Individual Coins vs. Coin Sets
Coins have always been most commonly purchased on an individual basis whether one coin is needed to complete a collection or one specific coin is desired by the one purchasing the coins. It has become more common these days for dealers, coin-show exhibitors, online dealers, and local coin shops to sell coins in sets; this is an easy way for collectors to build a collection.
Almost any coin can be offered in a set. Dealers create sets of coins based on many different characteristics. Sets are most commonly seen grouped together by their release date or coin type. An example of a set like this is the 2013 American Gold Eagle set. In sets like these, all of the coins are a particular type and are from a specific year.
There are several benefits to purchasing coins in sets as opposed to buying them individually. Some of these benefits include:
Coins in a series: By purchasing coins in a set you have the ability of buying all the coins within a series all at once. Investors tend to like sets for the purpose of paying a lower premium. Also if you are a collector it is much harder to try and find individual coins to complete a set then it is to buy the whole set all at once.
Discount: If you had an older set of coins it is going to cost you a higher premium then it would to sell the coins individually however; this is not true for modern day sets. If you are looking to build a complete set the best way to go about doing this is to buy the whole set to begin with. You will save yourself money by purchasing the complete set rather than all the individual coins.
Commemorative Coins: Coins that are only available to purchase within a set are usually commemorative coins. There are some sets where all of the coins consist of commemorative coins; in that case none of these coins would be available for purchase outside of the set.
Certified: The majority of modern coins that are found in a set are certified by a professional coin grading company. With coins like these you do not have to question their authenticity or quality. Knowing the grade of the coin makes it easier on the buyer and seller to determine a fair price for the set or coin. Coins that have been graded typically come in a plastic slab that keeps the coin in good condition.
Pre-Release: There are some sets that are available for purchase before any of the individual coins are available for purchase.
While it may seem like the easiest thing to do would be to buy a set lets not forget how the "hobby of kings" started, which was by purchasing each coin individually and working hard to complete their collection on their own. However the decision to buy a set or individual coins is really up to the buyer.
Almost any coin can be offered in a set. Dealers create sets of coins based on many different characteristics. Sets are most commonly seen grouped together by their release date or coin type. An example of a set like this is the 2013 American Gold Eagle set. In sets like these, all of the coins are a particular type and are from a specific year.
There are several benefits to purchasing coins in sets as opposed to buying them individually. Some of these benefits include:
Coins in a series: By purchasing coins in a set you have the ability of buying all the coins within a series all at once. Investors tend to like sets for the purpose of paying a lower premium. Also if you are a collector it is much harder to try and find individual coins to complete a set then it is to buy the whole set all at once.
Discount: If you had an older set of coins it is going to cost you a higher premium then it would to sell the coins individually however; this is not true for modern day sets. If you are looking to build a complete set the best way to go about doing this is to buy the whole set to begin with. You will save yourself money by purchasing the complete set rather than all the individual coins.
Commemorative Coins: Coins that are only available to purchase within a set are usually commemorative coins. There are some sets where all of the coins consist of commemorative coins; in that case none of these coins would be available for purchase outside of the set.
Certified: The majority of modern coins that are found in a set are certified by a professional coin grading company. With coins like these you do not have to question their authenticity or quality. Knowing the grade of the coin makes it easier on the buyer and seller to determine a fair price for the set or coin. Coins that have been graded typically come in a plastic slab that keeps the coin in good condition.
Pre-Release: There are some sets that are available for purchase before any of the individual coins are available for purchase.
While it may seem like the easiest thing to do would be to buy a set lets not forget how the "hobby of kings" started, which was by purchasing each coin individually and working hard to complete their collection on their own. However the decision to buy a set or individual coins is really up to the buyer.
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