Phil Ham

I am new to this website and find it very informative. I was trying to find information on the decreasing value of 1999 clad and silver proof sets. It seems like they've been losing value over the past year. At a coin show about a month ago, a coin dealer suggested that the prices of these proof sets was declining as well as other proof sets because HSN and others weren't buying them up as fast as they were a while ago. Does anyone have any comment on the value of proof sets?

ps. I hope it isn't true since I'm sitting on a plethora of them!

Vess1

I hope it is true because I need a 99 silver quarters set for my collection and I'm not willing to pay the outrageous prices they've been. They're either going to come down or I'll never own one.

A 5 silver quarter set is not worth the equivalent of a gold half eagle. To me anyway. I don't need to finish the set that bad. I'll buy the 01 set for 80 bucks but that's as far as I will go for these.

If I had a bunch of them, like you say you do, I'd start dumping them. That's just my opinion. I don't believe they will sustain the level that they've been at. I'd take the profits and run while you can. Save a couple just in case I'm wrong.

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jaceravone

I haven't noticed a dramatic drop in prices, although I have noticed a small fluxuation up and down which I suspect is normal. If HSN and others are buying up all available supplies, this would be a good thing. It is about supply and demand and if the overall market supply drops because a few groups are buying them up, it would only make sense that they would increase in value. When a few groups control the supply, they also control the prices as well. Just hold on to them, you will be fine. And please sell Vess one that poor fella.

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green18

LOL...Guess I bought too high.

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Boss

Phil, I bought the 2006 ASE Anneversary set for something like $600 and now worth in the $200-300 range or so. You win/lose some. I think the 1999 Silver sets will do fine as the state quarters are one of the most popular series and most new collectors seem attracted to coins by these- just my opinion

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The_Cave_Troll

the 99 proof sets (the silver in particular) have dropped sharply over the past year for exactly the reason mentioned to the OP by that dealer. HSN doesn't need them anymore, so dealers don't want them, so they trade for less money in the marketplace.

The silver sets used to be unobtainable for un der $400 and now you should be able to buy a set for around $300.

edited to add: I expect them to continue to fall over the next few years.

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FreakyGarrettC

Mine will go bye bye then. If the price is going to continue to drop.

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The_Cave_Troll

understand that what I said is my opinion based upon my experience, but it is by no means set in stone. That said I have sold mine, except for the one set that I am keeping for my set so I definately put my money where my mouth is on this one.

__________________
"From time to time the Tree of Liberty must be refreshed with the blood of Patriots and of Tyrants."
-Thomas Jefferson

desertgem

I have a feeling that as the next year moves through, many collectors will be adjusting their holdings. IF they had bought with investment in mind.....heck, thinking about it, many may be selling coins they have always said they would never sell. I have the gut feeling that the bargains will sell, and the high grade or rarities will sell, but it will be tough selling AU walkers or similar middle collector coins except as bullion.

The local coin store had a person bring in a milk carton filled with mint sets, all the way back to early 60s. How many 1964 mint sets can you put into inventory. The guy was told to go ebay. No profit in them he said. I don't collect them so I have no interest.

Jim

The_Cave_Troll

You just gotta buy those as junk silver at 6.5-7 times face. unfortunately that is all the market there is for them. It feels weird cutting up mint sets and dumping the coins into bags of junk silver though.

__________________
"From time to time the Tree of Liberty must be refreshed with the blood of Patriots and of Tyrants."
-Thomas Jefferson

green18

Almost sacrilegious....

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They also serve who only stand and wait....John Milton

zekeguzz

Pardon my ignorance but are you people saying that proof and mint sets will eventually go for less than what the mint originally sold them? Or are you saying the profit margin is drastically getting less?

Vess1

It's common for proof and mint sets to sell for less than the mint issued them. I saw a show on tv that was trying to sell a proof set from the 70s for about 50% less than mint issue price. Just check out the back of a Red Book some time.

I think the profit margin will be drastically less because as what someone else said, the state quarters are hot.......right now.

You would have to be under the impression that they will be hotter in the future once people are used to them and there's no longer any publicity or focus on them, for them to increase in value from what they are now.

Either the 99 set is way over priced or the 2000 set is way under priced. It costs me nothing to wait and see.

The 2000 silver set had only 160,856 more sets issued than the 99, yet can still be had for nearly issue price. While the 99 quarter set alone is going for 10x issue price of the entire 99 set. How can there be this much discrepancy?

Maybe investors bought up huge amounts of the first year issued and are sitting on them hoping to get rich? Well, as far as I'm concerned, they can sit on them until they come down to around a hundred bucks. Which is still probably too high. If a 200% profit isn't enough they can sit on them the rest of their lives for all I care.

I guess I should apologize for not being in the hobby in 1999 and buying mine as a collector, at a sane price.

__________________
When the well's dry, we know the worth of water.
- Benjamin Franklin

spock1k

will that 2008 ASe witht he wrong u drop in prices as well

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bama guy

They have dropped some lately Spock but still a pricy coin