Question for Modern collectors.

SanctionII

I have been shown a collection of OGP Mint Sets and Proof Sets from 1976 to 1985 that are in pristine condition. Many are still contained in the the boxes they they were packed in when the mint mailed them to the customer who ordered them. It looks like this shipping boxes were opened merely to insure the # of sets ordered were delivered. One shipping box has not even been opened.

The sets include 1 1976 Proof Set, 1 1977 Proof Set, 5 1979 Proof Sets in the shipping box, 5 1980 Proof Sets in the shipping box, 3 1980 Mint Sets, 5 1981 Proof sets in the shipping boxes, 5 1983 Proof Sets in the shipping boxes; 5 1984 Mint Sets, 5 1984 Proof Sets in shipping boxes and 5 1985 Proof Sets in an unopened shipping box.

I looked at some of the Proof Sets and Mint Sets. The coins in the sets and the OGP again look pristine and high quality. Much better than the usual OGP sets that have seen lots of wear and tear over the decades.

I know that varieties exist for these years (1979 & 1981 Type 1 and Type 2 proof coins; 1983 No S proof dime; and 1984 P DDO mint set cent) the existence of which provides an upside for cherrypickers. I also see that PF 70 examples of some of these coins are very expensive (while PF 69 examples are not worth the cost of slabbing.

With the above being the situation, my question is:

Do these types of fresh from the mint/never been looked at/one owner sets have any substantial collector/dealer following who would be interested in buying same?

thefinn

Yes, at a discount.

Hydrant

I have been collecting moderns, 1965 to date, for about a year now. It's just something to do and it lets me handle a lot of coins to examine on the cheap. I have yet to find anything truly interesting or esoteric. But that's just me and I'm learning. And having fun in the meantime. No matter what I pay for any modern coin, I just assume that it's true value is face. But I'm enjoying it and that's the main thing.

cladking

Mint and proof sets are very strong right now; especially mint sets. Most sets from pre-'84 are tarnished and the main reason prices are as low as they are is that if you offer bid all you get are tarnished sets. Pristine sets are definitely worth a premium. In addition to this premium there is a premium for sets that haven't been cherry picked. Because of the dates the aggregate premium isn't great but '79 and '80 mint sets are often tarnished.

Even later date proof sets have issues with tarnish though it's more subtle and much less noticeable.

The real money in moderns is still in high grades and varieties but escalating prices are bailing out a lot of old time buyers.

MsMorrisine

Pulling a 70 off a pristine set is still tough

cladking

Wow! I just looked and the venues moving the most mint sets have raised their prices again this week. Even eBay is bringing higher prices. I just saw a '73 go for $13 + $4 SH. This isn't a lot but there was nothing special about the set and a couple years ago a nice one might go begging for $9. Even though this date has mint set only Ikes very few are tarnished and it looks like it's the '74, "'75", and '76 Ikes in much higher demand. My favorite date, the '69, is actually sold out by Littleton though they will restock pretty fast if history is any guide. This set not only has the toughest BU modern, the '69-(P) quarter, but most are tarnished. It's going to be tough keeping nice sets in stock.

Proof sets are no slouch. The '77-S half dollar is wholesaling for $4 all of a sudden! I don't know why but it's no more tarnished than most dates of the era (about 40%). A phenomenal number of proof and especially mint sets have been dismantled and the coins spent for many years now. Tens of millions of proof coins have been put into circulation and even more mint set coins.

It's a shame I'm a big seller right now since it would be a lot more fun buying and cherry picking. I think the prices might be going up because there are so many collectors who need the various coins for their sets and the local coin shop just doesn't bother keeping much inventory any longer. Not as many sets walk into the shop as in the old days and many dealers just cut them up if they're forced to buy them. If ya' gotta sell ya' can't beat a strong market.

Much to my surprise there weren't very large numbers of the SBA's set aside and wholesale on these has been creeping higher. I had believed these would be in ample supply for a century and set very few aside and many of these tarnished.

wondercoin

“Proof sets are no slouch. The '77-S half dollar is wholesaling for $4 all of a sudden! I don't know why but it's no more tarnished than most dates of the era (about 40%).”

Pricing Misinformation is often to blame, even in respected pricing guides. Retail dealers are trying to get about $2/coin right now. So, if you know where they are “wholesaling” for $4, I can help you make a whole lot of money right this minute! 😂

Wondercoin

ricko

Well, if Mint and Proof sets start to appreciate, then maybe I will unpack some boxes that have been unopened for the last 12-13 years..... I am not a dealer/seller, however, they are just taking up space that could be occupied by other stuff. Cheers, RickO

Cougar1978

I can’t see them bringing more than 60 pct NN Coin Market Sell.

cladking

@wondercoin said:

Pricing Misinformation is often to blame, even in respected pricing guides. Retail dealers are trying to get about $2/coin right now. So, if you know where they are “wholesaling” for $4, I can help you make a whole lot of money right this minute!

I've been selling a lot of coins and shopping around for the highest prices. Buyers are very picky, especially with the proof coins, but better than 50% of '77-S half dollars will meet the standards. Just toss out the occasional poor strike or flawed specimen and everything with tarnish or haze. The banks love the castoffs. Some dates are getting tough to find and when you do more than 80% have problems. Try putting together a roll of nice chBU '76 tI Ikes!!! Most of the '75 mint sets are long gone and the survivors are all tarnished. The attrition rate has always been staggeringly high on moderns (~3%) but now it has been increasing rapidly because coins left in the mint set plastic are going bad. This is all coming to a head because the demand, while still low, has been steadily increasing for many years.

More and more I'm seeing strong buy prices. It reminds me of 1989 right before the coin market collapsed when there were offers to buy '69 mint sets for $20. When the classics collapsed it took moderns with them.

As you know, most clad is virtually unavailable in rolls. This leaves only mint and proof sets to supply the growing collector demand. Where there used to be thousands of mint and proof sets for every collector, now there are not. Nice attractive BU and proof moderns do not exist in the quantities necessary to supply a mass market. If large numbers of collectors ever materialize many will be searching for VG's in circulation.

I've never seen this broad based strength in moderns before. In the past it was usually just a few coins or sets affected.

BearlyHere

I only buy silver proof sets.
The limited edition sets seem to be the only ones that are going higher with any significant appreciation.
https://catalog.usmint.gov/united-states-mint-limited-edition-2020-silver-proof-set-20RC.html?cgid=2020-product-schedule
https://www.ebay.com/sch/i.html?_from=R40&_nkw=2020+limited+edition+silver+proof+set&_sacat=0&LH_BIN=1&_sop=12

winesteven

@ricko said:
Well, if Mint and Proof sets start to appreciate, then maybe I will unpack some boxes that have been unopened for the last 12-13 years..... I am not a dealer/seller, however, they are just taking up space that could be occupied by other stuff. Cheers, RickO

What????? @ricko might SELL something, lol. That would be a FIRST!

Steve

ricko

@winesteven.... Actually, and I have mentioned it here before, I sold some gold Britannia's back when gold did it's run up around 2011.... Cheers, RickO

winesteven

@ricko said:
Actually, and I have mentioned it here before, I sold some gold Britannia's back when gold did it's run up around 2011.... Cheers, RickO

I stand corrected, but at least we agree there’s at least 10 years of dust on some of the items that provide you no interest or pleasure in 2021.

ricko

@winesteven.... Oh yeah..... some with 30 years or more....Cheers, RickO