Are the 1999- silver/clad proof sets worth the $ for a YN to buy now?

notlogical

Hi,

I really like proof sets and the state quarter series and have been saving up some birthday money and stuff and my dad said he'd help a little too. I will start buying all the new ones starting in 2005 from the mint but I wasn't collecting coins when the series started in 1999 so I have to buy 1999-2003 now. Is it a good idea to buy the ones I need now or will they go down in price again?

Thanks!

dthigpen

Can't really say if they'll go down in price or how long it'll take. I'd go ahead and shop around and bite the bullet and purchase one if you wish to have a complete set.

kieferscoins

Buy the 1999 silver first. Prices have steadily gone up over the last 2 years and if you wait a few years I really think they will be higher, especially in 2008 when the series ends.

Cameron Kiefer

BillJones

The price on the 1999 Proof sets will probably come down some day. Once the mint is done with the State Quarter Program, they will come up with another series. The new collectors will get hooked on them, and the old state quarter series will become a numismatic memory.

Once the Proof sets get old, the interest in them usually goes down. Many of the sets from the '70s and '80s are now worth less than their issue price.

kieferscoins

I agree somewhat but....



<< <i>Many of the sets from the '70s and '80s are now worth less than their issue price. >>



Is totally different then the state quarter series. The state quarters span many years while the individual year proof sets never had the same following that the State quarters have, especially the 1970's and 80's years.

Cameron Kiefer

cladking

It wouldn't be surprising to see the price of the '99 set come down. The mintage of these sets
is not insubstantial and it will require a high level of interest to maintain or increase their current
price. Much would depend on whether the newbies stay active in the market or not.

The prices of the old clad mint sets has crashed in the last several weeks but this is certainly just
another of the anomalies to which the modern market is prone. All these sets have been above issue
price and many still are. The value of the coins in the sets hasn't really come down and the sets al-
ready sold for less than the aggregate price even before they tanked. The market pays you to destroy
these sets and sell the pieces and the amount it pays just went up. This will almost certainly greatly
hasten the day that the sets are no longer widely available. The reason for the drop is likely that some
of the buyers learned that cutting up these sets to make money on the gems is hard work because
there simply aren't that many gems. The increased activity has likely resulted in a saturation of the thin
markets for date and mint set and in the demand for BU rolls. These buyers have also likely discovered
that large percentages of the coins in mint sets are so poor quality that they can't be sold as BU. This
complicates the effort of profiting on the sets and in a decrease in demand. There is also a strong sea-
sonal effect on the prices of these and large percentages of sales tend to be Christmas related. The
sellers of these have already stocked up and aren't buying more now.

In any case the fact remains that for most moderns the mint sets are the sole source of gems and for
some they are nearly the sole source for unc coins at all.

LanLord

Looks like there is no real telling if prices will go up or down.

Listening to fairly knowledgeable people here will lead you in two separate directions. So the only thing I can do is advise you to buy if you really want them, but don't try to make this a profitable experience. Collecting should be done for enjoyment, not profit.

If you want the complete set of PROOF sets with State Quarters, jump on in. It's a pretty set to own and very gratifying to own.

Both the silver and clad sets will be desireable in the future, but no one can promise you they will be more valuable than what you spend on them.

Good luck.

notlogical

<< <i> but don't try to make this a profitable experience. Collecting should be done for enjoyment, not profit.

If you want the complete set of PROOF sets with State Quarters, jump on in. It's a pretty set to own and very gratifying to own.

Good luck. >>




That's how I feel too

Heywood

I waited to buy the 99 silver, when it went up to 79 dollars, I thought It has to come down! ( That was 3-4 years ago)

I was recently able to swap a 2001 silver and 2001 clad +$20 for the 99 silver (9 piece).

It worked out OK since I had bought the 2001's from the mint at issue price. (34+ 24 + 20).

There is a perception (Maybe due to Coin shows and registry sets) that many sets were busted up to certify, or placed in "complete set" albumns so there are fewer available.

Another coinshow mantra is that people in populous states ( Florida, California, etc) had/would wait until their state came out to start collecting, increaseing the demand for earlier (missed) sets.

BillJones

The mintage for the 1999-S Proof sets was as follows:

1999-S 9 piece clad set 2,543,401 - That's a lot of sets to sustain the current bid of $66.00, and that' down from its all time high

1999-S 9 piece silver set 804,565 that might seem low by modern standards, but other silver sets have mintages below a million and sell for far less than the current bid of $ 235.00 for the 1999-S silver set. I would not be comfortable with a large long term commitment in this set. That's just my opinion.

BUT if you are collector (as I still am) I am holding one set for fun.

notlogical

Thanks for the advice and information everybody.

Merc

I agree with BillJones. He has given you good advice with mintage numbers. The supply is high. It is just the demand is currently high too. There have been several new mint products that were expensive at first but have come down. The 1973 silver Ike dollars were over $100 at one time. The 1986 $5 Statue of Liberty gold was expensive but came down after a few years. History often repeats itself.

BillJones

I can remember when the 1973 Silver Proof Ike dollar sold for over $200. That's when I sold mine. The three piece Statue of Liberty Proof set once sold for $450. That's when I should have sold mine. Years ago I purchased a six piece Statue of Liberty Proof and Mint State set in the cherrywood box for $165.00. That was outragiously low, but that set was up to $850 at the peak.

Some modern coins hold their value, but quite often there is an initial flurry and then it dies down, sometimes WAY down. The 1999-S silver Proof set might be worth over $200 in the long run, but I'd bet against it. Of course that's just my opinion.

100proof1957

Just my .02

Im doing the sets in silver and clad to give my son down the road,no body can predict what these will be worth in 50 yrs.

I didnt start collecting these untill this year,i am caught up now and paid the premium to do so.

I still think the 2009 set will be a very nice book end for the SHQ program,i think there will be as many as 5 new Lincoln cents that year.

notlogical

<< <i>
Some modern coins hold their value, but quite often there is an initial flurry and then it dies down, sometimes WAY down. The 1999-S silver Proof set might be worth over $200 in the long run, but I'd bet against it. Of course that's just my opinion. >>



Well, I have the time to wait but I don't know if i can.

tlhoy

2 Questions for you.
Are you a Star Trek fan? If so please specify TNG, DS9, Voyager or Enterprise.
I'm a HUGE DS9 fan.
Is that you in your sig. line?
Oh yea, I collect the Silver Proof Sets! Must keep it coin related.

Glenn

Live long and prosper.

DRUNNER

Perhaps another twist to this 1999 Silver Set situation (I love alliteration!) . . .

In that year the Mint had a maximum two set limit per address for the vast majority of the year. I know . . many of the local dealers in my area asked me to order two sets for them (yeah, right) since they knew they would not be able to obtain enough. Many people got their two sets, but the extremely wide distribution has kept the prices high . . .and I believe will do so in the future. Simply put . . .no one has any sets. Many are locked away, one or two at a time, in grand-dads safety-deposit box, and the rare occurrences when the pair show up at a coin shop really seem to elevate the blood pressure (at least where I am--SLC). They come out a pair at a time now . . .when grand-dad goes to that great Mint in the sky, or the clueless high school kid who received them as a 6th grader hauls one in and gets a $100 offer for it.

All the other years were open season. Dealers have them by the gross . . . but ask them how many 1999 sets they have. The appearance of even one or two causes a low-grade commotion at the 30-45 table shows where I live.

Yes . . . at year's end, the Mint quietly opened up the ordering and those who were monitoring the website in the last week or two of the year cashed in. But . . . MANY of the dealers missed out totally on this part of the program, as it only was in place for a few days before they sold out.

For that reason . . . I believe the sets will remain near where they are now . . or increase. Simple . . . increased demand as the series nears completion . . . but still minimal supply.


DRUNNER
ANA Section 25 Rep

JoesMaName

<< <i>2 Questions for you.
Are you a Star Trek fan? If so please specify TNG, DS9, Voyager or Enterprise.
I'm a HUGE DS9 fan.
Is that you in your sig. line?
Oh yea, I collect the Silver Proof Sets! Must keep it coin related.

Glenn

Live long and prosper. >>



Ya I had the same question - but am sure he's a TOS fan! Kirk rules Picard drules!
As for the future of Silver proof set prices.... I personaly think they will fall, I also think I may be wrong
and as I want a full set, I'm keeping mine. I could kick myself for not buying more then one though!

notlogical

<< <i>2 Questions for you.
Are you a Star Trek fan? If so please specify TNG, DS9, Voyager or Enterprise.
I'm a HUGE DS9 fan.
Is that you in your sig. line?
Oh yea, I collect the Silver Proof Sets! Must keep it coin related.

Glenn

Live long and prosper. >>



I like the original Star Trek. I usually dress like Mr. Spock for halloween and stuff. My mom made me a spock uniform shirt. A couple of years ago I got a phaser, a communicator and a tricorder for christmas. they are really cool. They make all the real sounds and stuff. I still use them a lot.

That is a picture of me a couple of years ago I think when i got my box of stuff from frattlaws 4th of july yn giveaway.