I went to eBay yesterday evening and spent way too much money on silver proof sets. I purchased the 2002 - 2008 silver proof sets :devil: These silver proof sets all include silver proof 50 State Quarters; and I believe that the half dollar and dimes are also silver? Most of the eBay Silver Proof sets that I picked up sold for less than the US Mints original asking price, yet the price of silver has gone way up. :hail: What is the intrinsic (silver) value in these proof sets based on the current spot price of silver? I'm guessing that the silver value of the sets is not much less than the prices paid on some of them. So why are the prices of these silver sets depressed? I realize that I should have asked these questions before bidding, but... Thanks for your assistance.
The information is available in the Red Book of United States Coins: 50c - .36169 25c - .18084 10c - .07234 Chris
Chris, Thank you. I recently ordered the Red Book, but Amazon say that they will not ship it until Monday. 50c - .36169 0.36169 25c - .18084 0.9042 10c - .07234 0.07234 Total Silver 1.33823 Spot price $18.00 Silver value of sets $24.09 ( four sets purchased between $27.01 - $29.00) Why are these proof sets selling at their melt value?
Based on the market price of $18 per oz, each silver proof set with the SQ's would be worth about $24 melt value. Chris
Gotta be careful buying proof sets on ebay. Lots of people will pop them open and cherry pick the high grade coins and leave you the garbage. I bought two on the bay noticed they had been tampered with and resold them explaining the had been cherry picked for minimal loss. I only buy certified coins on ebay now.
Its pretty easy to get sets below the original mint asking price on eBay but i only buy them if i can get them below melt!! I find that its a risk free way to buy silver since the collector value of the sets will always be close to what i paid for them even if silver tanks :devil:
