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How do you feel about collecting a series you'll never complete?
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Collecting Hard Times Token's no collector has ever finished a complete set of Lyman Low's original 183.
Some have come close but the pressure to complete isn't there with this series.
Some have come close but the pressure to complete isn't there with this series.
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
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sometimes it pays to be a bottom feeder
<< <i>type collectors don't have this issue or concern
sometimes it pays to be a bottom feeder >>
I know I'll never complete my US Type Set
My approach is to form topical collections within the series. I called them "mini sets." For example I formed die variety sets of the unpatriotic (pro Confederate) tokens, the Lincoln varieties, the Monitor and Merrimack pieces and tokens of New England. Less you think that the sets are easy to form, they aren't, but at least they are possible. I don't collect off metals, and I don't worry about all of the obverse-reverse muleings.
Completeness is not important.
For tokens, a lot of folks choose a theme or a location, but there are many ways to go.
Never fear there is always winner if you play, but I forgot to get a ticket.
<< <i>Each coin should be able to stand on its own merit...and be a collection of one.
Completeness is not important. >>
This
Latin American Collection
Although what I collect now feels like it, there is one coin that I don't own with only 4 examples known (and two distinct varieties!); two are in museums. There's another one with 7 known examples, several in museums. Hopefully metal detectorists will find a few more of these or the one collector who owns most of these will sell, and I can obtain one.
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
It doesn't trouble me. A lot more than rarity prevents me from finishing the set. Like time and money.
Lance.
Does limited desire / ability to complete a series limit the collector base and prices?
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
On the other hand, if the barrier to completion is my budget, as it would be with Proof $20 Libs by date, or finest known Morgan Dollars, I'd rather collect something else.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>I like sets that can be completed. I would have a hard time with an unfinishable set. >>
“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/
<< <i>If the barrier to completion is the availability of the coins, such as it would be with Hard Times Tokens, no problem. In fact, the near impossibility of finding some coins adds to the appeal of the series.
On the other hand, if the barrier to completion is my budget, as it would be with Proof $20 Libs by date, or finest known Morgan Dollars, I'd rather collect something else. >>
This is related to what I posted above.
If sets are difficult to complete, are prices limited to a smaller collector base willing to look for rarities.
If sets can be completed, are prices driven up to the point that budget is a big determiner in completion.
If this is true, then it's certainly nice to have both types of sets to cater to different types of collectors.
<< <i>The chase is better than the catch as Lemmy says.. >>
For me acquisition, ownership, research and observation are much better than the chase. After a few years, the chase gets very old for me.
<< <i>
<< <i>The chase is better than the catch as Lemmy says.. >>
For me acquisition, ownership, research and observation are much better than the chase. After a few years, the chase gets very old for me. >>
Totally agree! The chase can be stressful and unfulfilling.
“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/
So why collect sets at all? Why not just buy this and that, whenever you stumble on something that turns you on?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i>The chase can be stressful and unfulfilling.
So why collect sets at all? Why not just buy this and that, whenever you stumble on something that turns you on? >>
That can be a good strategy for the 1st piece, but, once you get that 1st piece, there can be an urge to get the 2nd, 3rd, etc.
<< <i>The chase can be stressful and unfulfilling.
So why collect sets at all? Why not just buy this and that, whenever you stumble on something that turns you on? >>
B/c I don't enjoy nor do I want to collect that way. I want focus and order. I'm just saying, sometimes, after YEARS of looking it can get tiresome. Sometimes, tough coins are impossible to find and other times we get very lucky. It has happened both ways for me. I enjoy the search TO AN EXTENT but, after a while, it can be frustrating. When this happens; I buy the best available to fill the hole and then just keep looking.
“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/
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
<< <i>Nobody lives forever, either. Doesn't mean you shouldn't enjoy life. >>
I think that most of us enjoy life, regardless of how we collect......
“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/
Similarly, extremely unlikely I'll ever "complete" draped bust quarters or halves by die variety and die state. Again, will be thrilled with 90+%, even an new acquisitions are fewer and farther between.
Liberty: Parent of Science & Industry
<< <i>I've never felt the compulsion to finish a "set". Maybe I'm unusual in this regard. I just prefer individual coins, regardless of type/series that make me smile. >>
I would rather have a "box of 20" in which each coin has a story an makes me happy to view than 20 different dates of one series that bore me with the monotony.
I am an investor who flips material both from my table at shows and online. I may buy seveal issues of a series for a variety of reasons. Its all relative to having something I can retail.
A guy I used to share tables with at shows concentrated on better date coins, mostly Peace Dollars. He wanted material they could not walk over to the next table and buy it at bid. Many would try buy at bid or argue about paying retail but he would stand his ground around CW Trends Retail for the most part. Eventually he would get his price.
Completeting a series is not necessarily a goal in my portfolio - simply ST and LT Capital Gain.
I don;t believe there is any set way one should collect. I generally collect for fun dates associated with some life time event of mine - BD, marriage, graduation from college - BBA, MS. Birth of kids. These may be modern world gold issues or quality world currency. No hope of collecting a set of these as this is not important to me. Coin collecting should be a fun low pressure thing within in ones means. Its like my playing GTA Online - I play it my way not how someone else thinks I should play. I know of currency collectors who focus on collecting National Bank Notes issued from their Hometown or Home state during the National Banking era 1882-1929. Here condition is not as big a factor as finding the scarce item even if its just VG. I had a nice VF 1929 $10 NBN from Prospect Park Bank - Prospect, NJ I had got a great deal on at a Currency auction at a currency show. Only six or so notes were issued from this bank. I held the note a couple of years and did real well on it when a buyer came along.
Collecting a series takes a high level of interest and dedication to completeting the series. In additiion it takes lots of pocket and willingness to take coins off market so the set can be completeted. My priority would be filling the holes with decent material then working on upgrades providing this was some kind of lifetime project. Sets I would consider would be $2.50 Indian, Texas Commems, Oregon Trail Commems.
I try to keep the varsity portion of the coin portfolio to a managable number of say 60-100 slabbed coins or so in terms of what I call the first team which I take to shows. This is 3 - 5 NGC slab storage boxes of mainly PCGS and NGC coins with a couple of ANACS, ICG for the varsity. Keeping it at a managable number saves headache in record keeping and storage / security. I do have about 850 pieces of currency but these can be easily stacked, take up less space than coins, and much lighter while traveling. Profit is much higher on currency but demand can be variable. My investment is roughly 24% of market value on the currency so I have a lot of room. If going to a buying show and flying, I may just take the currency as it can easily fill up 2 cases with most still requring to be stacked.
<< <i>Collecting a series takes [...] a willingness to take coins off market >>
I thought this was interesting. In some sense, Any collecting involves taking pieces off the market, unless one is a dealer and the collection is always offered on the market at some price.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
It will never be done, as I 1) don't have the money, and 2) could not justify it if I did.
Since I know I will never complete it, the "missing" ones do not bother me, and I just occasionally upgrade one or purchase one I did not have.
At some point, the pendulum will swing, and I will be selling off, rather than acquiring, to that my heirs do not have to deal with a significant number of coins.
Of the holes in my set (which is around 90% complete) the ones that I have never had bother me more than the ones I have had and sold and not got back yet. If that makes any sense.
The thrill is in the hunt for varieties that will be cheap when picked. And buying the big dates that can be found when money is available.
I am anxious to see what varieties will be added to the CPG coming up and will be going into the Registry sets.
I still haven't found several of the Roosie varities from the last CPG!
Let the games begin.
<< <i>Collecting Hard Times Token's no collector has ever finished a complete set of Lyman Low's original 183. >>
Many famous US coin sets that no one ever completed. Here is an example, the largest size coins, $50 California gold completion set. A complete set that only needed 12 coins.
If you think $50 gold coins are too large, how about California fractional gold set (okay, I know many of you looked down this set). At this moment, PCGS listed 563 coins as a complete set. Among them, 32 coins are unique for its entry and another 36 entries are for R8, aka 2-3 known. If your goal is to complete this set that no one ever could complete, regardless how much money that you have, then don't start it since you will fail. If your goal is to do the best you can do and hunt for the new variety and to prove it is not a modern (aka post 1882) made, then there are a lot of fun for your venture.
<< <i>What point is collecting a series you can easily complete? >>
Fun. It's much more fun to collect an easy to complete series with a non-collector than one that is difficult to complete.
Quite a few different series have a few dates that make it pretty near impossible ( like the 1884 and 85 Trade Dollars with a combined mintage of 15) so you just exclude those from a "set" that are nearly unattainable for most.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
Latin American Collection
And yes, I know, I'm blowing my own horn since few have but as they say in French, c'est la vie.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
As you become more knowledgable, you will find that---even if you were OK at the start---you'll likely find that circumstances will change as the years roll onward. If you are like me, you will find fewer coins that meet your standards. Thus, you will buy fewer coins with each and every year.
And, what to do about upgrading? Do it as you go along? Or only do it once the set has been completed? Personally, I do it whenever that I can along the way.
Did you remember to allow for monetary increases. Coins do increase in value---sometimes quite a bit. Can you afford to keep spending ever increasing funds? Did you wait to buy the keys and semi-keys? Now you see that they are going up in value much more than others that you have acquired already.
In short, you should prepare for as many of these factors---AND MORE---before you begin. If you can't do this, then collect Type coinage as an example. There you can buy from many different series---but NEVER worry about completing a total set of anything. Doing that you can collect copper---silver---gold----WHATEVER.
Wishing you all the best in your collecting efforts. Bob [supertooth]
Either way I am not done with it...there are usually upgrades.
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, edwardjulio, Coinnmore...
1854-S $2.50 has always been beyond my means. Fancying I might own the 1848 CAL. and 1864 someday keeps me plodding along with the Philadelphia subset.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163