Well you don't lose the top grip entirely, if your handle bars are wide enough it will cause your top grip to basically become wider (maybe even a lot wider) an alternative is to basically hold on to the elbow pads while sitting in an upwards position. But it isn't exactly a good idea since you probably wont have a good grip on it, therefore you won't have good control. This is all based on personal experience. If you are looking for a a decent first set, i think eBay would be a good place to look, you can probably find some good deals on a used set, but just remember to make sure that it will fit on your bike.

What NickDavid said is also quite true.