is buying coins from the mint smart

slipgate

I have 2 subscriptions for silver proof sets and regular proof sets (2 each) from the usmint annually. I keep one and give one as birthday and christmas presents to my godson. We aren't talking a lot of money here but is the mint the best place to get these sets?

Also I never even open and look at these coins as I have no real interest in moderns. Is there anything valuable as of late that might be in these sets?

I started getting the uncirculated P and D sets (the ones in cellephane) but stopped as it never seemed like these would be worth anything more than face value. Good move?

LucyBop

had you of purchased 20 silver proof sets in 1999, you would have been one smart cat...

slipgate

Don't I know it! I started this practice, sadly, in 2000.

Gemineye

If you like the oldie's then go for it........................
Whatever floats your boat............................................................

LanLord

I don't know that it is across the board a great idea, but if you like completion and you want it as soon as possible, that's the way to do it.

anoldgoat

If you buy directly from the mint the sets will have a much greater chance of not being picked over. And if it is only for the investment leave them in the shipping box unopened. Also if for completion you will want the mint sets also as the finish on these are now different from circulated strike coins.

cullenbryant

I think it makes very good sense. based on the following assumption:

a lot of people collect the coins they are familiar/grew up with.

AgMe

<< <i>I have 2 subscriptions for silver proof sets and regular proof sets (2 each) from the usmint annually. I keep one and give one as birthday and christmas presents to my godson. We aren't talking a lot of money here but is the mint the best place to get these sets?

Also I never even open and look at these coins as I have no real interest in moderns. Is there anything valuable as of late that might be in these sets?

I started getting the uncirculated P and D sets (the ones in cellephane) but stopped as it never seemed like these would be worth anything more than face value. Good move? >>



Like all things, "it depends". A few plp will buy from a trusted dealer, that way they can save on shipping AND be able to choose what set (PR) they get.

As far as value, when I got the 2004 set (for ~$28 USD or so), I had it a whole 2 months before a dealer offered me $79 USD, 100%+ yield in < 1 yr isn't bad at all.

In the old days, say 3 years ago, I was offered $500 USD for my 1999 PR set (which I paid $17 for)... even the '01 Sackie is a $100 coin by itself.

for the 1999 set, I thought to myself "if I'm offered $600 USD, they can have it!", my max offer was $550 USD and it's back down to $99, not that I even care, because I'm a collector.

The mint sets can be hit or miss, the '04 mint set is a winner... but you never know.

PS I have no idea why the current proof sets (1999-on) have been winners... you never know when the party will end.

~g

relayer

I do it, so I guess that means the answer is "no"

kiyote

Sacagaweas and Kennedy are currently mint sets/rolls only-- they're not a bad buy at all, especially with the "satin finish" being applied to them now. You almost always at least break even, even on common date recent proof sets.

If you really want value, get the kids a tenth oz proof platinum coin in 2006.

19Lyds

My personal opinion reflects a lot of what has already been said, but in my own words,

If your sole purpose is as a collector then there is nothing wrong with buying directly from the mint. If you are an investor, there is still nothing wrong as quantity gets that shipping rate down pretty far on a per set basis. 1 set at $4.95 shipping vs 10 sets at $4.95 shipping. Kinda hard to lose on that.

The big drawback though is that if you decide NOT to purchase from the mint, then the only way to get those sets is at the hands of the investors and the current market price. Waiting for the price to drop after a buying frenzy has occurred could take years.

Me personal philosophy is to just purchase my 5 sets every year then look at what their value is after the next years sets are released.

But, as has been said earlier, what ever floats your boat!

ChuckC

I bought some items from the mint last year, and so far I have a small unrealized gain. ymmv

cladking

I don't think it's a good idea to purchase them with the hopes of making money. Even
though mint products of the last ten years have generally done fairly well, there is no cer-
taity that this will continue. If it reverses you could find yourself with substantial losses.

If you want to collect the coins then there is a risk associated with waiting to buy from
the secondary market and some people simply won't want to wait. A good rule of thumb
is wait for the popular items and jump on the ones no one likes. Even this stategy won't
always work.

TheRaven

Typically I purchase the silver proof set, the clad proof set, the mint set, the silver proof eagle and the 1/10 oz gold and platinum coins and have done this for a few years now.....

I have purchased all of this stuff in 2 shots typically and then the shipping is not a big deal.....

You just can't order everything the day it comes out cause then you will get hurt shipping wise.....

If interested in the stuff, get it from the mint, you aren't going to get it cheaper any time soon.....

FullStrike

Buying junk from the Mint because you hope to profit just like the lucky ones did last year is a risky thing. In all probability, too many others are thinking the same thing. The result? A ton of stuff is ordered, which results in lowered values.

Witness the 2004 Proof Platinums. For years the Proof Platinum Products from the Mint sold for less than issue. Then in 2004, the Mint drastically increased the issue price, which discouraged many from ordering. The result was a sharp decrease in mintage numbers and a sharp increase in the aftermarket price. For 2005, the orders increased and the aftermarket prices have decreased sharply.

For 2006, the Mint has a really nice reverse planned. How high will the mintage be? Probably very high! Those 2004 Coins have brought a lot of attention to the proof issues and this could be a bumper year for the Mint. Everyone thinks they're going to cash in just like the 2004 buyers did. Might be a really good year to sit out on ordering Proof Platinum.

Another great example is the 1999 Silver Proof Sets. Take a look at the mintages and values on everything from 2000 - 2005. Some of them do bring a premium over issue price but they are nothing like the 1999 sets.