Hi! If this is the wrong forum where do i go? Thanks I'd this is ok here, I'm looking into buying proof sets, mostly off Ebay. Anything like special years? What is the point of buying proofs? I was looking today and I can get a proof set for 15 bucks, I assumed they were more expensive. I guess if you're into proofs let me know what you look for and why. I appreciate all of your responses.
The price should be controlled by the year and mintages. If you have a Red Book that should help you. Some proof sets are silver so they will cost more.
Hi Helen, Welcome to the group. If you can afford them I recommend buying 120+ year old proofs, staying away from the modern issues. The older coins are usually more aesthetically pleasing and a much better investment if you ever have to resell. (Just one old guys opinion..so take w/ salt pinch), J.T.
Important consideration as suggested by J.T., that depends on why you want them. For investment its probably better to focus on the older and more expensive sets, or even individual coins. If its because you like them and want to enjoy putting together a modest collection, great idea to buy them in the aftermarket. They are available for even less than $15. Most of the proof sets that I bought from the mint have decreased in value. The ones with silver are likely to hold their own. Make a list of the ones that you want and watch prices, the range can be wide. You are likely to find some deals.
Whenever possible get them in original packaging with paperwork. Nice packaging as well not beat up leftovers. Shop around to get the best deal. Patience is a virtue.
Thanks Jim-P, Good advice. Wish I had heard it when I began collecting U.S. coins 30 years ago. I ended getting really 'good ' deals on modern silver proofs(1998-2007) ultimately spending $2K. (The only proof that barely held it's value was the Leif Ericson) When I finally wised up and sold the lot I received $850! If I'd been smart I'd invested the $2K into 2 really nice seated liberty proofs & would still own them. Easy come.... J.T.
Hi Helen, I assume you are inquiring about modern day proofs. Anything before 1900 will be in the range of $ 1,000.00 or more except barber dimes. US proofs are pretty reasonable on today's market, just be sure they have a certification of authenticity. Dave
If you have a Red Book there is a section in the Proof and Mint Sets that lists the original issue price and current value. Good information to have.
Prices paid for them in the 60s through 80s were a money losing proposition. Forget it unless they are silver.
Coin collecting is like mountain climbing...it's all about what you're trying to achieve. If investment return is your goal, proofs with the fewest examples and the greatest collector base (generally older coins) is the best bet. If you're on a limited budget, but looking for potential "long term" appreciation, silver proof sets between 1992-2005 are my favorites. They are some of the most beautiful coins the Mint has ever produced. I also like the Satin-finished Mint sets issued from 2005-2010. I especially like the 2009 95% copper (bronze) Satin-finished Lincoln Cents. The proofs I most desire are proof Half Cents!
1. Don't buy them from the mint. Usually they will be losers. 2. Buy them in the secondary market from dealers. These sets should be cheap because many of them wholesale for no much more than face value. 3. Buy complete sets. Don't mess around with the quarters only or president coins only sets. 4. Buy them in original mint packages from the 1955 flat pack to the present. Make sure you get all the paperwork, and try for nicely preserved outside packages. 5. Don't buy them as "investments." They aren't.
Buy what you like and besides from contests on here.Most of mine are pre 1971 when at least they contained the %40 silver half dollar i like a little silver.If you have the money buy the earlier ones like from the beginning 1900's and older although rather pricey.I find the proof indians to be the most low cost ones starting around $100-$200 range later in the series.
I agree with all but #5 they are an investment, just not in the buyers lifetime, it is one that will take 100years to appreaciate if they survive that long your great great grandchildren will love you
I agree with johnmilton! I don't buy proof sets, although I do have a few. I don't consider myself an investor but if I was I would put my money elsewhere! Just don't think there is enough demand for proof sets! I also agree that the best proof sets for investing are the older sets. Having said that, I believe you should buy what you like and can afford, even proof sets. That's collecting! Just enjoy it!!!
I just bought a load of proof sets at auction. I paid $120 (that includes buyers premium) for 25 sets from 1968 to 1993 plus 5 sets of States Quarter Proofs (2001-2005) I love proofs too. So I averaged $4 per set. I should be able to keep what I need and sell the rest for a small profit. Be patient and watch for auction lots. If you are buying because you enjoy them and want them for your collection $10-$15 on eBay is reasonable. But compare for the best deal.
John makes an most excellent point here..........collect and not invest. These items are solely for collectability. If you can realize this, you're gonna be fine with anything you buy (collect).
Wow! Thanks you guys! I AM looking to invest. So I'm guessing silver is the way to go. I'll keep an eye on ebay and elsewhere with a discerning eye. I appreciate all your responses!
Rather then new modern proof sets, look into the 1/10 ounce proof gold eagles. Less mintage and gold doesn't go out of style.
The tenth ounce gold eagles are less expensive because of their size, but you will pay a larger premium over melt for them than you will pay for the larger pieces. Also it is probably better to buy the older pieces than the current year’s issues.
I'll tell you this, it's best to go to coin shop and get a good look at what they have and haggle the price on them. A whole lot of modern proof sets are basically bought for the face value of the coins or the melt value of the coins, on Ebay you are going to be paying retail or a bit lower, but not as low as you could go with a dealer that bought them in a lot to get the valuable coins from someone selling a collection, sometimes they have to take the whole thing, and then to sell the weaker items they can do it for a pittance. there's a lot of proof sets that just don't make the cut and have toned poorly or beat up due to neglect. I don't like ebay for the purchase of proof sets because you really don't know if they are giving an accurate picture of what you are buying, and it's usually closer to the retail price than a deal. I like to do it in person, really give it the once over, and then make an offer that's within reason. If you do Ebay you are paying the fees from ebay and the shipping, and this will add to the cost of the sets over a dealer looking to move stale inventory in a coin shop where he's got a decent sense of caring for his inventory. if you are looking to "invest" buy the silver proof sets from 1992 onward but if you are doing this, understand you are basically investing in the silver and a touch of collector value though. The clad proofs are just dogs unless you go way back to before 1955 in which case they aren't clad, they were silver. you can do the 1964 and earlier proof sets really, that had silver as the norm just understand after 1956 the market isn't that hot for, the value isn't really there. but a deal is a deal on silver..... A better "investment" as has been said by others, is saving and buying quality early proof sets from 1939-1942, or the cheaper ones from 1950-1955, or even earlier proof strike individual coins. Since 2019 the silver proof set is 99.9 silver for the dime, quarters and half dollar, there was a time not that long ago when the mint raised prices on the 2020 set, where you could get the 2019 set much cheaper than the 2020. The 2021 set is the real dog, no bonus coin, priced the same as the 2020 set, and 3 less quarters..... I think you can find sellers on ebay for the 2019 silver proof set for $70-$80 with the W cent included, which means you should be able to find brick and mortar dealers in that price range maybe cheaper without the ebay fees... the 2020 Silver set on ebay isn't going to sell for less than $150. same amount of coins, same amount of silver as 2019. The 2019 set is the smart purchase out of the three offerings of 99.9 silver sets so far. So yeah, you really want to be a smart shopper is what I'm getting at no matter what you end up buying, buying and selling anything is a negotiation between two parties. If condition is really important to you, then nothing beats seeing them in hand before purchasing. Good luck!
