Proof Sets, Sleepers, Bullish Or Worthless?

Well, here's the thing, not all proof sets are created equally. And what is happening in the market now- may not carry forward into the future. Generally speaking, proof sets from 1968-1972 have the most upside if they contain deeply cameo'd coins. Same holds true for proof sets from 1955-1964. Pre-1955 proof sets are increasingly hard to find in nice original condition with quality undamaged coins- these i'd keep.

Pre 1942 proof sets have nothing but upside.

If I was going to recommend to a collector who really wanted to have a good investment and liked proofs- i'd say this: 19th century proof sets, while pricey, are worth the effort. If you can't swing the bigger denomination coins- build minor proof sets. Cent, Three Cent Nickel, and Five Cent Nickel.

More challenging, more fun, and a bigger payoff. You can get a 19th century nickel proof for $200 or $300, same with the cent. In every single case, you will have a more historic and rare piece than nearly any modern proof set- unless it has rare varieties, or some other specific feature unique to it.

you are better off having fewer better coins in the long run- if you are in this hobby as an investor.

Proof and mint sets from the late 1960's to the 1990's seem to have a huge supply and not much collector demand to keep prices up. These products have been one of the worst 'investments' in numismatics with many being worth less than the issue price. If you can get a decent price for them I would suggest liquidating them. Most dealers that I know don't want them because already have plenty in their inventories. They can't sell them and thus have to wholesale them to large national dealers at heavily discounted prices way back of sheet.

If you have a buyer I'd sell them if I were you and get some of those nicer coins you have been wanting. I can't imagine me looking back and wanting my 600 proof sets after I got rid of them. But I am not a date collector so...

I too collect proof coins but I would not want more than 1 set per year. As many have said, they are not the 'best' candidate for value appreciation. So, my suggestion: Picking one best set per date, selling the rest, get that money, buy some key date coin, early date proof, silver coins, gold coins such as Reverse Proof Gold Buffalo, etc.

Good luck.

Proof sets have been an enigma since 1968 in terms of price prediction. They are very high priced for the first three years after mintage and then they tend to drop sharply. They go up when the market is strong and lose up to 60% of their value when it's weak.

Someday clad proof sets could do very well because attrition is fairly high and lots of people like their quality but that day could still be far in the future. Right now these sets are exceedingly weak and this especially applies to the ones since 1988. If I were in at a good price I might be inclined to hold them for an improving economy. If you thinkthe economy will improve sit on them, if not dump them.

But it might not be a good idea to hold them for the long term. They take up a lot of room and poor storage can ruin them. When the price goes up just pick out the nicest sets and dump the rest. You might want to keep an eye on this market though because eventually there will be demand and there isn't going to be the overhanging supply. That's when you want to buy if investment is your goal. As others have suggested investment in coins is risky.

You might have fun collecting these in the interim. It's not extremely difficult to find sets that have all very high quality Gems and a set of these would be quite impressive. Maybe you can find some varieties. The 70 sm dt and '81 type II mm's aren't too tough.

Here are my 2cents,

With 650 proof sets, I'd build myself a complete set using the best sets available. Second, go through the rest a pull out & keep the key-date sets. Then sell off the rest and buy the coins or bullion of your choice.

It is ironic that coins nobody wants today often become highly desirable in the future.

I enjoy proof sets and have a complete collection from 1960,
I'm working my way back.
From where I'm sitting they are not a good investment, actually a bad investment.
But I like them and will continue building my set.