Wow - great supporting comments ... many thanks!
I'm going to include the 1998-2000 Mint Sets for the possible
WAM LMC variety .... I can identify that one.
Although the suggestion is correct ... I'm not going with the 1989/1991 JFK and
SBA varieties since I do not have the expertise to identify them.
Quote:
Does your friend wish to sell all of his numismatic inheritance?
Indeed ... off it all goes to a trusted dealer friend of mine.
I've previously evaluated the raw coins in the inheritance and gave her an inventory with approximate wholesale prices a dealer would pay ... on the order of $3K so not that BIG of a deal but some nice early 19th century type coins.
She has three large storage containers of mixed Proof/Mint sets ... and does not feel like hauling them into work a few sets at a time.
I've revised my advice to include a 'strategy' for her efforts as she sorts through them ... final guide below:
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I printed the current
Numismedia Fair Market Value (FMV) guide for you. This gives the current retail price for every US Proof and Mint set ever made (1936 to date). You should expect somewhere around
50% - 60% of that price if you are selling in bulk to a dealer.
In general, most modern (1965 to date) Mint or Proof sets are of low value. There are some significant exceptions - hope you get lucky!!
All Mint or Proof sets prior to 1965 have enhanced collector value as the dime, quarter and half dollar are 90% silver. There is also significant numismatic appeal to those sets. The retail prices are reflected in your
Numismedia guide. Set these aside when you bring them to the dealer.
You need to be careful to examine the composition of the coins in all
Proof Sets minted
1992 to date. Public Law was enacted then to allow the US Mint to produce Proof Dimes, Quarters and Half Dollars in both Cu-Ni clad and 90% silver versions. The silver Proof Sets are valued much higher for each year. Set those aside into a separate stack when you bring them to the dealer. If the sets are still in the Government packaging, then the silver ones will be obviously labeled. If in doubt ... bring them to me.
You might have some
Premier Proof Sets. These were issued 1992 - 1998 and contained the same coins as the standard silver proof set but in enhanced packaging. Values are slightly higher than the standard silver sets. I've included a description of these for you to recognize the difference.
There is a special class of modern proof sets known as
Prestige Proof Sets. These are specially packaged sets that also contained the proof commemorative dollar for the year. Made from 1983 through 1997. I've included a page of description on them. Retail prices are given in your guide.
The final special presentation sets you might have are known as
American Legacy Proof Sets and were issued for 4 years (2005-2008). Kind of a re-do of the Prestige Proof Sets where one or more of the commemorative dollar were included. I've included a description so you know what to look for. Retail prices are given in your guide.
If you have any modern
silver Proof sets ... be mindful that the 1999-S ($110 retail) and the 2012-S ($225 retail) stand out as the most valuable.
There are a number of years where the mint made a mistake and did not include the San Francisco (S) mint mark on certain
Proof coins. All of these are very valuable! The potential is only in
Proof sets ... not Mint sets. Check each of the following years very closely:
o 1968-S Proof Set ... No-S Dime ($15,440 FMV)
o 1970-S Proof Set ... No-S Dime ($930 FMV)
o 1971-S Proof Set ... No-S Nickel ($1,480 FMV)
o 1975-S Proof Set ... No-S Dime (Retire ... only 2 known!)
o 1983-S Proof Set ... No-S Dime ($770 FMV)
o 1990-S Proof Set ... No-S Cent ($5,190 FMV)
There are seven years where a specific variety is possible to find. The diagnosis requires specific numismatic knowledge. Bring to me any of the following sets:
o 1960 Mint or Proof sets. I'll check for the small date cent variety.
o 1964 Proof sets. I'll check for the accented hair half dollar variety.
o 1970 Mint or Proof sets. I'll check for the small date cent variety.
o 1981-S Proof sets. I'll check for the Type II mint mark variety.
o 1998, 1999 or 2000 Mint sets. I'll check for the
WAM cent variety.
Your Strategy for Sorting - 1 set at a time Keep this guide handy!
Place every set into one of five piles:
o Proof or Mint sets 1964 and earlier
o Silver Proof sets (1992 to date)
o Any Proof sets in the three special packaging configurations discussed above
o The specific 7 years of sets mentioned above for me to check for potential valuable varieties.
o Everything else. This is your 'low value' pile and will consist of Proof (non-silver) and Mint sets 1965 to date that do not fit into one of the piles above.
Be sure to check the appropriate year Proof sets for the No-S mint mark variety.
You should now be able to use the
Numismedia guide to obtain a fair dealer purchase price ... 50% to 60% of retail .... might even be lower for the sets in your final pile.
Have fun ... bring me anything you have a doubt about.
Best - David
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This was a fun research project to compile ... and hopefully a useful guide to any future non-collector folks inquiring about valuation of their Proof/Mint sets.
Feel free to use it as you see fit.
Many thanks to the CCF members for your support. I'll certainly tell my friend that the 'guide' was supported by some of the most knowledgeable numismatists in the world.
David
Posted 07/25/2015 11:39 am
