I found this note that my mother wrote to herself in February 1964. If you could go back to then with $1700 what would you buy?
Well, at current prices https://www.pcgs.com/prices/detail/proof-sets/932/most-active 8 x 53 - $1520 8 x 54 - $800 6 x 55 - $690 20 x 56 - $1300 80 x 57 - $2560 20 x 58 - $700 20 x 59 - $640 20 x 60 - $620 20 x 61 - $520 Assuming your mom bought those sets and didn't touch them, they'd be worth $9350 today. That might sound like a lot But wait. If your mom had simply invested that money in a money market fund which kept up with inflation, that $1700 would be worth now $14,154. The proof sets were literally a worse investment than a money market - the worst investment you could choose. But wait. If your mom had invested just $1000 in Berkshire Hathaway in 1964 when Warren buffet took over the company, it would be worth $16 million today. So.... yeah, your mom made the right choice not to buy those proof sets. What else did she buy, and was that a wiser choice? No idea.
About 15 years ago, a Scotsman auction had separate listings for unopened shipping boxes of 1957, 1958 & 1959 Proof Sets. If I recall correctly, there were 10 or so proof sets in each box. I placed bids of $2500 on three of the listings and got slaughtered. ~ Chris
Those alternatives assume good knowledge. The Proof sets had a history and an assumed future: never would any more be made. She could have put $1700 into very many bad investments looking to get rich by doing nothing. It is true that is better to regret the purchase you did not make than the purchase you did make.
I met Warren Buffet at a block party in Omaha many years ago. Really nice guy. That's all I have to say about that
Yea the Berkshire Hathaway option is pretty depressing to think about. Mom and Dad were kind of dabbling in mail order coin dealing then so I imagine they would have been resold.
If she instead spent that money on family and the kids (you), then she made the right choice. My mom went with the money market an left us kids a tidy sum.
