| Author |
 Replies: 17 / Views: 2,312 |
|
New Member
United States
3 Posts |
Whats your thoughts on Proof sets? I have been checking them out for a while and thought they were kinda cool looking. But I do have some questions for the "proof" pros. It looks like to me that there is a normal proof set and then there is also a silver proof set. I know that all sets 1964 and prior have the 90% silver dime,quarter and the half dollar. But what about more recent year silver proof sets. Are the coins in silver proof sets 90% silver? Also is it even worth collecting proof sets at all. I am not looking at making money on these or even don't mind losing a few bucks in the long run. What I don't want to do is drop all this money and only have some coins that I might get a few cents over face value. I hope I made sense. Somtimes when making a post it sounds good to the author but the reader might be lost. Also is there any websites that might help me more with the proof sets?
|
|
|
|
Pillar of the Community
United States
2373 Posts |
Just as a matter of preference I collected all the Silver Proof Sets since 1992. Not the Premiere, or the individual silver Quarter Sets. The quarters are included in the main set so I opted to pass on them. The nickels are not silver, but highly polished nickel compound. The 10, 25 and 50 cent pieces are 90% silver.
|
|
Valued Member
United States
177 Posts |
From 1968 until 1991 proof sets were clad coins only (plus the cent and nickel of course). Beginning in 1992 the mint started issuing 90% silver proof sets as well as continuing the clad proof sets. In 1976 the mint issued a three coin proof set (quarter, half and dollar) in 40% silver, as well as the clad set. The proof sets from 1968, 1969 and 1970 include a 40% silver half.
As for investment value, it's a crap shoot pretty much. Many proof sets from as far back as the 1970's can be purchased today for less than the original issue price. On the other hand a few of them have gained considerably.
Personally I like proof sets. I don't worry about them gaining or losing money; they didn't cost all that much right from the mint to begin with. That has been changing over the past couple years, though.
If you like the looks of them, go for it! Overall they're quite affordable unless you want proof sets from the early 50's and before.
|
|
Member
United States
3242 Posts |
1936-1970 Proof & mint sets were 90% silver till 1965 when the Kennedy half dollar was the only 40% silver & 10c+25c were clad or copper nickel till 1970. 1992 they started back with 90% silver Proof set half & 10c + 25c are 90% silver |
|
Rest in Peace
United States
1501 Posts |
I really like proof sets, they make up the majority of my collection. I have the San Francisco minted sets from 1968 through 1985 consecutive, then it spaces out a little '88, '89, '92 purple packs, 1996 green pack. I also have the special mint sets for '65,'66 and '67 not proof but a hybrid of proof/mint sets, and my earliest a 1960 proof set, all these being from the Philadelphia mint. I have also collected some of the more specialized sets 2005 and 2006 American Legacy Proof sets, a 1990 Prestige Proof set, and a 1992 Premier Silver Proof set. There are numerous ways to collect these sets get what you like and enjoy!! My latest purchase is a 2004 Silver proof set(haven't received it yet  ) but love to search for these sets. Most are still reasonably priced and (IMO) the finest examples of U.S. coinage. |
|
Valued Member
United States
178 Posts |
im thinking about starting to collect the silver state hood quarter proof sets in PCGS PF69 plastic. is this a good idea? or at least an ok one? I'm with the OP, not trying to get rich but I do want to buy things that if I ever had too, I could get most of my money back out.
|
|
Moderator
 United States
187862 Posts |
I had most of the proof sets from 1969 to 1987 until one day I decided it would be fun to break them up and fill those proof slots in the Dansco albums! For the record, it was fun and I do not regret it!
Re-collecting the proof sets is something on my "long list" of ideas.
|
|
Rest in Peace
United States
1501 Posts |
j-easy,
It would depend on how ambitious you are? The 1999 thru 2001 silver proof sets, might make it a little intimidating due to the prices, but if you can get passed those, you can find deals on the others. Plus since 2004 they have made the quarters available by themselves if you aren't interested in the other denominations.
|
|
Valued Member
United States
178 Posts |
yeah I found this site selling the 2000, and 2001-2008 sets for 80 bucks a piece. the 2002 is 100 and the 2001 is 110. they don't sell the 1999 set. these are all the silver quarters graded PF69 by PCGS.
|
|
Valued Member
United States
96 Posts |
It seems like everyone has answered your questions about silver content in proof coins..
As far as collecting them I do..I love the look!
My personal collection includes every issue back to 1951...the sets prior to that are extremely rare and quite pricey (even the 51, 52 and 53 are quite pricey).
And as for appreciation vs. depreciation, the coins will generally bring at least purchase price (with a few exceptions in recent years but this will change as the years pass too). Silver proof sets have appreciated more because of the boom in the price of silver, this is reflected in the US Mint's rising prices to purchase these sets as well. Proof sets go up and down in value with demand and market pressures.
An example:
In mid 2004 the 1996 Prestige proof set had a "greysheet" (that is a dealer to dealer price guide) ask of 650.00
Currently that same set has an ask of @ 450.00.
On the other hand the 2004 Silver Proof set had an original issue price of 37.95 and (although recently going up because of the silver) had a recent greysheet ask price of 29.00
Proof sets are generally down in price right now (compared to 2004) BUT they are starting to increase again..so as an investment..not too bad!
The original set from the US Mint was less than $30, I don't recall the exact issue price though someone here will probably correct me.
Edited by fasteddie
04/21/2008 9:09 pm
|
|
Valued Member
United States
79 Posts |
I have quite a few proofs including the 2001 set which has gained in price quite a bit. I decided to start filling in my proof sets and working my way back a little at a time. I bought all the 80's at well below the mint price at the time lol. The 1999 not gonna be cheap but hey there is always a couple tough ones in a set :)
Also thinking about Doing some Silver Eagle's I love the look of them
|
|
Valued Member
United States
96 Posts |
quote:
I bought all the 80's at well below the mint price at the time
I forgot to mention there was a great lull in coin collecting for many reasons and due to overproduction and lack of interest all the proof sets from 1973 or so to @ 1990 are very inexpensive and for the most part can be purchased well below issue prices. |
|
Valued Member
United States
69 Posts |
A friend at work gave me an inventory of his proof and mint sets he bought directly from the mint starting in 1971 that included the price he paid at the time. I have to go back and tell him today that they are right around the same price or a little less than he bought them for. On a positive note, he also bought the 1991 gold American Eagle 4 piece set for 999.00 from the mint so he has almost doubled his money on that set. I guess he could pull out the sets and see if there are any sets without the mintmark on the dime that would really make his day as these are quite valuable.
|
|
New Member
United States
22 Posts |
i have only been collecting for about 10 years now, and I have ammassed several icg pf70 silver and clad State Quarters sets, as well as an almost full set of icg ms70 eagles. the cost at the time versus the sell price over the past few years has allowed me to add to my silver eagle collection, ie... 1999 silver State Quarters pf70 purchased in 2000 for 180.00, sells for 350-500, my point being that if you arrive to the game late, you will pay the price. Start early and sell late!! |
|
Pillar of the Community
United States
1934 Posts |
I have too many proof sets..............1957 forward.
Coinaholic, you mentioned "hybrid" 65, 66, 67's proof sets. The 65 sets I have were issued in envelopes with S.S. printed on the envelope. The 66 and 67 were issued in slender blue boxes about an inch by inches long. What are "hybrid" issues?
|
|
Pillar of the Community
United States
2270 Posts |
"A friend at work gave me an inventory of his proof and mint sets he bought directly from the mint starting in 1971 that included the price he paid at the time. I have to go back and tell him today that they are right around the same price or a little less than he bought them for. On a positive note, he also bought the 1991 gold American Eagle 4 piece set for 999.00 from the mint so he has almost doubled his money on that set. I guess he could pull out the sets and see if there are any sets without the mintmark on the dime that would really make his day as these are quite valuable. It is remarkable how cheaply these sets sell. The '74 mint set is only 20% over face value for coins which are almost impossible to find except in this set. Indeed all of the nicest cents through half dollars from this date come from the mint set. There's a DDO Kennedy which appears in ~6% of sets. The combined value of the coins in a typical set exceed the value of an intact set. But it's this way almost across the board for most of the mint and proof sets; they get no respect until they are cut up. This has caused vast quantities to be destroyed and eventually the day will come that there just aren't enough new sets coming on the market to satisfy the demand for the parts or the entire set. I always recommend checking the sets for those building modern collections. Nice coins can be found without paying the huge premiums for slabbed coins or even the premium for singles. Time don't fly, it bounds and leaps.
|
| |
Replies: 17 / Views: 2,312 |
Posted 04/19/2008 9:51 pm
