Modern proof set pricing

I think the statehood and ATB quarter proofs are different from your 1971 to 1998 proof sets because of the different designs. Everything said about prices being high and then falling will likely occur but I think these newer proof sets will always have a slightly higher premium because of demand. The older proof sets all look the same minus the year made. The statehood ATBs at least have varied designs that will probably spark a little more interest in the future, and the same goes for the Sacs

 

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By that point, everyone will have stopped caring years ago unless something sparks a huge increase in the number of young collectors. With the Mint's current gimmicks and high issue prices, I don't think these have a chance long term. I am getting rid of all of my stuff.

Another part of the equation (and lower demand IMO) is that collectors like to build sets. Building nice older sets is a challenge as the coins differ widely from one another. A set of modern proof sets can be completed in less than an hour shopping on eBay. That kills the joy and excitement for many collectors, and all of the resulting coins pretty much all look alike.

 

When mint sets were first issued and up until about 2005, the purpose of these was to provide collectors with business strike examples of all the coins struck for that year. This is no longer the case as all of the new mint sets contain satin finish coins that are truly specimen sets, and not normal business strikes. Why do we need multiple special yearly sets: normal proof sets, silver proof sets, satin finish mint sets, and all of the variations therein (quarters alone, dollars alone, etc.) ,etc?

 

Rule #1 ...never to pay a big premium for something that was made yesterday. I am not a fan of modern coins, but I'm considering a complete set of 90% PR state quarters.

 

They stopped the Satins after 2010 - the TPG'ers now grade mint set coins as MS business strikes.

 

At least things are getting better.... I'm still not holding my breath.

 

Hey Tater, welcome. You ask me, you answered it in your last sentence. Who collects proof sets, anyway? No one. We buy them, we don't collect them. We give them away as gifts. The uncirculated mint sets, same thing. Look at the 2014 Kennedy Half Dollar P & D mint sets. The dealers are still selling those, 10 at a time. Look at who they're selling them to. Who buys 10 sets but people giving them away as gifts? Oh, but this 2014 one, it's special. Yeah, yawn. The 50th Anniversary. The iconic JFK. The heraldic eagle holding a bundle of 13 arrows and a symbolic olive branch with a shield on its breast and surrounded by a ring of 50 stars. Get yours while supplies last! The kids find these NIFCs ("Not Intended For Circulation") Ps and Ds searching boxes of halves. Even the proofs, even the silver proofs. They're being received as gifts then spent at the 7-11 for candy or a pack of cigarettes. Either that, or they're being kept in the packages, do you believe that? They're getting them as gifts, and they're afraid to open the packages! Or, when they do, they're spending them. Lol. Personally? Not for me. We'll catch these later in the boxes and bags of halves I get for the kids from the banks, we're eating a potato.

 

If grade didn't matter, yeah look for them in circulation - but, it does matter, so what you have is an impaired proof worth face or intrinsic value. And, there aren't that many circulating, most are still in the ogp.

 

You don't know. When you've searched 12 boxes a week for as many years and got bags fresh from the bank counting machines as soon as they filled up, then you'll know.

 

I've searched a fair number of rolls and worked in retail handling a lot of change, rarely did I find a proof, maybe 3 over 20 years. How many have you found in how many rolls? Still, they are impaired, so practically worthless.

 

Just like the 68s and below and practically the 69s.

 

Almost!

I didn't say "bags/rolls". I said bags, for which the premium is the lowest.

I didn't search for shiny coins. That is something novices do.

I didn't say I found just one per bag. The fewest I've ever found in one bag, quarters AND dollars, was 10.

If you want to read about this in greater detail, you can search my posts from the last month or so.

Chris

 

Personally, I think this is the biggest misconception about the Mint Sets. So many people think that these coins, excluding the satin finish coins, are for the most part, in better condition than the average uncirculated business strike. This is not true, because they are all handled the same way until such time when some go to packaging while others go to bags.

To assume that the coins in each Mint Set are in better condition and should, therefore, grade higher, is making a mistake, and you would be wasting money having all of them graded. It's true that many dealers submit the Mint Sets in bulk for grading, but they receive substantial discounts that the average collector doesn't.

Chris

 

Maybe yes, maybe no!

When the US Mint came up with the idea of the SQ program, they had no idea that it would spur collecting interests so greatly and lure millions upon millions of new collectors into the hobby. Because of this, they came to the conclusion that constant change is good. Yes, it was good for the Mint, but was it really good for all collectors? State quarters, Territorial quarters, Sac dollars, Prez dollars, America the Beautiful quarters, 5oz. pucks, First Ladies.......the list will go on and on, ad nauseum.

Is it really good for the hobby? When will the ANA come out with a new 15,000-page edition of the Grading Standards to cover all of the annual design changes? Does this mean that the ANA Grading Standards will have to be reissued every year? How are kids going to keep up with the changes if this book costs $150 or more every year?

I used to collect MS68 specimens of the Sacajawea dollar business strikes with the "Soaring Eagle" reverse, but when the Mint, in their infinite wisdom (greed), decided to change it to the Native American dollar with a different reverse every year, I stopped collecting them.

So, you really have to be honest with yourself. Who is benefitting the most from these changes? In the words of Dirty Harry, "Do you feel lucky?"

Chris

 

The next series should be the Presidential Dogs

 

Didn't they already do this? In gold? I hear they're not selling so well.

 

Gosh, that's nonsense, really. Honestly, just the silver proofs, we must have over 100 by now. We got probably 2/3rds of those in one monster $1000 bank bag. Those are where the scores are.

People don't collect proof sets for one very good reason everybody overlooks, over and over, time and again, and that's, they're "made-to-order" collectibles. Who wants that? Well, I'll tell you, the people who are accustomed to made-to-order grades, that's who. The collectors, these days. But they're the only ones.

And on the quality. When we get them, they're typically a counting machine and bank bag or two away from how those collectors get them. The kids cash them off in the banks, they get counted, bagged, sent off, recounted, then boxed. They go through counting machines and bags at the Mint, too. By the time we get them, they just went through a few extra. What do you think, there's a guy standing at the end of the coin press, picking them off, one-by-one, then sealing them in the capsules? Lol.

Collect what you will. I know I have a different viewpoint, but I'm not denigrating you. If it turns you on, more power to you. I don't need to denigrate others to justify my collecting habits, and you shouldn't do that, either. Tell us why you collect the way you do, tell us why our way is wrong, that's all fair game. Knock heads with us is fine. Hell, sometimes you knock sense into people's heads, that way. You certainly don't do it by backing down and agreeing when you don't agree. You make friends by backing down and agreeing when you don't agree. What's this, a social club? But you get my point.

 

That's funny.....

 

At one time mint set coins were the exact same coins made for circulation, they are not today, read the mint's description and compare some to business strikes.

 

True for some collectors, but not most. The most valuable coins out there were made to order for collectors. In the "uber" class is the 1804 Dollar, the 1913 V Nickel, etc., etc., as well as 19th century proofs. In the modern class they started with the 1995-w proof ASE.