What's next? Collecting priorities.
Pedzola
Posts: 1,028 ✭✭✭✭✭
Some of you may have seen my thread on the 1801 $10 I purchased recently - an unplanned purchase that was significantly more $$ than I have ever spent on a coin.
Since then I've been thinking about my collecting objectives and priorities. I had previously been collecting only 20th century gold, but now will look to eventually build a full US gold type set (may take several years!).
Right now it seems like everything is expensive. Is the coin market going to stay hot and keep rising or are we going to see 2019 prices again?
Many of the early gold pieces are very expensive, I will need to save up or sell other coins. So timing becomes an issue - having the $$ when the right coin becomes available.
There are definitely easier coins on the list - for example having focused on only 20th C gold, I dont have any of the gold $1 or $3.
I also have a 50% complete date set of $5 indians. These became about $1000 each more expensive over the last year, and are also getting harder to find. Wondering if I give up on this set to focus on type coins, or alternately try to finish as fast as I can as prices continue to rise, before it becomes even harder.
Any input appreciated.
- Will market continue meteoric rise in price for nice / cac gold? (buy asap vs wait)
- Focus on easier/cheaper coins or wait/save for harder coins first?
- How long do you wait for something to appear before moving on or settling?
- Anyone want to trade me a nice early gold piece for a handful of 64 cac $5 indians?
Comments
For reference, here is my OGH / CAC gold 8-piece type set: https://www.pcgs.com/setregistry/u-s-coins/era-type-sets/20th-century-gold-major-design-type-set-circulation-strikes-1900-1933/alltimeset/174178
And here is my incomplete $5 Indian set: https://www.pcgs.com/setregistry/u-s-coins/indian-head-5-gold-major-sets/indian-head-5-gold-date-set-circulation-strikes-1908-1929/alltimeset/238320
I have a couple of other duplicates but these plus my new 1801 $10 are basically my starting point.
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A few thoughts:
1) you will get all different opinions on here about what to collect and whether the market will go up or down. At the end of the day they are all just opinons.
2) I started a thread fairly recently and i am strong believer that 10,000 dollar plus coins that are pcgs/cac as well as condition census coins will go up very strong in the next 5 years. So to answer your question, I do believe the coins that you are thinking about will continue to increase and in my opinion rapidly.
3) Now that you bought some early gold you will probably have a harder time getting excited about less expensive easier coins to find. Based upon your comments its clear to me you want to go in that direction with a collection that focuses on those issues. I think that makes sense. I would be very very choosy and would try for pcgs/CAC coins for early gold if possible.
4) if you are interested in early gold you should go to doug winter's site and read alot of his older articles and blogs. Lots of good info on there (including collection ideas).
5) in the past I have sold collections to raise money for a new focus. In a perfect world that would not be necessary but sometimes it's necessary.
Good luck!
Two things have allowed me to extensively collect 1794-1839 coins in most denominations including some gold (completed 1807-1812 $5's and CHG $5's) :
I collect mostly in circulated grades, and have found than a gem AU55 is more satisfying than MS 60-63. For that matter, a perfect VG8 draped bust half can be as pleasing as an AU55 - although VG early gold doesn't exist.
I don't worry about matching grades for any type of a matched set. I actually prefer having a range of grades - which makes it more interesting to me.
CAC premiums are hefty and scarce for early gold, there is nice non-CAC early gold as you found.
My priority for my collection is to get a cc Morgan. Thankfully the local coin shop dealer put one aside for me to buy when I come over to buy it tomorrow Sunday
Nobody has the ability to look into a crystal ball and predict where prices will be down the road. If I did I’d give up my day job.
Buy whatever you like. Me personally, I prefer older pre-1870 gold in the 45-58 range with an emphasis on key dates. I’m not interested in top pop or condition census coins and I buy mostly CAC coins. 20th century gold, numismatically, does very little for me with its huge population.
Bottom line, have fun and be CHOOSY and PICKY. Some of your best purchases may be coins that you don’t buy.
Will market continue meteoric rise in price for nice / cac gold?
CAC is gold standard. Stay focused and consistent in your choices.
(buy asap vs wait)Focus on easier/cheaper coins or wait/save for harder coins first?
Wait and save.
How long do you wait for something to appear before moving on or settling?
I suffer alot more sellers remorse than buyers remorse. Sometimes it is painful on the pocket was well.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
From the description of the OP, I would personally sell off the partial sets and use the funds to buy the early gold, if I collected one or both.
That is an ambitious goal, especially with the parameters you have set. Good luck with your project. Cheers, RickO
My goal for now and for the immediate future is to complete my date set of Indian head quarter eagles. And then to get a nice PCGS slabbed AU58 Flying Eagle cent. Certainly not huge ambitions. Like you I have considered a set of Indian Head half eagles from 1908 thru 1916 but have settled instead on the quarter eagles.
Got 7 world bank notes graded by PCGs. All single digit pops. Many finest known. Grades 64-67. Preparing another batch.
Slabbed coins at budget quantity no purchases planned until some sell. Last addition a Mexico 1947 Peso NGC 65 low pop coin picked up around grading cost. Very easily a $100 coin.