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 Replies: 22 / Views: 3,789 |
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New Member
United States
7 Posts |
I just recently decided to take on this hobby and I am doing my best to learn everything I can as fast as I can. Today I went to a local coin shop to acquire some supplies (Gloves, magnifying glass, 2x2's, etc. While I was there I noticed they had several proof sets (which is what I want to start my collection with). I ended up purchasing a 1999 silver proof set, a 2000 silver proof set, and a 2007 mint set. While I was looking to purchase the 2000 set I noticed that the 50 cent piece had a clear finger print mark on it.
I was under the impression that these are not supposed to have been handled by the mint at all and this kind of thing should not have happened there. Now, I showed the dealer this and he seemed displeased, but marked it down to $15 for the whole thing. Even if they are fake $15 won't break my bank so I bought it anyhow.
I have been looking everywhere online for about 4 hours now and as far as I can tell the plastic case for the coins is undamaged and appears unopened.
My question is this; how can I be certain what I bought? Like I said $15 is no huge deal, but I need to learn now before it becomes $150 or more.
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Pillar of the Community
United States
2200 Posts |
All proof sets are supposed to come directly from the mint. And you're correct, the quality control that goes into making proof sets should have prohibited a fingerprint on the coin.
The 2000 proof set is not rare, so there really is no reason to suspect that it might be fake. Generally speaking, fakes are only made of rare coins. Somehow, someone must have gotten a fingerprint on it while transferring the coin to the holder.
Bizarre. Are you sure what looks like a fingerprint isn't actually on the holder itself?
BTW, I would have thought your dealer would have given you your money back. It's clearly a defective proof set. Proof coins are supposed to as close to perfect as can be. He should have apologized and offered a refund immediately.
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Moderator
 United States
23522 Posts |
Welcome to Coin Community, guardian1816. Your thinking is correct; that fingerprint should never have appeared. It isn't the first time, though, and there is no cause to doubt authenticity.
For the record, some will advise using gloves but I am not one of them. I'm unwilling to surrender the feel which gloves take away. Professional graders don't use them either.
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New Member
 United States
7 Posts |
My apologies Jpsned my wording wasn't very clear. I noticed the fingerprint before the transaction occurred. The shop owner wasn't even going to sell it to me after that. I thought about it while I was there and figured if he would give it to me deeply discounted I would still take it. He offered $15 so I decided to take it. Since they are not that rare, I will just look for a better quality one down the road.
Thanks for the replies at least I know I probably got a good set (with exception of the fingerprint)
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Valued Member
United States
325 Posts |
you could take that mint set apart and put the individual coins in Danscos as you build your collection.
That is the only way to get some of the coins in Brilliant Uncirculated condition for the books. Put the 50 cent piece
aside for later.
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Rest in Peace
United States
18456 Posts |
 Hope you have a better experience with your next purchase of coins. BTW keep that proof set intact. it might be worth something one day as a u.s. mint error. |
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Bedrock of the Community
United States
20753 Posts |
To start with simply purchase a copy of the Red Book by Whitman Publishing. Don't rush out buying STUFF like gloves, holders, tubes, etc. until you know what your doing and why. Try to remember that this is a hobby and is SUPPOSED to be fun. It will not be fun if and when you find your spending lots of money that you shouldn't have. In the back of that Red Book is listings of approximate values of Proof coins. Usually rather inflated prices though. Look through that book for what you like. Also, you might want to spend a bit of time on the internet with such web sites as Whitman Publishing, coppercoins.com, Numismedia, etc. Much better to know what your doing rather than just rushing into something. |
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Valued Member
United States
337 Posts |
Welcome to the forum guardian. As most have stated about the proof they are most likely real and the fingerprint was just an accident kind of like the milk spots that develop. There's a lot that you can learn on this site and there is a ton of very knowledgable people that enjoy helping/educating all collectors new and old. I'm amazed at how much knowledge I have accumulated in numismatics over the past two years with help from other members and doing research on sites like those mentioned above. As a new collector you might want to try and roll search to get your collection up and running a little quicker and the finds are at face value minus gas and time.
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Valued Member
United States
71 Posts |
I would also recommend buying a Red Book, as a newby I found this to be a great read. Also if you go to one of the chain bookstores the 2014 version may be available for a deep discount. I was in a Books A Million store last week and they had them for $3.97. |
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Moderator
United States
188213 Posts |
For the record, those proof set lenses are very easy to open and close. It is possible that half dollar was handled post mint.
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Pillar of the Community
United States
7375 Posts |
I give you credit for looking closely at the coins and noticing the fingerprint pre purchase.
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Bedrock of the Community
United States
17884 Posts |
While they shouldn't come from the mint with a finerprint on them, it can happen. Also like Jbuck said the proof sets since 1999 can be easily opened and reclosed with no evidence of tampering so the fingerprint could have occurred after it left the mint.
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New Member
United States
7 Posts |
To good to be true....this is a phrase I keep hearing over and over again while watching various videos people make. The context is that if a price on a coin seems to good to be true, it probably is. With that in mind, I also purchased a 1999 silver proof set from this same dealer for $95. The coins themselves compare very closely with the silver proof set I got directly from the US mint last week. However, I am looking at the Red Book and each of the silver quarters in the set run about $30 at the grade of PF-65 and the set itself is $135 according to the book. I am not looking to sell, but I sure am confused. If I rip apart the set I have $150 in quarters (plus the other coins), but if I leave it together it is $135. Then I paid $95 for it. Am I just being paranoid or does the price I paid seem suspicious? Edited by guardian1816
02/18/2015 5:15 pm
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Pillar of the Community
United States
3486 Posts |
Paranoid? No. Concerned and questioning? YES! Most members will/have tell/told you that the Red Book, while invaluable for learning, is NOT reliable as a price guide. To be blunt, if you rip apart the set you will have several quarters and the rest of the coins. You would need a willing buyer to determine a price. " to learn everything I can as fast as I can " Please change your goal to " to learn as much as I can from the best teachers available." There are thousands here at the CCF. And they LOVE to teach. |
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Moderator
United States
23522 Posts |
That's about the going rate for such a set.
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Bedrock of the Community
United States
11951 Posts |
I agree, that a fingerprint could end up on a mint product. I think it would be rare. If your buying the set at less than melt, then you doing fine. I would check the set to make sure the coins had not been switched with clad proofs. As for the prices of sets ... Like the 1999. Learning what coins should buy and sell for, is a never ending task. I don't think you did bad buying the set at $95. When I am buying sets like that, or higher priced coins, I try to check greysheet and auction sites. Last time I looked at a greysheet for the 1999 silver proof set, I think it was listed at $70. Learn that a dealer will Buy your coins at less than greysheet. How far back might depend on how hard or how long it will take him to re-sell the item. Also check out sites like ebay to see what they sell for. Learn the range something is buying and selling for, then you can decide what price you will feel comfortable paying. Price guides, like where you are seeing the single proof coin prices, have prices that would be very hard to get ... If you wanted to sell. Most dealers would not get those single coin prices ...because most customers would figure out it would be cheaper to buy the set. |
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Replies: 22 / Views: 3,789 |
Posted 02/17/2015 6:34 pm
