I have been able to buy over 20 U.S silver proof sets from 2000-2007 still in the mint hard plastic at -10% to +10% of spot price counting the none silver coins at face and wanted to know how to "charry pick" coins that are likely proof 70 vs ones to sell for the silver content if the melt value go's up?
Is it your intent to keep those that grade PF70, or will you be trying to sell them? Even if you could tell the difference between PF69 & PF70, I don't think it is going to be very profitable submitting them for grading to sell. For most of these coins in PF70, the "window of opportunity" for selling them at a good profit has long since passed. Most of the Registry collectors have already filled their slots, and the rest of the market through eBay has gotten very soft on these issues. Chris
Luke: Welcome to CT! Distinguishing between a 69 and a 70 is very hard (at least for me). Check out the ANA guidelines: http://www.money.org/Content/Naviga...dofMoney/GettingStarted/anaofficalgrading.htm The 70 coin really needs to be perfect. TC
Hi Luke, Welcome I am not sure where you bought the sets, but it is quite likely that someone has already visually determined that there weren't any coins in the sets that would be worth a premium. If you bought it from a neighbor or relative or someone like that it is possible that they haven't really been evaluated, but if they are from coin shops, coin shows, or ebay I would be quite surprised.
If you really want the best service, look for a coin dealer who submits to PCGS, join NGC (ANA membership will also allow you to submit to NGC) or ANACS, to me ICG is OK also.
The year before last i was into buying silver on Ebay and noticed that i could get silver proof sets for the same price as "junk Silver" if i was patient and bought 38 proof sets from different people and im sure some have been cherry picked but with that meny sets im sure some would have slipped through the cracks?
It's easy enough to distinguish between PF69 & PF70, but it is a little harder to determine whether or not they will grade UCAM (NGC) or DCAM (PCGS). A lot may depend on how the previous owners stored the sets prior to your acquisition. What I don't understand is why you purchased them with the intent of having them graded when you don't know how to distinguish a PF69UCAM from a PF70UCAM in the first place. Assuming that they were stored properly, it is safe to say that the great majority will probably grade 69 or 70. As a rule, it is safer to submit the entire set in the OGP for grading, rather than removing the coins from the case and risk damaging them. The problem is that it will cost you about $4900 once you've added shipping and insurance, and I just don't think you can justify the expense. It is very likely that you will lose money trying to sell off the 69's. Chris
I bought them for the silver content, the fact that they are silver proof sets was just a after thought since i already had one copy of each set in my main coin collection.
Since you only bought them for the silver content, then I wouldn't bother having any of them graded. Why not just leave them in the OGP? By the way, if you have any of the 2005 Silver Proof Sets, please look to see if you have one of the Kansas quarters with the die gouge on the hindquarter of the bison. There are only 12 of these known to exist, and I'm always curious to know if any others sneaked by the Mint QC. Thanks! Chris
