Mint and Proof sets 1962-1965
Bergom
Posts: 9 ✭
This is from the American Norwegian heirloom found in 2004.
72 mint sets:
Sell as is or melt?
13 set 1962 Mint
4 set 1962 Proof
12 set 1963 Proof
13 set 1963 Mint
15 set 1964 Proof
10 set 1964 Mint
5 set 1965 Special Mint
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Comments
Even with the lower price of silver now, the proof sets have a melt value of about $47.00 and the mint sets have a value of about $95.00. From the standpoint of a collector, these will always be somewhat more than melt, but your local coin dealer probably will give you a price somewhat less. These are all cool and I would keep them all but that's just me.
I’d try selling them as is. I would not expect to get much more than the melt value of the silver they contain, though. I’d try selling in the “buy sell trade” BST forum on this website, but that may be a bit harder since you are new. Otherwise try eBay, but there are fees.
I would check for varieties before selling.
1964 has a potential variety on the half dollar.
The half dollars in the1965 SMS sets contain forty percent silver, the dimes and quarters do not.
That half today melt ≈ $11.00
Five sets on eBay for the last month sold around $18.00 to $35.00 (high and low removed).
1962 mint sets (last month) =50.00. Melt = $30.00
1962 proof about the same
If you decide to sell for melt you’re left with a few nickels and cents.
Are you in Norway?
Yes, I am in Norway.
I have thought about selling these and my other coins on eBay, but I think it not possible to ship to US at the moment due to the tariffs.
If you are not super interested in learning about US coins then simply sell the group to a local dealer and hope to get more than bullion value. Some folks write over and over "check for varieties" but nearly all varieties are worth very little, if any, premium and if you value your time at all it might not be worth going down that rabbit hole. If you value your time, do not want to ship internationally with the possible loss of items or tariffs or shipping costs, then be done with them and sell to a dealer. They are super common.
In honor of the memory of Cpl. Michael E. Thompson
The proof set melt value today is $47.60. The mint sets have double that amount in silver or about $95.00. This goes for all but the 1965 sets. Latest sales on ebay have been in this range, give or take a few dollars.
Thank you. I appreciate all of the answers.
If you know any collector paying above melt, please send them my way. I can't even get collectors to pay melt.
Edited to add: I think you disproved your own point with your ebay research.
All comments reflect the opinion of the author, even when irrefutably accurate.
I'm not here to start a debate. I looked at recent sales for 1962 mint sets and they all went in the $90 to $100 range. We all know that fees are about 15 percent, but the fact of the matter is that somebody is paying those prices.
Also worth noting is that for many of those varieties the "check for varieties" people themselves won't pay extra, they want to cherrypick them.
A 1962 Mint set has 1.70 face. Depending on the date of the sale, $90 to $100 is either slightly above melt or well below melt. At today's prices, melt is $93.50. Last week, when silver was $8 per toz higher, melt was $104. And, of course, when silver was at $100 per oz, melt was $120.
All comments reflect the opinion of the author, even when irrefutably accurate.
Checking eBay, five sets have sold in the last week, between $95 and $107. Silver has been at $75-$85/oz. during this time. So- a sale at something around $100 just about equals the average melt value of silver in the sets. For someone without an eBay store, the selling fee would be $15 + another $6-$8 for shipping, netting the seller about $78.
Is that a good price or can the OP do better elsewhere? I don't know.
I listed a bunch of silver proof sets at below melt on eBay, knowing I would realize 10-12% below melt after fees and shipping. Why? No one is paying more than that in the current environment. So, I could hold them, hoping the silver price holds up until the smelter backlog clears up, or I could book the profit now and be done with them. I chose the latter.
There is virtually no wholesale price on those sets that is near melt these days. And the "retail" prices are pretty much at melt, if you can find anyone to buy them. My local coin stores have silver sets in stock that they would sell at melt, but no one even looks at them most of the time. And when they do, they usually opt for 999 instead.
Edited to add: People seem to view "worth melt" as an insult. Why does a coin have to have a numismatic premium to be considered worthwhile? I sold some modern commems for $60 this week (melt). Those same commems DIDN'T sell for $25 last year. In the end, the headline price is the headline price. You can tell someone that $100 for a 1962 proof set is "cheap" because it is "below melt". But all the person cares about is that a 1962 proof set costs $100 and that may be more than they want to spend on anything.
All comments reflect the opinion of the author, even when irrefutably accurate.
Recall the OP is based in Norway. So, international shipping, and its security problems, would have to be taken into account. Also, how many folks would want to buy from an unknown from Norway when they could purchase these generic pieces from the US. This cannot be ignored.
In honor of the memory of Cpl. Michael E. Thompson
Since most of these coins seem to be worth around melt then there's no reason to ship them internationally. I assume that there are people in Norway who like to keep silver bullion.
And the proof and mint sets might find buyers among collectors there. The almost full Whitman folders might also intrigue local collectors.