My take on assembling an NGC registry type set on a budget.

[EZ_E]

Here's my perspective. I've spent 6 years working on my type set. And, although I was far from being rich, I made good bucks traveling as a CT/MRI/x-ray tech. I'd clear between $1500-2000 per week and still could not afford lots of the coins that I wanted. My registry type set is worth ~$65K. So, if you realisticly want to finish your set, then I'd concentrate more on the affordable coins. This doesn't mean that you have to compromise the eye-appeal.

 

Now I’m thinking that my type set should be the right coin for the series as opposed to all the same grade coin e.g. maybe my DBHs are perfect in vf/xf but my Mercury dime could be MS-66 heck maybe PF-65.

 

That's exactly how I approached my collection. I wanted as many proof late 1800 coins in cameo that I could afford. I succeeded in this goal pretty good. In the end, I did compromise on grade with lots of the with arrows types but I still sought nice, circulated examples. I especially love my 1874 dime even though I only have $200 in it.

 

So, for you, a proof 66 Merc is affordable and I think that you should also save 2 months for a proof Barber quarter and dime in PR64. I'd avoid a proof IHC since they are all jacked up mainly. I'd get a nice MS example instead. Same with the '09 VDB. I'd also recommend that you shoot for as many Seated Liberty proofs that you can afford. They have great potential and never reached their potential even in this lastest long bull market. A PR64 half should run you $1500 and the same quarter maybe a thousand. Shoot for a proof Barber half, too, if you find a nice one. Always try for cameos if you can. If you're going for a complete NGC registry set like I have then I'd shoot for nice, circulated cameo XF's for the rest of the needed halves.

 

The early coppers from the Draped bust on should be VF's, matched set, I think, even though you can get MS examples from the Randal hoard for $550 for a 63. I think that it would be pretty to have matched coins, especially since the 1808-14 types are very tough and very expensive in the higher grades. I really don't care much for my 1812 but they're difficult to find.

 

I'd pass on all of the earlier types right now since they are so expensive and in high demand. Their prices are still going up! Early half dimes are nearly impossible to find in affordable grades, problem free. I've never found any of the 3 types that I need.

 

I'd avoid proof dollars except for the moderns, of course. They're too expensive. I'd give the same advice as for the Lg Cents (and half cents), go for nice circulated cameo mid grade coins, even for the Morgan and Peace dollars.

 

You can easily afford proof cameo Shield and Liberty nickels as well as a proof 3CN. A ms 3CS is affordable in mintstate, still, I'd shoot for nice, original AU's for the 3 types needed for the 3CS series.

 

Well, there's a few years of collecting mapped out.

 

Let me know what you think.

 

p.s. As an afterthought, I'd recommend working on the NGC registry type set modeled after the Dansco 7070 and not attempt the complete type set like Bill Jones and I have, for most people, that is.

 

p.p.s. I wasted lots of time and money going off on tangents during this collecting period. Stay focused on your set and don't stray much.

 

Of course, TDN and Boiler76, please, completely ignore all of my advice!!!

[WinstonWare]

Great post. Thanks Victor!

[EZ_E]

Hey, Winston, regardless of one's collecting goals, I'd highly recommend concentrating on the affordable proof issues from the late 19th and early 20th centuries if one is pursuing a type set. I can't imagine any downside whatsoever, if nice coins are purchased in the PR63-66 ranges. Cameo designated proofs are always preferable, IMO.

[Coindude]

Well put Vic. I love the classic proofs in cameo as well. If you take a look at my registry that's what you'll find. New stuff is exactly that... new. And the older stuff is for me eye appealing yet not so perfect.

[EZ_E]

You should put a link in your sigline, Samuel. (thumbs u

[Coindude]

Not a bad idea, I'll do that when I get home, can't do it from work!

[World Colonial]

Your initial post is exactly the reason why I not even bother with trying to complete a US type set. $65,000 is far more than most collectors could ever afford on a collection. Its more than I have now in mine, though I have cut back a lot in the last 18 months.

 

But perhaps you are in a similar situation to mine. The sets that I have started I can never complete but in one sense, I have come too far to stop and switch to something else. I'll just have to scale down my definition of complete set while also lowering the grades on some of the issues.

 

On the 19th century US proofs, by US coin standards the ones you reference I consider affordable or they were since I do not even know what they cost now.

 

But I do not consider most of them after 1858 to be particularly scarce because most have mintages of about 500 or more. That's almost always more than an ample enough supply to give every collector who has the capacity to buy them and who wants one an opportunity to do so. But I would buy the cameos if I were a buyer. The premiums are modest and they generally look better.

[Dwaine]

What I have started doing is collecting year sets in proof condition. It is a great way to try and fill in a lot of the slots in the type sets plus I create registry year sets for the years I am collecting.

 

Currently I am working on 2006 for the moderns, 1900 and 1870 for classic's.

 

Great post.

[bsshog40]

Great post Vic, and I think you forgot to mention your dedicated diligence also!

[EZ_E]

Great post Vic, and I think you forgot to mention your dedicated diligence also!

 

Bobby, is that a euphemism for the nerd factor?

[TomB]

I believe I received the same PM from the same person, but I gave different advice.

[EZ_E]

I'd like to see what you posted, Thomas.

[bsshog40]

Great post Vic, and I think you forgot to mention your dedicated diligence also!

 

Bobby, is that a euphemism for the nerd factor?

Nothing nerd about it my friend, just hard work for something to be proud of. (thumbs u

[EZ_E]

Right back at ya, Bobby! (thumbs u

 

Thanks for that. And, you're right, of course. It does take focus and diligence to complete most any numismatic endeavor, unless a set is purchased complete. I think most would agree that the pursuit is as rewarding as most anything in coin collecting. It provides excitement and adventure. Yet, there is satisfaction in closing in on one's goals. I still have some big coins to go for my type set, some of which I will never get. Still, it is rewarding to have the coins that I do and it is nice to know that that is less bucks that I need to spend towards the set. Know what I mean?

[WinstonWare]

I believe I received the same PM from the same person, but I gave different advice.

 

It wasn't exactly the same although I did leave that and a few other sentences the same as they were what was on my mind...

[michael]

victor great posting