Hello, found this interesting Coin Talk site while I was googling around trying to find out how much a 1992 Columbus Quincentenary 3-coin proof set is worth. I couldn't find any recent prices, although it looks like the gold $5 piece that is in the set was fairly low mintage. Can anybody help a newbie out from a recent price list? Also, how much of a haircut is reasonable from a coin's "stated value" when one walks into a coin shop to sell a coin or set? Is there a standard percentage? Sorry for the dumb questions.
Grey Sheet for these is (Bid/Ask): 1992 Columbus Silver Dollar - BU $21/$23 - Proof $23.75/$25.75 1992 W Columbus $5 - BU $280/$300 - Proof $229/$250 These are dealer-to-dealer wholesale prices. Do not expect a dealer to pay you these prices. The amount of a "haircut" you will receive is based on many factors, e.g., how quickly he can sell the coins, if he already has a supply of these coins, etc.
Thanks, Hobo, that's very helpful. Follow-up - on the $5, the BU is a more expensive coin than a proof? Is it common that a brilliant uncirculated coin would be worth more than a proof coin? (again, apologize for all dumb questions - my coin collecting habit over the years was just buy something whenever the mint sent a flyer - I wish I had become a an actual collector - I guess it is never too late.)
Typically the purchase price of a Proof coin from the Mint is slightly higher than the Uncirculated version because production costs are higher. But usually more Proofs are sold than Uncirculated coins. The greater supply of Proof coins drives down their price. (That's why I usually opt for the Uncirculated version.) Oh, and that is not a dumb question.
I think this an excellent explanation. It's people like me who buy the proof over the uncirculated version (when I can only afford one) that causes this to happen. I prefer the proof because I think it's prettier.
