In the world of rare coin collecting and investing, assembling typesets is a pursuit that goes beyond a mere hobby.
By definition: a rare coin typeset is a carefully curated selection of coins, each representing a distinct historical or cultural era, by design or denomination.
If you are are like me, most of us started their coin collecting journey in their childhood.
Through their pocket change and more importantly their family's pocket change.
Because for some reason they always had better coins, my Grandfather is a great example, may God bless his soul!
If you are from my era, many coin collectors got their start collecting a date and mint set of Lincoln cents. After this, you may have started date and mint sets of Jefferson Nickels, Mercury dimes, Morgan dollars, etc.
Finding date and mintmarks this way allowed for the thrill of the hunt. If you are my age, 57, we sought out wheat pennies, Buffalo 🦬 nickels, and Mercury dimes and occasionally we scored a Morgan Silver dollar.
To find a date and mintmark that you needed regardless of condition was a thrill, to say the least. So that's how most of us got our start. As we grew older the burning passion of collecting coins remained in us.
However, it can become boring and the thrill of completion may be diminished after you have assembled multiple date and mint sets. One way to keep the excitement and interest in coin collecting is to start assembling type sets.
As we entered the working world and began to accrue discretionary income, we were now able to acquire not only the coins that interested us, but ones that had a significant chance of increasing in value. This is when collecting also turned into investing.
Over the past 30 years, I've spoken to thousands of collectors and investors, and one thing seems to remain constant, and that is collecting and investing by date and mintmark, with a few exceptions eventually becomes boring. Hence, the typeset.
The advantages of assembling rare coin typesets extends beyond the sheer pride and joy of their ownership.
In this blog we will explore what a typeset is, the advantages of collecting and investing in them, and the reasons why.
What Is a Typeset?
A type set, or type collection, is a coin collection based upon a coin's design or type. Instead of assembling a collection of coins based upon date and mint, a type set will consist of one coin representing each design type in a denominations series.
For example is you chose to collect and invest in the $1 gold piece minted between 1849 and 1889. Your typeset would consist of three coins, a Major type and two subtypes (design changes). The Major type, the Liberty Head, was minted from 1849 to 1854. Then there was a design change, the Type 2 Indian Princess, Small Head, which was produced from 1854 to 1856. In 1856 there was another design change, The Type 3 Indian Princess, Large Head, minted between 1856 and 1889.
In many ways this is an ideal way for collectors and investors to assemble a coin collection that contains a well diversified and wide variety of different coins.
Each addition represents not just a coin, but a chapter in the collector's journey through American history and numismatics.
Why Collect by Type?
Collecting United States coins by type allows you to assemble a beautiful and diversified collection of coins while remaining within your coin collecting and investing budget.
Unlike collecting coins by date and mintmark, you only need one coin from each series. Therefore, you have the ability to pick coins in the highest available grade that you can afford.
Additionally, you can choose the type of coins you want to collect and invest in. Some coin collectors and who are focused on investment, and have deep pockets, may decide to collect a type set of United States Early gold coins.
Assembling Rare Gold and Silver Coins by Typeset:
Suppose you have never assembled rare gold and silver coins by typeset before. In that case, you will best be served by choosing a particular denomination and work to assemble a complete type collection of that denomination first. Most only require 3 to 5 coins to complete.
Then, concentrate on a specific series that you are familiar with and look for high-quality coins that you can afford.
Major and Minor Type Coins:
Within each series of coins, there have always been minor changes and modifications made to the design. As a result, some coin collectors and investors only assemble their collections based upon the major design, while others assemble their collections to include minor design changes. These minor changes are also known as "subtypes."
For example, if you were to assemble a type and subtype collection of United States $20 gold double eagles you would need a total of 4 coins minted between 1850 and 1933. There were three design changes to the double eagle between 1850 and 1907 and then the $20 Saint-Gaudens made its debut in 1907 and ended its run in 1933.
Here are examples of type and subtype collections:
Major U.S. Types
Major U.S. Types and Subtypes
20th Century Type Set
19th Century and Beyond Typeset
Gold Type Set
1.) Historical Blend:
Assembling a rare coin typeset allows collectors and investors to assemble a rich blend and historical significance of American history.
Each coin becomes a link to a specific time period, bearing witness to the art, politics, and societal values of its era.
Your collection becomes a dynamic timeline, offering a tangible glimpse into the past.
Rare coin typesets serve as educational tools, providing a hands-on experience for collectors and investors with curious minds.
The act of acquiring each coin fosters a deeper understanding of historical events, economic shifts, and artistic evolution in American history.
Collectors and investors often find themselves becoming historians of American history as they delve into the stories behind each coin.
3.) Diversification:
Beyond the historical appeal, rare coin typesets offer a unique form of investment diversification. While not a traditional financial investment, the value of rare coins will appreciate over time, particularly if the collection comprises coins in the highest certified grades and condition you can afford.
4.) Historical significance:
Collecting rare coin typesets is a celebration of the historical significance of United States coinage. From colonial coins produced in the 18th century, to coins produced through the 20th century.
Each coin reflects the unique aesthetics and symbolism of its time period. This appreciation for historical significance and diversity enhances the collector's perspective of America's coinage.
5.) Preservation of Heritage:
Rare coins are tangible artifacts that bear witness to the passage of time. By assembling typesets, collectors play a crucial role in preserving these pieces of heritage for future generations. Proper storage, conservation, and certification ensure that the historical significance of each coin endures.
6.) Personal Satisfaction:
Ultimately, the act of assembling a rare coin typeset is deeply satisfying on a personal level. I know when I got older and could stop picking through my and my families pocket change, I began assembling a Carson City Morgan Silver Dollar mint set. It's only 13 coins!
It took me 5 years to complete, and even then, the level of grade and condition for most of them was way far short of what I really wanted. So I engrossed myself in the thrill of the hunt and began looking for Carson City Morgan's that I could upgrade.
Eventually, I achieved my goal of acquiring all 13 coins in the grade and condition I wanted. It took my years to complete, but I can honestly say the Carson City mint set I own is worth a mini fortune today!
The advantages of assembling rare coin typesets extend far beyond just a hobby. It is an experience that combines history, culture, and financial reward.
As collectors and investors embark on the journey of curating their typesets, they find themselves not just accumulating coins but crafting a tangible connection to America's past.
Collecting and investing in typesets of United States gold and silver coins provides a wide variety of options and diversity for the beginner and the advanced collector.
Many coin collectors get their start collecting a date and mint set of Lincoln cents. After this, they may start date and mint sets of Jefferson Nickels, Mercury dimes, Morgan dollars, etc.
However, it can become boring and the thrill of completion may be diminished after you assembled multiple date and mint sets. One way to keep the excitement and interest in coin collecting and investing is to start assembling type sets.
At Minuteman Rare Coin Numismatics:
We invite you to join our collectors and investors community and begin to assemble the most historically significant, valuable and rewarding diversified United States Rare Gold and Silver Coin collection you can afford. A collection that will enrich your life and bring you joy for many years to come!
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What's the number one piece of advice we give our clients?
"Always acquire the best coins you can afford, and always choose quality over quantity!"
Sincerely,
Edward Walsh, President
Minuteman Rare Coin
339-222-4571