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 Replies: 13 / Views: 1,224 |
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Pillar of the Community
United States
549 Posts |
My kids were born in 1996 and 1997. I started buying each of them silver proof sets each year beginning the year they were born. I'm kicking myself now for not stockpiling the 1999 sets (first year of State Quarters), since they're currently selling for $300 to $400 each. I'm a complete newbie to coin collecting (other than the silver proof sets, I've only been collecting for about a month). I was curious what all of you experts think the propects are for the 2007 silver proof sets (first year with Presidential dollars). Do you think they'll skyrocket in value like the 1999 sets did? |
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Pillar of the Community
United States
3233 Posts |
No. In fact even the 1999 sets are falling quite a bit. Buy them if you enjoy them.
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Pillar of the Community
United States
533 Posts |
I second the notion of getting what you enjoy. I personally have tried and failed to ever figure out what may or may not be a great investment. As soon as I quit even trying I started enjoying the coins I had for their history and beauty and not worrying about much else. I no longer get annoyed with myself for missing the next 1999 proof set.
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Pillar of the Community
United States
827 Posts |
I was talking to my local coin shop dealer few days ago and he made the statement "the Presidential dollars in the silver sets are not silver, just regular rpoof issues" to which I kindly ignored but am curious if this has a possibility of truth?  |
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Pillar of the Community
United States
2443 Posts |
I'm going to guess that the silver proof sets for 1999 are going to continue to decrease in price once the quarter program is over.
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Bedrock of the Community
United States
12437 Posts |
quote:
I was talking to my local coin shop dealer few days ago and he made the statement "the Presidential dollars in the silver sets are not silver, just regular rpoof issues" to which I kindly ignored but am curious if this has a possibility of truth?
Yes, the only silver coins in the silver proof set are the ones that once circulated in 90% silver(dime, quarters, half dollar). |
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Pillar of the Community
 United States
549 Posts |
After posting this last night I got to thinking about something that seemed meaningless at the time, but now that I've started collecting seems a bit more meaningful.
The 2003 silver proof sets I ordered for my kids came direct from the mint via automatic annual shipment. Quite some time after I ordered them I received a letter in the mail from the mint explaining that there were errors on the COA and two new "revised" COAs were included. I saved the letter, plus the two bad COAs with the sets. At the time, I didn't think anything of errors being worth anything, but now that I'm collecting I figure it's a good thing I saved that letter and the COAs.
So I looked it up online last night and it turns out there were errors in the coins too (disappearing 3 on the penny and weak lettering on the dime). Apparently there were 9,000 sets issued with errors and I have two of them. Seems likes they're worthless now, but this is the type thing that'll eventually have some decent value, right?
I just wish they would have sent me TWO letters with the revised COAs instead of just one.
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Pillar of the Community
United States
764 Posts |
i think collecting uncirculated rolls of cents, nickels, and dimes are a very good investment at the time. recent bu coins dont have much of a premium because of the availability of mint sets. since 2005, coins in mint sets have a different finish while circulating coins do not. those circulating coins will generally not be saved and may gain a premium if the demand stays high. its like the mid 1800's proof coins being a fraction of the value of the same year's uncirculated coins.
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Pillar of the Community
United States
673 Posts |
I am not sure about the 07 silver sets, I hope they do rise but... Anyone that missed the 99 sets will have gotten these for the same reasons, so there might be alot more 07 sets out there from the start this time (I don't know how limited the mintage is for this year) . I also agree with littleboy, uncirculated business strike coins since 2004 just might fetch a premium in the coming years (except maybe quarters which are being saved-and sold by the mint). Look at the 1982-83 premium on MS coins when there were no mint sets produced. The new satin finish coins in the mint sets are not "business" strike coins so it stands to reason high grade business strikes could become scarce in the coming years. |
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Pillar of the Community
United States
1840 Posts |
With over 800,000 minted I can't imagine they would gain or even retain their current value. Compare it to the 1993 silver proof sets. There were less than 600,000 minted and can be bought on ebay for about $30. |
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Pillar of the Community
United States
673 Posts |
There were also over 800,000 1999 silver sets minted snowman. The 1999, 2000, 2001, 2002 silver sets are all under 1,000,000 sets minted. The late comers to the State Quarter series were driving the 1999 sets I think, it has now dropped in price in the last year to $250 bid CDN. If the Presidential dollars prove to be popular with more collectors...the 07's could also have a short ride up. |
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Pillar of the Community
United States
2269 Posts |
I am having a tough time deciding if the 2007 Silver Proof set is going to be a winner. In 1999, when the mint offered the Silver Proof set, there wasn't as much interest in coin collecting, as there is now. But, with the mint offering so many Presidential dollar options, more collectors may just want to purchase the dollars by themselves. |
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Bedrock of the Community
United States
14454 Posts |
as was said above the Presidential dollars are no different than the set you can buy by them self or the ones you can buy with the regular proof set so I don't think they will be a factor in any price difference |
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Pillar of the Community
United States
6326 Posts |
The "Inaugural Year" of anything "new" is usually collectable right ? And in 2009 the Omnibus Bill signed by the President takes "In God We Trust" off of the edge of these Presidential dollars and places it on the face of the coin.....so that could be some info for you that's interesting, but they certainly aren't silver like the quarters were/are.......so that's a factor in value, and they'll have minted "Billions" of them and that's also a factor in value. I'm sure 10-12 years from now there will be people who will wish they had started the 16 year Presidential dollar Program in it's first year....... but with so many minted there will plenty of them in high grades fairly cheap at any time even 30 years from now........from what many members here say.... so.....there's that too to consider. Also keep in mind that these Silver Proof Sets will, in 2009, contain a newly designed Sacajewea coin and four new designs of the Lincoln Penny and new quarter designs of the U.S. Territories.........IT WILL BE A BIG BIG SET OF FRESH NEW COINS ALL THINGS CONSIDERED WITH THE Presidential dollars TOO........ I personally will always buy at least one of the Silver Proof Sets from now on......who knows .......might get lucky !! But if "fun & interesting" superceedes "coin value" then just go with it ! If a set actually becomes cheaper in later years than purchasing right from the Mint then it was a gamble lost .........but you're only talking a few bucks anyway.......It's not like you're buying 40 sets of them to sell on ebay to make money or anything |
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Replies: 13 / Views: 1,224 |
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Posted 12/28/2007 10:20 pm
