Is $125 a good deal for a 1999 silver proof set
rd5425
Posts: 484
Im not quite sure of the current price of these and was offered one for $125, should I take it?
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Dan
First Place Winner of the 2005 Rampage design contest!
and you like it and it looks good to you
and you buy it with discretionary funds
and you are in it for fun as a hobby
then buy it!
personally myself i would pass on it and buy a nice circ original twenty cent piece vf
or a nice vf trade dollar
or any neat vf/xf pre 1900 classic type coins
sincerely michael
The price does NOT have to come down and the world is not ending. The price could come down in a few years, but people were saying that when this set was retailing for $100. They are becoming disbursed among small collectors and dealers have to pay more for their stock. Unless this changes, or the demand slacks off, prices will remain high.
First the coins must be nice. They don't have to be Proof-68s, but they do have to be attractive without ugly toning or large marks. Most modern Proof coins come from the mint in nice condition, but some sets because of poor storeage do go bad. Make sure this is not one of them.
Second, in coming years the price could come down. The crunch may not come until the state quarter series is finished, but some day prices could fall. Many Proof sets from the 1960s, '70s and '80s sell for less than they did years ago because of lower collector interest. The 1999 silver set may not be any different.
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when you consider the magnitude of the price increase for these sets over the '98.
While $125 may seem the end of the world to many old time collectors, and I most
assuredly am not here to convince anyone of their value nor is my intent to recom-
mend these for appreciation, there are some things to keep in mind when looking at
prices for these.
Two million 50-D nickels got up to $150 in todays money the last time there was a mass
market for coins. These coins contained no silver and ultimately were desired only by
Jefferson nickel date collectors (& a few others). They were issued only in a single year
and many were set aside in large hordes.
The coins in the '99 set are silver and unavailabe anywhere else as such. There are
eight coins in the set with a mintage only a little more than one third of the 50-D nickel.
These coins appeal to far more collectors since they are various denominations and
themes. And perhaps most importantly, there are far more collecting states quarters
than ever collected Jeffersons.
While I'm really not recommending them, I would suggest it's way too early to be concerned
with the end of time.
I can remember when I was a kid collector in 1964 that the retail price for 1950-D nickels in BU was $35.00. Since then it has settled back down to well under $10 (like $5 to $7 at last glance). The supply of BU pieces is more than enough to keep up with demand in the current market.
There is no gaurantee that the general public will ever learn of the exist-
ence of these coins, even if they do it's possible they won't consider them
necessary to complete the set or that they will percieved as already too expen-
sive. If you like these coins and feel the price isn't too high then certainly they
should be purchased. If you are looking for an investment in coins, you should
look elsewhere. If you insist on investing in coins then there are many other
modern and classic coins with a better profit potential. If you buy these for
investment anyway, it doesn't take a lot of imagination to see a profit.
50-D nickels could be manipulated due to some large hordes. I've heard of
a single horde of nearly three quarters of a million coins. There were, no doubt,
several others.
<< <i>125 is not going to send you into bankruptcy. Heck, you can easily drop that on a restaurant meal with your wife or girl friend, >>
Does McDonald's really super-size your meal that much? That must be a pickup-truck full of fries...
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