OK, Last month I bought (100) 2005 mint sets at $26.00 apiece. This guy is offering to buy at $28.00 each. Do you think I should just go ahead and sell them now, or would it be wise to wait? The greysheet price on these hasn't changed at all in the last 3 weeks. Hmmm.
I would sell them...$2 each isn't bad....there are lots of these sets and I don't think they will go up much....some don't agree with me... Speedy
If you bought that many and if I did like you, I would just put them up for atleast 10 years then think about it, thats how the big dealers do, they buy alot of stock and hold onto it for later profits......
I think that if you asked dealers they would disagree with you. They simply can't afford to have all their money tied up in inventory that they are letting "ripen" for ten years. A coin dealer is in the business of quickly turning his inventory over. Anything else and the business will not succeed.
Well, I liked "Speedy" 's first response and philosophy of the coins, but my first conotation was what "Julzboi661" said. Wait and sell them at the higher cost. I was looking at the values of the mint sets from the past few years in "Coin World Trends" magazine and about half of the sets had gone to $30 and above whereas half where under $30. 2005 looks like a year of low values for the set. Wait till someone offers around $30 per set and then sell, just to be safe.
Use a "comparison shopping" approach. Is this the best use for $2800 ties up in numismatics that you can think of? If it is, hold them. If you can think of something else you like better with more potential, sell them and redeploy the cash.
Thanks, Cloudsweeper. Unfortunately my buyer just declined to buy the sets, so it looks like I am stuck with them for the time being. I don't know how else I'm going to get rid of them without taking a loss. Unfortunately with the holiday season and all, I'm a bit low on $$ so as much as I'd like to, I can't really afford to hold on these sets much longer. Oh well. Sometimes I'm good with my investment strategies; other times (like this) I get caught up in the "hype"
Alot of dealers wont buy the new stuff, they get it from the mint and sell to you guys!Most wont even buy those silver eagles at book price,mint sets, ect.. only bullion,so all you that buy from TV programs are really stuck withem. and yes some of the big companys do hold for years, where do you think STOCK comes from?Do you think they just buy some stock and then sell for 5 or 10 dollars in a few months profit??NOT!.Somebody is buying all that older STOCK that someone held for some years. Ive done it myself, any dealer thats been around for years will tell you when investing in coins, expect the profits from LONGTERM holdings...................Hope you can get rid of them like you want without the dealer buy spread.:whistle:
OK, time for plan B... I just posted an ad to sell some sets on this site's Open forum. We'll see what happens... hopefully I'll get some takers. Wish me luck
So much depends on your age and/or need for cash. If your young and don't need the money, put them away for the future. If your old like me and not sure of how many more tomorrows there will be, sell them all. There was a guy once that bought a lot of the last auto convertibles, 1976 Cadilacs, and saved them because some day they would be worth a fortune. Then in the 80's out came new convertible and the price of his went plumiting down. A friend of mine went nutty saving Bicentennial coins and ended up taking them to the bank for face value after over 20 years. If you have that many sets, sell them.
Well seeing how dealers are now asking $35 to $37 per set I would NOT sell right now as in 3 to 6 months these sets will surpass the 2004 sets. Sit tight and KEEP what ever you have left. Whats the hurry and will $2 bucks a set make your life better? Trust me on this one!
You know...I never thought the 2004 Mint set would have gone to where it is...I picked up one set since I'm working (off and on) on the US Mint sets from 1947-2004 since that is all of the UNC sets.... BTW--How are the 2005 Buff nickels going?? Speedy
