Why are individual coins worth more seperated from the proof set they come in? I have the 1972 proof set. Coins magazine says the entire set is worth $5. The magazine also says that the quarter and half dollar are worth $5.50 together. The 2000 proof set is valued at $21 and the individual coins total $47.50. What is going on here?
Same as buying a car by each part versus the whole. To inventory the group costs less than each individual part. Also, not all coins in a proof set may be the same grade. One may be PR69, the other PR67, and so forth. When somebody wants an individual coin, for the most part, they are looking for that coin in a highest grade they can afford (most likely PF68 or PF69). Factor in that proof sets have to be broken out (labor costs) and maybe NOT everybody wants the other denominations (like dimes...no offense to dime collectors, sorry) makes the pieces costs greater than the whole. Once the set is broken...a sellers now has to find multiple buyers for each piece instead of one buyer for all denominations.
That's only true in some areas, in which most collectors don't place a premium value on "original sets". In other areas, where they do, you have situations such as the first ever Japanese Mint Set (1969), which books at $650, while the five coins comprising it book at a total of $6 in Uncirculated condition! Ed's comments are very accurate with regard to U.S. coins, where the Registry frenzy leads to gigantic "value" increases for tiny quality improvements (and the difference between MS68 and MS69 is tiny. (Just one more reason to explore world coinage. )
The WHOLESALE value of the individual coins in proof and mint sets often exceed the WHOLESALE value of the set. This is caused by most collectors' reluctance to break these sets open and by a steady wholesale demand for the coins to assemble the denominational sets like clad Roosevelts and the like. The single coins are usually sold in rolls just as they come from the sets though a low percentage of coins are culls and are excluded and a lower percentage are gems which are also usually excluded. So many of these sets have been destroyed over the years that it's now getting difficult to find quantities of any of them. Also the retail demand for intact sets is increasing because of collectors wanting them in the original packaging and as a cheap source for gems. The mint sets at one time were down under face value and even the proofs got down under 3x face. Most of the sets from that era were destroyed and many of the coins were placed in circulation.
It really depends on the set - the year it was issued. For a great many US Mint & Proof sets the individual coins are indeed worth more than the set. But for some of the sets - this is not true at all. There are certain years where the set in original packaging is worth multiples of what the individual coins are worth.
One other factor that you should consider is how difficult it is to move single coins. Break open any proof set and try to sell each coin individually. Not an easy task at all. Often the sets are broken to obtain one coin. The others sit around while the value goes up, but you can't find the buyer for the coin.
Question: How does one determine the value of lets say the 1953 proof set for example when theres no way of knowing how may were broke up? Greg
Bid price automatically takes in both supply and demand. It is usually possible to make a lot of inferences about both supply and demand from the price when you are familiar with a series. Most of the demand for proofs of 1953 is for the single coins. Even when someone wants them all, they won't necessarily desire an intact original set. There are people who collect this way and it does seem to be growing a lot.
There is always an easy way to determine the value for any coin that is easily, or with a little effort, found. Just check the realized auction prices. Current retail for nice, original '53 Proof sets is about $300 - $350.
I have been collecting proof sets alot lately, mostly buying in bulk form estate sales or of of ebay and the like. I have one set that is only missing 2 years form 1960 to 2006, that is MY set. I have a nother that is about 80% filled from 1968 to current. After those two sets, I still have 18 proof sets of various dates. 1969-72 2 or 3 each, 77, 79-82 1 each, 2 83's and an 84. I know most of these are not worth very much as a SET but how do you suggest selling them for overall profit? Mostly, these duplicated sets are so I can finish filling my 2nd full set and go into the 50's in the MY set. Thanks for any info you have, EDITED--Sorry but no offers to buy/sell/trade lol.
holey resurected thread, Batman! lol. To answer your question, I recommend selling them on eBay since you are familiar with that format. Just list each set as a separate auction and you will do about as well as possible.
