Free Money!

As a collector of "silver" I find these sets the most affordable mint products when compared to melt. With the smallest premium of any mint product, silver still has to reach 45 and 47 bucks for these sets to break even. I agree there is value if they become key dates but at my age I won't see it. I do have 3 sets of each which will likely go to my daughter.

I will definetly keep one of my 5 sets of 25th anniversary ASEs, but only as a "trophy" representing the profit in selling the other 4.

I want PM as a hedge against fiat money and so I find the smaller premiums for melt coins more attractive. I believe one day, all silver coins will have equal value. For example, if a silver dollar buys a package of freeze dried food. A rare dollar will buy no more if everyone is starving.

Then again, I may be wrong. But, I will NOT be buying any more than the 6 sets I already have!

 

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Perhaps, but short of a massive meteor hitting the earth or the "Rapture", I think there will always be people with the resources and desire to own the finest collectibles. I agree that I'll never see the potential return on any of my collections, but (for me) that's never been the point. My Father left me some very nice coins. I enjoy adding to the collection and passing it along to the next family "Custodian" when the time comes. Among other contributions, I hope to complete the MS70/PF70 First Spouse series...

...just four (4) more years to go!! :hail:

 

The calculations are better for the Silver Quarter Proof Set. There have been several times over the last couple of years where the set sold for close to melt. Given the cheap shipping from the mint, and no 3% premium for credit cards, it's a good way to stock up. They are also very liquid.

 

I see,
The quarter set has a 22% premium. Silver must reach $44 to break even.
Advantage as you say is cheap shipping and no cc charges.
For me, liquidity is most important and US mint silver has to be the best!

I've been buying US junk coins near melt, the proof silver quarters will be a nice diversification. Thank-you

 

Every once in a while, you can pick up 1962/1963 Mint sets (P/D) in their original packaging for right at melt. One set has about 1.23 Oz of pure silver. At $35/Oz, the silver content of an early '60s US Mint set is right at $43. Here's an example of an auction that ends shortly...

http://www.ebay.com/itm/Two-1962-Uncirculated-Mint-Sets-P-D-mints-/250926284645?pt=Coins_US_Individual&hash=item3a6c5f3f65

...and free S&H! If you get lucky, you may even get a nice Type-B Washington quarter! ...and that, my friend, is FREE MONEY!! :hail:

 

I watched the 1962 set go for $54. Little bit over 20% premium. The lurkers on this site must have jumped in. Thank-you for the advice.

 

Yeah...probably. Keep watching...I get nice sets near melt when I'm patient.

 

I know coin collecting is sometimes a gamble. Especially when purchasing new mint products. I have been following this thread for some time now, and Yakpoo makes alot of sense to me. I'm just wondering now if maybe it might be and interesting endeavor to buy the silver dime, quarters and half all graded and slabbed in Proof 69 or 70. Seems like the value may rise over time with it being the lowest minted silver proof set. Probably not a smart move if in the future a silver proof set comes out with even a lower mintage though. However, I kinda like the idea and just might do it. Already have the Proof dime in 70. Cost was $25. Am in a holding mode right now and just wanted to see if any of you guys had any thoughts before I pursued this any further.

 

Another long (8 day) week and Silver Proof set sales dipped a bit from previous week...

Silver Proof set sales as of 16 November, 2011...

2010 Silver Proof Set sales: 438 for a total of 576,754
2011 Silver Proof Set sales: 5,789 for a total of 493,708

The lowest mintage of any modern Silver Proof set was 1995 (679,984). The average weekly sales figures for 2010 sets needed by the end of the year (6 weeks left) to equal that mintage is...

2010 Silver Proof Set: (679,984 – 576,754) / 6 = 17,205

The average weekly sales figures for 2011 sets needed by the end of January 2011 (10 weeks left) to equal that mintage are...

2011 Silver Proof Set: (679,984 – 493,708) / 10 = 18,628

​

 

500,000 coins is still a lot of coins so I would take out a second mortgage on the house.

 

I own both of these sets, so I am all for free money, but how much do you think they will be worth if they become keys (Or one set becomes a key).

The current key set is only going for around $70-80.

 

the title is misleading...

 

Free money has to do with the value of silver (melt) and the value of the coins in relation to being able to sell in the future.

 

A couple comments:

First, when I think of a modern proof coin, the minimum grade I expect is PF69. While I realize some of them grade lower, if I was buying for a collection or "investment", I would only get PF70. In addition, I would monitor auctions to see if NGC or PCGS was preferred.

Second, if you think the value will go up, it is certainly a way to go after the numismatic market.

Third, grading coins is expensive. While you increase what you can get back, you also increase what you are putting into it, making it less likely you will come out ahead.

If I was going that route, I would buy on ebay, looking for the coins nobody else happened to bid on. Looking at completed sales, PCGS PF70 dimes have sold for $15 - 16.

 

yeah, i know. but i thought he might be handing out a bunch of benjamins to people. :devil:

 

You're obsessing over free lately, better to obsess over quality.

 

If you're talking about the 1995 set, people have been picking over those for 16 years looking for the best examples to get graded. The PR70 coins can fetch quite a bit. The original prices were also much lower than today.

 

The negative to this strategy is that you don't have the silver value to fall back on as much because you're paying approximately the same amount as the full raw set when you buy the two key coins (dime and half) at PR70.

Nevertheless that has been my approach as well (buying the dimes and halves graded when I can get them at the right price). I also have some of the quarters sets both raw and graded because I like them.

It seems like NGC has graded a lot of the Kennedy's at PF70 and there's a never ending supply of them from a few dealers on ebay. The PCGS PR70s are scarcer.

 

I meant to say "wouldn't"...btw, what happened to my edit button? :scratch:

 

after it has been 24 hours, you can't edit.

Mizozuman2