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 Replies: 22 / Views: 3,795 |
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Valued Member
United States
71 Posts |
I would also recommend buying a Red Book, as a newby I found this to be a great read. Also if you go to one of the chain bookstores the 2014 version may be available for a deep discount. I was in a Books A Million store last week and they had them for $3.97. |
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Moderator
 United States
190053 Posts |
For the record, those proof set lenses are very easy to open and close. It is possible that half dollar was handled post mint.
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Pillar of the Community
United States
7375 Posts |
I give you credit for looking closely at the coins and noticing the fingerprint pre purchase.
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Bedrock of the Community
United States
17884 Posts |
While they shouldn't come from the mint with a finerprint on them, it can happen. Also like Jbuck said the proof sets since 1999 can be easily opened and reclosed with no evidence of tampering so the fingerprint could have occurred after it left the mint.
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New Member
 United States
7 Posts |
To good to be true....this is a phrase I keep hearing over and over again while watching various videos people make. The context is that if a price on a coin seems to good to be true, it probably is. With that in mind, I also purchased a 1999 silver proof set from this same dealer for $95. The coins themselves compare very closely with the silver proof set I got directly from the US mint last week. However, I am looking at the Red Book and each of the silver quarters in the set run about $30 at the grade of PF-65 and the set itself is $135 according to the book. I am not looking to sell, but I sure am confused. If I rip apart the set I have $150 in quarters (plus the other coins), but if I leave it together it is $135. Then I paid $95 for it. Am I just being paranoid or does the price I paid seem suspicious? Edited by guardian1816
02/18/2015 5:15 pm
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Pillar of the Community
United States
3486 Posts |
Paranoid? No. Concerned and questioning? YES! Most members will/have tell/told you that the Red Book, while invaluable for learning, is NOT reliable as a price guide. To be blunt, if you rip apart the set you will have several quarters and the rest of the coins. You would need a willing buyer to determine a price. " to learn everything I can as fast as I can " Please change your goal to " to learn as much as I can from the best teachers available." There are thousands here at the CCF. And they LOVE to teach. |
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Moderator
United States
23522 Posts |
That's about the going rate for such a set.
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Bedrock of the Community
United States
11951 Posts |
 I agree, that a fingerprint could end up on a mint product. I think it would be rare. If your buying the set at less than melt, then you doing fine. I would check the set to make sure the coins had not been switched with clad proofs. As for the prices of sets ... Like the 1999. Learning what coins should buy and sell for, is a never ending task. I don't think you did bad buying the set at $95. When I am buying sets like that, or higher priced coins, I try to check greysheet and auction sites. Last time I looked at a greysheet for the 1999 silver proof set, I think it was listed at $70. Learn that a dealer will Buy your coins at less than greysheet. How far back might depend on how hard or how long it will take him to re-sell the item. Also check out sites like ebay to see what they sell for. Learn the range something is buying and selling for, then you can decide what price you will feel comfortable paying. Price guides, like where you are seeing the single proof coin prices, have prices that would be very hard to get ... If you wanted to sell. Most dealers would not get those single coin prices ...because most customers would figure out it would be cheaper to buy the set. |
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Bedrock of the Community
United States
17884 Posts |
Quote: However, I am looking at the Red Book and each of the silver quarters in the set run about $30 at the grade of PF-65 and the set itself is $135 according to the book. I am not looking to sell, but I sure am confused. If I rip apart the set I have $150 in quarter etcs (plus the other coins), but if I leave it together it is $135. This confuses a not of newbies. The reason the sum of the parts is greater than that of the whole is because the cost of selling the individual items is higher than that of selling a single item. Say the costs for holdering, advertising, inventory etc run to $3 per item. The cost to sell the set is $3, the cost to sell the five quarters is $15. So the final sale price for the quarters has to be $15 higher than the set to break even. Not to mention that you only have to fid one buyer for the set while you may have to find 5 buyers for the quarters. That can mean a lot more time having them in inventory and one of the important things in the coin business is rapid turnover. |
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Pillar of the Community
United States
589 Posts |
Quote:However, I am looking at the Red Book and each of the silver quarters in the set run about $30 at the grade of PF-65 and the set itself is $135 according to the book. I am not looking to sell, but I sure am confused. If I rip apart the set I have $150 in quarter etcs (plus the other coins), but if I leave it together it is $135. I've always thought it was that people collecting by sets only want a specific coin, not the entire set. Thus, the price of the individual coins goes up. |
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Bedrock of the Community
United States
20753 Posts |
Those prices are similar to what happens to a used car that is junked. You take a car or have it towed in to a junk yard. They give you anywhere from $50 to $100 for it. Then someone tells you they just came back from that place and saw people buying parts from your old car. They were selling each part of a lot of money and it is totaling far more than you got when you sold it. Actually that junk yard could end up with thousands of dollars for all the parts of your car.
Same with sets of coins. You take a Folder full of coins to a dealer. He takes all the coins out and puts each one in a flip. Sells all of them for 100 times what he paid you.
This is called business.
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Moderator
United States
190053 Posts |
Quote:
I've always thought it was that people collecting by sets only want a specific coin, not the entire set. Thus, the price of the individual coins goes up. Yes, you pay more for individual coins to avoid the task of liquidating the coins you do not want or need. |
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Valued Member
United States
327 Posts |
I love that fact that people break proof sets. I have several dealers who show up at my (few) local shows who have big baskets of proof nickels, dimes and pennies broken out of sets and 2X2'd. I've built almost a full set of proof nickels from '68 to current for as little as 25 cents each...they aren't like the quarters and above which go off to be graded. The only ones I'm having difficulty with are some of the mid seventies nickels (the proofs absolutely sucked and getting a decent one is tough) and of course the Lewis and Clark commemorative set.
It's cool to see the quality of the proofs improve from the 70s and 80s to now; the difference is night and day.
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Moderator
United States
190053 Posts |
Quote:
It's cool to see the quality of the proofs improve from the 70s and 80s to now; the difference is night and day. I agree. My Jefferson nickel and Roosevelt dime Dansco albums have pages added for proof issues. That is, all of the proofs are on separate pages so you can view them as a set, seeing how they changed over the years. |
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Valued Member
United States
59 Posts |
SPQR, I think the opposite is true. The proofs now are just a too frosted mess compared to years past where the proof devices were rich and well defined.
What does anyone else think?
Which are nicer looking: older proofs or new proofs?
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Posted 02/18/2015 09:58 am
