Silver Proof Sets vs Proof Sets and question

Discussion in 'Coin Chat' started by JeffsRealm, Aug 31, 2016.

  1. JeffsRealm

    JeffsRealm Active Member

    So as I mentioned I am pretty new to this. I am working on still building up a collection though going through that massive amount of coins I inherited. However, I decided to experiment with a $100 and what I think is a pretty safe experiment. Please let me know if I am wrong on this.

    Anyway, I went to the US Mint. The real one the .gov site not the .com one. I bought 2016 silver proof set and 2015 silver proof set. I figured, why not, proof seems to be the best plus silver has at least a melt value. There were also only about $20 more than the regular proof set. Plus I figure I might be able to get most of the regular coins in pocket change someday. Also it seems that regular proof sets seem to go down in value at least new ones.

    Then, I found on ebay a 1971 proof set, just regular according to the red book there wasn't a silver proof set. This year has meaning to me. It was only a couple dollars over red book value. So I figured why not. I am kind of dipping my toes in the water so while I may have over paid, the year does hold a meaning to me.

    Ok, now I have to silver proof sets in hand, I can't honestly say I am not a fan of them. They are just too shiny, like the toy that sits in a box never used. No real feeling to it. As I am going through change and other things there are characteristics, dirt, scratches and things that do me really brings out more detail, more feeling in the coin. The regular 1971 proof set is actually more appealing to me it seems more real. Not as shiny.

    Ok, so question number 1, is this really a smart way to do this going forward, buying proof sets from the US mint? Why or Why not? So like 2017 rolls around, should I buy another 2017 Silver proof set directly from the mint? or are they kind of like cars they loose their value after you take them off the lot. I figure the silver itself will always go up or is best to wait a year or so?

    Question number 2, is it really advisable to get a regular proof set if you get the silver proof set? As I said I actually think the regular proof set is more attractive at least from what I have seen comparing my 1971 to my 2016 silver. It has more character I guess is the term I would use.

    Question 3 Kind of goes along with buying directly from the mint, would it be advisable to just buy the uncirculated coin sets. You do get one from each mint. Or do you just go for them in your pocket change?
     
    Last edited: Aug 31, 2016
    Jason Hoffpauir likes this.
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  3. Lawtoad

    Lawtoad Well-Known Member

    First, there is really no right way or wrong way to collect. If you look there are modern proof sets that have gone up in value. I personally collect for the joy of collecting. You should do what makes you feel more comfortable. If you are more drawn to the silver proofs then get them from whichever source is more to your liking.

    Second, if you want proofs minted in the same composition as circulating coins, then buy the regular proof set as well, if not pass on it.

    Third, if you want to get the entire unc set right away, then buy the sets. I know many collectors buy the unc set just for the purpose of getting that years production pieces for their sets. Some buy them for a particular coin. Half dollars are not minted for circulation, so many people buy the sets just to get the half dollars.

    The bottom line, at least in my mind, is to collect the way you find most enjoyable. It is a wonderful hobby.
     
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  4. Petrisma3086

    Petrisma3086 New Member

    Can i ask where can i sell my 34th year kuang hsu coin
     
  5. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    First, welcome to the neighborhood!

    I must tell you that it is not very polite to hijack someone's thread with a totally unrelated sales pitch. We do have a "For Sale" forum, but you need a minimum of 10 posts before you can use it.

    Have a good day.

    Chris
     
  6. iontyre

    iontyre Active Member

    JeffsRealm,

    Welcome! Bit of knowledge for you: if you buy a 'regular' proof set of a current year you will not see a lot of difference over the silver proof set. They are manufactured the same way, just using silver for the dime/quarters/half instead of copper nickel clad. The older proof set you bought from 1971 did not use the same manufacturing techniques the mint uses today (especially in regards to the 'frosted' surfaces of the design devices).
     
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  7. Jason Hoffpauir

    Jason Hoffpauir Avid Coin Collector

    I say buy what you want from where you want. That's the ticket. ;)
     
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  8. mark_h

    mark_h Somewhere over the rainbow

    I personally like all the proof sets even though I do not collect them any longer. As mentioned no right way or wrong way to collect. If you like them the go for it. Personally I would price proofs locally, ebay and with certain dealers. Just enjoy what ever you collect.
     
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  9. chuck123

    chuck123 Active Member

    I started buying silver proofs and uncultivated from the mint but later found that I could get most from other sources later at a lower price. I still buy some from the mint though. I just collect what I like. I like to collect them because it is the onle way to get the half dollars. You just collect what appeals to you and what makes you happy. You are the one who has to enjoy them. I enjoy all the coins I have collected. I have over 50,000 wheats and 20,000 barbers I am trying to get through right now. So I am still haviving lots of fun on my oldies but goodies. Good luck on your new habit er uh journey
     
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  10. JeffsRealm

    JeffsRealm Active Member

    Thanks all, I was just wondering if I was doing something wrong by buying like that from the mint. I will probably go back and pick up proof sets from shows and such as I personally kind of like them.

    I just didn't know for sure. I might buy some silver proof sets as well as the silver is well silver. So there should always be a silver value for it. I think I need to get some older silver proof and older regular proof to compare.
     
  11. bdunnse

    bdunnse Who dat?

    Holy cow! Halves, quarters or dimes?
     
  12. xlrcable

    xlrcable Active Member

    JeffsRealm, folks here generally won't tell you that you're wrong to collect something that makes you happy. (Well, actually when things get heated they may tell you exactly that, but don't worry about it now ;)

    It's not really my area but I have some proofs from the 1970s that belonged to an admired relative, and I think they're much nicer than the current proofs - better designs, and without the silly false-cameo frosting. Conventional wisdom says that old clad proof sets are a losing proposition because their values have never "performed" well. I don't quite understand this myself; if they'd performed brilliantly and sold today for $100 each, I'd be a lot more afraid to buy one.
     
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  13. chuck123

    chuck123 Active Member

    dimes bought in the 50's all cir some pretty bad I'm finding just melt value
     
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  14. Nathan401

    Nathan401 Quis custodiet ipsos custodes?

    I completely understand what you mean about proofs being "too shiny". I love regular strike coins, but the more I looked at proofs, they just seemed to grow on me. Then again, I seem to want to collect every type of coin I see. Lol. I'm fairly new at all of this, but it seems that the US Mint's products are super expensive to buy direct. I could be wrong, but I noticed alot of things like Mint sets and Proof sets can be obtained pretty cheap on a certain un-named online bidding site..;)
     
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  15. JeffsRealm

    JeffsRealm Active Member

    Thanks, that helps a lot. I never thought of it that way. If it make you happy then collect it, especially if your just collecting it for yourself. I am not really planning to resell them. A proof set is around $30 new from the mint, and well I certainly know I have spent $30 in much worse ways without anything to show for it.
     
  16. JeffsRealm

    JeffsRealm Active Member

    I do like the older proof set I got from 1971, it's not as shiny, it actually feels a little like it has some character, hopefully the new ones grow on me. Could be like a new beer I tried recently. The first sip was shocking and kind of wierd. I wasn't too interested in it. Next time I went back to that brewery I had to try it again, something about it. Now I have to get it every time I go to that brewery.
     
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  17. BadThad

    BadThad Calibrated for Lincolns

    You can't compare sets from 1971 to those made today, totally different beasts.

    As others have said, collect what you like. Personally, since you're new to this, I would put the brakes on buying ANYTHING until you figure out what you want to collect. I too inherited a large collection (many years ago) and I've gradually been selling stuff from it that is not of interest to me. All I really collect is Lincoln cents so all the other stuff doesn't really matter to me other than some sentimental value. But, my Grandfather was still alive when he gave me the collection and he said repeatedly "sell it if you want"....that eased my mind a bit!

    Good Luck
     
  18. Gilbert

    Gilbert Part time collector Supporter

    If you collect for the joy of collecting then you are on the right track. If, on the other hand, you collect to make money, chances are you will be disappointed.
    And welcome to the neighborhood.
     
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  19. Nathan401

    Nathan401 Quis custodiet ipsos custodes?

    Very true. As an "investment, " you are much better off putting your money in something different, however, I do expect my collection be always be worth at least something. My "investment " is less monetary. My wife and I collect coins, and stack bullion. We only buy, and we never sell anything, regardless of price. My hoard will one day be broken up (I hope) between our 5 children. The look on their faces, the quality time spent going over it with them, and the history of these items making an impact on their lives. These are the reasons I put money into this hobby. It also doesn't hurt that I love everything about coins! Once you guide children into being interested in coins, they seem to develop a sort of respect for money, and that's a great thing in my book!
     
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  20. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    20,000 Barbers? Why? You look almost totally bald to me, Chuck.

    Chris;);)
     
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  21. Nathan401

    Nathan401 Quis custodiet ipsos custodes?

    HAHAHAHAH
     
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