Who's buying proof sets?

Gathering dust.

2012 had a low sales figure and they cut off the sales early, prices jumped. In 2013 everyone jumped on the bandwagon and mintage was high. In 1999 the mint place tight sales restrictions on sets and they were hard to come by. The prices went way high. In 2000 there were no restrictions, everybody bought a lot of sets hoping to profit on high prices like in 1999. the market was glutted and the price tanked. This turned everybody off and they stayed away form proof sets in 2001. The result was a low mintage and the price skyrocketed.

Other things to consider. Most collectors collect moderns, so they buy proof sets. Many of them buy more than one set, either to keep one and break up the other for their different series sets, of they buy multiple sets hoping to keep one and sell the others for enough that their one set will be free. The net result of this is that there are usually more sets available than demand for them and after a few years the prices drop below issue price. When that happens a lot of people just let them sit rather than sell them for a loss, and they gather dust.

And some things just don't make any sense. The 1995 proof set for some reason skyrocketed and for several years sold for over $100 a set, reaching a high of $150. Today it's an $8 set (issue price was $12.50) and a giveaway item at my local coin club

 

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If HSN wasn't buying them to put together an $1,199 library of proof sets (one of their favorite scams) the things might be so cheap that sellers would pay you to take them.

 

Nope, Rule #1 ...never to buy any coins that was made yesterday.

 

Do yourself a favor if you want these and buy them on the aftermarket. They will likely be cheaper, but more importantly you can pick a set you will be happy with and not have to hope you don't get a spotted one from the mint.

That's not true. Some coins made yesterday do very well even though a lot don't. Regardless of financial gain there is no rule people shouldn't collect moderns.

 

I don't know why, but a lot of collectors seem to have an irrational disgust for modern coins. Well, maybe they're just very vocal. If they were a majority, there wouldn't be such a large base for moderns, and coin shops that deal almost exclusively in them.

Whether i't classic coins, moderns, or ones with little R2-D2s on them, it what they mean to you that matters.

 

Those are really low numbers compared to the millions and millions that used to be sold. Many sets are gifts. Many are broken up to feed the date and mint collectors.

 

been buying them all my life lost some money on most as they are cheaper now on the open market than what I paid the mint excluding the silver sets the only one I can make on would be the 1996 as it had the w dime which I got 10 sets.

 

I buy only the Silver Proof sets and only the Silver Commeratives that appeal to me. What I wonder about is how many sets are left intact in their original US Mint packaging because I see so many rolls of proof coins including silver dimes and Quarters advertised for sale in various magazines. Also in the Kennedy complete P/D/S/S sets.

 

I have 331 proof and mint sets. I love them.

 

I have a suit case full and I stopped buying them after 2008. Now I buy one Silver Proof Set each year and that's all.

 

They really do, but I do think that some of it is just a very vocal group against them. A lot of people will at least dabble in moderns and just do so quietly since anytime any modern is posted some people will ridicule it

Then again I still have a bit of a hard time grasping how things that are now 50 years old or close to it are supposedly modern

 

Since were talking about annual sets; proof, uncirculated mint and silver sets - I can see where collectors feel 50 years fits the definition of modern coinage. Look at the age of the obverse sides of our everyday coins. Except for the reverse of the 1 cent piece, the Westward Journey nickel set and the 1976 sets, nothing ever changes but the date. The ages of the modern obverse read: 107 yrs for 1 cent, 78 yrs for the nickel, 70 yrs for the dime, 84 yrs for the quarter and 52 years for the Kennedy Half Dollar. Not a very exciting trend for modern coin collecting. This is one of the reasons I cut back buying sets, along with laser made dies that can't reproduce the detail engraving had.

 

I disagree.

The 5 and 25 cent obverses are almost completely different, except for the person represented. The 5 cent obv changed in 2006 and the 25 cent obv in 1999.

But I agree that people do have a fair amount of disdain for our moderns, but only the dime and half are completely unchanged for an extended period.

As for proof sets, the silver proof sets are my go to birthday/xmas list suggestions for family. I typically don't buy them myself, but am happy to accept one as a gift.

I'd actually like to see a complete up ending of the denoms. to get rid of the 1 & 5 cent coins, start actually using the 1 dollar coin, create and use a 2 and 5 dollar coin and finally resize and use the 10, 25 and 50 cent coins to be more useful.

Also, get rid of the 1, 2 and 5 dollar bills.

 

I'll chalk that up to old age. :>) I guess I was so impressed by the state and parks quarter programs, I totally forgot about them. The state quarters did bring some interest back to collecting as far as new YN's are concerned. However, the interest seems to have subsided somewhat. As far as the nickel goes, in 2009 they went back and put the same design of Monticello on the reverse which they had in previous years. Not a very creative move on the mint's part. Makes you wonder if we will see the Washington quarter reappear when the parks program is over.

 

I believe the 1932-1998 design for the Washington quarter is supposed to return after 2021 unless we have another 56 national parks, monuments, sites, etc. Another of our members is welcome to correct this statement.

 

Per the legislation that authorized the ATB quarters, when the series ends (2021 if they just do one round, 2032 if they do a second round) the obv is to return to the Flanagan design used in 1932 and the reverse is to be a rendering of Washington crossing the Delaware.