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12 Nov 2018

Type Set Collecting

Coins | iccoins

Type sets can be great fun and are also a great way to figure out what series or type of coins you like the best and may want to create a set of in the future. I am currently working on a type set of PCGS graded coins. Fortunately, there are lots of different types of type sets to work on. If you’re a beginning collector, you may find a type set to be overwhelming, expensive, and confusing, but there are so many different ways to collect a type set that you can always make one set to your knowledge base, interests, and budget. 

What Is A Type Set? 

The first obvious question is what a type set is. A type set is a coin collection where the collector has one example of the different series of coins. A type set greatly differs from a traditional set, where the collector will choose a certain series and collect all of the dates, mintmarks, etc. of a certain series, such as a Morgan Silver Dollar Set, a Draped Bust Large Cent Set, or a Franklin Half Dollar Set. Of course, a complete set of a specific series is great and super fun, but some people, especially beginners, don’t know what their favorite coin series are or maybe you just don’t want to be bored by always seeing the same design coins and would like to mix it up. The reason I am working on a type set is because I like so many coins that it is difficult to pick just one to collect and also because I don’t want to collect only one thing and would rather “mix it up.” My area of greatest interest is Early American Copper. Because of that, I put more effort and money into those coins in my type set over some coins that I don't like as much. (I really like every coin I own, though).  

Challenges 

A type set comes with its own unique challenges specific to type sets. If you want to create a full date and mintmark set of Barber Quarters, for example, you would need to learn everything you can about Barber Quarters and essentially become an expert on that series. Because type sets include all different series, a type set collector must learn even more. A type set collector won’t know as much about Barber Quarters as the Barber Quarter collector, but will know much more about Three-Cent Pieces than that Barber Quarter collector. You should always learn about the coin before you invest in the coin and that is just as true for type sets, which means you will end up learning a lot about all types of different coins, which can be very fun and exciting. 

Types of Type Sets 

Because of the vast extent of options for type sets, only a few main types are listed, but they can all be edited and changed to fit your needs and wants. One of the easiest type sets for beginners to start with is the 20th Century Type Set, where you collect all the major coin types from 1900-1999, which is very affordable, yet still fun. You can even choose what coins to choose. You could choose to have only one Lincoln Cent, for example, or you could choose to collect Wheat, Steel, and Memorial specimens. You can then always add to your 20th Century Type Set with an 1800 to Present Type Set. This would be more difficult and costlier, but you can readily find every coin needed to complete this set. Then, if you’re ready for a real challenge, you can choose the Complete US Type Set, including an example of every coin ever minted by the US Mint, which is challenging, costly, and, depending on the condition, can include some extreme rarities. Another easy way to figure out what Type Set to work on is to visit and browse the PCGS Set Registry. Even if you’re not planning on collecting PCGS graded examples or creating a Registry Set, this is a great way to browse, see what sets other collectors collect, and help you choose for your Type Set. 

Tips 

  • Make sure you have a checklist so you know and keep track or what coins you have and what coins you will need. 

  • Before starting, make sure to consider your budget so you can choose a set that will make you happy and also fit your budget. You don’t want to plan for some extravagant set and find out it will cost too much money. 

  • You do not have to do it this way, but a good way to start is to start with a certain denomination (dimes, half dollars, etc.) and expand from there. 

  • Start with the rarer coins! Some people may be tempted to start with the cheap modern stuff, but start with the more expensive coins. You don’t have to start with the most expensive and go down from there, but the more expensive the coin, the more it generally goes up in the same amount of time. (Ex: Let’s say for your type set, you need a Draped Bust Dime. If you want to get them all professionally graded in MS-60 or higher, a Draped Bust Dime may very well cost you over $10,000. A modern Roosevelt Dime may cost you upwards of $15.00. Let’s assume that the value of each coin goes up about 10%. That Roosevelt Dime costs $16.50, an extra $1.50. The Draped Bust Dime costs you $11,000, a $1,000 price hike.) 

Comments

Kepi

Level 6

I'd like to put together a Type Set one of these days! Great blog!

I enjoy type collecting, but I mainly do wheaties.

coinsbygary

Level 5

I love type collecting. The main advantage to type collecting is that you can focus on buying the highest grade coins you can afford. For instance, take the Morgan Dollar. If you collect the whole series there is no getting around the 1893-S. A coin in G-6 condition may well cost you over $1000.00. Considering that the 93-S is not the only show stopper in the series, the cost of obtaining a complete set sky rockets. On the other hand, the type collector is able to easily purchase an 1881-S Morgan dollar in MS-65 condition and have lots of money left over from not buying the 93-S to purchase other high grade type coins! I am proud of the 7070 type set I have assembled. The lowest graded coin in the 89 coin set with gold is one Classic Head Large Cent in VF-30. The rest are XF-40 and higher with a considerable number of coins in MS condition.

iccoins

Level 4

Awesome set! Thanks for sharing :)

coinsbygary

Level 5

The link to my set: https://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=73886&Ranking=all

iccoins

Level 4

Exactly :) I would love to see your 7070 Type Set. I wanted to do that set but chose to at least start with the Basic Design Set on the PCGS Set Registry because it's cheaper and easier. I don't have a job, so my money is pretty limited and I wanted to get all nice coins to fill the set.

"SUN"

Level 5

Type collecting is a great way to enjoy coins and their history.

iccoins

Level 4

I agree. Thanks for the comment :)

I have started my NGC registered type set as of August, It is very fun, and an excellent way to learn about each series.Thanks!

iccoins

Level 4

Cool! I generally like NGC slabs better, but there are two reasons I went with a PCGS Set Registry Type Set. 1.) PCGS coins are generally easier to find and are sometimes higher regarded. 2.) You have to be 18 years old to have an NGC Registry and, unfortunately, I'm only 16.

Mokie

Level 6

I just bought a capital holder for Odd Type Coins. The holder includes spaces for a Half Cent, a Silver Trime, a Nickel Trime, a two cent piece, and a twenty cent piece. I am going to have to find a silver trime and a Half Cent because I do not currently own either. But I will find good ones and get my capital holder finished. Thanks for the great blog, always looking for new collecting directions.

iccoins

Level 4

Awesome! I just ordered a Half Cent from David Lawrence yesterday for my type set :) I don't yet have a silver trime either. I'm not a huge fan of the design of them and they are one of the more expensive type coins.

Mike

Level 7

I hope some pick up on it. The problem we all have who write blogs is to get the right people to read it. If they read this blog there set. Great information. Good ideas great blog. Mike

iccoins

Level 4

I'm glad you enjoyed :) Essentially everyone who reads these blogs are already serious collectors, so these are fun to write, but unfortunately, I don't think it helps too many people.

Longstrider

Level 6

Good blog. You listed some good ideas and hints here. I have just recently started a type set. I am a big fan. really breaks things up.. Thanks.

iccoins

Level 4

Awesome :) We probably started at right around the same time if you just recently started it. What do you have in your type set so far?

CoinLady

Level 6

Well done! I've always been a fan of type collecting.

iccoins

Level 4

Thanks :) Me too.

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