I own several HP Lovecraft collections, but this one is my favorite: The Best of H. P. Lovecraft: Bloodcurdling Tales of Horror and the Macabre . This volume was published in 1987.
I’ve bought it twice: Once in 1988 (that copy is long since gone); and I bought a replacement copy about two years ago.
This collection has all the stories that the newcomer to Lovecraft really needs, including “The Shadow over Innsmouth” and “The Dunwich Horror”.
Another feature of this collection is the excellent introductory essay by Robert Bloch.