How to assemble a 'type' collection-help needed...

[mintcollector]

Hello,

 

I have a quick question that maybe some of the members of this forum could help me with. I have slowly been getting back into coins (I started last year). Currently I am collecting certain 'key' Peace Dollars and Carson City Morgan Dollars between grades MS 63-66. It should be know that I do NOT like 'toning.' This is a personal decision of mine.

 

That being said, I was thinking about putting together a 'type' set of US coins from the early days all the way up to the Walking Liberty Halves (nothing later).I would NOT be collecting Copper coins; ONLY silver and gold. The focus grade range is MS 63-MS 66 and my budget allows me to spend up to $750 to $1500 per coin; if needed (obviously a little more when we get into higher end 'gold').

 

These would all be graded and certified of course. That being said, what would be the best way to do this? Focus on keys and semi keys? I already have a wonderful 1921 Peace Dollar NGC MS 63.

 

When collectors assemble these kind of sets do they focus only on keys and semi keys or do they just collect the best specimen of each kind of type coin they can find?

 

Also, I would like to build a collection that will maintain and possibly build value over time. This is important to me; as I have focused on this while building my currency type set (and even my comic book collection).

 

Any thoughts or recommendations would be appreciated. I am almost done my graded currency type set and love it! I even have some complete issues (i.e. 1923 silver certificates, etc.)

 

That being said, coins are a difficult hobby to collect for; especially when you are like me and prefer NO toning; fully brilliant coins. Yes, I am a picky collector. This is especially true right now, when 'toning' is all the rage.

 

Any help is appreciated.

 

Kind Regards,

 

'mint'

[Lastufka Collection]

When collectors assemble these kind of sets do they focus only on keys and semi keys or do they just collect the best specimen of each kind of type coin they can find?

 

You will find both.

 

I am currently working on a First Year of Issue type set, so my options are already limited and defined by the type of set I'm trying to put together - first year of issue for any design or metallic composition change.

 

My friend Brandon is currently putting together a type set that is the finest specimen he can find, even if it's a super common date (usually the easiest and cheapest).

 

So it's really up to you.

 

Also, I would like to build a collection that will maintain and possibly build value over time.

 

Then you should buy the highest graded example of the key dates that you can afford for each type. Common coins will always be common, while key dates will always be in a higher demand. And **SHOULD** appreciate better over time. Of course, none of us can predict the future, but this is my opinion and it dictates how I collect. I could have purchased a 1909 VDB cent in MS 66 RB for about $100, but I chose to buy an MS 67 RD for $1,000 because when I choose to let go of my collection, an MS 67 RD will be much more attractive to other collectors than a MS 66 RB.

[Dudley the 1st]

I think it really comes down to how much of a bulge your wallet has. That said, your fortunate today to have the advantage of technology and the Internet on your side. Using that technology effectively to view offerings from the best auction companies gives you a tremendous advantage over early collectors. Remember to have patience, and always buy the best you can afford and not the holder but the coin.

[ldhair]

I like the look of a set with matching colors. If you do a set with no toning, that's not a problem. It will be tough to build a set with key dates at only $1500 each. At the same time I feel key dates will hold or increase in value over the years.

[BillJones]

I have the only complete half cent to non gold dollar type set on the NGC registry that runs from 1792 to date. And I have all but one of the gold type coins (1795 to 1933). I've been working on this set for 50 years with a number of up-graded coins over that time. You can click on my footer to look at my coins. Every piece is photographed.

 

First, I collect the best coin I can afford and avoid buying key dates when I don't have to do that. In that way I get the highest grade coins I can afford. You will find out with the key date coins that a lot of then get very expensive in the high grades. I find that high prices for everything get to be frustrating after a while.

 

Key date coins have had some strong price increases in past years. Some of this is because collectors have bought them for sets, but another aspect of this is that some collectors and speculators buy only key date coins and none of the common pieces. This has created an artificially high market for many of these coins IMO. Will they continue to go up? I don’t know, but I’ve not put my money in that basket. It’s hard enough buying pre 1834 gold coins, which are all “key” dates and things like a 1793 Chain cent or a 1796 Quarter or a 1796 half dollar.

 

For example I have a “common date” Proof 64 Morgan dollar, NOT an 1893-S. The Proof Morgan is a lot less expensive, and for the year (1883 Proof) is actually scarcer than the 1893-S on a sheer number of existing coins basis. I’m a retired dealer, and I can tell you that I’ve been to shows where one dealer, who specialized in the date, had as many as eight or nine 1893-S dollars in stock at one time in various grades. The coin is not “rare.” It’s only popular as a key date Morgan dollar.

 

As for toning, if you are not going to get very far in type collecting back to the 18th and 19th century before you will be buying toned coins, or you will be buying dipped or cleaned coins. Aside from Morgan silver dollars that sat in mint bags for years, everything else got out into circulation, and “99%” of those coins toned naturally. “Ninety-nine percent” of the pieces that are white have been dipped or cleaned. This is just a fact. Very few old silver coins, aside from the Morgan dollars, are naturally white (without toning).

 

I don’t mind dipped coins too much, but I avoid cleaned coins. Some collectors are fanatical about dipped coins and won’t touch them. I don’t agree with that, but I can’t change their minds.

 

Take a look at my coins and see what you think. They represent the type of stuff that a high end, advanced collector can do over the years. Maybe my collection with give you some guidance. Click on the "GALLERY" button. That will give you the fastest look at everything.

[Lastufka Collection]

Bill, I've drooled over your Type Set a number of times while I'm currently working on mine. Congrats on all the work (and money) it must have taken to complete that.

[messydesk]

It should be know that I do NOT like 'toning.' This is a personal decision of mine.

This is all well and fine, and collecting brilliant, white coins will work for some types, but once you're in the 19th century and not looking for Morgan dollars, a solid white coin is usually a recently dipped coin.

[mintcollector]

It should be know that I do NOT like 'toning.' This is a personal decision of mine.

This is all well and fine, and collecting brilliant, white coins will work for some types, but once you're in the 19th century and not looking for Morgan dollars, a solid white coin is usually a recently dipped coin.

 

I fully understand. Right now I am working on a Carson City set of Morgans with no toning. I LOVE Morgans and Peace dollars; as they are some of my favorite coins! Some of these coins look great. I have had a 1928 Peace Dollar on my want list for some time, but cannot find one I like, as most are covered in toning or minor spotting (i.e. black spots). That being said, I don't think I will have much trouble finding a semi key 'walker' in 'gem brilliant' condition.

 

Other coins, like Barbers, etc. I would agree; I may have trouble finding with no toning. This is why I am hoping some great coin dealers can help me in my quest!

 

If anyone has any other advice, I am very interested in what you have to say. I thank you all for your help in advice. This is a great forum full of great information, and I do appreciate it!

 

Kind Regards,

 

'mint'

[J3_Dog]

@Mint-- I am a Novice Collector alos. @Bill-- I looked at you're Sets. Those are beautiful coins, and really good advice.

Jim

[mintcollector]

I have the only complete half cent to non gold dollar type set on the NGC registry that runs from 1792 to date. And I have all but one of the gold type coins (1795 to 1933). I've been working on this set for 50 years with a number of up-graded coins over that time. You can click on my footer to look at my coins. Every piece is photographed.

 

First, I collect the best coin I can afford and avoid buying key dates when I don't have to do that. In that way I get the highest grade coins I can afford. You will find out with the key date coins that a lot of then get very expensive in the high grades. I find that high prices for everything get to be frustrating after a while.

 

Key date coins have had some strong price increases in past years. Some of this is because collectors have bought them for sets, but another aspect of this is that some collectors and speculators buy only key date coins and none of the common pieces. This has created an artificially high market for many of these coins IMO. Will they continue to go up? I don’t know, but I’ve not put my money in that basket. It’s hard enough buying pre 1834 gold coins, which are all “key” dates and things like a 1793 Chain cent or a 1796 Quarter or a 1796 half dollar.

 

For example I have a “common date” Proof 64 Morgan dollar, NOT an 1893-S. The Proof Morgan is a lot less expensive, and for the year (1883 Proof) is actually scarcer than the 1893-S on a sheer number of existing coins basis. I’m a retired dealer, and I can tell you that I’ve been to shows where one dealer, who specialized in the date, had as many as eight or nine 1893-S dollars in stock at one time in various grades. The coin is not “rare.” It’s only popular as a key date Morgan dollar.

 

As for toning, if you are not going to get very far in type collecting back to the 18th and 19th century before you will be buying toned coins, or you will be buying dipped or cleaned coins. Aside from Morgan silver dollars that sat in mint bags for years, everything else got out into circulation, and “99%” of those coins toned naturally. “Ninety-nine percent” of the pieces that are white have been dipped or cleaned. This is just a fact. Very few old silver coins, aside from the Morgan dollars, are naturally white (without toning).

 

I don’t mind dipped coins too much, but I avoid cleaned coins. Some collectors are fanatical about dipped coins and won’t touch them. I don’t agree with that, but I can’t change their minds.

 

Take a look at my coins and see what you think. They represent the type of stuff that a high end, advanced collector can do over the years. Maybe my collection with give you some guidance. Click on the "GALLERY" button. That will give you the fastest look at everything.

 

I just wanted to personally thank you for taking the itme to respond to my thread. I greatly enjoyed looking at your collection (now that I finally had a chance to do so). That being said, I do thank you for sharing this and will make sure to note this thread for future reference as well.

 

I am actually having more trouble than I thought I would in my 'coin collecting' venture. I honestly thought that collecting US paper money (in high grade) would be a major chanllenge, but it turns out that was simple as to what I am embarking on now.

 

Even Morgan dollars are difficult to collect. The most difficult coins for me to locate ( and keep in mind I only just started on my quest beginning with Peace and Morgan dollars); has to be the 1928 and 1928-S Peace dollars with no toning. Even with a span of MS 63 to MS 65; I am having trouble finding these coins in a condition I would consider acceptable.

 

Someone once said that I am a 'picky' collector and maybe that is the case. Still, I do see these kind of coins readily available, but usually they are ironically, not for sale when I do.

 

If anyone else can offer any thoughts or advice, I am more than receptive. I would like to branch out into walkers, barber dimes and quaters, and even buffalo nickels; and then go from there. It just seems so daunting...

 

Sincerely yours,

 

'mint'

[MarkFeld]

Someone once said that I am a 'picky' collector and maybe that is the case.

 

There is nothing wrong with that, as long as you are also realistic. And you sound as if you are. I always preach patience in collecting.

[bartlesvilleok]

Is there any place that has a price guide for common date coins for a type set?

 

One of my friends has a younger brother that is a YN. He was wanting to start a type set and was asking about the prices for common date coins.

 

I made up a spreadsheet minus the prices of course but would not let me load it on the site.

 

He has most the 20th century stuff and was looking at the older coin. while some type has a big difference in vf to xf others do not and in those cases he would rather spend a little more and get the xf.

 

[Oldtrader3]

Maybe I am crazy but I have been buying slabbed coins since 1987 or so and have yet to go a year without having a silver or nickel coin (not copper) turning on me in a holder. I would be surely state that right this very minute, I have at least two silver Peace dollars that have spotted from Jeweluster dip, which was certainly not done by me! Both coins were purchased from nationally recognised and reputable dealers but they never would have seen this either, Only sitting in a room temperature heated safe for several years is all that was required (in a plastic TPG box).

 

I guess my advice is good luck with that.

[mintcollector]

Maybe I am crazy but I have been buying slabbed coins since 1987 or so and have yet to go a year without having a silver or nickel coin (not copper) turning on me in a holder. I would be surely state that right this very minute, I have at least two silver Peace dollars that have spotted from Jeweluster dip, which was certainly not done by me! Both coins were purchased from nationally recognised and reputable dealers but they never would have seen this either, Only sitting in a room temperature heated safe for several years is all that was required (in a plastic TPG box).

 

I guess my advice is good luck with that.

 

I have been using Intercept Sheild boxes for slabbed coins and NEVER had a problem. I also use silica gel and a product called Metal Safe. I would recommend you change your storage methods if this is becoming an issue for you. Plastic TPG cases are great for transporting coins, but not so great for long term storage.

 

 

[BillJones]

Maybe I am crazy but I have been buying slabbed coins since 1987 or so and have yet to go a year without having a silver or nickel coin (not copper) turning on me in a holder. I would be surely state that right this very minute, I have at least two silver Peace dollars that have spotted from Jeweluster dip, which was certainly not done by me! Both coins were purchased from nationally recognised and reputable dealers but they never would have seen this either, Only sitting in a room temperature heated safe for several years is all that was required (in a plastic TPG box).

 

I guess my advice is good luck with that.

 

Chances are the problem is you have been buying dipped coins.

 

There are two ways to avoid the problem. The easiest way to get to know the styles of slabs PCGS and NGC have used over the years. If a coin has been in the slab for a decade chances are it is not going to change given proper storage. I’ve reach the point when an “old slab” has become one of things that influences my coin purchases.

 

Second after a while I’ve gotten to the point where I can spot dipped coins. This skill takes a while to acquire because you have to look at a lot of coins, but skill that is worth acquiring.

 

Finally, you need to be careful about where you store your coins. Many years ago when I lived in New Jersey I had a safe deposit box that was in a vault that was on an outside wall. My coins started toning because the bank allowed the temperatures to go up and down during days and evenings. That resulted in moisture problems that cause my coins to spot. Look for a bank with inside walls that keeps their vault temperature constant.

 

[CyberspaceVoid]

BillJones,

 

Great storage tip, thanks!

 

 

[mintcollector]

Maybe I am crazy but I have been buying slabbed coins since 1987 or so and have yet to go a year without having a silver or nickel coin (not copper) turning on me in a holder. I would be surely state that right this very minute, I have at least two silver Peace dollars that have spotted from Jeweluster dip, which was certainly not done by me! Both coins were purchased from nationally recognised and reputable dealers but they never would have seen this either, Only sitting in a room temperature heated safe for several years is all that was required (in a plastic TPG box).

 

I guess my advice is good luck with that.

 

Chances are the problem is you have been buying dipped coins.

 

There are two ways to avoid the problem. The easiest way to get to know the styles of slabs PCGS and NGC have used over the years. If a coin has been in the slab for a decade chances are it is not going to change given proper storage. I’ve reach the point when an “old slab†has become one of things that influences my coin purchases.

 

Second after a while I’ve gotten to the point where I can spot dipped coins. This skill takes a while to acquire because you have to look at a lot of coins, but skill that is worth acquiring.

 

Finally, you need to be careful about where you store your coins. Many years ago when I lived in New Jersey I had a safe deposit box that was in a vault that was on an outside wall. My coins started toning because the bank allowed the temperatures to go up and down during days and evenings. That resulted in moisture problems that cause my coins to spot. Look for a bank with inside walls that keeps their vault temperature constant.

 

 

This is great advice. I actually wondered why certain collectors (and dealers) put so much emphasis as to what kind of 'slab' a coin is in.

 

I do not know how to spot a 'dipped' coin; as most 'brilliant white' coins look the same to me, except for the minute details of the coin (i.e. scratches and bag marks). I have gotten to the point where I am at least able to look at a coin and see if I fell whether or not it has 'good' eye appeal. That is about it for my grading skills...and I freely admit this.

 

Kind Regards,

 

'mint'

[MarkFeld]

Maybe I am crazy but I have been buying slabbed coins since 1987 or so and have yet to go a year without having a silver or nickel coin (not copper) turning on me in a holder. I would be surely state that right this very minute, I have at least two silver Peace dollars that have spotted from Jeweluster dip, which was certainly not done by me! Both coins were purchased from nationally recognised and reputable dealers but they never would have seen this either, Only sitting in a room temperature heated safe for several years is all that was required (in a plastic TPG box).

 

I guess my advice is good luck with that.

 

Chances are the problem is you have been buying dipped coins.

 

There are two ways to avoid the problem. The easiest way to get to know the styles of slabs PCGS and NGC have used over the years. If a coin has been in the slab for a decade chances are it is not going to change given proper storage. I’ve reach the point when an “old slab†has become one of things that influences my coin purchases.

 

Second after a while I’ve gotten to the point where I can spot dipped coins. This skill takes a while to acquire because you have to look at a lot of coins, but skill that is worth acquiring.

 

Finally, you need to be careful about where you store your coins. Many years ago when I lived in New Jersey I had a safe deposit box that was in a vault that was on an outside wall. My coins started toning because the bank allowed the temperatures to go up and down during days and evenings. That resulted in moisture problems that cause my coins to spot. Look for a bank with inside walls that keeps their vault temperature constant.

 

 

This is great advice. I actually wondered why certain collectors (and dealers) put so much emphasis as to what kind of 'slab' a coin is in.

 

I do not know how to spot a 'dipped' coin; as most 'brilliant white' coins look the same to me, except for the minute details of the coin (i.e. scratches and bag marks). I have gotten to the point where I am at least able to look at a coin and see if I fell whether or not it has 'good' eye appeal. That is about it for my grading skills...and I freely admit this.

 

Kind Regards,

 

'mint'

 

Often, it is impossible to know whether a coin has been dipped. In a number of other instances, however, there are clues which can be found.

 

Sometimes dipped coins show evidence of starting to re-tone.

 

Sometimes dipped coins display remnants from the toning which was previously present - look for splotchy whitish areas and/or evidence that toning had previously etched into the surface of the coin.

 

In many instances, a dipped coin will display subdued luster.

 

Also, certain types/dates of coins, if color-free, are almost certain to have been dipped. For example, there are a good number of un-dipped, color-free Washington Quarters. The number of Standing Liberty Quarters in that category is considerably smaller. Barber Quarters - far fewer still. And so on.

[CSdot]

Here is my type set:

 

http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=119576

 

I tend to look for the best condition I can find. I suppose that I might go for a prestige date if if is not out of line with what I am spending on other coins, but I don't think I would include for this set an 1893S in VF over a nice CC in MS65. Save that for the key date set.

[BillJones]

You have a really nice, attractive set going there. It's great that you have posted pictures of your coins. I wish everyone would do that. (thumbs u

[CSdot]

You have a really nice, attractive set going there. It's great that you have posted pictures of your coins. I wish everyone would do that. (thumbs u

 

Thanks. I am enjoying putting the set together. I did the 7070 Album a few years back, and I think I am enjoying doing this set more. Maybe because I have more certainty that my additions are problem free. It's hard to do that with raw coins.