Why are the 2001 Sackies so much more expensive than the other dates in the series? (a newbie would like to know!) Thanks
This is one of those chicken and egg questions - you could say it cost so much because it's part of the 2001 Proof set, which is rather expensive. Or - you could say the Proof set costs so much because it contains the 2001 Proof Sacky. Either way it cost a lot for a modern Proof set. Bottom line is though - it's all supply and demand. There is lots of demand, and a small supply among those who are willing to sell it - namely dealers.
I'm still confused Is there some historical significance to the 2001 year, low mintages, or some other valid reason, or is it just because of the events of 2001 that people are speculating will give this set more value?
Looking at the mintage figures, the 2001 wasn't that far off its companions. Perhaps the small difference was just enough to kick off some supply and demand imbalance, or maybe there was some sort of "perfect storm" involved? In terms of proof sets, the 2001 pales in comparison to the 1999! Being that was the first year for the State Quarters, I can understand some price appreciation there.
Mintages of Proof Sacs 2000 4 million 2001 3.1 million 2002 3.2 million (The figures shown in the Redbook only include the proofs in the clad sets and not the 8 to 9 hundred thousand coins in the silver proof sets.) I see no reason for the 2001 proof sac to be all that expensive. The mintage of the 2001 proof sets aren't that much lower either. But they ARE the lowest with a Sac dollar. So right now they are highly promoted. If in the future some set comes in with a lower mintage I would expect to se ITS price rise and the 2001 settle down close to the others. And although the 2001-S gets all the press, the lowest mintage coins are the 2004 P & D at 2.6 million.
I am hoping for a "correction" in the 2001-S before I fill that last slot in the Dansco album; but then, most people who don't have one yet would be wishing that way... whereas people who do own them would feel differently
I will tell you what: it is WHO ended up with those coins. I promise you that most of those coins are sitting in boxes owned by people who have no idea of their worth and there they will stay. The scarcity is due to the fact that there are not many ON the market (they are in a drawer in Iowa or Alabama or somewhere, as a forgotten birthday present).
Danr is pretty much right in my opinion - and there's a reason for it. Before the SQs came out in '99, most coin dealers would only buy a few mint sets or Proof sets. They just couldn't sell them because nobody wanted them. And in '99 they didn't buy very many. Few collctors bought them either. But by the time 2000 rolled around, the popularity of the SQs was growing like crazy and dealers all over were going nuts trying to find '99 Proof sets and mint sets and the prices jumped. And the dealers stocked up heavily on the 2000 sets. By the time 2001 came, the dealers were still sitting on all those 2000 sets they bought. The public had discovered the US Mint's web site and that's where most folks bought their sets. The dealers weren't selling the 2000 sets so they didn't buy the '01 sets either. But the public did - they bought 'em like crazy. And that's where they all went - into a closet, in a drawer or in someone's collection. By 2002, the price for the '01 sets was climbing because the dealers didn't have any in stock - they were all in the hands of the public. So the prices for the '01 sets started climbing. They haven't stopped yet.
I thought I had heard that the mint had found that the 2001 sets they had in storage started to Haze up so they destroyed what they had in there stock which brought the mintage figures Way down Heard this some years ago but could be wrong Paul
Kind of - as usually happens by the time the deadline for selling mint sets & Proof sets arrived the mint still had some sets left over. But rather than melt them as usual they decided to try and sell them. But the sets that they sold in the second offering had haze and spots and collectors complained. So they stopped selling the sets. This did not however affect the final mintage numbers as those sets sold in the second offering are included.
Ok here is the practical use for this info: buy 2 clad 2 silver pr sets and 2 mint sets every year. They really have not been going down much below the purchase price and sometimes you hit a jackpot like 2001, 1999, and I think there is another year that went up pretty good. Further when 2009 hits every parent in America will want an SSDP complete set (quarters) for their kid and demand will go crazy.
Maybe - or demand might disappear entirely and you won't be able to give the things away. It's happened before.
I think there will be a huge number of complete sets of state quarters flooding the market as soon as the Hawaii quarter is available. And probably before... Back on topic, I wonder what will happen if, as has been reported, the Sac dollar goes away? Will there be a scramble to finish the set (much more in reach than many other sets) or will there be a collective yawn followed by a "correction"? Where's my crystal ball? Oh, rats, I forgot it's cracked
