How did you do YOUR type collection?
BryceM
Posts: 11,859 ✭✭✭✭✭
One of the cool things about this hobby is that it can be enjoyed by anyone at any level and no two collectors are required to do it the same way. Variety, they say, is the spice of life and it's certainly true that tastes and budgets are different across the board.
I got sucked in to all this madness after buying a bit of bullion and the childhood coin collecting gene clicked on again. I had no working knowledge of anything pre-1900 and the whole concept of Bust and Seated coinage was foreign to me. Silver dollars were familiar, so I started playing around with Peace dollars. That kept me occupied for 4 or 5 years, but I've found myself gravitating more and more to type collecting.
At first, I started with a relatively inexpensive 20th Century collection minus the gold, and gradually upgraded, added the inexpensive gold issues (if there is such a thing), and wandered back into 18th and 19th century stuff. It becomes clear pretty quickly that actually completing a complete US type set with gold is a financial challenge. One miserable half disme would cost more than my initial 20th Century set. What to do?????
I settled on a plan to allocate roughly equal money to each spot in the collection, realizing that I could easily depart from that plan when called for. I didn't feel a strong need to collect each variety of a type, (a single 3-cent silver and a single Seated quarter is sufficient). That meant that for many modernish issues, my coins would be approaching finest-known, while the Flowing Hair & Bust coins would be low grade, and require more than their fair share of the budget even at that. I've come to accept and even enjoy that there will probably always be a few empty holes. It's adds intrigue. 
Matching all of the coins was never a goal, but my tastes are narrowing and the selected coins eventually reflect that. So far, it's been possible to pick up examples of the gold back as far as the Classic Head coins, (mostly in the AU58 range - with exceptions) and the eventual plan is to snag one or two examples of the early US gold (departing wildly from the budget to do so). A few random upgrades here and there have also been fun when the right coin comes along.
Along the way I've learned plenty, gradually realizing that quality and uniqueness trumps just about everything. The coin is more important than the holder or stickers. Seems obvious, but it bears repeating. I get more joy from a phenomenal example of one coin than average examples of twenty. I've also learned that when mistakes are made (not often, but it happens), it's best to dump the looser quickly and get busy finding a better example. Also, nothing ruins a fun hobby more quickly than becoming financially burdened by it, so I figured out early on to never buy coins on credit and to keep a small war chest ready for unique opportunities. Sometimes saying no takes discipline!
There is tremendous value in education, forming relationships with people who specialize in the various series, and attending shows to see coins in person. I can't even describe how many times what I thought I wanted was influenced by discussions with others. Sometimes I don't agree with their viewpoints, but often I find myself enlightened by their insight. Trying to buy over the phone or Internet, even with fantastic photos, is a HUGE handicap. I just can't tolerate returning too many coins. I know many dealers say they're happy to do this, but do it too often, and your name goes on the "waste of time / nuisance" list. That's just how business works.
There are a handful of dealers who really do have phenomenal stuff, but they know it, and they charge for it. Paying a premium for those coins basically equates to paying for their time to search them out and make them available. I'm fine with that..... within reason.
As you can see from the photo, there are a few holes left. I just made a deal to fill one of them and that particular coin should be here in a week or so. After that, upgrades will hopefully continue and I'll probably eventually work toward the more significant varieties (all three types of 3CS, Reeded Edge CBH, w/Rays Shield Nickel, w/motto and w/o motto examples, etc.). Hopefully it will never be "done." All of us who have a bit of disposable income to devote to such a hobby are lucky indeed.
What strategies and desires did you employ on YOUR path to type set Nirvana?
Comments
Enjoyable read and great set and presentation
Latin American Collection
Beyond my first Lincoln cent folder, the first "real" coins in my collection were an 1838 half dime and an 1846 large cent. Those two coins really grabbed my imagination when I was 11 years old, and my interest in 19th century coins grew from there. I bought the "Library of Coins" albums when I was in high school and worked on filling as many holes as I could. I was also interested in Indian Cents, but that died after I completed the set in the early 1970s. I was also hooked on gold and completed the 12 piece gold type set in the early 1970s.
After I got my first job out of college I developed a strong interest in early U.S. coins. I worked on a type set as best as I could given the high prices (a couple thousand apiece in those days) for pieces that ranged in grade from VF to AU. I would only add a coin or two a year. I saved X amount a month and "pounced" when the right coin came along.
When I became an "older guy" my finances fell into place and I was able to complete a type set from the half cent to the $20 gold piece. That's where I am now. I have also added all of the "old " commemoratives.
I was late to the coin hobby, taking it up when I was in my mid 30's. And I was just immediately drawn to "coins I've never seen before!" (Which, embarrassingly enough, included the Franklin Half).
So type collecting just seemed like the "right way to go" for me. I did the Dansco 7070 book first, in something approaching "fine or better". My incorrect assumption at the time was that "certified coins are for rich people". As a result, the 7070 set was somewhat overpopulated with problem coins. Not HORRIBLE coins....but not great examples either.
Having finished that, learning much more, and getting to a higher income bracket, I just moved up to doing the type set again....but this time more complete than the 7070 requires, and in higher grades. AU is my sweet spot. With the exception of later issues, (who wants an AU Mercury Dime when MS66 is so cheap?!), I'm very happy with a well preserved AU coin. It's the design elements that give me the thrill, not the "untouched by human hands, and approaching perfection" angle.
For the most part, I decided to forgo gold due to cost, though I did get about 80% through a 20th century gold type set before gold took off. (My two MS-63 Saints were purchased for less than $700 each, which was still a significant commitment for me at the time....or even now!)
I'll never get as complete as my "want list" would lead one to believe. I just can't make myself spend more than $5-$600 on a coin. And I'll only go that high on something I REALLY like.
With many coins out of reach, I'm at the "upgrade or stop" point now on my type set. There is still fun in looking at coins, and picking at other sets I'm working slowly on. At some point I'll probably convince myself to push forward.
I started collecting as a kid with my Lincoln cents in a blue Whitman album. Later I bought Jefferson, Roosevelt, Mercury and Washington folders but never filled them. Lincolns were my main focus and eventually upgraded to a Dansco album.
I've been working since I was 12 so I had a little money from my paper route. I always wanted a $2.50 Indian Gold coin because I was fascinated with the inclusive design. But a paperboy whose father had a TV repair shop, owning a gold coin wasn't in the cards.
I started type collecting at around age 14. It was mostly from a mail order company called SouthPark out of Texas. I saw their ad in a coin magazine where you could subscribe and they would mail you coins each month. I probably joined at the $10 a month level (or whatever the minimum was). They would pick out a group of coins and mail them out each month. I got a variety of coins, which I liked, so that was the start of my type set.
Later I would do phone bids for auctions, but they were sight unseen so I didn't get much quality and lost interest.
Then in my 20's life started happening and collecting got pushed aside.
Fast forward to 2002 when I needed an 8mm projector to play some old home movies. I went to this place called eBay and bought one. Then I wondered if this eBay place had coins and it turned out they did so I started buying. Since I could afford nicer coins now, one of the first I bought was a $2.50 Indian Gold coin.
I wasn't aware the Mint started doing Modern Commemoratives and I saw them on eBay. I liked them because each had a different design, so it was like a modern type set. PCGS had just started the Registry so I built a Modern Commemorative Silver and Gold Proof Registry Set. There were a number of PR69DCAM sets and a day before the award I sniped a 2001 Buffalo PR70DCAM and entered it in my set. That gave me the number 1 set.
The set cost me about $13,000 and I figured for that kind of money I could go back to classic coins. I sold it on eBay for $15,000 and started buying type coins. The 8-piece Major Variety Gold Type Set only had 4 sets so I decided to build one and get it Pedigreed. LordM had the same idea and posted it here that he was going to do a set in 63. I was doing my set in 64 so I told him I would wait until he did his so he could get a LordM Pedigree, but he lost interest and went in another direction. I used to post here as relayer (you can still see my posts pop up from time to time. I was an early adapter of his UNO thread).
I came up with a list of 184 coins from the Redbook that would make up my type set. The hunt started and I bought coins on eBay, dealer sites and at coin shows (mostly Long Beach).
In 2006 I got busy with my business and didn't have much spare time for coins. I came back around 2013 and went back to working on my type set. It is something I will never complete because it becomes cost prohibitive.
But I still work on it. The last couple of years I've spent crossing over & submitting coins so I would have a PCGS type set.
I haven't been doing the Registry, because I already know other people have more money than I do.
When D L Hansen started his type set, I discovered PCGS has a feature where you can import your cert number from a CSV file. Since I had that I uploaded my coins and started creating Registry Sets up the ying yang.
I figured I'd give D L a run for his money and added a type set 1792-1964 where I'm ranked #14
I like Bryce's Type Set Display. It's pretty cool. I pretty much buy coins, take pictures and put them in the bank SDB.
I think I'd be better off collecting coin pictures instead.
Great set. I like how you've gone with "major" types -- not a lot of with motto / without motto type of hairsplitting going on. Lets you concentrate on a smaller number of better coins.
Great type set.
I can name that tune on my type set in one note: Eclectic
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I've been working on a comprehensive 1793-1964 type set (including gold and minor and esoteric varieties) for 40+ years
More discussion of the process and some pictures are in this older thread: completed-the-dansco-7070-us-type-set-album
Liberty: Parent of Science & Industry
Originally it was just filling holes, then varieties, and now it is based upon eye appeal.
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I always dabbled a little in coins since I was a kid but it became so much easier to expand my horizons when the internet came along. I eventually embarked upon the goal of not only a type set, but a type set that included an example of each type from each mint it was available from.
At some point I became disenchanted and decided to sell off in favor of other interests. The nice thing is that I amassed a nice collection over a period of just about 8 years, though nowhere near the completion of my lofty goal. The coins I bought were not super pricey ones, but were absolutely the most eye appealing in the grades I could afford.
I made a small profit when I sold and thought I did pretty good for seriously collecting for what I feel was a short period of time. I attribute coming out ahead to being picky about eye appeal. About 8 years later I came back and have only focused on half dimes.
Great transactions with oih82w8, JasonGaming, Moose1913.
I just buy what I like. However for some reason or another I am working on a complete proof and circ nickel set with varieties. The proof side is almost done. Hard to find a good example of the key date shield though.
As of my type set, it's whatever I see that I think looks nice. You can tell what is from my earlier collecting compared to my most recent acquisitions. It's pretty obvious haha
My Type Set & My Complete Proof Nickel Set!
I have never done a type set... with all my career moves (geographical) and other interests it just never was an area that interested me. A few series (i.e. CC Morgans) and plenty of coins that I just like... some commems and definitely some gold.... Not sure I have the time or discipline to embark on a type set now. Cheers, RickO
Nice stories and nice way of displaying your type set.
I'm doing one in collectible holders - don't expect to ever complete it but having fun.
My 7070 collection has been evolving over several decades, even though it was technically complete with the gold page years ago. It includes pieces given to me by my paternal grandmother and father, a formerly gem MS 1917 SLQ that I ruined more than 45 years ago by overdipping (kept as a reminder of my stupidity), errors (clip, giant cud, off-metal, medal alignment, broadstrike, etc.), a nice chopmarked Trade dollar, an antique electrotype half cent, and I am slowly replacing pieces with contemporary counterfeits. It's something that will continue to evolve.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
Thanks.
Very impressive and a set with loads of flash and color.
There's a lot of coins in your set that I would never thing of upgrading. It'd be "gilding the lily"
_well said, and great attitude to have. btw the sets not bad either.
eBay ID-bruceshort978
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Thanks y'all for the comments and input so far. It's fun to see what makes people tick.
Hey Doc, good read and glad you are enjoying the ride!
Personally I've never had the bug for a type set as the cost would be prohibitive on my budget. So, if you cannot realize the goal then why start? So, stick with what I can afford, and enjoy that.
bob:)
Picked up my first Dansco 7070 today and started my set with a bang. Picked up my first Trade Dollar and a nice 58 flying eagle. I've enjoyed reading how everyone got their start. I'm shooting for AU or better but I know there are some of the coins that is not reasonable on my budget. Thanks for all the information.
Oh, I just picked up coins from Billy Hall and various dealers and assembled them in nice Capital Plastic boards and then sold them many years too damn soon!
But do I regret it?
Dang TOOTIN'!!!!!!
They look nice, especially that seated dollar, and all raw like that, wow.
Liberty: Parent of Science & Industry
Obverse, reverse, key dates.
I put together this 20th Century type set in a Capitol Plastic holder. I put it in a frame and have it hanging on a wall.
INYNWHWeTrust-TexasNationals,ajaan,blu62vette
coinJP, Outhaul ,illini420,MICHAELDIXON, Fade to Black,epcjimi1,19Lyds,SNMAN,JerseyJoe, bigjpst, DMWJR , lordmarcovan, Weiss,Mfriday4962,UtahCoin,Downtown1974,pitboss,RichieURich,Bullsitter,JDsCoins,toyz4geo,jshaulis, mustanggt, SNMAN, MWallace, ms71, lordmarcovan
Can I restart this old thread? My situation isn't unique: collected as a kid, got bad into coins a few times in adulthood, now I'm older and have a higher income, I'm back at it. I'm sure you've heard it before.
Like most people getting back into the hobby, I'm drawn towards type collecting. But I'm trying to find my niche, to make it interesting for me. I've been reading all I could about type collecting strategies, and found this thread. Can I share where I'm at in my process?
I know the typical philosophy is to find the highest grade of each type that you can afford. But despite having a higher salary now and being able to afford expensive coins, I have other financial goals and don't see myself competing in the registry sets. In fact, the competition aspect takes away my enjoyment. I find myself wanting to spend more for a number on a slab to get my score up. Also, I just realized that since starting this journey last month, I've spent $600 on a bunch of proof post-1971 coins that don't excite me, just to check off the box. I think I would have rather had one $600 older coin. It's time to refocus.
First, I think I have to get away from the registry set aspect. I like it as a checklist and to document my inventory, but the scoring aspect takes away my enjoyment. I'm never going to impress anyone with my score on my budget. I thought about an everyman set, going to AU58's, but I've been reading how the everyman registry collectors have jacked up those prices. That's still an option though, as I really like my 1917 Type 1 SLQ in AU58FH CAC. A good start for that set.
I get excited about the thrill of the hunt and the patience of waiting for the right coin for the set. Maybe eye popping AU58 CAC's, for example (to a point, I know my budget will be a constraint soon with that focus). I don't have enough money to invest to build an impressive collection, but I figured I can invest time to build one.
So I was just wanting to revive this thread and get others' ideas of how you did your type collection. What was your niche? I love reading about and discussing type collecting strategies.
Congrats on a beautiful set! It sounds like it's been a great journey.
My type set collecting is very limited now. I'm working on a toned dollar type set. Not sure when I'll get into others. I've been liking toned nickels so that might be my next type set along these lines.
Great read Bryce and great coins.
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Not much has changed since three years ago...except 19th Century Everyman and 20th Century MS.
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, Nickpatton, Namvet69,...
I have stopped buying significant U.S. coins, but I still love my collection, and continue to study it. I spent a few years working on a set of at least one coin for each British king. I have all but four (among those who issued coins) from Alfred the Great to Elizabeth II. Along the way I have compiled a notebook of British history.
Now I’m collecting the Roman Emperors. Their stories are better than any soap opera or epic film.
How did you do YOUR type collection?
One coin at a time, and I'm not done yet, it's a work in progress
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
As far as US, down to three four figure coins. Will need to stop there for a while before I tackle the five figure guys, but I do plan to finish. In the meantime, working on other sets of coins and medals based on a common theme, much like Mr. Jones' approach.
@Rob9874
I can relate to your observations. I show my coins in the registry, but don’t care about the competition nor moderns. My recommendation is to care more about whether a coin truly excites you and collect those regardless of grade. There is quality at every grade level.
Go slowly and wait for the coin that grabs you vs searching by type. You’ll feel less constrained and will then build a collection Over time that you’ll be proud to own. Let the coin choose you.
"Got a flaming heart, can't get my fill"
@Catbert Thanks, I've decided to do just that. Coin collecting is just more fun when you're not following someone else's set of rules. I hate the competition aspect of the registry sets, as I don't need a reminder that other collectors have much more money to spend on the hobby. I bought a Mercury dime this week just because I loved the look, and thought about how disappointed I would be if I let someone else buy it. I think I'll also sell all of my recent acquisitions of modern coins, that I only got because they were part of the set.
That's what I love about the hobby. You can change your collection as your collecting focus evolves.