why are proof sets worth less than the individual coins?

grovestom

Anybody know why a proof set is worth less than each coin individually? I have a set of 1955 - 1964 proof sets and when I look up say, the 1955 franklin proof in a 65 0r 66 grade, that one coin is worth ( supposedly) more than the proof set all together. Am I wrong assuming the coin in the original plastic is a 65 or 66 grade? Geez they look absolutely perfect through the mylar.
I'm a newbie so be gentle.

291fifth

When grades like 65 or 66 are used in pricing guides the coins are assumed to be in MAJOR TPG slabs (PCGS or NGC). The raw coins are just raw coins and will not get those prices or anywhere near them.

ricko

@grovestom... Welcome aboard.... Valid question and @291fifth has provided the answer. Many collectors scan available proof sets for that 'special' high grade coin... buy the set and then break out the coin for submittal. Cheers, RickO

grovestom

Thanks Ricko and 291fifth. That makes perfect sense. Just the act of getting a coin graded i suppose would add a little value.
It seems like this can get a little complicated unless you really know what you are doing. So far I just buy coins I like, without paying too much attention to value, but once I start paying up for them, I should learn how to not get conned into paying too much more than they are worth. I also don't suppose its worth grading a proof set just out of curiosity, breaking it up means it's not a stock set anymore either. I kind of like the old yellowed paper it came in. The note from the lady at the mint that came with the set is pretty funny too. It says something like " lets save each other undue questions. if your coin looks scratched it's probably just the plastic protective sheet" or something like that. It made me laugh.
Hopefully I get this forum thing figured out too. I've never been on one of these before, its a bit weird navigating.
I was hoping this might help me learn and maybe find new sources to buy from too. I cleaned out my local pawn shop and I categorically assume the television sales places are overpriced.
Thanks again

JBK

Also, for common modern proof coins, when someone wants only one coin from a set, they are willing to pay more than that coin's % of value from a complete set so they don't have to buy the entire set to get the one coin.

privatecoin

Certain coins are in higher demand than others.

ChrisH821

Not entirely related to your question, but 1955 is an interesting year for proof sets. The sets came in both boxed form and flat pack. For some reason the flat pack sets cost more.

olympicsos

@ChrisH821 said:
Not entirely related to your question, but 1955 is an interesting year for proof sets. The sets came in both boxed form and flat pack. For some reason the flat pack sets cost more.

Because those sets are still intact whereas the box sets are not all intact.

Baley

Welcome aboard grovestom!

You ask very good questions, and have a gifted writing style. Stick around, there is a ton to learn and contribute here, the best US coin forum.

Grading and pricing have much nuance. My advice is to go slow.

The world is quite literally awash in coins to buy with many more produced every single day.