Proof and UNC Sets

I have heard talk that buying these are a waste of money and that they seldom hold their value. Is this the concensus of everyone here? Regardless I won't stop my collecting as I am close to completing my UNC collection and my proofs I have back to 1955. I'm just curious as all. Thanks!

 

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i would tend to agree ... i dont think most people buy proof or unc sets to make money.

sometimes you get lucky though ... like with the 1970 Mint Set ... but that happens very rarely.

you are much better off just buying pure bullion if you want to make $$$

I've been collecting coins since 1967 or so ...
and i am probably at a loss or break even on all the non-bullion coins i've bought
while i have probably made about $60,000+ on the bullion i've bought.

so my gains in bullion have funded my more interesting and fun hobby of collecting old coins

 

As a general rule, No they don't hold their value. After a few years their values drop considerably. But once they do stop falling they tend to hold that value and very slowly rise as time passes. But if you like collecting them, by all means continue. Just understand that you probably won't make money on them.

 

i have to admit i did buy one 2010 proof set because the melt value and the dollar coins made that set an interesting buy at $56

however the $11 price rise on the 2011 proof set killed that

i also bought a 1968 proof set ( i forgot what i paid though) ... after holding that for 43 years i would be surprised if I could get what i paid!

 

The problem with mint and proof sets isn't the cost in the retail market since they are a virtual steal if you buy them today. The problem with these is that they are just too popular. Why they are popular almost defies belief and this especially applies to the early clad sets. There weren't more than a few dozen collectors inthe whole country and they's sell a couple million mint sets and three million proof sets. The proofs were a little more understandable but the mint set demand was just crazy. Part was that these were the only mint products available in the early days so it was these or nothing. Another factor was rampant speculation. You could order your maximum five sets and if you got early delivery you could sell one or two and recoup all your money.

The problem with these sets is buying them directly from the mint. It seems no matter where they set the price they simply swamp the current demand so the price starts dropping within about three years. Some of these drops can be steep.

Collectors are well advised to poke through these sets looking for gems and varieties and setting them aside once the price has dropped.

Of course eventually there will be too many people waiting for the price to drop so it won't. Look at the mintages. They've been trending down for years even as the demand soars. Eventually collectors will have out thought themselves again and the prices will start rising after issue rather than falling. That 2009 mint set certainly seemed to be dramatically underproduced.

 

Maybe not in my lifetime, but somebody will eventually make good on these sets. Companies like Abon open up 100,000's of thousands of these sets to sell individual coins on the open market...keep on crackin out them proofs!

 

Proof and Uncirculated sets well worth the price.

Yes the prices are high, but the chances that you get a proof error of any type in the secondary market are slim to none. Sometimes you will see folks bring proof sets into dealers for a pittance, and as soon as the seller leaves, the jeweler's loop comes out and the search is on. There was a man who said to me that he had every proof and uncirculated set issued since 1945, and three of each. I offered to purchase, and he would not sell them. He was either just talking or knew what he had. If you put unopened boxes of sets of proofs away and wait, something will happen in the market- doubled dies will appear, or rare error strikes, like the Platinum recently- that reward you. I put a box of Presidential proof sets away in the same week that there was a segment error found in the Proofs. One thing is for sure though, you are NOT GONNA GET this year's silver proof set cheaper next year. Or any other silver proof coin, for that matter. Proof and mint sets are worth it.

 

I buy mint and proof sets because I like them. It is like buying a car. Do you really think that a new car will hold it's value over the years; no! A mint or proof set hold their value better than most things. If you want to make a real value deal, buy stocks, bonds, or CD's. I've made more in those venues than coin collecting. I must say though, I have more fun with my coin collection!

 

Phil I couldn't agree more. I collect because I like the art of coins, the history and appreciate the work involved in the making of them.

 

I must say...you are a spectacularly intelligent fellow! :thumb:

 

UNLESS you're this seller.....

http://cgi.ebay.com/ws/eBayISAPI.dl...9&si=eshZsDWWHGnkSU1CT3nwjrK4ZLE%3D&viewitem=

Can someone explain what's going on with this set?

 

I have to agree with Phil. I buy the sets because I like them and to keep my sets up to date. I don't expect them to increase in value. Well at least not in my lifetime I guess you have to decide if you want to be more of an investor or a collection. Not that they're both mutually exclusive but most collectors don't get into the hobby to make money; they just collect it

 

The quality is down, that is one of the reasons I have considered quitting my purchases.

 

Bidiot?

 

Agreed, but it had to be TWO of them!

 

Well, you know what they say....."takes two to tango".....

 

The quality is way down. The 2010 sets I bought were probably someone's returns that the mint shipped right out to me. I returned the whole $98 box of stuff due to dirt, dust, flecks, fly crap, hair and cardboard scraps on the coins. Now I just won't buy any more.

 

Dang Vic, mine weren't that bad. Then again, I only bought three. One to "bust out", one to "view" and one that remains sealed. Perhaps the sealed set is laced with rat hairs and poor workmanship? Oh dear. I'm afraid to take a peak......

 

I suppose I lack the "discerning eye" that most of you seem to possess...

 

Plain & Simple the winner has lack of knowledged or too much money to spend or waste, Zero Feedback too.