|
Valued Member
United States
123 Posts |
I'm not generally a big fan of modern U.S. coins, but I like to keep one example of each of the typical circulation issues. I don't know why - perhaps it has become a habit. Maybe I should spend my money on something else instead.
Usually, I buy the mint set, the clad proof set, and the silver proof set of each year. Unfortunately, in 2004 I got around to it late and the mint set was sold out. Now it is trading for $70 or higher, and I really don't think it is worth anywhere near that much. I'm definitely not going to pay $70 for a modern set of ugly coins; I'll wait for the price to come down. I would rather buy something interesting for that price.
What is going on with these common modern issues? As I look back, I find that some of the sets that are in my collection have skyrocketed, even though they are not rare by any means. One thing I have noticed over the years is that some issues increase considerably in value, only to peak and come back down in a decade or two. Perhaps this happens when the secondary market catches up with a decreasing demand. Long-term investment potential of these issues doesn't seem to be very good, but for those who like to gamble, there may be some opportunities. The trick is to figure out, before they are sold out from the mint, which sets are likely to skyrocket in value and then crash, and when the peak in value will be. A person could make quite a bit of money off a correct guess, but guessing wrong could be costly.
Maybe someone who avidly collects modern issues can explain why there is so much hype surrounding some of them. In my mind, they are nothing more than artistically inferior, incredibly common, uninteresting coins. Even the modern U.S. commemoratives are often hideous, although some have (amazingly) been attractive. I don't pay much attention to that series, but on the occasions when I have looked, I notice that some have caught on, while many others trade at well below the issue price.
I'm guessing that the 2004 mint set will come down in a few years, after enough people cash in on the high prices and the secondary market gets saturated. If it doesn't, I'll obtain normal circulation strikes to fill the hole. As I said before, it just isn't worth $70 or more!
I do like to complain about modern U.S. coins! I have noticed that I am not alone in this. Certainly, no offense is intended towards those who like them - what is good and what is ugly are matters of personal opinion.
Heather
|
|
Valued Member
 United States
123 Posts |
You may be right. Fortunately, I got the 2005 mint set. In the near term, the prices may well stay up. Still, I won't be surprised if they come down in a number of years after a lot of them end up on the secondary market.
Call me a malcontent, but I liked it better when the hobby was in a slump. Great bargains on U.S. coins and precious metals could be had then. Oh well; if I get serious about it again, I'll probably stick mostly to ancient coins. They don't seem to have moved nearly as much (except for a few popular issues).
Heather
|
Posted 01/15/2006 10:28 pm
