and 67. >>



    The only coin that I may add in AU will be the 21-S but the rest will all be choice or near gem examples.

    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • TiborTibor Posts: 3,200 ✭✭✭✭✭
    I collect early dated pre-1500 AD European coins. For me the date is most
    important. It has to be clear and legible. The rest of the coin is secondary.
    I am always looking to upgrade when the opportunity comes along. Price
    is important and I've been known to over pay for some. The pride of owner-
    ship means a great deal to me. Many of these coins are rare (<50 known).
    How many of us regret not going the the next bid increment or two for that
    special coin? I learned that lesson on the bid boards at the local shop in
    the 1970's.
  • messydeskmessydesk Posts: 19,642 ✭✭✭✭✭
    Best I can afford, is available, AND makes sense to me.
  • WalkerfanWalkerfan Posts: 8,897 ✭✭✭✭✭
    I would like to add the following:

    I carefully considered my series before I started it and I knew exactly what I was getting into. MS Walkers (both early, middle and later dates) are just perfect for me! They press my limits and are extremely challenging but they are still well within my reach.

    If you like only F-VF or even XF-AU Walker coins; I can certainly understand why, as the early MS coins can be quite cost-prohibitive for many collectors.

    I like NT toning and will accept it, when I can and, IF IT'S ATTRACTIVE. Doing an NT circulated set is VERY DIFFICULT, especially these days, but it would be nearly impossible, to obtain a FULL MINT STATE set of just NT coins THAT WERE ALSO technically sound in their other aspects. Besides, I prefer white but lusterous and well struck coins, which are EXTREMELY difficult to find just by themselves.

    I always buy the coin and NOT the holder. It has to pass my test and not only the major TPGS and/or CAC's. I find that choice to near gem early Walker examples offer the highest quality and biggest investment potential, especially, if they upgrade. I have studied the series and price trends long and hard for many years and I know what to look for based on the nuances of each date/MM issue.

    Also, for the middle dates (1934-1940) I purchase MS 65-66 coins and for the late dates (1941-1947) I buy MS 66-67 coins. I demand the quality, rarity and beauty of the purely MS pieces.

    The problem with the early dates in MS is not that they are cost prohibitive for me (even the 1919 D and 1921 P/D & S coins) but rather that the populations are so extremenely low that they rarely become available, so finding them is VERY challenging and I will only accept very PQ pieces, in the right grades, which makes it even tougher.

    But anyone that knows anything about Walkers understands that it takes years, if not decades to put together a good, high quality set. It simply CANNOT be done overnight or in the short term. I started my certified set in 2005 but was inactive from 2006 through most of 2009. In just under the 6 years since; I have made remarkable progress and I will finish---mark my words, as most of the hard part is already done. But I refuse to be hasty and I am in NO HURRY to pick up coins that I simply don't like. Besides, I ENJOY the hunt. image I am extremely satisfied with my progress, thus far. In addition to that, finishing the middle to late dates will be very EASY and inexpensive for me, as I already have MOST of the key dates throughout those years.

    I love the design, as well, b/c it's a quintessential and highly popular classic coin.

    I would not want to start over again, as others have alluded to.....it would be just impossible to replace many of my pieces, at the prices that I have paid for them, due to both price inflation and gradeflation.

    So, I upgrade and I add, when I can.

    If the last 5 years are any indication of the next 5 years----I should have no problem whatsoever! image

    Happy Collecting to All of You!!


    “I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~

    My Full Walker Registry Set (1916-1947)

    https://www.ngccoin.com/registry/competitive-sets/16292/

  • mozinmozin Posts: 8,755 ✭✭✭
    I find that in the Bust Series, I do not buy anything less than PCGS 45. Normally, I only buy AU 50 or better. When the grade goes below 45, I usually don't much like looking at the coin. This means I avoid buying a lot of rarer Bust coins, like the 1807 Bearded Goddess, or the 1812/1 Large 8.

    Classic Commemoratives I buy usually just before the big price jump, could be PCGS 64, or something better.
    I collect Capped Bust series by variety in PCGS AU/MS grades.
  • DDRDDR Posts: 1,560 ✭✭✭✭✭
    In general, I shoot for a consistent grade range.

    That said, for my signature set, chopmarked Trade Dollars, I collect the best I can afford.

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