Im new to coin collecting, and was just on the US Mint's web site looking at 2011 proofs. Question is; are they worth buying?
I'll let someone with more experience tell you if they are worth it. I tend to buy the silver proof sets. Although I have nothing to back my claim, I believe them to be a better buy in the long run due to it's silver content. Please someone correct me if I am wrong. Thanks.
Don't purchase them by the dozen, but to collect and you will be safe. You will not make money off the mint unless you purchase silver and it goes through the roof. If you are looking for a quick profit, better to go to the Casino in my never to be humble estimation. :hail:
I, for one, think they are. One reason is I don't have to wait until the end of the year and the last release date on the Presidential dollars, and ATB quarters, because the proofs will have been made and placed in the lenses for the sets from the Mint. My order from the Mint, annually, is 2 proof sets, and 1 uncirculated Mint set. One proof set remains in the OGP, and the second the coins are removed for placement in 2x2s and 20 coin binder pages. The uncirculated set remains in OGP.
That's not necessarily true. You can order a dozen proof sets, your shipping cost is only $4.95 for the entire order, not for each set. Many dealers in my area buy 12-15 proof sets and uncirculated sets, and retail them for $39.90, the issue price of $34.95 each set, plus $4.95 for shipping. It's not a huge profit, but it's $70 more than they had when they bought the sets.
Oh, I totally agree and I digress. My point is that the love of Numismatics has been largely lost over the love of profit. Buy them by the dozens if you want and relish the savings / profits you have made by saving the shipping and adding the $4.95 or whatever profit. I can't argue with that reason. Shallow comes to mind.
You may want to read the last few pages of this thread about the 2010 & 2011 Silver Proof sets low mintages :thumb: http://www.cointalk.com/t189818-22/#post1334807
Welcome. It really depends on what kind of a collection you want to have. If you're planning on getting a set every year, I think its worth it. But if you're only into specific coins it might not be.
Worth it ? I assume your real question is - can I make money if I buy these sets ? Answer - probably not.
I buy all mint and proof sets from the mint in their year of issue. Can I get a better price from a dealer? Maybe...
I buy 1 silver proof set and 2 uncirculated sets where 1 of the uncirculated sets gets broken up for separate collections (presidental dollars, quarters, etc). At times I might buy the regular proof sets, out of those 3 types, if you're going for longterm value, the regular proof set is likely the less desirable and less profitable. As a collector though, if you never intend to sell them, if you like them, buy them I say.
