Question about Mint Sets on eBay

Back when 90% was going for 10x face i bought a bunch from him for below spot with his combined shipping:thumb:

 

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I have to disagree.

You can find sets from 1968 up under retail, but not because dealers are overstocked, they've had them in their inventory long enough and they're clearing them out to at least try and break even, rather than at a loss.

As I stated previously, this seller, whom I've done a lot of business with, had these set runs listed for over $850, and that was before silver spiked considerably. The price he has them at now is a noticeable drop, and that very well could be his lowest price to get a small profit off of them.

Still not a bad price for this type of run.

 

if you are thinking of making money in coins, modern proof or mint sets are not the way to do it.

the mint produces mint and proof sets by the millions, more than enough to satisfy collector demands. the sets my grandfather bought for 9 or 10 bucks in the earlier 90s are worth a third of that 20 years later.

i'm current buying mint sets because i want the s coins in my collection. however, they are a terrible investment.

if you want to invest in coins, junk silver or gold were probably the way to go. with those prices high today, i'd stick to some key dates. my hunch is that if the penny or nickel go away or are substantially altered soon, you might see a nice jump in the 09 vdb penny and the 50 d nickel.

 

If you don't know what you're buying, don't spend $700 on it

 

I'm in complete agreement generally but no agreement specifically.

Don't buy any coins for investment but people have been telling me for 40 years that mint and proof sets are a terrible investment and I've bought them anyway. Now there are world mint and proof sets going up twenty to one hundred fold annually.

The reason is exactly what I've been saying for decades; most moderns are scarce or rare and even more are in choice condition. They made a few thousand of most dates of Indian proof sets and tens of thousands of most world mint sets. But these sets have suffered tremendous attrition because they have been spectacularly cheap. People quit saving new coins decades ago and this happened all over the world. For many dates there are no mint sets at all and in most cases mint set mintages are low and attrition high.

The ONLY reason moderns were and are cheap is that there is so little demand. Now that demand is ratcheting up in the home countries the prices are exploding.

It will come to US coins eventually in all probability.

 

Quite the contrary. You can pick through a dealers stock. When do you get the opportunity to pick through the Mints' stock?

 

Amen.

 

You're able to pick through the stock of an online sale?

Wow, you ARE good

 

I may have misunderstood. I was referring to picking through a dealers's stock at a B & M or coin show.

And don't you roll your eyes at me young man........

 

I was referring to online purchasing.

And I'm not so young, man

 

you tell him BUncirculated you young whipper snapper green18

 

If you want the sets just for the sake of having them I guess its not bad. But if you like specific coins like toning or specific grades I would say it might be better to buy them loose.

 

A Big THANK YOU to everyone who responded. I decided NOT to buy this run of Proof Coins, and am going to check with one of my local coin shops.

I collect for the fun of having them, not for their future value. Although I do realize if I hold on to them, and leave them to my only child, my daughter, she may choose to either keep them for her kid(s) or sell them for profit at a later date.

I visited a local coin shop a couple of months ago when I had pulled out the collection and decided to start doing inventory, and organization. Before, it had only resided as mostly loose coins in a couple of boxes. Turned out, that I have known a guy working there on and off for the past 40 years. We weren't "Pals", but I've known him since High School. It's just about the only coin shop on "my" side of town, the others being several miles further away.

I thought instead of going for this Mint/Proof runs on eBay, that I'd visit the shop and see what they have. I know the owner travels to coin shows, and I can give them the task of finding me some good Mint Sets to add to my collection. I'll see what their prices would be for something like this, and maybe they have Mint Sets already at the shop for me to choose from. Just want to add some luster to my collection.

I'm so glad I joined the group on CoinTalk! I appreciate all the information and opinions you all have given me.

Thank you again,

Robert

 

Is it really necessary to explain every possibility or every tiny detail? Its not that dealers are "overstocked" right? Its because they have more sets than they need and clear them out to break even. So what you are saying is that they are over stocked on movable inventory? Oh, now I understand. Does the reason such sets regularly are sold on the cheap really matter here?

As for the only being about to find 1968 and up for under retail. Sure, this may be true in some places, but not everywhere. I know of many shop dealers who junked their 1960 and later sets when silver was spiking. That equals no premium and below retail. This may not be the case at every shop, but they are out there.

 

Getting old is better than the alternative. Experience and cunning beats enthusiasm and youth Go get them Green!