$500-1k budget - what’s more intriguing to you?
ShaunBC5
Posts: 1,825 ✭✭✭✭✭
If you were building a collection and buying a few coins a year with each coin being in the $500-1k budget range, which approach would you want to take?
This is intended as a collector view question.
Let me know why you picked what you did!
(I am not voting now because if I knew, I probably wouldn’t have created the poll)
edit - realized I didn’t give an option specifically about staying in one series and building that to completion. My bad, put it in your comment if that’s you. Also, I removed a sentence that was useless.
$500-1k budget - what’s more intriguing to you?
This is a public poll: others will see what you voted for.
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I need an MS65 1890 Morgan
I always have coins in mind that I am looking to add to my collection. However, if I see something with really good eye appeal or an interesting story, I have no problem straying from that list.
None of the above would intrigue me. Perhaps high grade commons from a series I would ultimately want to finish that isn’t cheap, but without uber expensive keys in high grades.
Keys are the way to go!
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
A Peace dollar set.
It seems to me that you haven't decided on what to collect, so I'd recommend purchasing coins that catch your eye until you settle on a series you like, including type collecting.
A 20th century type collection featuring key dates would be interesting.
I recommend a type set of odd denomination coins, i.e. the historical denominations that the U.S. Mint has produced, but that are no longer used...half cent, two cent piece, three cent nickel, three cent silver piece, half dime, twenty cent piece, etc. It would be a collection that is historical, meaningful, and has variety. Of course, get the best grade you can afford, but the grade is not as important in a collection like this because each coin tells a story. As your collection progresses, you can trade up to nicer pieces and/or add the gold denominations.
Limit yourself to having a box of 20.
I would have gone with "whatever catches your eye" when shopping but that can lead to expensive mistakes. I think it helps to have a strategy. However, I do think you should buy what speaks to you.
All comments reflect the opinion of the author, even when irrefutably accurate.
Whatever catches my eye on the day. Some times that's when I find a good coin 🪙
It's hard for me to say... It would be highly dependent on my current "needs" and the dealer's inventory. But, if it doesn't catch my eye... I am probably walking out of the shop empty handed.
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I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
If you want to participate in the hobby on that budget, you’d need to buy lower value coins that you like.
If you’re thinking of an increase in future value, you should buy one key date per year in the best grade that meets your budget. But that wouldn’t be much fun.
Why? I don't see any reason why you have to buy anything at all to "participate in the hobby". But you certainly don't have to buy lower value coins.
All comments reflect the opinion of the author, even when irrefutably accurate.
The OP suggested that coins would be bought— thus my answer. When I was raising a young family and couldn’t afford coins at all, I participated by reading Coin World, Bowers & Merena Rare Coin Review and the odd book here and there.
With $1K you could get a choice MS semi-key Morgan. That would be my pick.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
I voted “Common” low-mid grade from expensive series“ because that’s the closest match to what I actually do. My main focus is/was type set coins from the 1800s with great “first impression” eye appeal graded as AU . I say is/was because I already have examples of most types of 1800s coins already. I still upgrade if I see one with even better first impression eye appeal, but only still need a few that are super rare and more expensive and have sort of moved on to modern ones (as in 20th century) in AU with great first impression eye appeal just to give me something to do.
Mr_Spud
don't be shocked when I suggest Seated coins. Hear me out.
You can cherry pick low certified population (less than 300) XF-AU coins.
You can add Die varieties, rarer date and mintmark pieces, plus featured top 25 quarters, top 100 dimes, etc.
You can at some level afford all denomination.
You could spend 10 years and a 100 grand and still not be out of choice coins to collect. James
Trade dollars in VF. There are a couple of dates that would go a bit over the budget in F but it's a fun and challenging series with only 17 coins for a full date/MM set.
chopmarkedtradedollars.com
With that budget, I would be looking at a box of 20 type approach where I would be looking to find 1-2 amazing coins a year to buy. It could be a lower grade key that was particularly eye appealing for the grade, or a high grade coin from a more common series. It would be whatever spoke to me, but I would be looking to be extremely selective.
Thanks for all the great responses, everyone.
For this scenario, you/I will be buying a few coins a year in this budget. There’s no interest in waiting 2 years to buy a single $4000 coin.
There’s also hope of an increased budget in 4-7yrs…but who knows?
There are so many coins that I enjoy, I’m appreciative of hearing how you would do it if you were at this point in your collection.
I’ve been operating close to this space for a little while and kind of doing a little of all the options. I feel like I need to focus a little more, but I’m not really sure.
I am working on three "sets" at the moment (all PCGS slabbed). A high grade type set, a low grade key dates set (1909-S Lincoln Cent VDB, 1922 Lincoln Cent No D, 1937-D Buffalo Nickel 3 Legs, 1916-D Mercury Dime, 1942/41 Mercury Dime, etc.) and a high grade variety set (2023 Lincoln Shield Cent Extra V, 2005-D Jefferson Nickel Westward Journey Speared Bison, 1945-S Mercury Dime Micro S, 1982 Roosevelt Dime Clad No P, 2004-D State Quarter WI Extra Leaf High, 1982-P Kennedy Half Dollar Clad No "FG", etc.).
What you should do is pick a lane that you are pretty interested in and try that. As you can see, I picked more than one lane!
Would be for filling a hole in my various Capital Holder collections.
I would get a low grade coin from an expensive series.
I’m a bit surprised at the low number of “key/semi key” voters. I thought that would be more popular.
I’m also surprised at the number that would fly by the seat of their pants like I have been doing.
I would consider taking this in a different direction... I would consider a box of 20 for each century starting with the 17th century and ending with the 20th century. That would be 80 coins one could select to represent World History, Art, Design and the general progression of coin production. Now that would be a fun project... start with something like this:
And you could end with something like this:
And make stops along the way with this:
I don't have much in the way of US coin images to add... but as you know, there is so much to consider.
Best of luck with your collecting endeavers
Experience the World through Numismatics...it's more than you can imagine.
At $500-1k, most keys are not going to be very nice.
The best purchase right now is the Laser silver eagle still available, and the Navy and Marine Corps silver eagle coins later this year. All 3 are semi-key coins that will be worth double or more once issued
Here's a thought.
Late 1820's ('25 to '29) Capped Bust Half in AU53 to AU58, with good skin, mostly or fully original surfaces, a little color and pleasing eye appeal.
Stick with PCGS ... and add the CAC bean if that's your thing.
P58cac's could break the budget, but attractive 53's and 55's shouldn't as long as you stay away from rare Die Marriages.
Everything from hammered Early Die States to Late State "Crack Monsters" can be found.
Consider what you are getting: Early Federal silver; big, beautiful and attractive; sought after grades with most or nearly all of the design features, little wear and plenty of luster left.
Pretty good deal if you ask me.
“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
I think this is just more overpriced stuff from the mint. I do not think there will be a healthy aftermarket .
Agreed.
God comes first in everything I do. I’m dedicated to serving Him with my whole life. Coin collecting is just a hobby—but even in that, I seek to honor Him. ✝️
Presales are going for $190 on Ebay, so there is a healthy market for the laser coins already.
I like this, but I'd include the common dates from the 1830s. Greater chance of having an AU 53 or 55 with original skin, as many AU 58s I've seen have been played with to try getting them into Unc. holders. Yes, PCGS only in this series.
"Seu cabra da peste,
"Sou Mangueira......."
Mid-grade from what can be an expensive series subset e.g. MS63-64 BN Lincoln Satin Proofs. Doesn't include the 1909 VDB unless you have a 17 month hiatus saving for this final coin and there's one to be found.
USAF (Ret.) 1985 - 2005. E-4B Aircraft Maintenance Crew Chief and Contracting Officer.
My current Registry sets:
✓ Everyman Mint State Carson City Morgan Dollars (1878 – 1893)
✓ Everyman Mint State Lincoln Cents (1909 – 1958)
✓ Morgan Dollar GSA Hoard (1878 – 1891)
If the whole annual budget is $500-$1000 I'd recommend a type set. You could do common dates in AUish condition and make some decent progress annually. For non-coin people, a type set is interesting as it shows all the different changes to the different denominations. This is more appealing to non-coin people than an album full of the same coin over and over.
Additionally, if one series jumps out, you can always start that project if/when the budget increases. I agree with the sentiment that most key dates are going to be outside the budget, and even if not, buying 1 coin a year may temper the enthusiasm.
Just made a quick edit to the initial post for clarification.
It’s a few coins a year in the )500-$1k range, each.
Loving all the suggestions and hearing what y’all do or would do!
Type sets are for non-coin people???
Please explain this
Mike
My Indians
Dansco Set
One other thing to take note of where Seated coins are concerned. Besides the standard issues, the going prices for mid to low grade Seated proofs (Pf-60-63) have been frozen in time practically this entire Century. Hard to believe these stagnant prices will continue for ever. James
Thanks @seatedlib3991 proofs are something I’ve collected in the past and certainly would again.
This is how I end up with a smorgasbord of coins.
I sold 2017 EU sets for $50 each in the after market. They currently sell for $20 ($25 issue price). That is despite having a Lincoln cent with a mintage of only 200,000.
The word "key" gets thrown around rather loosely with these moderns. A normal proof ASE had a mintage of 400,000 ÷/-. There are now THIRTEEN with mintages less than 200,000 and EIGHT at 100,000 or less.
The number of regular issue proofs sold has dropped in b half in the last 15 years. If that continue, by 2040 200,000 will be the norm. Mintages dropping because demand is dropping does not create "keys".
The 2019-W Enhanced had a mintage of 100k and sold for $150 raw. That is not "double or more" of the current issue price.
All comments reflect the opinion of the author, even when irrefutably accurate.
I just bought this in your price range
All comments reflect the opinion of the author, even when irrefutably accurate.
At this price range I would start looking for upgrades to my raw Peace Dollar set. Might even consider starting on a graded set of Peace Dollars.
Eye appeal is the most important sole consideration when buying or selling, with price secondary to that if you stick with the right coins. IMHO.
@giorgio11 what kind of coins are the right coins?
You got on deal on that
The ones with superb eye appeal!
Lol. I don't know. Hard to find any comps. It's an unusual type, but I've always loved the Venetian lion.
All comments reflect the opinion of the author, even when irrefutably accurate.
Gotcha @giorgio11 I thought you were saying there were the “right coins” that needed to be bought with eye appeal, not just that eye appeal made them the right coins.
It does if it ends being the lowest mintage coin.
However I agree, and would sell the current coins being released for the profit right now. Nothing is worse than buying a lot of coins and when it comes time to sell seeing them only be worth 50% of what was paid.
I was thinking box of 20 - but I chose "none of the above," because I think you can do it with more intention than just finding what catches your eye. (Personally - when in the past I went "bargain hunting," I got bargains all right - but that came in the form of coins I couldn't sell and didn't love).
Getting something special and unique always held my heart. So I'd never go for a set of MS70 moderns, because my set would look exactly like anyone else's set.
On the other hand:
"Silver type set from the year my great-grandmother was born" would make for a cool forum post someday...
My (infrequently updated) hobby website Groovycoins.com
Looking at their PCGS/NGC populations, how do the prices of Seated proofs compare to their MS twins?