silver proof sets: to break or not to break?

ryanmp

I am interested in opinions on whether or not it is profitable to break my 2002 silver proof mint sets up and have each coin individually graded, or should I leave them in the original mint packaging as sets? Thanks for your input on my 2003 ASE question!
Ryanmp

LanLord

I can't see how it would be very profitable to break them out at this time, they are so recent that the sets are not difficult to get, therefore anyone who needed a PR69dcam can likely get one by breaking their own set. But hang on to them, several of the past years (1999 and 2001) are looking pretty sweet. Hard to tell what 02 will do.

BillJones

It's only worth breaking up modern Proof sets if the value of one of more individual make such a move worthwhile. To determine that you need expertise in grading modern Proofs and determining if they will grade something like PR-67 or better. After you have determined if any of the singles are very high grade, you will need to review something like the PCGS price guides to see if the values make sense. After that you at the mercy of the graders just like the rest of us. You may not get the grades you think you deserve.

I don't like modern Proof singles at all, but that's just me. As a collector I would only buy complete sets with an eye toward cherrypicking sets that really nice.

Uncertified Proof singles are the pits so far as I'm concerned. If they are not stored properly, they can go bad as fast as a snowball will melt in July.

coinrookie

If you are sure they would go 69dc I would say go ahead. As for them being big money makers? But I would also keep atleast one set in it`s original packaging. I think it is always neat to have a completely original set from the mint.

itsnotjustme

Best way to judge is to review recent e-bay sales and see what 69DCAMs bring. Also look at some of the 68DCAMs and 69CAMs for the coins that don't make the grade. Add up for 80% PR69DCAMs, and 20% lower grades. Compare to the combined total of present value of the set, shipping in, $10 per coin grading fee, return shipping, and e-bay fees (if used). I suspect you will find it not easy to make a good profit. If you were very good at eliminating coins that will not make the grade before submitting, you will do better. Also, due to shipping costs, larger batches are easier to turn a profit on.

If you want to grade moderns and sell for a profit, it's best to be first out of the box... order you coins first day available, buy enough to get priority shipping, and immediately submit to PCGS. As soon as the coins return, get them listed on the boards and/or e-bay.

Monstavet

You do not have to remove them from the sets to have them graded. PCGS will do that for you.

gmarguli

If they are for your personal collection, then you are probably better off buying them slabbed.

If you want to resell them, then you better be able to grade and expect VERY low margins. There is VERY little profit in them after you factor in all the costs.

APA1709

When you say "profitable", I take it to mean as a way to make a return on your investment for a 2002 silver proof set? If that is the case, I would sell it as is. 2002 silver proof sets, IMHO, are doing quite well for having recently sold out. I purchased 125 of them from the mint at 31.95 of course....since they are selling between 48 and 55 a set on Ebay, I call that a pretty good profit without going through the expense (as others here articulated so well) of grading and reselling. And, since the board is correct on receiving a grade you might not be happy with, I'd buy already slabbed. I think any coin from a 1999-2002 silver/proof set that does not grade pr69dcam isn't worth (on the market) a hill of beans. Just my thoughts....