As 2009 comes to an end, has the relatively high cost coupled with a bad economy made the 2009 Silver Proof Set a good investment? I don't know the current production numbers or what the final numbers will be but if this set does end up with low production numbers, would you consider buying up a couple of sets to sell later? Considering: *The dime, half-dollar and six quarters are struck in 90% silver, generally referred to as “coin silver.” http://catalog.usmint.gov/webapp/wc...ctId=14997&langId=-1&parent_category_rn=10211
According to Elaine1970 on 12/15/09: http://www.cointalk.com/t24699-78/ 2009 silver proof set - 618,248
Personally, I think the term "Investment" should not be confused with "opportunity" with regard to coins. If the mintages stay low on those Silver Proof Sets, the only real winners would be the Roosevelt and Kennedy 90% coins since the quarters have an additional 262,383 mintage. One of the big reasons that the 1999 Silver Proof Set got so high in price is that the individual Silver State Quarter proof sets did not exist in 1999 and many folks were hesitant to pay the $35 for a single proof set. The end result was low orders and eventually high prices. As for 2009? An "opportunity" may exist to turn these over at a profit once the figures are finalized but I think it will be a small window. As an "investment", indicating a long term return, traditionally, US Mint Proof Sets (silver or not) are poor investment tools. There are many proof sets currently available at below original issue prices. Even the "common" silver proof sets sell for just a little over melt.
"low" silver proof mintages In reality, the mintages of the 1999 silver proof set weren't that different from the years that followed: 1999 S 804,565 2000 S 965,421 2001 S 889,697 2002 S 892,229 all years through 2006 were greater than 1,000,000 Looking at just the mintage numbers and what I perceive is the high premium for the 1999 ($350 redbook) and 2001 ($150 redbook) sets, will there be a price correction on these two sets? I can see why the 1999 set has a high price, but why does the 2001 carry a premium? My last question to the group is whether or not I should sell my 1999-2009 silver proof sets to finance my addiction to :bow: half cents?
I agree. These sets certainly have the potential, as mentioned with the 1999 and 2001. I like this set because it includes the 4 different cents, the 4 different dollars, and the six quarters. Getting it now could save the hassle of getting the coins down the road. Should you buy it? Yes. Is it going to be a good investment down the road? Who knows.
The only exception with regard to the 1999 Silver Proofs sets is that a certain quantity were destroyed by the US Mint. The story goes that not all the 1999 nor 2000 Silver Proof Sets were sold, so the US Mint put them in storage. In 2001, they began offering 1999/2000 Silver Proof Set Combo's but when the coins shipped out, they were quickly returned due to severe damage that had occured during their storage. Once folks started complaining about the US Mint selling "off year" proof sets, the program was abandoned and the left over sets destroyed. The 1999 sets didn't really hit their full stride (price wise) until 2004-2006? Now, I don;t know if the 804,565 number are sets recorded as "sold" or the actual mintage numbers but there is always a certain "value" placed on "lowest mintages". The 1996 Silver Eagle is a very good example of that!
That and the fact that the dealers got caught with their pants down and didn't order any of these issues.....:mouth:
I'm still learning, but it seems to me that that's the main story with everything. It's not mintage so much -- rather it's how many get socked away by dealers and others. There are loads of instances where a very low mintage coin sells for less than a not-quite-as-low mintage coin, and the reason is most often: because the dealers anticipated the very low mintage coin would be very low mintage, and, as a consequence, there are a lot of them around.
Actually a high grade 1950D is becoming quite a cool thing to have. http://cgi.ebay.com/PCGS-1950-D-MS6...mQQptZCoins_US_Individual?hash=item1c0e4bde4c
Does anyone know what the current mintage is for the 2009 silver proof set? I havent been able to find any info. I was wondering if it will be another low mintage year.
According to Elaine's latest update on 22 December 2009, it was 628,289. I think that this set will be a net winner as compared to most other years where it was a net loser. I'm also betting on the 2009 clad and mint sets.
I really don't think any modern mint or proof sets are a good investment. I really don't think any modern mint or proof sets are a good investment. This is stuff all dealers always have, don't need and it keeps pilling up years after year forever. There are some minor exceptions but they are far from normal. I have never had another dealer come to me saying "man I need such and such mint or proof sets" - this stuff mom and pops buy and get tired of then sell generally for far less than they paid. If thinking because the dime, quarters and halfs are 90% coin silver just look up the price of the first 1992 Silver set???
Excellent question, and train of thought!! I think selling the '99-'09 Silver Proof sets to fund your addiction to half cents would be a good idea. The NPQ is watering down the whole 'Statehood Quarter' thing (the 'Territories' quarters was a gateway to this), and with prices, in general, being soft, I think this is a great time to put those Silver Proof sets to better use. Sell the Silver Proof sets, put the money into some nice half cents.
I dont think that is such a good idea. In the long run I think these sets will be worth it, just look at proof sets from the 30's, 40's, and even early 50's. In time, I think these proof sets will be worth it. But the mint also plays a roll in it too. If they keep making all this junk, than it may not be worth it. This is not the thread to argue this, but I just want normal circulating coins again.
I think buying a mint, proof, or silver proof set because you want it and like the idea of owning one is a far better gamble than buying one on a hunch that it will appreciate greatly. I never bothered collecting the prestige proof sets because I didn't like them. The mint charged a premium, and sort of hinted they were "the set to order." Now looking back, most have depreciated, and the mint has discontinued them altogether. Investing in those would have been a big gamble, and a losing one at that.
