modern proof coins

Discussion in 'Coin Chat' started by Dimedude2, Aug 20, 2017.

  1. Dimedude2

    Dimedude2 Member

    A simple lesson I have learned in the past few years is if you want to purchase modern proof coins, the best plan of attack is to wait a few years after they are released as they will likely drop.

    I am collecting state quarter silver proof sets for my daughters where they will have all sets when they graduate from high school or college. The 1999 silver proof set went up to $350 or $400 in 2005, last week I bought 2 of them at $62 a Piece.

    The baseball HOF has tanked to under $50 (I saw one in a PCGS holder). The gold mercury dimes are now dropping in price.

    If you are collecting these, I would wait awhile before purchasing.
     
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  3. Kentucky

    Kentucky Supporter! Supporter

    Yeah, and I once had the delusion that buying from the government would be a sure way to make a profit...
     
  4. u812?

    u812? Better-Known Member

    Good advice, dimedude2.
     
  5. Johndoe2000$

    Johndoe2000$ Well-Known Member

  6. Paddy54

    Paddy54 Well-Known Member

    I highly agree 100%, it's amazing how certain items tank within months of being issued.
     
  7. Beefer518

    Beefer518 Well-Known Member

    Some folks will pay to be the 'first kid on the block' with one of something. Me? Not so much. First strike? Meh. First day of issue? Umm, no thanks.
     
  8. baseball21

    baseball21 Well-Known Member

    I generally agree with the US mint but there are exceptions, the baseball Gold is still pretty strong as are some of the special ASE sets. I guess you could argue the RP ASEs aren't the same as a proof coin which would be a fair point
     
  9. Brian Calvert

    Brian Calvert Active Member

    Waiting for the 2015 High Relief to drop... Driving me crazy, I check every few months. Just don't want to pay NORTH of 2K for an MS-70. Also was hoping a PL would drop below 5K. Maybe a few more years...

    Can someone put up the site link that shows Classifications of EACH. Can't find it in my favorites. It showed the amount of each coin (like the 2015 high relief) As per amount of Gold labels, PCGS first strike, signed copies, etc...

    For those that are investors - I suggest looking into Ethereum. I know, it is not a coin, not even a BITCOIN... hehe... The Ethereum is backed by the big banks, Microsoft had created a platform for it use (coco)... I understand it is a FAR off topic from coins, just think there is many a great person here and think they are a wonderful investment far off in the future. If you have 300 bucks... Or, get a coinbase account and buy a PIECE of one.

    They will for a fact be LEGIT, legal way to move money and in the future. I actually consider it like buying shares of Amazon in 1998. I didn't !!!!! At the time, I had a friend that worked there and he insisted I buy 100 shares. Nope, no way am I spending 2000.00 on an internet stock that just split. It split two more time, which would leave me right now with 600 shares ! @ 958.00 a share... :banghead:

    Patience was not my strong suit, coin collectors are loaded with it.
    Hard to see into the future, we all know that. Like with Bitcoin, still a risk because of the platform and infighting... At some point, it or they may all revert to "what is steady" what has support, JP morgan, microsoft and many other corps are behind Ethereum, as written.
     
  10. Cheech9712

    Cheech9712 Every thing is a guess

    Thanks dd
     
  11. Kentucky

    Kentucky Supporter! Supporter

    Reading here on CT, I noticed the lowest mintage of modern commems was the 2016 Park Service half. I actually went and bought one to see if they will go up.
     
  12. baseball21

    baseball21 Well-Known Member

    The PCGS population reports for theirs
     
  13. Santinidollar

    Santinidollar Supporter! Supporter

    The much-ballyhooed 2017 S American Silver Eagle proofs have come down somewhat but eBay still shows a generous supply of them.
     
  14. Dimedude2

    Dimedude2 Member

    Are coins labeled as "First Strikes" a scam?
     
  15. Santinidollar

    Santinidollar Supporter! Supporter

    My answer to that: Absolutely, positively if you pay more for the coin than you would with a regular label. I suspect I might get some argument, though.
     
  16. baseball21

    baseball21 Well-Known Member

    Scam certainly not. People can argue whether or not they want to pay the extra as the market has shown they are worth more, but to be a scam they would have to not follow their own qualifications for it
     
  17. Santinidollar

    Santinidollar Supporter! Supporter

    Scam was a poor word for it. Put it this way: I don't think it's worth extra money.
     
    Kentucky, onecenter and green18 like this.
  18. baseball21

    baseball21 Well-Known Member

    That's certainly fair enough. Everyone has to make that decision on their own
     
  19. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Amen Brother.........:)
     
  20. GerardV

    GerardV Well-Known Member

    Someone with a lot more experience in the coin world told me it's the perfect example of buying the "label," not buying the coin. To me, a PF70 struck on day one fails to carry more inherent value than one struck on day three. But, that is "to me. Everyone else's mileage may vary, as in, they might think there is more inherent value, and that's fine too.

    Unless a dealer is being fraudulent, it's up to everyone to decide for themselves if label definition makes the coin worth more.

    That's one of the beautiful things about this hobby. The only time that changes is if the seller/dealer lies, cheats, etc.
     
    Santinidollar likes this.
  21. Beefer518

    Beefer518 Well-Known Member

    The only possible reason, in my worthless opinion, for a 'first strike/first day' to be worth a premium is if it was first strike/first day of that particular, individual die. As each subsequent strike should reduce the strike quality of each coin after the first, it would stand to reason that only those with a 'first strike' designation could possibly be a 70. If that were the case, then I could see the value, but as well all know, it seems that approx. 20% of all strikes, regardless of die stage, gets a 70 from the TPG's. If the TPG's only gave 70's to those proven to be first strikes, then there should be a well-deserved premium. But since this (and every other) hobby is profit driven, there are 70's on mid-run/late-run coins, rendering the first day/strikes a marketing ploy.

    Just my take on it.
     
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