When will you consider your collection complete?

[Wihlborg]

I was inspired to make this post because of a reply that Kryptonitecomics made to my post about the 1913d buffalo that I bought to replace another of the same grade that I already had. In his reply he stated ‘I can't understand why you bought another coin that is the same date, mint mark and grade......makes no sense ’ Now, I know that he meant that statement as a joke, but he brought up a point that I think is an important aspect of collecting in general, and that is ‘When will you consider your collection complete?’

 

Will it be once you acquire one example of each coin you need for that set, or will you continue to work on the set, continually replacing coins as nicer examples are found?

 

As for me, I’m always on the lookout for a great coin, and if I happen to find one that is the same date/mint as one I already own I’ll always entertain the possibility of upgrading to the newly found coin IF it is nicer than the example I already own, and I can afford it. For me, this is the essence of what collecting is all about, trying to continually improve by adding the best examples I can afford to my sets.

 

This brings us to another question. Does a coin have to be a higher grade before you will consider it as an upgrade for another coin you already own?

 

Most experienced collectors know that a coin does not necessarily have to have a higher grade to be truly nicer than another of the same grade. Two coins can be accurately graded the same, yet one can be noticeably nicer than the other. Also, many times a PQ coin for its grade can look much nicer than another example of the same coin graded a point higher.

 

However, I believe that when some collectors think of the term ‘upgrade’ they think only of a coin that has been graded higher than the example they already own. In my mind this is a mistake if you want truly nice coins to form the core of your collection.

 

Now, please understand that while I may be talking about upgrades, and building collections of nice coins, it is not directed only toward those collectors who can afford to buy expensive high grade coins. My statements apply as equally to a collection of circulated modern coins as it does to a set of high grade classics.

 

No matter what grade you can afford to collect, if you search out and buy the nicest examples you can find, you will have a collection that you can be proud of for years to come.

 

Thoughts and comments welcome.

 

John

[topsman]

Good points! The grade is always an important aspect, but so is the eye appeal of that coin. While one coin could be a 65 and just be a regular old, white, dull coin, a 62 example could have much greater eye appeal of the collector, so of course the 62 would be an upgrade in my opinion. It all depends on the collectors personal taste, and what they consider to be a coin with a great eye appeal that would fit perfectly in their collection.

 

One thing I always have trouble with is letting a replaced coin go. Just because a better replacement has been found, it's hard to part with that first coin. Maybe it is just because I am strictly a collector and do not sell, but does anyone else have trouble with this?

[jom]

All great points JW.

 

Also, many times a PQ coin for its grade can look much nicer than another example of the same coin graded a point higher.

 

I can honestly say I've got several coins that look nicer that coins graded FOUR (ie four grade levels) points higher (AU58 to MS63). This is simply because there is a LOT of [#@$%!!!] out there and if you take your time you can cherry pick.

 

I've done my share of upgrading (ie 12-S Eagle from AU58 to MS62) and even some downgrading (ie 13-P Eagle from MS63 to AU58) over the years. Usually it is because it makes FINANCIAL sense (I use that word loosely... ). If I can get a coin for a little bit more but it looks a LOT better I'll go for it (12-S). If a coin is just as nice (or better) and it's graded lower (ie cheaper) I might downgrade and take the cash (13-P).

 

That's usually how I work it...if that makes any sense.

 

jom

[Leothelion]

I was inspired to make this post because of a reply that Kryptonitecomics made to my post about the 1913d buffalo that I bought to replace another of the same grade that I already had. In his reply he stated ‘I can't understand why you bought another coin that is the same date, mint mark and grade......makes no sense ’ Now, I know that he meant that statement as a joke, but he brought up a point that I think is an important aspect of collecting in general, and that is ‘When will you consider your collection complete?’

 

Will it be once you acquire one example of each coin you need for that set, or will you continue to work on the set, continually replacing coins as nicer examples are found?

 

As for me, I’m always on the lookout for a great coin, and if I happen to find one that is the same date/mint as one I already own I’ll always entertain the possibility of upgrading to the newly found coin IF it is nicer than the example I already own, and I can afford it. For me, this is the essence of what collecting is all about, trying to continually improve by adding the best examples I can afford to my sets.

 

This brings us to another question. Does a coin have to be a higher grade before you will consider it as an upgrade for another coin you already own?

 

Most experienced collectors know that a coin does not necessarily have to have a higher grade to be truly nicer than another of the same grade. Two coins can be accurately graded the same, yet one can be noticeably nicer than the other. Also, many times a PQ coin for its grade can look much nicer than another example of the same coin graded a point higher.

 

However, I believe that when some collectors think of the term ‘upgrade’ they think only of a coin that has been graded higher than the example they already own. In my mind this is a mistake if you want truly nice coins to form the core of your collection.

 

Now, please understand that while I may be talking about upgrades, and building collections of nice coins, it is not directed only toward those collectors who can afford to buy expensive high grade coins. My statements apply as equally to a collection of circulated modern coins as it does to a set of high grade classics.

 

No matter what grade you can afford to collect, if you search out and buy the nicest examples you can find, you will have a collection that you can be proud of for years to come.

 

Thoughts and comments welcome.

 

John

 

Hi John

Great topic! Upgrading is merely finding all the puzzle pieces in a coin! And for those who have been collecting for a number of years, that puzzle can become quite difficult. The simple questions is, is the coin all there? This is not rocket science so listen up TGCs!

For most collectors, they're filling up a Whitman coin folder and that's how most of us started out collecting coins. Most registry participants are merely filling up a grid chart developed by the TGCs! Very few are upgrading those sets!

For myself, I'm upgrading all the time! And I don't mind adding multiples of a date to my collection. Every so often I'll do a sorta like ethics cleansing of my collection to utilize the very best I have and sell the rest! and I won't hesitate adding a MS64 coin to my set over some colorful mushy MS66! Unless of course I can buy them up for a quarter and then sell them for $160!

 

Leo

[reid1836]

As to the question posted. My answer would have to be , not until the day I die ! You may quote me on that !

[kryptonitecomics]

In one word...never...........

 

#1 I don't think I could ever be financially in a position to buy all or most of the coins I want for my collection.

 

#2 I have already been derailed about 5 times early on in my Toned Morgan collection by date as I have 3 1885-O's and 2 1885-P's so that's 5 coins for my 1885 slot and I only needed one. The funny thing is the nicest coin in my collection is my avatar coin and it's an MS62.....in label only. I have no doubt that if resubmitted it could reside in an NGC MS63 Star holder, but I am not selling it so it doesn't mater.

 

#3 I do have to admit that for me I typically equate upgrade with a higher graded holdered coin, but I can certainly see both side of the fence on that issue.

 

I am glad I could help generate this thought provoking post.........and to think my wife says I am no good

[Hoot]

Your wife is right KC!

 

As for me, I’m always on the lookout for a great coin, and if I happen to find one that is the same date/mint as one I already own I’ll always entertain the possibility of upgrading to the newly found coin IF it is nicer than the example I already own, and I can afford it. For me, this is the essence of what collecting is all about, trying to continually improve by adding the best examples I can afford to my sets.

 

This says it for me in a nutshell.

 

I do NOT consider an "upgrade" one or more grade up, especially since there are so many factors that serve to make a grade: strike, marks and their placement, lustre, planchet, toning/surface degradation, rub, wear, etc. I believe that there are many ways to upgrade and I'm always looking for those with the coins that I collect.

 

I've replaced about 1/3 of my buff collection in the last 2 years. I've replaced at least one issue twice! I'm in the process of "upgrading" my Jefferson nickel collection by looking for EDS, well struck, colorful, and lustrous coins for each issue. Note that any of the four factors I just mentioned may come into play. If ALL FOUR are there, then I'm in hog heaven! And since full steps are only a minor part of what I've mentioned, then the series is vastly more interesting and affordable for me.

 

 

Collections are rarely complete for me - I currently have no complete sets!

 

Hoot

[toyonakataro]

Good post. I also keep my eyes on "upgrades" for my set and the "upgrade" doesn't always mean replacement to higer graded example. Looking through my set, higher graded ones do not neccesarily have better eye appeal as you stated.

[Leothelion]

When will you consider your collection complete?’

 

If I live another 20 years then it will be awhile before my collection is complete.

But that time may arrive sooner once I'm satisfied with the quality of my collection.

As long as I can afford to buy the coin, I'll keep chugging along with improving the set. And god knows, there's plenty of room for improvement in the quality of Jefferson nickels!

 

Leo

[TomB]

I consider neither upgrades nor a completion of my collection when I analyze my coins. I look for superb coins, regardless of grade, that I think are priced at a level that I am comfortable with, and then I buy them. This might make for a seemingly disjointed collection, but it is rewarding to me.

[Oldtrader3]

I doubt that I will ever even come close to completing all my listed sets. I have many sets going now, with only a few that are completed, causing doubt that I can finish all of my sets before I die. I think that what I really am doing is collecting individual coins with Registry Sets being the incidental excuse for that process, despite the fact that most of my coins are listed in sets.

 

Besides, I still upgrade coins occasionally when one comes along that really eclipses a specimin that I already have.

[wingedliberty-migration]

In my case, its flexible, since I like Mercury dimes the best, the fact that short sets from 1934-1945 exist is a good thing, and modified short sets from 1940-45 are also great.

Whether to include die varieties is a separate issue, I say there are different forms of contentment as far as what each individual feels as a sense of completion.

Have fun with the hobby. That should be priority one.

[aem4162-migration]

i can't imagine my collection (any of them) being complete. i like knowing there is something out there...

[ClassicsRule-migration]

Never. You can never have everything. Seated dollars? You got an 1873-S? If not, you ain't complete. Eliasberg didn't have the 1870-S half dime. He didn't have all the patterns. The only way to have a complete collection is to have EVERY coin that EVER came off the dies at the mint. Otherwise you are missing varieties. You are missing die states. And since 95% of 'em since 1900 are melted, NO ONE will ever have a complete collection of U.S. coins. Sorry, but that's life.

[tip-migration]

I nearly completed the Lincoln collection about 15 years ago but had to put it aside for a time. It bothered me alot that I had real 'fillers' for a couple of coins and of course all the years I was not collecting.. A couple of years ago I was able to pick it back up and not only add just decent grades (upgrades) to 20+ dates, and new lincolns to date, found an excellent '22 No D for a great price, but also able to add proofs back to 1936. I'll probably call the proofs complete for now.

I am very happy with it mostly because it is complete. There are always a few coins in any set which are illusive which usually is their cost. But my feeling is that I have them all and they are all very 'clean coins' and I have the set.

I am now moving backward with the cents, completed the Indian and Flying Eagle and have begun the large cents now. I guess each person has to have a personal goal. Mine is individually picked clean coins.

Tip

[SilverDollarMan]

In one word...never...........

 

#1 I don't think I could ever be financially in a position to buy all or most of the coins I want for my collection.

 

#2 I have already been derailed about 5 times early on in my Toned Morgan collection by date as I have 3 1885-O's and 2 1885-P's so that's 5 coins for my 1885 slot and I only needed one. The funny thing is the nicest coin in my collection is my avatar coin and it's an MS62.....in label only. I have no doubt that if resubmitted it could reside in an NGC MS63 Star holder, but I am not selling it so it doesn't mater.

 

#3 I do have to admit that for me I typically equate upgrade with a higher graded holdered coin, but I can certainly see both side of the fence on that issue.

 

I am glad I could help generate this thought provoking post.........and to think my wife says I am no good

 

I'll quote u on that one. I'll also, second it!

[Techno_mike-migration]

A very interesting question that does cause one to pause and think. I own a complete set of NGC certified Franklins (duplicates of 17 of them), but still have the financial means to upgrade most of them (yes, even some that are upgrades themselves). In a traditional sense of "completion" I should move on to the next set, but I am still interested in the hunt for that next better coin to add to this set. In the past I would have been planning the next collection even before I completed the current one. Thankfully, my collecting attention span has matured and I hope to turn this into a top-notch entry in the Registry.

[Morgannut]

When I have all but 4 of the Morgan keys and semi-keys in mint state and they are highly "eye appealing". Then I'll probably just add the others in EF/AU. because the commons are a terrible investment, and collecting them in original matching toning is fun and cheap. My circulated Washington set is missing one coin (1934) and I want it incomplete or I'd be temped to sell it! My collecting will be complete when I find one of the top ten rarities as a type coin, but that's a way off.