Has anyone read the recent CoinWorld article about diminishing stocks of proof and mint sets?
SanctionII
Posts: 12,245 ✭✭✭✭✭
I just read the article yesterday and found it an interesting read. In short it confirms/substantiates CladKings's numerous posts on the topic of Modern Proof and Mint Set attrition.
Common sense compels the conclusion that as more years pass, as more collectors enter the hobby, as demand from these new collectors for complete MS and Proof date and mintmark sets of the current circulating coinage increases, as intact sets are cut open to obtain specific coins, and as the quality of the coins in the remaining sets decrease (i.e. the cents in 1968 Mint Sets), the supply of these intact sets will decrease to the point where the demand can not be satisfied.
I have accumulated a number of mint sets and proofs sets over the past few years, trying to pick up really nice pieces. I will probably continue to do so into the coming years. At some point in time I hope that the demand for these items goes through the roof so that prices for intact sets will increase expotentially. One of these days hopefully it will happen and if it does, then I can turn a profit on the sets I have.
Common sense compels the conclusion that as more years pass, as more collectors enter the hobby, as demand from these new collectors for complete MS and Proof date and mintmark sets of the current circulating coinage increases, as intact sets are cut open to obtain specific coins, and as the quality of the coins in the remaining sets decrease (i.e. the cents in 1968 Mint Sets), the supply of these intact sets will decrease to the point where the demand can not be satisfied.
I have accumulated a number of mint sets and proofs sets over the past few years, trying to pick up really nice pieces. I will probably continue to do so into the coming years. At some point in time I hope that the demand for these items goes through the roof so that prices for intact sets will increase expotentially. One of these days hopefully it will happen and if it does, then I can turn a profit on the sets I have.
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the individual coins will increase in price since for the main part the coins have been "consumed" and
either no longer exist or no longer are available for sale. The sets would necessarily increase in price
and gain a premium but this premium may not be substantial until the absolute number of intact sets
has dropped below the specific demand for them.
In the long run The value of the set will be the sumtotal of the coins in them and gem sets will sell for
far more than typical sets.
There is a link to the article at the end of this thread.
Russ, NCNE
<< <i>They must be wrong. eBay is loaded with fresh unopened sets.
Russ, NCNE >>
"Senorita HepKitty"
"I want a real cool Kitty from Hepcat City, to stay in step with me" - Bill Carter
<< <i>They must be wrong. eBay is loaded with fresh unopened sets.
Russ, NCNE >>
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
There are hidden treasures in some of these sets. Certainly a cherrypicker's dream. Just buying them and holding them for purposes of profiting at a later date might be great, but if you or anyone you know, has an eagle eye, I would search out those GEMS/Keys and profit from them, piece by piece on a continuum, ...not pack by pack or as a "WHOLE SET", later. To me, that is limiting your profitablity. I know we all don't have lots of time for things, but this is what makes Numismatics such a unique passion for many of us... TO FIND THE LOST TREASURE.
Even as Russ makes a comment that negates the rarity of sets, he is one of the CHERRYPICKERS from those sets on ebay, and he will smile reading this, cuz he knows it's true. How can you best profit ? Ask yourself that. Who cares if the set is broken up if you have a coin worth several hundred by itself ? There is no glory in the other coins surrounding it. The value is in that ONE. So search , my friend, rather than just stash it til later. Make your money do it's thing. That's why the mint sells it to you at a premium as well as dealers.
<< <i>Interesting read.... however, instead of hoarding or building these sets ,consider :
There are hidden treasures in some of these sets. Certainly a cherrypicker's dream. Just buying them and holding them for purposes of profiting at a later date might be great, but if you or anyone you know, has an eagle eye, I would search out those GEMS/Keys and profit from them, piece by piece on a continuum, ...not pack by pack or as a "WHOLE SET", later. To me, that is limiting your profitablity. I know we all don't have lots of time for things, but this is what makes Numismatics such a unique passion for many of us... TO FIND THE LOST TREASURE.
Even as Russ makes a comment that negates the rarity of sets, he is one of the CHERRYPICKERS from those sets on ebay, and he will smile reading this, cuz he knows it's true. How can you best profit ? Ask yourself that. Who cares if the set is broken up if you have a coin worth several hundred by itself ? There is no glory in the other coins surrounding it. The value is in that ONE. So search , my friend, rather than just stash it til later. Make your money do it's thing. That's why the mint sells it to you at a premium as well as dealers. >>
If you save only the gems and varieties it takes up less room as well. There's a lot of
stuff in the sets that will surprise you. Just when you think you've seen everything there
will be something new.
What is left over is the cream, aka the cherries. Enough of these have been acquired to enable me to put together date sets (i.e. 1962 Proof set with 5 CAM coins or a 1965 SMS set with 5 CAM coins), or Capital holders with a complete set (i.e. 1950-1975 CAM/DCAM Proof and SMS Lincolns) or to have nice single coins. These "cherries" are the coins (be they in year sets, series sets or singles) that I hope will increase in value and one day provide me with a profit that I can show to my wife and say: "See, I told you I was not wasting money buying coins, aren't you proud of me".
I've used that same line with my wife......
About a year after I purchased them...I looked at them closely and discovered 5 cameo & deep cameo Franklins and several cameo dimes. What a pleasant suprise.