I've read the red book and I'm not sure exactly how much my 2000 proof set is worth. Is it based on the current value of gold? Shouldn't these increase in value as they grow older? It seems from looking on ebay they all go for about the same amount. While a brand new set starts at $1300, the older ones sell for less than that. Thanks for your help!
You point up a good example of modern supply and demand pricing. Its a fact that the gold in your 2000 set is exactly as much as the ones in the new set selling for $1300. The difference is called "mark up" and the U.S. Mint keeps the difference. Simple as that.
Howdy zazuwa - Welcome to the Forum !! To a degree, the value of the AGE Proof sets are based on the current price of gold. But you need to remember that in 2000 the price of gold was less than $300 an ounce. Today the price is approaching $500 oz - so it is only natural that the sets cost less then. And of they cost less then - they cost less now. Many collectors make the mistake of thinking that age of a coin has something to do with its value - this is simply not true. There are many coins which were sold to collectors by the US Mint that are worth less today than what the collectors paid for them some years ago. The opposite is also true in some cases. It just depends on the coin and how many people want to own that coin at the present time - supply and demand. The same thing is true of coins struck for circulation - sometimes a coin struck 100 years ago cost less than a coin struck 10 years ago. Bottom line - the age of the coin has nothing to do with its value.
