Modern proof set pricing

Hi all,

My potatoy goodness back with another newbie question, this time regarding proof sets.
I am curious as to why modern proof sets, like the current 2015, are sold at such a higher premium than those of yesteryear. I can go pick up sets from the 80's for $5 bucks a piece. Why do new ones command over $30? Is it just because it's the hot new thing?

Thanks!

 

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They will charge what the market will bear.

 

@TaterTot
Blame it on the Mint! From the late 90's until 2008 when the SQ program ended, I had two subscriptions for all of the silver & clad proof sets, mint sets, proof SAE's, clad & proof SQ's plus bags & rolls. There was a new feeding frenzy that drove up prices every year, but after the frenzy died down, the prices dropped. Sure, the latest offerings from the Mint provide different types of manufacture and more coin designs, but eventually, these too will drop in price, and the people who bought them during the feeding frenzy will be the biggest losers. If anyone doubts this, all you need to do is look at the history of the values of mint & proof sets from the 60's to the 90's.

Chris

 

Well sounds like I was on the right path. It's a bummer, though. I thought these might make good yearly holiday gifts for some younger extended family members, but with that kind of premium upcharge and depreciation, it just isn't worth it.

... maybe if I lag behind 10-20 years each year, and do '95 sets this year.

 

Well, there is one alternative, and it is one that I used quite successfully during the run of the SQ's & Sac dollars. I'd pay the premium to buy Mint bags of quarter & dollar business strikes, and search for those that would grade MS68. These certified coins generally sell for $150 or so. That more than makes up for the premium paid for the bags, gives you enough extra cash to buy those mint & proof sets at higher prices and still come out ahead of the game with the rest of the ungraded coins from the bags.

Chris

 

Some of the price increase is because there is a lot more face value to the mint set. President dollars, Native American dollar, ATB quarters.

 

I love tater tots! I love taters. All kinds of taters. From Idaho Spuds to maris pipers!

I'm just a potato guy!

As for your question. Its because the proof sets of the 80's, didn't have one dollar coins much less 5 On dollar coins. P{roof sets of the 80's also only had 1 quarter, not 5 quarters.

From a Face Value aspect, the proof sets of the 80's (minus 73-81) had .91 cents face value with minimal packaging.

Today's Proof Sets have 3 separate lens encompassing $7.16 face value of proof coins. However, they are definitely pricey IMO.

Mashed Taters. Fried taters. Baked taters. Scalloped taters. Roasted taters. Yum!

Ask me?

What was your favorite toy as a kid?

Why, Mr. Potato Head of course!

 

Meh! Traditionally, proof sets have lost value for every year they were produced with the exception of the 1950 - 1964 Silver Sets. However, the prices for sets between 1960 and 1964 is bolstered by the price of silver. 1950-1955 is bolstered by condition rarity and scarcity. (My opinion)

1968 - 70 Proof sets can still be had for close to their issue price.
From 1982 on though, all have lost value with 82 originally selling for $11 and today for 5 or less.

The point I'm trying to make is that, proof sets are mass produced specifically for collectors. Giving them as gifts should serve as an investment seed for future collectors. Not necessarily a financial investment.

Still cheaper than a video game which will go out of style by the next year............

 

Yeah! What Lee just said.........

 

I agree with Lee. The addition of the extra Quarters, Dollars, Nickels in 2004 and 2005, Cents in 2009, and God knows how many other coins in the future have taken the Issue price for these sets from just under $15 to closer to $30 each. Most collectors don't want to pay that kind of money for Proof sets and Mint Sets and so the mintages on these sets has steadily dropped over the past 5 years.

The question is this: Since nobody is buying them and the number of sets available will be small in the future, will this pique the interest of some people and drive them towards these sets knowing that they aren't very common? Or will it finally kill people's interest in them entirely and make them a thing of the past?

Only time will tell.

 

Folks have been heralding the demise of the proof set offerings for years and years. I think they have a shot at being around for a few more (years).

 

I don't think proof sets will go by the wayside, but there has to come a time when certain collectors can no longer afford the Mint offerings. One of the big draws of the SQ program were the kids attracted to the hobby. How many kids will be able to afford these proof sets?

Chris

 

Good point Chris.

 

Lets not forget about the uncirculated sets. Virtually every one since 2007 has cost me money. And if I sell them, they'll cost me even more money!

Kinda like that stupid swimming pool in the backyard! G-r-r-r-r!

 

Newbie here, so just want to see if I followed this...
You would buy the bags/rolls directly from the Mint, which come at a premium. Those are before circulation, yes? So then you check through them all and pick out the shiny ones, using your trained eye, and being able to identify yourself what is likely to grade 68 or better. Then you send them off for certification (at another cost)... so guessing you have a relationship with one of the grading authorities and are already doing business with them for other reasons.
Once it's finally back and certified, you have one single coin that will return $150. Sometimes you may even find more than one per bag. If it's a dollar, you've made a little money. If it is from a quarter bag, you've made a lot of money.

Did I get that right?

 

I'm glad you like potatoes. I like 'em too.

I like your second points here. They're a gift for what they are, and attaching an "investment" mindset to them may not be fair... they depreciate less than the 40 video games my nephew will get and play once. But these could be something he'll appreciate later, and for longer.

So, I guess along that same line, is there other "coinage" or sets or cool things that serve well as gifts for nieces and nephews as they're growing up through K-12?

 

Good question! The way the middleclass has been ravaged is one reason sales of proof sets are down. Will high paying jobs for many/most be available again in the U.S.? I think so.

 

I like uncirculated mint sets for coins that have a chance of being certified high grade.

As for proof sets, some very low mintages these days and proofs will always be
the best example of the coin. I like the silver proof sets.

 

So do you actually have all the coins in the uncirculated set graded?

 

Nah, I don't play the grading game, but, some do and they say they make money at it. I do collect these sets and keep them in ogp.