Assembling Sets by Price (Rather than Grade)

There’s something extremely satisfying about seeing (and even more – assembling) a matched set of coins. One of the main reasons it’s so satisfying is that has undeniable eye appeal. Another reason is it’s a difficult task.

If you’re like me, you’d rather rush to complete your set then take time to upgrade it. One way to do this is by assembling a set by price rather than grade. If you start with a reasonable per-coin average price, your collecting mistakes may not cost too much.

Let’s say, after reviewing key date prices, you ultimately want to do a full set of Roosevelt Dimes in Mint State 67 Full Band. Okay – not easy, but not out of reach as many coins top out at MS68FB. Regardless, putting together a beautiful set in MS67FB is going to take time if you’re careful with eye appeal. Or, say, if you like spectacular toning. That kind of ultimate set is going to be tough!

It’s almost always a good idea to get key dates first. Start there to determine what your starting budget is going to be. Work backwards from a total set price including the keys to come to a round number you like. Subtract the keys, then divide by the number of coins to get an average coin price.

Using the PCGS Price Guide, we see that a cost for the whole set in MS66FB could be about $6300. It doesn’t take much scrolling to find that there are more than a few three-figure coins in MS66FB, and quite a few in 7. So define your budget and work backwards.

If you set a starting average coin price of only $30 per coin, most Roosevelts should go rather quick. You're limiting your grade, but you’re learning about each year as you go, too. You’ll figure out which dates need more investment and where the price breaks happen. You’ll begin to discover the proclivities of the type you’re working on.

Once you finish your first go-through - it should be quick - you'll have the satisfaction of a complete set. Then, you can start to even out the grades or eye appeal. As you go, you’ll learn which coins are tough in certain grades. Also, you’ll learn when to buy a big upgrade and when to settle in, study more, and be patient. You’ll also begin to get an idea if you love the coins enough to go after a place in the PCGS Set Registry.

Another reason: you get to watch the market at work on the coins in the price range, and then the grade range you’re looking at. Doing so helps you understand the open market for the coins – and how to go about collecting the series more fruitfully.

It can take years to complete a matching set in high grade, and even longer to make a set with a matched look. (Think Large Cents – getting coins in matching grade and color can take a lifetime!) But by using budget discipline to learn the ropes, you’ll save yourself some time getting to a complete set. As you get serious, you can make more intelligent upgrades. And work smart to make a beautiful set.