Lower Market Value of 1999 Proof Sets

I am new to this website and find it very informative. I was trying to find information on the decreasing value of 1999 clad and silver proof sets. It seems like they've been losing value over the past year. At a coin show about a month ago, a coin dealer suggested that the prices of these proof sets was declining as well as other proof sets because HSN and others weren't buying them up as fast as they were a while ago. Does anyone have any comment on the value of proof sets?

ps. I hope it isn't true since I'm sitting on a plethora of them!

 

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I hope it is true because I need a 99 silver quarters set for my collection and I'm not willing to pay the outrageous prices they've been. They're either going to come down or I'll never own one.

A 5 silver quarter set is not worth the equivalent of a gold half eagle. To me anyway. I don't need to finish the set that bad. I'll buy the 01 set for 80 bucks but that's as far as I will go for these.

If I had a bunch of them, like you say you do, I'd start dumping them. That's just my opinion. I don't believe they will sustain the level that they've been at. I'd take the profits and run while you can. Save a couple just in case I'm wrong.

 

I haven't noticed a dramatic drop in prices, although I have noticed a small fluxuation up and down which I suspect is normal. If HSN and others are buying up all available supplies, this would be a good thing. It is about supply and demand and if the overall market supply drops because a few groups are buying them up, it would only make sense that they would increase in value. When a few groups control the supply, they also control the prices as well. Just hold on to them, you will be fine. And please sell Vess one that poor fella.hya:

 

LOL...Guess I bought too high.

 

Phil, I bought the 2006 ASE Anneversary set for something like $600 and now worth in the $200-300 range or so. You win/lose some. I think the 1999 Silver sets will do fine as the state quarters are one of the most popular series and most new collectors seem attracted to coins by these- just my opinion

 

the 99 proof sets (the silver in particular) have dropped sharply over the past year for exactly the reason mentioned to the OP by that dealer. HSN doesn't need them anymore, so dealers don't want them, so they trade for less money in the marketplace.

The silver sets used to be unobtainable for un der $400 and now you should be able to buy a set for around $300.

edited to add: I expect them to continue to fall over the next few years.

 

Mine will go bye bye then. If the price is going to continue to drop.

 

I have a feeling that as the next year moves through, many collectors will be adjusting their holdings. IF they had bought with investment in mind.....heck, thinking about it, many may be selling coins they have always said they would never sell. I have the gut feeling that the bargains will sell, and the high grade or rarities will sell, but it will be tough selling AU walkers or similar middle collector coins except as bullion.

The local coin store had a person bring in a milk carton filled with mint sets, all the way back to early 60s. How many 1964 mint sets can you put into inventory. The guy was told to go ebay. No profit in them he said. I don't collect them so I have no interest.

Jim

 

You just gotta buy those as junk silver at 6.5-7 times face. unfortunately that is all the market there is for them. It feels weird cutting up mint sets and dumping the coins into bags of junk silver though.

 

understand that what I said is my opinion based upon my experience, but it is by no means set in stone. That said I have sold mine, except for the one set that I am keeping for my set so I definately put my money where my mouth is on this one.

 

Almost sacrilegious....

 

Pardon my ignorance but are you people saying that proof and mint sets will eventually go for less than what the mint originally sold them? Or are you saying the profit margin is drastically getting less?

 

will that 2008 ASe witht he wrong u drop in prices as well :eat:

 

I've always been of the impression that those who collect F/VF/XF sets are "collectors". When you consider your remark above and also how we've read so many times how dealers and others will under-grade what you have (even if it's in a slab), I feel sorry for anyone trying to sell mid to higher grade circulated coins in the next few months.

If you're a collector (looking for F/VF/XF/AU late 19th/20th century) and have a nice secure financial situation, the next patch of time should provide unusual opportunities.

 

They have dropped some lately Spock but still a pricy coin

 

I think nearly all modern issues are going to take a major hit in value in the near future, and I believe have already started to do so.

 

the only set i need is the 1999, and i'm willing to wait 3 years for it to drop to the value of the 2000.

-Steve

 

It's common for proof and mint sets to sell for less than the mint issued them. I saw a show on tv that was trying to sell a proof set from the 70s for about 50% less than mint issue price. Just check out the back of a Red Book some time.

I think the profit margin will be drastically less because as what someone else said, the state quarters are hot.......right now.

You would have to be under the impression that they will be hotter in the future once people are used to them and there's no longer any publicity or focus on them, for them to increase in value from what they are now.

Either the 99 set is way over priced or the 2000 set is way under priced. It costs me nothing to wait and see.

The 2000 silver set had only 160,856 more sets issued than the 99, yet can still be had for nearly issue price. While the 99 quarter set alone is going for 10x issue price of the entire 99 set. How can there be this much discrepancy?

Maybe investors bought up huge amounts of the first year issued and are sitting on them hoping to get rich? Well, as far as I'm concerned, they can sit on them until they come down to around a hundred bucks. Which is still probably too high. If a 200% profit isn't enough they can sit on them the rest of their lives for all I care.

I guess I should apologize for not being in the hobby in 1999 and buying mine as a collector, at a sane price.

 

Based on mintages, the 1999 silver set is in the middle for the state quarter years. It had a mintage of just over 804,000 sets. It's red book value is $400. By comparison the 2000 silver set had a mintage of just over 965,000 and is valued at just $35. Most of the other years fall in line. To me the 1999 set is way overvalued and has to crash. The television coin shows are doing their best to keep the hype going but it can't last. Look at 1973-S Eisenhower silver proofs for example. They once were worth $125 (in 1970's money) and can now be had for a small fraction of that. The hype will go away. I just don't think they're rare. For the same money you can buy a 1952 set with a mintage of just 81,000! that to me has more upward potential. i need a 1999 silver set but will buy one when it's $50 in a few years after the state quarters are old news.

 

Boy, I got a lot of interest with this posting. I thought I bought the 1999 silver proof set for a great price of $272 at an auction. I'm now beginning to wonder. I also bought five 1999 clad proof sets for $50 each. I thought that was pretty good too but it will also probably dive down in price over the next few years. I've got hundreds of proof sets from the sixties, seventies, and eighties. I've been at a few auctions where I've bought the sets for less than the value of the coins while at other auctions they go higher than red book by even double or triple. I'm amazed at the ignorance out there. Anyway, thanks to everyone for the great comments.