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Replies: 12 / Views: 2,135 |
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Valued Member
United States
277 Posts |
I wanna collect proof sets, and I came into some money lately so I was going to order the 2010 and 2011 ones from the mint, I was wondering should I go with the regular proofs or the silver proofs?
I was also curious are there any of the coins that only come from the mint that are worth collecting? The armed services ones, first ladies, eagles? and if so which is way would people lean? Gold, silver, or regular.
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Pillar of the Community
United States
7629 Posts |
I don't work for them, but I think you'll actually get them cheaper from https://www.moderncoinmart.com than you would from the mint. Especially if you order both of them at the same time.
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Bedrock of the Community
United States
20753 Posts |
Try looking up coin shows in your area. Many of the ones by me sell Proof sets, Uncirculated sets and other Mint sets for a lot cheaper than the Mint. Same with many other items.
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Bedrock of the Community
United States
17884 Posts |
What are your reasons for wanting them? If you are wanting to put together a collection of them then buy whichever ones turn your fancy. If you are hoping to buy them for an "investment" looking for a long term gain, buy mutual funds. You will almost certainly do better. In the long run almost all US mint products wind up being a poor investment. Even the ones that do go up tend to provide a poor rate of return on investment.
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Valued Member
 United States
277 Posts |
I guess I should clarify this more... the more I get into coins and look through them, read about them, and see pictures about them, the more I start to appreciate all different kinds of coins and almost wish to start collecting almost anything. My plan is to never sell them and pass them on to relatives. (I never plan on having children of my own) However, in 30 or 40 years from now if I am broke and I have these coins, and it is lose my home, or I need a crazy medical procedure to save my life or my wife's. (We all know how insurance likes to pay for these things) I would like to know what types of coin people think would hold the value the best or be the most attractive to sell. I understand it is a guessing game, but lets face it I am only a few monthes into collecting so pretty much everyone here has a better understanding of what MAY happen compared to me
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Pillar of the Community
United States
6326 Posts |
The older "Classic" coins in high grades....slabbed or unslabbed....tend to hold their value better than ANYTHING "Modern" or "Ultra-Modern". "Coins" are always a poor "future investment" because it's always a rollercoaster ride with precious metals and/or bad economies.....whatever. But, you can actually "track" the values of "Classic" coins going back as far as you want to, to see whether they've increased, decreased, or stayed the same. In that sense.....it's a "better" bet, that if it's worth $400.00 now.....40 years from now, there's somewhat of a good chance that it might still be worth the same amount.....or it could have tripled in price.....or worse......it's all a gamble and an "opinion"....  But if you're looking for " insider trading advice" on which coins might be cheap and affordable NOW......that you can sit on.....and then 40 years from now pay some kind of HUGE medical bill with the proceeds....... Condor is right......that would be a "mutual fund"..... not any type of coin ! A Buck is a Buck.....but it tends to buy less and less as the decades roll by. So, that guy that's sitting on a huge mountain of Presidential dollars will always get "face value" for his coins.......but he would have been better served investing in something else more appropriate for that type of endeavor. That doesn't mean that his "inheritors" wouldn't appreciate a Dansco album full of Proof Presidential dollars though ! ....   So, in a nutshell...... THAT'S the difference between " collecting" and " investing". Believe me !! ........ EVERYONE would like their collections to grow in value through the years..... but that can't be the main reason to get into collecting. The beauty, the art, the education, the appreciation, and the love must come FIRST !
Edited by eaglefoot 02/14/2011 2:16 pm
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Valued Member
 United States
277 Posts |
Nah I am not looking for a mutual fund those aren't a hobby to me. The great thing about coins is it is a hobby that can pay you back. You like movies you are going to lose money no matter what, you like traveling you are going to spend money , you like watching football and go to all your local nfl teams games you are going to spend money. With coins you are going to spend but there is a chance that you can get it back one day and I like that thought (most of my hobbies are this way). I also like to finish things I start, so whatever I collect I will want to go back and get everything as far as I can, whether it be mint sets, quarters, Morgan dollars or whatever. Thanks for the advice though
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Valued Member
 United States
277 Posts |
Hit enter again to fast, plus I always feel uneasy buying or collecting things when I first start, I just don't have the knowledge and have the fear of being ripped off
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Pillar of the Community
United States
920 Posts |
That's interesting. How does Modern Coin Mart sell the current proof sets cheaper than the Mint? 
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Rest in Peace
United States
9104 Posts |
By buying them cheaper yet. Most proof sets they made 3 million, there's not 3 million collectors of proof sets. When someone who bought 5 or 100 sets (or his heirs) wants to sell, they either take the market price or keep them.
We used to buy Canadian PL sets for less than face from dealers. They'd lose a dime or so rather than take the time to cut them open. Some US mint sets are about as bad.
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Pillar of the Community
United States
7629 Posts |
They don't get the sets any cheaper than anyone else. They buy the sets in bulk, then are willing to take a couple of dollars hit per set to build a customer base. Customers can be worth far more than the couple of dollars they are losing on proof sets.
I don't work for them, but I do all of their marketing and advertising...so I do know what's going on there. When the sets first come out they buy hundreds of them and use them as a marketing tool to bring in customers...and it works.
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Bedrock of the Community
United States
17884 Posts |
There is a bulk purchase program from the mint that can allow a dealer to get the sets for less than issue price but the required size of the purchase is large and the discount is only about 5%. Years ago the mint made the mistake of selling the sets to dealers in large quantities for a significant discount. Silvertowne bought 1.5 million sets and jobbed them out to other dealers. All the coin papers had ads from dealers selling current year proof sets at 25% less than the mint was selling them for (At the time the mint was selling proof sets for $12, the dealers were selling for $9). It severely cut into the Mints sales that year. They stopped the bulk sales for a couple years and when they brought it back the discount was greatly reduced.
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Bedrock of the Community
United States
17884 Posts |
As for the original post, it seems like you want to buy the proof sets because you actually want to collect them, and you want to know which ismost likely to do its best at dropping less. In that case the silver sets would probably be better unless the spot price of silver drops, in which case the silver sets will be worse because you will have to pay a high price now and they will drop faster and further.
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Replies: 12 / Views: 2,135 |
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