With respect to your "primary set", the one you're working hardest to complete...
MrEureka
Posts: 24,362 ✭✭✭✭✭
With an unlimited budget, respect for money, and your current level of effort in building the set, how long would it take you to complete the task to your satisfaction?
Details, please.
And FWIW, I ask because I worry that it has become so easy to collect some things that, for many of us, collecting has become less of a way to spend time and more of a way to spend money. And I don't consider that healthy for the hobby.
Details, please.
And FWIW, I ask because I worry that it has become so easy to collect some things that, for many of us, collecting has become less of a way to spend time and more of a way to spend money. And I don't consider that healthy for the hobby.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Other sets? I finished the Type I and Type II gold dollars. The Type III's go on forever and some like the 1861-D cost a fortune. Then there are sleepers like the 1856-D. I'd like to get really nice set of these coins from the 1880s, but grade-flation has pushed the MS-65 graded pieces up to MS-67.
Beyond that I'm thinking about the Classic Head Quarter eagles (1834 to 1839). I have all but one of the big keys. The one I'm lacking is the 1839-C. If I find that I'll probably finish the set.
Beyond that I'm working on my "dark side" set - one coin for each British king. I've got six more coins left to have the set from William the Conquerer to Elizabeth II. Plus I'd like a Harold II, the guy who lost to William the Conqerer, but he's expesive.
I think you have struck on something significant here. The 'thrill of the hunt' is all but removed from the hobby with the advent and wide use of the internet. Whatever you want or need is immediately available with just a little searching of a few dealer's websites, save for a few rarities, and even these can be found with just a little searching. All that remains is to pony up the funds for the purchase. It took me nearly two decades to complete a Capped Bust half dime collection, with all known die marriages, in AU grade. This was done through a combination of in depth education, networking with others in the hobby of like interests, and earnest, long-term searching at coin shows. But others have more recently accomplished nearly the same goal with the advent of the internet.
...collecting has become less of a way to spend time and more of a way to spend money. And I don't consider that healthy for the hobby.
I already know other people have more money than I do
....And FWIW, I ask because I worry that it has become so easy to collect some things that, for many of us, collecting has become less of a way to spend time and more of a way to spend money. And I don't consider that healthy for the hobby.
As you know, that horse left the barn more than 40 years ago. Without investors, the business end of the hobby would be a fraction of what it is today. Would there be $1M+ coins today if buyers had no/little concern about getting their money back when they are sold? I don't think so, outside of a few coins of genuine historic import. What has changed is faster information flow---this is leveling the playing field between collectors and dealers, to the financial detriment of the latter. Of course, this also makes it easier for buyers to spend their money.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
With an unlimited budget, respect for money, and your current level of effort in building the set, how long would it take you to complete the task to your satisfaction?
The definition of "to my satisfaction" changes as does budget, and thus would also the scope of the task needing completion.
Right now, the only set I'm almost "finished" with is my 1723-1951 prime number set. I have an idea of what I want to use for 1753, and now I have to find it. An unlimited budget won't make coins any more available or attractive, but it will expand what I could consider for this coin. The thing is, I'd probably start tweaking the set after finishing it -- expanding it further or changing the composition.
If I look at my Morgan Dollar set, that would be easier to just order and be done with, given unlimited money, but not if I want to find the perfect coins for me for the set. That would take more searching and discernment.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Complete a set with strong examples of each issue at a fair price point = difficult, and perhaps impossible prior to the Information Age.
Things change yes, some good, some bad.
"... collecting has become less of a way to spend time and more of a way to spend money. And I don't consider that healthy for the hobby."
I think you have struck on something significant here. The 'thrill of the hunt' is all but removed from the hobby with the advent and wide use of the internet. Whatever you want or need is immediately available with just a little searching of a few dealer's websites, save for a few rarities, and even these can be found with just a little searching. All that remains is to pony up the funds for the purchase. It took me nearly two decades to complete a Capped Bust half dime collection, with all known die marriages, in AU grade. This was done through a combination of in depth education, networking with others in the hobby of like interests, and earnest, long-term searching at coin shows. But others have more recently accomplished nearly the same goal with the advent of the internet.
I don't think it is quite that easy. Sure you can find were something is offered for sale, but is it properly graded? Is the price fair? "The hunt" keeps going because of those factors. I've used the Internet to find coins at a major show, but after I've seen them, the hunt has sometimes continued.
Bill, truly sorry to hear about your loss. Devestating.
NO, NO
That was not MY set. It was another one that had over 1,000 pieces in it. Mine is only 60% of that size in sheen numbers, not value.
Yes, when it becomes too easy to collect something, it's hard to maintain an interest in it.
I recognize that my collection of obsolete currency will never be complete because nobody has any idea of what a complete collection is. Although there are reasonably complete records for the thousands of different bank notes issued, the records for the tens of thousands of different scrip issues are a lot less complete, so discoveries of new issues, denominations and issuers are fairly commonplace.
Tokens and medals of various types also offer the collector opportunities to form collections that have no defined end because new ones are always being discovered. There's a wealth of interesting history and stories behind the issuers of these items to be discovered through the internet, with new information constantly being added.
It may be hard to readjust one's thinking towards collecting something but never completing a set but antique and art collectors do it all the time.
Always having something else to look for and research helps keep collectors interested.
Latin American Collection
If it was simply a matter of spending money, I'd probably just spend my time making more money.
I have around half the die marriages but will never complete the set, no matter how much money or time I devote.
And I love the pursuit.
Lance.
Beyond that I'm thinking about the Classic Head Quarter eagles (1834 to 1839). I have all but one of the big keys. The one I'm lacking is the 1839-C. If I find that I'll probably finish the set.
Bill, here is a 39-C, but maybe not high enough grade? No matter, I'm keeping it.
Best, SH
As far as my own meager collecting, I'd like to eventually finish my Lincoln Matte Proof set...only 9 coins! I still haven't finished it and the final coin will put a severe dent in my "coin money".
I will be darn happy when that small goal is accomplished!
Latin American Collection
Ideally, I would say that it would take 10-20 years to complete a truly fine set. My Walker Set took me about ten years although I started collecting Walkers many years before that. And to be fair, my main focus on the Walkers was 1916-1933.
"Look up, old boy, and see what you get." -William Bonney.
I'm working on a CC Morgan lowball set. Currently I only have one PO01. One AG3 and the rest FA2's. I am missing the 85cc in 2 or 1 if I could ever find one. The AG3 is the 81cc and there are 2's out there so I have hope.
Getting to poor ones for the entire set would require many more years than I have left as I would likely have to carry them to wear them down that low!
My set is: boblindstrom on the registry
bob
Yes with unlimited funds one can complete and entire MS or PR set of morgans today. However the quality of the set could probably not be done in the same time frame and a true collector looking for quality will spend the time looking for a coin with just the right look for their set. In fact, knowing that they can now view 10,000's of coins on an almost immediate basis should make the buyer even more quality and "look" particular as he knows he can reach more avenues then used to.
The avenue has changed but the determined collector has stayed the same
Sure one can get very esoteric and look for die marriages, etc., but that is not mainstream collecting and these types of "niche" items might not have similar kind of liquidity.
Having money as a constraint changes everything...I can go out today and purchase the finest known of about 1/2 of my set, and significantly upgrade the quality. But since I don't have unlimited funds, I cannot do that.
In fact there was a BG-712 Cal Frac that just closed on Heritage last night. PCGS MS67, finest known, $3.1k. I loved it, it is a more scarce date, and one of the 5 remaining Cal Fracs that I need to complete my 1869 set. But I don't have that kind of money to plop down on that coin, so I need to hold out and wait and try to find a more affordable example. I would have loved to have won it last night, but showed restrain and will continue looking for a piece I can afford.
Sorry, from where I sit -- and I might be on a numismatic island cause I've been doing this forever -- building sets or collecting coins in general simply comes down to $$. It is the only true single limiting factor. No one hangs on to something forever, and when enough money is offered for it, the owner of even something unique will eventually part with it.
The one thing that makes numismatics fun for mainstream collectors is lack of resources, which makes the chase/hunt more difficult and interesting. I suspect if $$ is eliminated as a barrier, numismatics just becomes another form of entertainment or another form of investment.
Just my 10 cents.
I love copper!
Even with unlimited funds----the last three early dates, as well as the 34-S, 35-S & 36-S are still quite CHALLENGING.
The coins of the 1940s (especially the S coins) aren't especially costly or difficult but they still require some PATIENCE to find really nice examples.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Making the set more interesting here, Period two charms are linked to period two calfracs since many were shared the same obverse dies and I don't know who has a complete list of them.
In short, I will continue working on this set as long as my financial allows me to do so. Unfortunately, I will never complete it. Could I be the first person making 90% completion? Time will tell
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With an unlimited budget, respect for money, and your current level of effort in building the set, how long would it take you to complete the task to your satisfaction?
With an unlimited budget, I'd simply seek to purchase every PCGS coin off of Ebay, other auction sites and dealer sites with the intention of trying to corner the PCGS coin market and own every coin in a PCGS holder.
But then again, with an unlimited budget, that would get tiring very quickly. Actually, if I had an unlimited budget and could buy any coin I wanted, the hobby and a lot in life would become uninteresting. Much of the interest in collecting is making decisions within a budget and not having an unlimited budget. With an unlimited budget, money becomes of little importance and looking for a bargain becomes pointless.
But, if I had an unlimited budget, I might prefer to use it to run for president or buy my very own Taco Bell restaurant.
Even with an unlimited budget, I still think I'd go for an entirely circulated set to keep uniformity (though it would obviously gravitate much more towards choice AU pieces where available). I think (and would hope) that along with an increased budget would come increased standards. If I kept high standards, I still think this set would take 5 to 10 years to complete. There just aren't that many colonials that come to market that are well struck, well centered, and have good color/planchet quality with overall eye appeal. In fact, I looked and even with an unlimited budget there are only 2 coins that I would absolutely, no question buy today to add to my set, with possibly a 3rd that I would need to think about.
I'd love to have a windfall and be able to answer this question from experience someday!