1947 mint set

Hi, my local coin club is auctioning off some coins including a 1947 mint set in f-20 starting at 25 dollars with an estimated value of 50 dollars, I saw in coins the magazine that it is worth like 1300 dollars, and that seems VERRY HIGH to me, do any of you guys think I should go for it or what it's worth, thanks, eps

Ps Also the magazine said around 5,000 were made is that correct?

 

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How can a mint set have f-20 coins? shouldn't they all be MS## ?

 

What do you mean by "F-20"?

 

Well the auction insert says its f-20, but has no pic.

I Gus's it should be vf-20

 

The set is worth the silver value only.

 

DO NOT BID!!! I realize this seems a rather extreme answer, but a genuine US Mint Set from 1947 will contain two examples of each coin produced at each mint. Further, each coin will be mint state and the coins from each mint will be together within a cardboard page. These pages then had a piece of paper glued onto them on one side to allow viewing of the Mint Set from one side while the other side was hidden. For 1947 there were coins produced at three mints (P, D and S) so there will be three cards and a total of 28 mint state coins representing 10 coins each from the P and D mints and 8 coins from the S mint since there were no S-mint half dollars produced that year. Therefore, the silver value alone of this set is approximately $100.

The set that you are looking at without a doubt an aftermarket accumulation of coins that are all circulated and you will find one coin from each denomination. The set has a silver value of approximately $18 and that is all it is worth. Again, this is NOT a 1947 US Mint Set, this is an aftermarket year set that has no relation whatsoever to the $1,300 quoted for a legitimate 1947 US Mint Set.

 

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Ok thanks

 

I would advise you not to bid on it. You need to know the subject matter well enough to form your own grade on the items, and it seems apparent you don't have sufficient knowledge of this set. Never, I repeat NEVER, buy any item sight unseen. If you look at http://www.ebay.com/sch/i.html?_nkw=1947+mint+set you will see that the $25 price may be more than its worth, again, depending on condition.

 

it should have been called a 1947 type set IMO

 

The magazine says $1,325 because a real 1947 US Mint Set, as I described above, [/i] is worth quite a bit of money. However, an aftermarket year set, which is what your coin club is selling, is only worth bullion if they are circulated coins.

 

Ok I will not bid, btw c10ck3r I know not to bid on an item without seeing it, but the meeting is tommorow and the auction is there in person

 

If you look at the last couple of pictures that is a true 47 mint set holder
http://www.ebay.com/itm/28-PC-COMPL...20?pt=Coins_US_Individual&hash=item4abab9c3a0

 

Great answer, Tom B. Things there I didn't know either.

 

We call these Year sets when we sell them in our local auctions. That is all this is, a Year set.