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Posted 06/01/2021 5:39 pm
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I agree with most of the other people here. One thing I want to add is that selling these things is a HUGE pain in the butt. I recently came to acquire 15 or so 80's/90's proof and mint sets, and 8 2000's proof sets for face value. Trying to sell them individually on ebay is basically not an option. Undercutting competition doesn't always result in a fast sale even if it's pristine. Not to mention, undercutting means selling them for maybe 40 cents above face value after fees and shipping! I ended up just breaking up the mint sets and 2000's proof sets and spending them. But I was lucky to find a buyer outside of ebay who took the rest for 2 bucks a piece and paid for the medium flat rate box I had to put them in, because not only are they nearly worthless, they're also super bulky
I agree with most of the other people here. One thing I want to add is that selling these things is a HUGE pain in the butt. I recently came to acquire 15 or so 80's/90's proof and mint sets, and 8 2000's proof sets for face value. Trying to sell them individually on ebay is basically not an option. Undercutting competition doesn't always result in a fast sale even if it's pristine. Not to mention, undercutting means selling them for maybe 40 cents above face value after fees and shipping! I ended up just breaking up the mint sets and 2000's proof sets and spending them. But I was lucky to find a buyer outside of ebay who took the rest for 2 bucks a piece and paid for the medium flat rate box I had to put them in, because not only are they nearly worthless, they're also super bulky
People have been panning mint sets for as long as I can remember. It worked fine for me since I could acquire them cheap. Or I could look through thousands of sets and buy the nicest ones for a small premium. I never really had much competition in buying the sets or the individual coins from sets. Obviously this mostly ended 22 years ago when the states coins came out. But you can still get a set with $10 worth of coins for $5. This is just the way it works. If you can find nice pristine sets then you can effectively double your money by cutting them up. And you sure couldn't do that in the old days. You'd be lucky to even break even in the old days and usually there was cost involved along with the work.
The demand for these coins is simply soaring and right now it is mostly manifested in the prices of cents, nickels, halfs, and dollars. People aren't looking for ratty or tarnished coins but the ones in nice choice BU. They are looking for varieties and Gems also. This is the state of the market and the demand is just going to grow in all probability.
If the demand grows then the real surprises in these sets will be the dimes and quarters. This is because for many years countless millions of these sets have been cut up principally for the halfs and dollars and the dimes and quarters have just been spent. There is no supply of these coins because no BU rolls were set aside. Most of the mint sets are tarnished.
But some of these things apply to proofs as well. Millions of proof sets have been destroyed and many of the coins put in circulation. None of the proof coins are going to be tough because they made nearly 3 million every year but some dates (like the '68/ '69 25c) have well under half the coins surviving. chBU's can be far scarcer than this. Try finding a nice attractive '69 quarter in chBU with no tarnish if you think they are easy. If you can't find this coin now with almost no demand where are you going to find it if the demand becomes a lot stronger?
Mint and proof sets have been a steal for many years but the numismatic premiums on these sets have about quadrupled in the last several months and I'd say they are still a bargain.
To each his own. It's a great time to be selling but very few people have them to sell and this is why further increases are probable.
I'm only selling due to my age. Every impulse tells me to buy but my heirs aren't going to want to deal with it.
Time don't fly, it bounds and leaps.
Edited by cladking
06/01/2021 5:41 pm
06/01/2021 5:41 pm
