US Type Set planning
mtbikerj
Posts: 10 ✭
I started collecting about a year ago. After a lot of reading and research, I decided to do two things. First, I started to go after the US Type Set and second, I decided to start collecting one of each year of modern types to keep me busy while building the harder to build US Type Set.
Curious what your thoughts are given the current silver price. Should I hold off on going after silver based coins in the US type set and focus my efforts on filling out the other slots? I've got a long way to go with my collection, so would be fine for a while going after cents, half-cents, quarters, and nickels to fill those out.
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Comments
I'm not exactly sure what you're saying but my advise is to get a Dansco 7070 type set album or similar album from Whitman etc. and focus on that exclusively. You may find that you like one particular series, Buffalo Nickels for instance, and change direction later, but for now, I'd focus on one thing at a time and learn as much as you can along the way.
I went this way and glad I did (albeit slowish) but happy with it
Start with whatever types appeal to you - it’s impossible to say if silver prices will rise or fall.
Just DO NOT fill holes. Buy quality coins for your type set
Thanks! yeah I did get the Dansco 7070 and that's what I'm focused on, except when I look at my pocket change and pop a date into a slot in the other folders I've got. I'm not going out specifically looking for anything but the stuff in the 7070 set
I doubt that older silver type coins with significant numismatic value have been affected significantly by the price of silver. Focus on those if you’re concerned that silver prices have a bearing. Consider quarters and under. Should keep you busy.
Ignore silver prices.
Ignore gold prices.
Focus on one thing for now - i.e. forget the moderns. Save that money to improve your US Type Set.
Learn as much as you can about each type.
Be flexible. If you find that one type appeals to you more than any other, you might choose to focus on that. But focus on that type exclusively for a while. Discipline is key and distraction is your enemy. When you don't stay focused, or you try to focus on too many things at the same time, you are much more likely to make purchases you later regret and lose money when you decide to sell them.
Eventually, you will develop your eye, your grading ability, and your confidence. You will become willing to pay more for better coins and you will know how to identify such coins. But this takes time.
Develop a relationship with a reputable dealer or two and learn from them.
Take your time. It's a journey.
I recommend getting a Red Book or old Krause catalog and leafing through the pages nightly. Take time to educate yourself, learn about the different series and whatever quirks catch your eye, then go from there.
Custom album maker and numismatic photographer.
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A agree that the best way to start is with a 7070 type set. It's a great way to present a history of US coinage. From my experience, non-collectors are very interested in a 7070 type set, and have to feign interest in looking at page after page of coins that look identical if you collect a series.
Thanks everyone! Very helpful advice! I appreciate it. Got myself a Red Book last year around the same time I got the type set album. I'll spend some more time leafing through it and learning more
Buy the best condition you can afford to keep….
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
Best to purchase a coin you are proud to own rather than a slew of coins no one is proud of.
Type sets are nice and the 7070 is a good place to start. In order for the coin to show all the details it needs to be Extra Fine or better. If you stick to the grade you want then there is no need to upgrade later. I did a 7070 years ago and found it lacking so I found a type set put out by Bowers and Merina that consisted of 15 Capital type holders called Kingswood.
I posted it here as "Finished My Type Set" a few years ago. I started the set at 1800 and for the gold it starts at the classic type. You might want to look it up. Anyway best of luck in your endeavor.
Gary
Wow, very cool set!
People should check it out.
https://forums.collectors.com/discussion/1004130/finished-my-type-set#latest
I don't know how much money you have, but if you are really interested in the type set, I would stick to that.
I have a complete type set of U,S. coins up until the time the U.S. Mint went totally crazy with all of the types they are issuing now. I started in the mid 1960s as a YN and finished in 2013. Yes, it took almost 50 years to build a collection from the half cent to the $20 gold pieces plus the "old" commemorative coins.
So excited for you.
I agree with others that you should buy great coins for you type album. However, here's another thought. When I started collecting, I was collecting for a morgan album, and for a walking half album, and I started buying slabbed coins I really like, and so forth and so on. I focused on multiple things at the same time. I had such a blast doing it. Every few days or weeks, I get a different feeling on what I want to do.
As a new collector, I had no idea the exact route I wanted to go. So I tried multiple things, and I am glad I did. The way to figure it out is to buy a coin you have no idea if the price is right and then research it and learn about it. Have fun with it. Try a bunch of stuff. Dial in and narrow in later. I love collecting currency now. I would have never known I loved currency if I hadn't bought my first note or two and experimented a bit.
You might spend most your time on the type album, but experiment with other stuff too so that you have to learn about them.
Thanks everyone, this is great and encouraging advice. I appreciate it.