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 Replies: 25 / Views: 4,276 |
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Moderator
 United States
54282 Posts |
Terminology for those new to the hobby.
"Proof Set" contains proof (special quality) coins.
"Mint Set" does not contain proof coins.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here)Edited by nss-52
06/11/2016 09:03 am
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Valued Member
United States
424 Posts |
Foxwoods Man- it is a long and boring story that involves more hotels in more states that I care to remember, but if I am patient enough then I can get coins for free sometimes.
nss-52, oh yeah I know the diffence I was just trying to be all inclusive of the mint issued sets for 2012. I'm old, I have been around the hobby for a while (40+ years now).
This is my 200th post, a short little dumb one. Cool!
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Pillar of the Community
United States
1499 Posts |
Some Proof sets go through these funny periods where the prices are high for a while. Far more often than not the prices settle back down in a few years and stay low from that time forward. The only recent Proof set price that made any sense to me was the 1999 silver while collectors were still enamored with the State Quarter series. The mintage was less than a million sets, which is low by modern standards. Once that program came to an end, the price started drifting downward and will probably continue to do so. Overall Proof sets are fun, but they are very poor investments. Many of them sell for a good deal less than their issue prices, and some are barely over their face value. That's why I only collect the silver sets. At least I have some silver if nothing else, and I've taken care of my collector's "sweet tooth" for some coins from every year. Many dealers will not pay the Gray Sheet prices for Proof sets, especially the expensive sets like the 2012. I don't blame them. These things can sit in inventory forever, and while they set there the "mythical **" bids go down, leaving the dealer to hold the bag. If, as a dealer, you see no profit potential in something with a high bid YOU can't justify, you are perfectly within your rights to pass on buying an item or offering a low ball number, provided you explain the situation to the seller. ** SOMEBODY must be paying those "mythical" bids on the Gray Sheet, but when I was dealer I had no idea who they were. They certainly were not at the shows where I did business. Edited by billjones
06/11/2016 10:44 pm
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Bedrock of the Community
Australia
21788 Posts |
Coin businesses like any other business, need cash flow.
Stock hanging around is money tied up, and not even earning investment interest. That makes it hard for the business to buy new stock from passing trade.
The Mint when producing new product, is only concerned in maximising their own profits, and only have very minor concern for the profits of a coin business in the aftre market.
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Pillar of the Community
United States
1817 Posts |
Proof sets are a tough sell, learned that the hard way. Got rid of the majority of them after the end of the State Quarters. Now the only coins I buy from the proof sets are the silver ATB Quarters in roll form, and as many of the silver Kennedy halves as I can snag, singly or in rolls. The sets themselves take up so much room. The Kennedy silver half is not the only key in the 2012 silver/clad set, the five golden dollars also average $15.00-$20.00 per coin. Eventually the 2012s will come down just the 1999s in the last four years. |
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Bedrock of the Community
Australia
21788 Posts |
It is good to read this thread and note that a least a few of us are doing their after market price researech, and comparing their findings against the price of new mint product pricing.
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Pillar of the Community
United States
1913 Posts |
Quote:
2012 was a strange year for mint sales. For some reason that I do not know the US mint unexpectedly stopped sales of the mint and proof sets before the end of the year. And people like me who would wait until December to purchase their sets got hosed. :( |
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Pillar of the Community
United States
4901 Posts |
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New Member
 United States
4 Posts |
Well I sold all my sets on ebay for $99 a piece. Didn't want to chance on it going down later or holding onto it for 10 years and it being the same price. Considering I paid $15 each I'm happy and on the hunt to add more to the collection. Thanks for your help |
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Pillar of the Community
United States
666 Posts |
This is a very informative and helpful thread. It answered almost all the questions I had about buying proof sets from the US Mint. I had been cautious because my father had purchased 1975 and 1976 proof sets, which currently sell for about as much as he paid for them 40 years ago. One question though: @Bizybackson wrote on 12 Jun 2016, "...Now the only coins I buy from the proof sets are the silver ATB Quarters in roll form, and as many of the silver Kennedy halves as I can snag, singly or in rolls." What is it about those particular coins that make them worth purchasing? (This question is really for anyone, although I'm of course interested in Bizy's opinion.) Let me see if I can think of some reasons, as it sometimes irritates me when people ask questions on forums without given any thought to the query or doing any research themselves. (Although that happens much less often on CCF than other forums I've been a member of.) I've always liked the Kennedy half dollars, so I can see buying them myself simply because I like them. I can also see the value in buying singles or rolls because you are getting precisely the coins you want, as opposed to buying a set of the current year's coins. And I imagine silver coins will almost always have more appeal than nickel, copper, manganese, etc., because it's a precious metal. ~ Mark |
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Replies: 25 / Views: 4,276 |
First Page
Posted 06/11/2016 09:18 am
