Warned you...here is another probably dumb question

I was looking in Redbook 2018 and had the 2003s 5 piece proof quarter set. It was valued at $3 but if you look at the individual quarter section each of the proof 2003s state quarters are valued at $3. So I would think that 5 quarters valued at $3 in a set would make the set worth $15. Am new at this so am puzzled.

 

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The Redbook is great for coin info, but not as a price guide. If you want close to accurate pricing for your set try looking up sold listing for it on eBay or other auction sites.

Here are the sold listings on eBay for the copper nickel proofs. Obviously the silver proof set will sell for more.
https://www.ebay.com/sch/State-Quarters-1999-2008/41093/i.html?LH_Complete=1&LH_Sold=1&_from=R40&_nkw=5 piece Proof quarter set 2003&_pgn=2&_skc=50&rt=nc

 

Regardless of the accuracy of those prices that actually did show a good lesson in the fact that often times individual coins can be worth more than a set as a whole. I realize the red book wasn't trying to show that lesson but they inadvertently did

 

Just an idea... perhaps because in saying each individual coin -- in MS65 --- is valued at 3$, their value of the set at 3.00 might indicate the quality of the sets may not uniformly contain coins that will reliably grade at a MS65.

If you break up a set and get five coins that grade at MS63 and MS64, enough of these coins in these grades may never reach even 1.00 in value. Go to a show and usually you can find "BU" washington quarters (and ones you might be hard pressed to get a MS64 in even if they have lots of luster and are uncirculated) for .75 cents each in 2 x 2s. Five coins you might get .75 each at is only 3.50, and that is close to the set value at 3.00 ---

So the sets generally probably have coins of about a MS64 quality and that is too common now to have a larger value, coin by coin.

note... I am more talking about non-proof coinage here^^, but perhaps the PF rating of these coins in sets is less than top dollar PF grades???


or maybe the set is devalued based on the coins not being offered individually, so it can't be compared to one offered individually, sort of like comparing apples to oranges.

 

I had some late 1950s proof sets where the Franklin 50c was easily worth more than the set. I just couldnt break them open. My buddy made $$$ by breaking out 1979 SBA $1 filled S coins from sets. I just cant break up US mint sets, it bothers me.

 

The filled S is not the good one. The filled S is Type 1, the blob S.
The Type 2 is the rare one. The clear S. High retail shows filled S proof $7
and clear S proof $50.
https://www.thespruce.com/susan-b-anthony-dollars-key-varieties-768243

 

ah thx. my bud was the anthony nut. I like colonial. Clear S $50? it used to be 100ish when he found a few sets.

 

Another thought...maybe $3 is a price used as a minimum retail amount for dealers. Below that amount, it doesn't make sense to do a transaction. So one quarter is listed as $3, and also the entire set is listed at the $3 price?

 

My US proof set from 1988 was $8. Recently looked up the value, $8.
Before my brick and mortar LCS closed, he offered me $5 which was fair. I said no.
Looking up the value of each individual coin, puts the set in the $20+ range.
But as a set it's still $8. So I understand the question from the OP.
I asked this same question a while back and was given a good answer, of course
I don't remember what it was or when. But it was logical.

 

I think of the Red Book prices as "full retail". When you look at it that way, it's not surprising that individual coins in a set add up to more than the set's price.

Think of the price of a new car, then think of what it would cost to buy each part of the car individually from the dealership's parts department. The assembled car should cost more, because it's assembled, with all of the labor and QC that entails, but it sure doesn't.

Buying, stocking, displaying and selling individual parts of a whole is a lot more work, and that's reflected in the price.

 

It doesn't work like that.

If you notice , for example that a late-date modern cent in valued at 50¢, that doesn't mean a roll will be valued at $25.00.

The Redbook has pric3es reflecting what one could expect to pay for a coin in the retail market.

 

NO I was talking Proof sets. Understand about MS. What you said about individual versus sets makes sense to me. I guess a lot depends on what people want to collect. Had a friend who collected PURPLE SOCKS and you could not have paid me 100$ to put a pair of them on.

 

Well, I think I have decided that any set I own that has less value as a set will be broken up, especially if I can see it has at least one quality coin of value. Must be either nostalgia type feelings stopping people from doing this or some inherent hangup people have about being loath to break up a set.

 

Coins (not gold or silver- which always have value) will sell for whatever someone will pay. Not necessarily what a book says. Guns sell for 2-20x what their list price is when the threat of government bans or gun control might be instituted and are on discounted- very competitive prices at other times. Bottled water is 50$ a case after a hurricane (criminal) or earthquake- and 2.49 on sale at other times. Its all relative- based on what someone will pay at the time you wish to sell it. The books are good for determining if one coin is worth more than another- the best place to determine actual PRICE is to refer to recent stacks, heritage and ebay auctions- where coins were actually SOLD- not just listed for sale.

 

So if some one does a drive by coining and the government bans coins only us criminals will have coins???

 

Buy a new car, then buy separately all of the parts that go into a new car and tell me which one costs more.

 

Unless you Johnny cash and get it one piece at a time.

 

On Bloomberg this past week some BitCoin expert was correlating BitCoin to Gold.
Stating that Gold has only an intrinsic value but has no value whatsoever. Whereas BitCoin actually did have a value. I didn't pay too much attention but I thought the narrative was a bit biased.

 

I'd love to see a transcript. I like logic, and I like figuring out why things are broken, and that must have been some spectacularly broken logic.