Does anybody else find that certain proof sets can be worth more as ind. graded coins? Im talking about the 1979 type 1 set for example. I bought this set for like $11.00 then sent each coin in to PCGS for grading and each received a PR69DCAM grade. It cost me like $105.00 to purchase the set then get them graded and returned to me. Checking the PCGS price guide online I found that when totalled up the set's worth $280.00! So my $11.00 set has made me after grading expenses and purchase roughly $175.00!
The best bet on those slabs now is to look up completed ebay auctions on each coin, and also keep an eye on the Heritage site, it is worth the free registration ( time ) just to be able to browse and compare prices. PCGS tends to overinflate their " values" in order to appear worth the price of the slab and to of course, be better than the other guys.
Yeah I agree on that! But from what I got buy checking ebay etc...even low ball I'll still see like $100 profit by getting them slabbed so I think I did ok there and with that $100 I think I'm gonna get a couple more of those low priced sets and see how I do!
Well now lets get down to this "how much I made".... Have you sold the sold the coins yet? If not then you haven't made one cent. I know a few years ago I bought an 1926-S Buff Nickel. It was graded F12 by PCI and I sent it back to NGC. It came back graded VF20. At that time the going prices for such was like this: F12 = $115 (I paid alittle more--around $125 IIRC), and VF20 = $425. I held onto the coin for a few years and then when I saw the price was droping and seemed to be sitting at around $380 I sent it to DLRC for an offer. They guy called and offered $240 and I took it. I had also sent in some other coins and if you total up how much I had in each coin and how much I sold them all for you would see that I just pulled even. Now when looking at the above story it seems that DLRC got a good deal on that coin....but do you know that it took them aloooonnngg time to sell it. I watched their auctions and it was almost a year if not a year before they sold it, and when it sold, it sold for less than $240. You were also lucky on getting PF69DCAM. It has been said that the normal set might grade PF66-PF68. If you don't know how to grade really good then I wouldn't suggest this type of gamble on coins. Speedy
You were lucky. Most modern sets are worth more busted up than intact but you can't send in random sets for grading and have much chance of profit. Most of the big companies which do this have machinery to bust up the sets. They hand separate the culls and put them into circulation and they creme out the best 1% or 2% to send in for grading. What's left goes into rolls and is actually sold at a profit even at wholesale. Some of these companies have the facilities to retail the run of the mill coins but most are more likely to sell them at ask to the TV shows or promoters. Most of the creme that comes back from the grading companies is not extremely valuable but it is all profit. Almost all the premium coins are being preselected by the submitters.
I agree with Cladking and might add six of one half a dozen of the other. PCGS guides are inflated big time for high grade proofs. I bought a bunch of PCGS69DCam coins for $11 each. Most list at $25 or higher. $14 on each coin right? Nope, what I've sold has gotten me about $14. Put in auction fees and I make a buck or two. I have also broken sets and sold as raw individually. Gets me about the same as the set intact but requires more effort.
Sorry, but that's not even close to being accurate. This set can be purchased in PF69 plastic for less than the standard grading fees. I'd guess you can find this set for $50-$60 already graded. The PCGS Price Guide is a joke. It is made up of PCGS dealer prices that they WISH they could get. In order to make money on modern proofs, you need to get a PF70 and you need to be able to understand and work the system. I submit a LOT of coins to the grading services and can assure you that even with a lower cost to buy the proof sets and a greatly reduced dealer grading fees, the PF69s are still money losers.
I have been sending in some of the older silver sets from the early 60's but not with the intent of selling. So far I have all the 1964 with the Kennedy with accented hair but were only Proof 67, 68 and 69 on the nickle. They look much better slabbed than in the US Mint package. I have most of the 1960 except for the cent that came back Proof 67's. When my son inherits the collection when I die and he holds on the them for 25-30 years I think that he will make out okay.
