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 Replies: 11 / Views: 1,642 |
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Valued Member
United States
52 Posts |
Hello, I apologize for my ignorance when it comes to this stuff, but I inherited a small collection of uncirculated coin and proof sets from 1985-1997. I'm very confused as to the value. For example, I watched a you tube video of a non error 1986 proof penny sold for over 3,000 dollars at heritage auctions, but you can buy these proof sets fairly cheap on ebay, Amazon, Etsy etc. What am I missing? These are not error coins, but apparently were struck poorly that year, according to the youtube guy. I'm very sorry if this is not the place to post this question. I can't seem to find the answers online anywhere. I appreciate your time!   |
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Pillar of the Community
United States
1375 Posts |
 I'm not sure what YouTube video you saw, but you are correct in that the auction record for a 1986-S proof cent is $3,450 from a Heritage Auction in January 2003. That was for a coin graded by the Professional Coin Grading Service (PCGS) as a perfect Proof-70 Deep Cameo. There have been 142 1986-S proof cents graded by PCGS as PR70DCAM and recent auction prices have averaged around $200. As with any collectable, price varies with time, supply, demand, perceived rarity, etc. but I suspect the buyer at $3,450 regrets that purchase  As far as modern mint and proof sets in general go, you aren't missing anything. They are common and available as you say fairly cheaply from multiple sources. Most coins in those sets would not be graded as perfect MS70 (for mint set coins) or PR70DCAM by PCGS. Some collectors demand perfect, graded coins and are willing to pay premiums for them (hence the average $200 auction price for a PR70DCAM 1986-S cent). The sets you've inherited, in I'm assuming their original government packaging, will typically be worth less than $10 retail each. Edited by BadDog
06/25/2019 12:56 pm
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Valued Member
 United States
52 Posts |
They are all in the original packaging and I expected they were not worth a whole lot.
Excellent information, thank you!
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Bedrock of the Community
United States
94367 Posts |
to the CCF! |
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Pillar of the Community
United States
533 Posts |
Of course if there are any gold or silver proofs in there the price jump
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Valued Member
United States
52 Posts |
No gold,but I have 2 silver proof sets, 1993 and 1997, and I did see those sell for more. Thanks!
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Bedrock of the Community
United States
10038 Posts |
PCGS is a Professional Grading Services that has found a great way to make money as well as making a way their product can sell for very high prices. When they encounter an exceptional coin, they give it a high grade (which is what they are paid to do). They have what is known as a registry set in which some of the participants enjoy a type of competition to see who can put together and register the best set with PCGS. Since it makes sense people with a lot of money will be able to buy higher graded coins, prices skyrocket when the first (and maybe more) of a specific coin at a specific grade level is graded. Hence you sometimes see prices such as BadDog mentions. The system also has the affect of people seeing the high price, hoping they have something comparable, and so they pay PCGS money to grade their coins. The end result is PCGS (and other companies who grade coins) keeps making money, massive amounts of 1.00 coins get encapsulated in 30.00 slabs, and many people end up wondering why they did not ask questions first while they eat macaroni and cheese for a couple of weeks (well...not that bad, but you get the idea). You are one of the wise ones who asks first  As to selling value of the clad proof sets: We have a member on here, GR8, who has worked at a coinshop where they will buy proof sets from the 70s-90s for less than face value b/c not only do they have so many they cannot sell, but the only way to make money on them is to break them open and take them to the bank for face value. However, an individual such as yourself might be able to get a better price on ebay selling them together as one lot. Look at ended auctions to see if this is true and remember to figure in shipping and ebay/Paypal fees to see if its worth it to you. If not...they ARE nice to have and to look at! I have some sets from these years "just because." How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Pillar of the Community
United States
1375 Posts |
Quote:
...they will buy proof sets from the 70s-90s for less than face value... Hard to believe Who is dumb enough to sell at less than face value  |
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Bedrock of the Community
 United States
12839 Posts |
Perhaps Earle meant "less than original issue price"?  |
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Pillar of the Community
United States
1375 Posts |
Quote:
but the only way to make money on them is to break them open and take them to the bank for face value. Seems pretty clear that he is saying they are being bought for less than face value and then just deposited at face value. It's just hard to believe that someone wouldn't just spend them at face value on their own |
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Bedrock of the Community
United States
12839 Posts |
You're right...just read that a little closer. |
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Valued Member
United States
52 Posts |
Earle42 thank you. Of course, that makes perfect sense about the grading company, a business strategy, and not surprised, a bit of a game. Also, a little unsettling that one buys these sets, thinking it's a good investment, but most of the time, it isn't! While I agree, they are nice to look at, one would expect them to increase in value, so a little deceiving. I'm going to give them to my niece, they're not worth selling now. Maybe when she's old enough to retire in 40 years they'll be worth a little more. I really learned a lot today on this site... thank you thank you! I think I found a new hobby!
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Replies: 11 / Views: 1,642 |
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Posted 06/25/2019 1:06 pm
