Why are 2000 Silver mints sets priced so much lower

nolimitz

Than the rest of the series? 99's are over $200, 01's, 02's are pushing a $100. I don't get it
Thanks
link to 00 auction

GAT

It appears the mint sold too many silver sets in 2000. I own 6 sets myself directly from the mint at $31.95 each.

fivecents

<< <i>Why are 2000 Silver mints sets priced so much lower >>


Because alot of people bought multiple sets of the 2000 silver proof sets. All of the rest of the statehood silver proof sets were more widely dispersed.

dbldie55

In 1999, there was a limit of only 2 sets. This made it hard for bulk dealers. The sets sold and were very widely spread. In 2000, they did not have the limit. Since the 1999 sets had gone so high, many speculators bought many. While the mintage is higher, it is not that much higher. It just turned out that some of the bulk dealers had many in stock, so the price remained low.

I think the results of 2000 resulted in different thoughts for buyers of the 01 and 02 sets.

nolimitz

My 2003 Redbook shows mintage of 99 silver proff sets at 800K and 2000 @ 856,400
Still makes no sense to me unless Redbook is way off on mintage #'s

fivecents

nolimitz... If the Redbook has the mintages right, the 2000 silver sets could really rise in price. Even if the 2000 silver sets were hoarded by alot of collectors when first issued. The mintage is to close to that of the high priced 1999 silver sets. Of course that is if the Redbook has the mintages correct.

fishcooker

I don't trust those mintages. More people bought them, and more of them. Every time it comes up, people post "I have 6" or "We have 20." I have 10 of 'em in my safe box.

After that fiasco I sure as heck didn't buy 10 2001's or 2002's......

kranky

Interesting that this question came up today. At the show I was at today, a customer who was obviously new to the hobby was discussing the purchase of the 2000 & 2001 silver Proof sets with a dealer while I was standing there. His explanation for the low price on the 2000 set was just what dbldie55 said. He said he knows many dealers who have hundreds of the 2000 silver sets they bought directly from the Mint.

With that kind of supply overhanging the market, I think it would be difficult for the price to go up.

nolimitz

This would suggest that the mintage is 2x-3x what it was for the 99. correct?
Or there is a severly impalanced market between the two.

kranky

No, the mintages reported by the Mint are accurate. dbldie55 outlined the key reason. The big factor is that the 2000 sets were purchased in quantity by dealers, and so they are readily available. The 1999 sets were much more widely dispersed, so there aren't any easily obtainable quantities to fill orders.

If you want 100 sets of the 2000 silver set, you could call any number of dealers and get your order filled instantly. That easily-available supply keeps the prices down.
If you want 100 sets of the 1999 silver set, you can't. Dealers didn't have a chance to purchase them in quantities.

fishcooker

The 2000's sold for a *long* time - well into 2001.

If the mintages are correct, then are there thousands of collectors who have the 1999, but not the 2000?

nolimitz

re: If you want 100 sets of the 2000 silver set, you could call any number of dealers and get your order filled instantly

Kranky
This being the case, why is there no demand for only the 2000 set after 3 1/2 yrs? I assume that dealers could also buy in bulk (or did'nt)
in 01/02 yet there is still collector demand for those. why not the same demand 2000. assuming the mintage #'s are correct. it there are
1mil + collectors for the 99/01/02 why not the 2000
Sorry still don't get it.
Pete

kranky

It's quite possible that the demand is the same for both years. But dealers have plenty of 2000 sets available, so it's easy for them to meet the demand from stock on hand, or stock that they can get from other dealers easily. With readily available stock, prices stay level.

Since they don't have stockpiles of 1999 sets, the only way they can get sets for resale is to buy them from people who bought them from the Mint. None of those people have stockpiles either, since the limit was two sets. So dealers can't meet the demand from stock, and have to go on the open market to obtain sets. That competition for supply is what drove the price up.

Many dealers (and probably quite a few collector/investors) are still sitting on big piles of 2000 sets.