Better Type Set Strategy?
SIowhand
Posts: 350 ✭✭✭✭✭
Say you want to put together a small type set. In this case, a half eagle set, one from each mint.
Would you advise it is better to buy the highest grade coin from each mint you can afford, or willing to afford, knowing that a couple of the branch mint pieces are not obtainable in MS grades at an amount of money I'd be willing to pay.
Or, do you think you could build a more meaningful set if they are closely matched, say in nice choice AU grades across the board?
I'm leaning to a carefully matched AU set. But on the other hand, a couple of these coins can be had in gem MS grades for not a ton of money.
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I’m sure there will be a lot of opinions in this one. Mine is to buy the best you can reasonably afford. While I appreciate the idea and sight of a visually matched set it isn’t a goal for me.
Either choice can work and there are benefits to both (some of which you have mentioned).
I'd say go with whatever way is most appealing to your taste.
I decided to do a US type set and basically had the same question - try to match grades and looks, or just get an nice example of each, within my budget? I'm still missing a few key coins such as the Chain cent, early gold issues, and such. There's no way I'll ever get those in anything approaching MS grades, so I just decided to get the nicest examples of each coin that I could reasonably afford. The more modern coins are therefore in much better condition than the early issues.
Along the way I discovered a great secret - higher graded coins aren't always better. It's a lot more fun to have a Dahlonega Liberty half eagle in XF45 than a gem common-date San Francisco coin. I can think of three or four times I've sold a coin to after purchasing a lower-graded coin I liked better.
It's your collection, and pretty much, the goal as far as I can see it is to have fun. Don't make too many rules and don't listen (too much) to what other people say.
I am doing pretty much the same thing. I would go for AU with an eye to lower mintage and survival numbers. I really like the Philadelphia issues from the 1840’s for scarcity v price in half and quarter Eagles.
I put together just such a set of $5.00 gold last year. I bought nice examples that typify the time period, or age of the coin (my rationale for not spending above my comfort level). Same as I've done for my conventional type set. The Denver is a 63, the Dahlonega is a 30. When I lay them out together, I'm happy.
Great question. I prefer a nicely matched set myself.
To me, it's much nicer to view a matched set all at one time, vs having grades scattered all over the board.
Dave
It all depends on the set, different coins of different metals can still look very pleasing when the grades are more scattershot, but a typeset that is all one metal or type then I prefer a more closely matched set grade wise.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
My preference as well, but alas my Ike dollar isn't closely matched to my DB or FH dollars. Although I guess I could find a slabbed Ike in VF25-30, I have settled instead for a "graduated" set of increasing wear over increasing age (like me).
As noted often above, there’s no right or wrong. One other factor to throw in - should you go for the highest grade you can afford, which would then be a common date, or should you go for a tougher date for that “Type”, meaning you would then get a lower grade? My personal decision for my digital Dansco 7070 Type Set was to go for the higher grade with nice eye appeal (in general), even though that meant common dates, rather than tougher dates in lower grades. As noted there’s no right or wrong. Decide what pleases YOU!
Happy Hunting!
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
I give a lot of thought to strategy, and for me, I feel my collections reflect a combination of my collecting efforts and the coin market. When a set is finished, I accept that a hard-to-find coin will be at a lower grade as a reflection of scarcity and the market. If some dates are affordable in higher condition, then my collection will reflect that with better specimens. So my strategy is to let the set reflect the realities of what I'm collecting.
My strategy is about collecting what I intend to keep, not investing in what I plan to sell.
Sets are made to eventually be broken up. I'd make sure each coin in the set stands on its own merits. If I was putting together that set, they would probably be different grades. I would justify it by knowing that they came from different places, different times, and arrived into my set under different circumstances.
I would go with what you think you'll enjoy. For myself, I would personally go with the best condition reasonable because I like looking at things that are more visually different.
Thanks for the input.
Like most things in life, the best answer is just do what makes you happy. Now if I can only figure that out
You are the one who has to look at them, so make sure you come to grips with which coins you’d rather look at.
I think matched sets are overrated. Each one in the nicest grade you're willing to afford seems best to me. It's your set though, so whatever you want is the right answer.
Unlike Mark's post directly above, I very much appreciate matched look / matched grade sets (plus or minus a couple points), but as was also mentioned, I would be looking at better dates for the ones that weren't cost prohibitive in the grade range you select.
I think if you can do Choice AU, it could be a fabulous look and feel.
Of course, you might want a Gem representative, and there's nothing wrong with an extra or two!
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242