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 Replies: 12 / Views: 2,468 |
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Valued Member
United States
292 Posts |
I've made a list of the mintage of proof sets and uncirculated sets for each of the 1993 and forward commemorative sets. I notice the uncirculated sets mintage is always lower - sometimes much lower. I've managed to snag a few of these in both proof and uncirculated (some are via both in one case)
I seldom see the uncirculated sets on the secondary market.
My question is: Is it better to seek out the uncirculated sets vs the proof sets? I see there will be an uncirculated set of the 5 Generals, but so far do not see it for sale.
In other words, are the uncirculated sets more desirable than the proof sets?
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Pillar of the Community
United States
2543 Posts |
I think it depends on what you like. Some people consider proofs nothing more than specialty collector issues with no more collectibility than the latest Franklin Mint issue. Others feel that if you are going to collect a " type " of issued coin, it should be the best example available and that is a proof, specifically minted for collectors. And most often they are of a lower mintage.
Of course there is another camp that feels that coin collecting should consist of actual circulating or uncirculated legal tender coins. Not " collector examples " of circulating coins. Myself, I much prefer uncirculated versions. They seem more like U.S. coins. However, I do collect both.
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Moderator
 United States
15414 Posts |
Good question HaroldS that really must be answered by each collector based on their individual goals and interests.
IMHO the greatest joy of this hobby is that each individual makes their own determination of what interests them and seeks out coins that meet their individual needs.
In regards to the modern US commemorative series ... it is my view that all of the coins are desirable in either UNC or Proof ... take your pick for whatever makes you happy.
David
Take a look at my other hobby ... http://www.jk-dk.art |
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Pillar of the Community
United States
1109 Posts |
Like others said, I collect uncirculated and circulated U.S. coins. I do not seek out proofs usually. I do get the proof commemorative half dollars and if someone offers me a proof in a package deal with uncirculated or other circulated coins, I will take them, but I do not possess any collections of proof coins to speak of. On the other hand, I work with a guy who will not buy anything but proof. To each, their own.
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Pillar of the Community
United States
5206 Posts |
If I were looking to invest in the commemorative market I would buy every ugly and unpopular release in UNC condition and those seem to end up being the lowest mintage coins and in 5 years time seem to gain the most in value.
And on a side note proof coins if not stored properly will develop hazing (and sometimes if even stored properly)
Using my above investment theory I ALMOST bought the star spangled banner gold in UNC and was watching the countdown until the last day and couldn't justify the expense and I think the final mintage in UNC will be under 6,000.
However, unless your coin is slabbed as MS69 or 70 you will most likely not reap the financial benefits you are hoping for you instead of buying the ugliest designs buy the ones you like and enjoy them everytime you get them out.
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Bedrock of the Community
13014 Posts |
Quote:
And on a side note proof coins if not stored properly will develop hazing (and sometimes if even stored properly) Thats one of the things that got me away from proofs. They look GORGEOUS when you first get them but dont seem to hold up too well especially on the large dollar coins. The smallest little thing on a proof sticks out like a sore thumb with how good the mirrors are on them now which personally drives me crazy. |
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Valued Member
 United States
292 Posts |
Thank you so much for all your ideas. I kinda lean toward the uncirculated, mainly because of the lower mintage, but finding them on the secondary market has been very lean. I'm watching the 5 Generals for the uncirculated set to come out.
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Pillar of the Community
United States
899 Posts |
Harold - a good contrast to just how distinctly different the 2 can be is the recent Girl Scout commemorative. (check out the post in this section that has both side by side). The proof has the images of the girls on the Obverse appearing nearly cameo like and the UNC has them almost appear as if they are hardly struck on the coin. (IMO). The proof will probably have a higher sales number as well, and I am leaning toward the set as being a low seller overall, with the proof being easier to find in the secondary market.
Edited by Doug58s
03/24/2013 10:40 am
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CCF Master Historian of USA Commemoratives
United States
12267 Posts |
From the beginning of the modern US commemorative series, the proof versions of the various issues have been more popular with collectors and therefore were purchased from the Mint in larger quantities. It's for this reason that you have seen more proof commemorative coins/sets than uncirculated sets available on the secondary market - but all of the UNC sets can be found with some patience. For some issues, sets were only issued in proof versions â€" for example, the only two-coin set (gold half-eagle and silver dollar) offered for last year's Star-Spangled Banner was a proof set.
Regarding your question about which type of set to seek out...
I believe the "best" modern sets to seek out are the sets that you will most enjoy taking out and looking at from time to time. If you prefer the uncirculated sets (I do!) then purchase them, if you enjoy the look of proof coins then purchase the commemorative proof sets.
IMO, coins of the modern US commemorative series should not be purchased with the expectation that they will turn a significant profit upon resale (unless the value of the precious metal they contain rises significantly!). While some issues have appreciated well (mostly UNC coins), they have been a distinct minority and, today, their market prices have generally fallen from previous highs. Modern US commemoratives should be collected for the history they represent and the artwork they feature â€" any potential financial gain (if it happens) should be considered an unexpected bonus.
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Moderator
United States
188213 Posts |
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Modern US commemoratives should be collected for the history they represent and the artwork they feature -- any potential financial gain (if it happens) should be considered an unexpected bonus.  |
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Valued Member
United States
292 Posts |
Thank you commems and jbuck. Great information and I respect your knowledge. I too like the uncirculated mainly because of their lower mintage, but realize that low mintage alone doesn't mean anything if there is no demand. But doesn't their lean availability on the secondary market show that there is a demand?
If given a choice between proof or uncirculated I'd pick the uncirculated every time. (But I'm loving the few sets I have with both proof and uncirculated in one box.)
I know some sets were offered in various combinations. Is there a list anywhere that shows what combinations were offered for sale? For insstance, I didn't know the only two-coin set (gold half-eagle and silver dollar) offered for last year's Star-Spangled Banner was a proof set.
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CCF Master Historian of USA Commemoratives
United States
12267 Posts |
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But doesn't their lean availability on the secondary market show that there is a demand? Not necessarily. As fewer were originally sold, it is reasonable to expect that fewer would be available on the secondary market. However, I do believe that when most UNC sets appear for sale, they sell more quickly than the proof sets because there is enough demand to cover the supply. Quote:
Is there a list anywhere that shows what combinations were offered for sale? The annual " Red Book" (i.e., A Guide Book of United States Coins) does a good job of listing the various modern commemorative package options. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
03/26/2013 6:53 pm
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Pillar of the Community
United States
899 Posts |
Harold - I've found the commemoratives section of the RedBook list the various combinations of sets. I also like to pick up both the proof and uncirculated version of the coins and will do the sets when I have the chance, since I often find them to be cheaper than each coin individually. I also have found that the "young collectors sets" are another method of finding uncirculated coins - often less than some are selling the mint issued coins in the boxes. I'm not sure why, but it seems people overlook these as having a lesser coin in them or something I guess. |
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Replies: 12 / Views: 2,468 |
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Posted 03/23/2013 6:39 pm
