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Can you afford to complete your collection?

MrEurekaMrEureka Posts: 24,801 ✭✭✭✭✭
Lots of people start collecting a series without figuring out if they can afford to complete it. How about you?

Can you afford to finish your sets?

If not, should you switch gears?
Andy Lustig

Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.

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    Mine is a passion! It will/has take(n) a long time to get to the halfway point. I believe I have enough $ resources to complete!
    Constellatio Collector sevenoften@hotmail.com
    ---------------------------------
    "No Good Deed Goes Unpunished!"
    "If it don't make $"
    "It don't make cents""
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    NysotoNysoto Posts: 3,833 ✭✭✭✭✭
    Completion is not necessary to enjoy the series you like, no need to get hung up on the key dates. I will never complete a bust half die variety collection, but I still enjoy the series more than others, and will complete a year set (less the 1796 & 1797 small eagle!).
    Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
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    ccrdragonccrdragon Posts: 2,697 ✭
    Does it matter?

    Life - and coin collecting - is a journey and not a destination, then I say it doesn't! I will enjoy the journey for as long as I can (and if I start many different sets along the way, so much the better!!!)
    Cecil
    Total Copper Nutcase - African, British Ships, Channel Islands!!!
    'Do not meddle in the affairs of dragons, for you are crunchy and taste good with ketchup'
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    nwcsnwcs Posts: 13,386 ✭✭✭
    My collection is never ending. So I'll never complete it. And I couldn't afford to complete what I even really want to complete.
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    prooflikeprooflike Posts: 3,879 ✭✭
    With my current endeavors, no on the Morgan set and doable on the modern type set.

    image
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    haletjhaletj Posts: 2,192 ✭
    No! Well, not as soon as I wanted! I set aside 6-10 thousand for a Lincoln Cent Set with Full Red Bu P-s and 63rb on the rest, maybe even ms60 or bn on some more expensive dates. I planned to get the key dates first, but what I ended up with is a 64 red 09-s vdb and a almost full red 64rb 14-d. Now I plan for my set to be almost all 64rd with just a few mostly red 64rb's. Already spent slightly over 10-thousand, need 26 more coins, 7 more tough s coins and 3 or 4 tough d's. Need to save up for a year and then maybe can finish. I'm worried though because I keep getting more and more fussy about the coins for my set, and I hope I don't decide I need to start buying only full red gems! Then I'll never finish! BTW I'm #61 in the Lincoln Registry ("Lincoln Cents").
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    Finishing a set may be an ultimate goal, and I normally finish Moderns pretty fast. However, I often work on several sets at once and finishing them may not be a priority as large as the challenge of finding coins that I like for them.

    Affording the coins is a personal decision as to what meets your standards, but normally finishing a set should not be the primary driver for purchasing coins lower than your standards for the set. I do not always start a set based on what I can afford (i.e. Saints) but on what I like to collect. Finishing the set is not as important as getting as far as I can.

    Sometimes I do switch gears, but sets that are not a challenge to finish I find boring.
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    I hope I never complete it..That's what collecting is to me...always looking for the better coin,....
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    BAJJERFANBAJJERFAN Posts: 31,694 ✭✭✭✭✭
    Morgan set finished. Lookin to maybe get some better specimens of some coins, mite add a couple major varieties and thinkin about buyin some better date coins with the hope they will increase in value.
    theknowitalltroll;
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    ColorfulcoinsColorfulcoins Posts: 3,377 ✭✭✭
    Ditto to comment made by Millennium.
    Craig
    If I had it my way, stupidity would be painful!
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    Still looking for the 31-s toned purple for my 1 per year set in purple. ;-) The closest I've come is a 31-s that was purple that someone had put in a rock tumbler or something, and removed most of the purple "skin". Could always use a few "upgrades" for the set. ;-)

    Who said completing a collection should be expensive, just fun.

    image

    guess the picture won't work, heres the link:

    my_purple_buff_set.jpg
    ------------

    My Blog
    ---------------------------------
    90% lurker, 10% poster, 100% American!
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    SethChandlerSethChandler Posts: 1,722 ✭✭✭✭
    Yes, well maybe. Every "collection" that I have started definately has dollars earmarked for it. Except one, the 1870-CC Twenty. I have never spent more that 100k on ONE coin, but the thought of it scares the hell out of me. Its the perfect coin for me. It costs anywhere from 100k to 150k. I have patience and have had a few opportunities to buy it "right".....but I just didn't have the b*lls to pull the trigger. When I first started, nice ones were going for 25k. In the Dallas Bank sale, I must have examined the 70-CC for one hour....nice XF45 "shot" 50. Heck, I even wrote 125k max bid next to it. The coin sold for about 100k, idiot...

    Hey, I'm 31, there will be plenty of time.

    Seth
    Collecting since 1976.
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    FatManFatMan Posts: 8,977 ✭
    Interesting question. I don't think in terms of completion. My interest is in the journey. My collection will only be complete when I tire of collecting. I suppose I am fortunate to have adequate funds to support my collecting. My collecting tastes do not place an undo burden on my available funds. Maybe someday my hobby may turn into an obsession where high dollar coins will present financial challenges, but I do not foresee that happening anytime soon, if ever.
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    flaminioflaminio Posts: 5,664 ✭✭✭
    I can afford my Modern Commemorative collection. I won't be able to afford to complete my Classic Commemorative collection -- I'll never pony up the money for the $50 slug. But I should be able to get all the rest...
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    It's the process, not the end. I've completed a few and know I will never complete some (although it still pisses me off Dansco included the 1895 hole in the Morgan books since that is not a circulation strike.... but I digress.... I love this hobby).
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    coinlieutenantcoinlieutenant Posts: 9,329 ✭✭✭✭✭
    It is a big maybe for me.

    We have a long way to go but are progressing.

    The proof lib double eagle, eagle and half eagle are going to take forever to save for but where there is a will there is a way.

    John
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    The only way that I will be able to complete my Indian Head Cent Registry Set in MS65RD is if I can convince David Hall to do a short set starting in 1879. image Can't get myself to buy non-MS non-red IHCs.
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    stujoestujoe Posts: 1,510 ✭
    I figured out before I even started that the answer to that question would probably be "No, I can't ever complete it." but it doesn't bother me and with 1050 complete out of about 1300 needed (so far), I am at least making progress and having fun. image
    Time sure flies when you don't know what you are doing...

    CoinPeople.com || CoinWiki.com || NumisLinks.com
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    NO i will never complete it. If I did what would I do next.image What would you do if you had one of everything ever madeimageimageimage

    DAN
    United States Air Force Retired And Would Do It Again.

    My first tassa slap 3/3/04

    My shiny cents

    imageThe half I am getting rid of and me, forever and always Taken in about 1959
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    BearBear Posts: 18,953 ✭✭✭
    I cant even afford the collection I already have. The dealers on this Forum are

    driving me crazy. They keep showing beautiful coins on their websitesand I keep buying them.

    Its not fair I tell you. I have been bewitched.image
    There once was a place called
    Camelotimage
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    bozboz Posts: 1,405 ✭
    I have completed my CC Morgan collection. Will still look out for nicer coins though to upgrade. Along the way I have bought some high grade/eye appeal coins. In other words coins I just like. Like a professional college student, these will never make up any kind of registry set. But maybe in the end I can piece some of them into some kind of type set.image
    The great use of life is to spend it on something that will outlast it--James Truslow Adams
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    NicNic Posts: 3,438 ✭✭✭✭✭
    No. I think I woul be sad if I ever did. Hate to compromise. K
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    LanLordLanLord Posts: 11,756 ✭✭✭✭✭
    My collection is kind of like the Winchester Mystery house. If I ever complete it, I will die.

    Okay, to be a bit more serious, eventually, I will have the finances to complete it, if things remain as they are now. There is no way I could complete it this year, in that sense it is a long term goal, a thing of love.

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    Can I afford to complete my collection? My current collection -- Absolutely!

    I always choose a series based on the visual appeal for the grade balanced against the cost of completing the date run. The series I am currently building is a choice fine set of Walkers. I have been building this set for the better part of a year now and am only at 70% set completion. I have been told I am picky, however, I am choosing each piece with very strict criteria. When completed, the set will be perfectly ( as close as humanly possible ) mathced in grade as well as eye appeal. Below I have included a sample from the set to illustrate what I am going for:

    image

    The personal satisfaction felt after completing a set is overwhelming. Once I finish this set, I will undoubtedly move on to another. Its the thrill of the hunt that I enjoy. image
    The NumisAddict - Resources for people passionate about coin collecting!
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    cladkingcladking Posts: 30,347 ✭✭✭✭✭
    I'd like to complete a clad eagle reverse quarter collection in gem (with varieties).
    It's probably impossible since several of the coins probably don't even exist in unc
    much less gem. There is one unique coin, and several which are very rare. These
    will not be cheap when they come on the market so they may not be affordable for
    me.

    To me collecting is much more about the journey and the landmarks, memories, and
    people I meet along the way than about the destination.

    I'll keep working on it.
    tempus fugit extra philosophiam.
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    rainbowroosierainbowroosie Posts: 4,875 ✭✭✭✭
    I have one Eliasberg coin, what will it cost me to pick up the rest of the set?image
    "You keep your 1804 dollar and 1822 half eagle -- give me rainbow roosies in MS68."
    rainbowroosie April 1, 2003
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    RYKRYK Posts: 35,801 ✭✭✭✭✭
    The recent price increases for Dahlonega half eagles means that it will take me longer to complete this set than I expected. This, along with my New Orleans gold type, CC decade/denomonation set, and New Orleans No Motto eagle sets, should take 5-7years to complete considering my budget and the availability of coins. If the coins continue to rise in price, my time frame will be further stretched. I would rather not compromise by purchasing problem coins. I have calculated the expected the cost for each and anticipate that I should be able to fund the purchases.

    Robert
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    I doubt that I ever will get everything that I want even for my 1872 set,
    let alone for my complete type set; however, what would be the fun of
    collecting if you could just go out and buy whatever you wanted? Hunting
    down a mint state 3cs from 1872 is as fun as hunting down a AG3 72-CC dime
    in my book. (And I've done them both.)
    Robert Getty - Lifetime project to complete the finest collection of 1872 dated coins.

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