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Grading Uncirc. And Proof Coins

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Mister Tom's Avatar
United States
13 Posts
 Posted 10/03/2012  09:29 am Show Profile   Bookmark this topic Add Mister Tom to your friends list Get a Link to this Message Number of Subscribers
My father (unfortunately) bought multiple sets of these from the U.S. Mint between 1976 and 2010. He didn't get every year, but most of them.

How do I judge or grade them to decide which to keep or value if sold.

Any suggestions of how to sell these to maximize value and reduce the losses?

Thanks for any suggestions.
Valued Member
FinanceGuru's Avatar
United States
337 Posts
 Posted 10/03/2012  09:56 am  Show Profile   Bookmark this reply Add FinanceGuru to your friends list Get a Link to this Reply
As proof sets they all should look good. However, check for any discoloration, scratches(use magnifier), and check for errors.

I'm sure some other people will have better advice.
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SeatedNut's Avatar
United States
2797 Posts
 Posted 10/03/2012  10:27 am  Show Profile   Bookmark this reply Add SeatedNut to your friends list Get a Link to this Reply
Mister Tom,
I would start by looking at the price guides to see if any of these are potential keys or semi-keys within the series.

Without any practical grading experience there's not much you can do except trust in other experienced graders. This is particularly true in mint and proof sets ... they all look spectacular. PCGS graded gems (MS69-70 or PF70) command big $$$$. This is because only a very few of the millions minted pass their strict standards. And to avoid "gradeflation" they usually reserve these grades for submissions from their premier customers (my take, others may disagree).

I would first find a local coin dealer that you trust and request their opinion. This may prove difficult as most dealers these days consider modern Mint products "dreck". They may not be willing to expend the effort.

Posting pictures here is sometimes an option, but in your case you would need professional pics for us to determine if the coin is a gem.

Sorry to paint you into a corner here, but this is the reality of modern mint products.
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jbuck's Avatar
United States
188213 Posts
 Posted 10/03/2012  12:06 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
My father (unfortunately) bought multiple sets of these from the U.S. Mint between 1976 and 2010.
I do not see anything unfortunate in that, but I am an optimist.


Quote:
Any suggestions of how to sell these to maximize value and reduce the losses?
Typically, selling the individual coins will generate more profit than selling a set. However, selling them individually will require more work; this included breaking apart the sets (where the risk of damaging a coin is not zero).
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macmercury's Avatar
United States
5826 Posts
 Posted 10/03/2012  2:24 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
All is not lost if you can check if there's any error like FinanceGuru stated, if there are non and if you have time, learn to grade them before selling them. You may take interest afterward and keep some.
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jbuck's Avatar
United States
188213 Posts
 Posted 10/03/2012  3:56 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
You may take interest afterward and keep some.
This is always my hope.
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Mister Tom's Avatar
United States
13 Posts
 Posted 10/04/2012  12:01 am  Show Profile   Bookmark this reply Add Mister Tom to your friends list Get a Link to this Reply
The reason I said unfortunately is due to the fact that he spent between $7.00 and $15.00 per set and current resale is far less than what he paid 15-30 years ago. The Mint sold far more of them than the market can support.

If they were bought for a collection at 1 or 2 per year it would be a different story.
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jbuck's Avatar
United States
188213 Posts
 Posted 10/04/2012  11:57 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Ah, understood. I originally read "multiple" as referring to the grand total, not the total per year.
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ken052376's Avatar
United States
63 Posts
 Posted 10/04/2012  3:58 pm  Show Profile   Bookmark this reply Add ken052376 to your friends list Get a Link to this Reply
Just my 2 cents but I see the sets with Ike's selling for 10-15 on ebay. Personally I love sees and am trying to collect a proof and mint set from every year.
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