When is a set complete? posted by Yankeejose

[CSJournals-migration]

100% filled or when upgrades are finished?

 

For several months I had almost had my 32-64 quarter set competed, but I had one open slot- the 1950 D/S. I had been looking for a couple of months before I finally found one that I liked. I probably overpaid at about 85% of FMV, but it was a nice coin in AU53 that fit well with my set. The problem now is my 1950 S/D in VF details became a hole filler.

 

A couple of months ago I thought I was in the running for a PCGS AU55- it was at $57 dollars with 10 seconds left-I think my max bid was about $220- but hammered at $243 with shipping. It appears a dealer bought it because the same coin is at a buy-it-now on EBay for $329. I hope the dealer gets buried with it --literally- like in his casket! Obviously just out of principal I will never be a buyer of that coin from that guy because I know how much he paid! Anyway a couple of days later another one was ready to close- an ugly NGC AU50 that looked a little over-graded. I made a bid but was actually glad I was outbid at $150 (impatience was starting to take over but I nipped it in the bud just in time) it would not have been a good fit for my set eye- appeal wise- just grade wise ( patience dummy!).

 

So I now I have the set %100 complete but I am not %100 satisfied with the set. Actually I also want to upgrade the 35D to an MS64 and the 45-S to an MS66. The other upgrades of the toughest dates- 32D and S- and 36D in MS64 are out of my budget at this point, so they are not in my mind as upgradeable.

 

There are also a few that are not so eye appealing that I may want to swap out but at the same grade. When Gary H was taking pictures of my coins he pointed out some of the nicer coins but also politely pointed out some dogs as he appropriately called them. These were some of my earlier purchases that I made before I had really learned the market and what was a truly nice/eye appealing coin for the grade. As always a good collector can never stop learning in this hobby. As Rich H correctly advised me I could probably replace about 5 of the roughest and be very happy with the total set.

 

I remember Walkerfan had said he felt a level of completion when he had all but the most common and the most expensive for his Walker set. When do you feel a set is complete?

 

Thanks for reading and have a great summer- Dave

 

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[coinsbygary]

Fantastic post Dave even though I don't recall using the word dog to describe some of your coins. However, I do appreciate where you are coming from in your collecting journey and your focus on eye-appeal. Like you, I have also started focusing more on eye appeal when choosing my coins rather than just buying coins to fill holes.

 

Truth be told, I have more than a few "dogs" in my collection. For instance when buying coins I had always been told to buy the highest grade I could afford. Generally speaking that is a good thing to do but when it comes to MS-61 and 62 Morgans I have learned that high AU or low MS Morgans with toning are more eye-appealing alternatives than Morgans peppered with visible bag marks. In other words there will be a few coins in that set I will be upgrading or perhaps downgrading.

 

My attitude now is that if VF is the most I can afford, I will do my best to buy the nicest looking VF I can find. Thus I will also be buying a few upgrades for my 7070 type set starting with the no-grade details coins. Fortunately, I am happy with most of the coins in that set, especially since I have finished re-imaging many of those coins.

 

All the best, and I hope one day you will look at your finished Washington Quarter set with a sense of pride and accomplishment knowing they are ALL the nicest looking coins for the grades you can afford.

Gary

[RWB]

It's complete when you can't afford any more.

[RichH]

I like to build my sets upon what I consider optimal price-grade value. I will give one example, my 2 cent collection is all MS65RB with the exception of the 1872 which I filled with a MS63BN.

 

The MS65RB grade was my initial target for all coins but when I got to the 1872 price had jumped and I filled with the 63. I could have saved and eventually added a 65 but not worth it when I considered closing out the set and moving on to other challenges.

 

Basically can minimize upgrades if you set the targeted goal upfront considering price/quality plus long term overall collecting objectives.

 

Also, failed to mention that you should have a good idea of what quality for the grade looks like to reduce any "mistakes"

[jackson64]

It is complete when every slot has a coin that you would never consider replacing...........( unless of course it is a jaw dropping stunner at a "can't pass up" price )...essentially, a set is never "finished" but one can call it complete.

[Walkerfan]

Great Post!!

 

I think that you should feel fully complete when you fill every hole in the highest grade that you can afford or that you are satisfied with. i.e. If AU 50-58 is the best that you can do for a certain issue, within your budget, then a PQ example in that grade and plugged into that hole should be just fine.

 

You should also buy coins that are in the 'optimal grade level'-----meaning the price for a 66 does not justify it over the quality of a 65. i.e. a HUGE price difference for 66 but not much difference in quality, so upgrades make no sense.

[JOHN HAYES]

Never

[Six Mile Rick]

Dave,

Your set looks great!! MS66 mostly which is the affordable state. Upgrades will come later at great prices and the new additions will move you up the ranks but yes -- COMPLETE is what I would call your set.

Congrats!!

[Six Mile Rick]

A couple of months ago I thought I was in the running for a PCGS AU55- it was at $57 dollars with 10 seconds left-I think my max bid was about $220- but hammered at $243 with shipping. It appears a dealer bought it because the same coin is at a buy-it-now on EBay for $329. I hope the dealer gets buried with it --literally- like in his casket! Dave

 

[Yankeejose]

thanks Rick!

[Mohawk]

Dave,

I don't think there's a single answer to this question. Roger gave a very realistic answer when he said it's complete when you can't afford any more. But I also agree with what everyone else has said. I think a set is complete when you're satisfied and when you've completed it to the very best of your ability based on a variety of factors, including finances and availability of coins. The threshold of satisfaction and completion is different for everyone, so there's no right answer, I'd say.

~Tom