Question about modern certified proof coins and collecting them.

BulletBiter

If someone were to compile a certified modern proof set(s), say 1968 to present. What would a reasonable cost be per year? I know that there are some years or types that are certainly more expensive then others. From the little bit that I looked, it seems that for the majority of the years for the typical 5 or 6 coin years the cost would run about $75 or between $12.50 and $15 per coin. You can go the longer route and pick them up individually off the bay or some dealers sites for cheap as well. Might take you a while longer, but could certainly be well worth your time. As an example, I picked up a proof silver quarter from 1997 for just over $8 a couple of weeks ago. One that I have seen in the same grade with BIN’s of over $35. As mentioned in a few other posts here recently, the thrill of the hunt is a factor if you like that kind of thing.

Anyway, just curious what others thoughts were. Or is anyone else doing anything else like this? Maybe just by denomination?

kiyote

I'm doing it by quarters now, and it's easy to get them at a good price.. just bid on Ebay until one at the right price comes along.

BillJones

Unless you are buying ultra cameo Proof coins with numbers like PR-68 or higher on them, it's money down the poop shoot IMO. These coins you would be buying are the "mistakes" that dealers sent in to get high grades on them. These losers are sold at "bargain prices," but they are mostly roach motel investments. You will never check out with your original purchase prices unless seismic change comes to the run-of-the-mill modern Proof coin market. (AND don't hold your breath on that one.)

There was dealer here in Tampa who used to buy up this stuff cheap, put a big price on it and sell it “junk box” style with a sign that read, “any coin half price.” The stuff just has no future. If you want to collect it for enjoyment, go ahead, but a better buy would be to purchase carefully selected Proof sets in the original mint packaging for a fraction of the prices you would be paying for this certified material.

CoinHusker

<< <i>Unless you are buying ultra cameo Proof coins with numbers like PR-68 or higher on them, it's money down the poop shoot IMO. These coins you would be buying are the "mistakes" that dealers sent in to get high grades on them. These losers are sold at "bargain prices," but they are mostly roach motel investments. You will never check out with your original purchase prices unless seismic change comes to the run-of-the-mill modern Proof coin market. (AND don't hold your breath on that one.)

There was dealer here in Tampa who used to buy up this stuff cheap, put a big price on it and sell it “junk box” style with a sign that read, “any coin half price.” The stuff just has no future. If you want to collect it for enjoyment, go ahead, but a better buy would be to purchase carefully selected Proof sets in the original mint packaging for a fraction of the prices you would be paying for this certified material. >>




sage advice.

100proof1957

Not my cup of tea,but if thats what ya like,by all means.

However

I dont think i would try to get em slabbed my self,way too expensive

couple sets like the 99 silver and the 01 silver are gonna hurt,of course you know from 99 up they made silver and clad sets,which do ya pick ? both ?

all of my stuff is pre 1960,except my Sons set which is a 1991,that set cost me 50 bucks on Teletade
slabbed,PCGS PR69 DCAM,so somebody spent a hundred bucks or so on the set and got less than 50 back.

Pick your spots !

100proof1957

FWIW

if your goin back to 68,ya may as well go back to 64 so its all modern

some years you may to settle for lesser grades

im working on an 1857 Circ set,right now the grades range from F12 to Au58,more about being complete on this set.

BulletBiter

Well, let me explain what started all of this. I have 2 daughters and when they were first born I purchased both a proof set and mint set for each of them. Until about 6 months ago that’s all I had done. Then in looking through some stuff I happen to have the ASE proofs that I had bought originally from the mint for both of their birth years. So, I put them with their proof and mint sets. Got to thinking about it and thought it would be sort of neat to get them a certified proof set for their birth years as well. When I started looking I was sort of surprised at how cheap the realized prices were for PR69DCAM’s, so to address a point you made BillJones, all ultra cameo Proofs.


So, not really what I would consider my collecting forte but a small side project that so far has turned out to be one of my least expensive ones. and fun to boot.

My main focus has been my 7070 and a grading set of Barber halves. Both of which are steady, but slow.

Thanks all for the input.

cladking

<< <i>Unless you are buying ultra cameo Proof coins with numbers like PR-68 or higher on them, it's money down the poop shoot IMO. These coins you would be buying are the "mistakes" that dealers sent in to get high grades on them. These losers are sold at "bargain prices," but they are mostly roach motel investments. You will never check out with your original purchase prices unless seismic change comes to the run-of-the-mill modern Proof coin market. (AND don't hold your breath on that one.)

There was dealer here in Tampa who used to buy up this stuff cheap, put a big price on it and sell it “junk box” style with a sign that read, “any coin half price.” The stuff just has no future. If you want to collect it for enjoyment, go ahead, but a better buy would be to purchase carefully selected Proof sets in the original mint packaging for a fraction of the prices you would be paying for this certified material. >>



I'm not sure this is true.

Certainly near poptop proofs are hardly scace or rare. Three or four million of these sets were
made each year and the attrition is not extremely high for the coins. This tends to swamp the
numbers of collectors and would keep it inundated permanently if the demand weren't to grow.
There are some good reasons to think that these won't be collected like the old proofs though.
These could well become a part of most collections simply because they are mint marked and have
no counter-part in circulation in most cases. The only way to get a '74-S quarter is from a proof set.

Most of these "mistake" coins are in the top two or three percent of production so it doesn't take
too much imagination to see coins with mintages around 100,000 come into much higher demand
even if the same coin in a slightly lower grade is much more common.

If you like these coins they really do make a pretty spectacular set. You can acquire them much
more cheaply by looking at the proof sets and buying them. Of course if you want them slabbed
you'll then spend nearly as much to slab them yourself.

Go into it with your eyes open and remember these are not the kinds of coins that dealers are
lining up to buy and so long as there are proof sets on the market most of these coins will be avail-
able in them.

Someday all this will change because the demand for intact proof sets will be higher than the supply
available and the source of this kind of coin will be mostly just a memory. The pricing structure will
change. Don't hold your breath since this could be years and years away.

Musky1011

Collect what "you" want

listen to all the good advice hear and make your own conclusions

I myself collect no cameo's proofs 1950-1964
Maybe a bad investment but so is buying a car and I have 3 of those

Jim

carl

Sounds like you just want proof and/or uncirc sets as issued by the Mint. If there are any decent coin shows in your area go to one before you start buying anything on ebay or at a coin/hobby store. At the coin shows around here there are always people selling that stuff. At the coin show I was just at last Sunday one table was full of proof sets. You would have fun, save on postage and if you bought several you may even get a better price from a decent dealer.

BillJones

Let me put it this way. Every once and a while I get "registry fever" and consider filling in some of the holes in the modern slots of my NGC type set. The goal is to get the total percentage of coins up from when it is now which is something like 60%.

I spotted a Proof quarter from the 1980s, I think 1987 but I'm not sure, that was in a green label PCGS PR-67 holder. The coin was a screaming ultra cameo with great black and white contrast on both sides, but that was not noted on the holder. It was just assigned a low ball grade IMO. The price was $10, which sounds good except when I noted that I could buy a whole Proof set from that year for less than $5. OK the quarter nice, but it would have added a whole 3 points to my registry score, and resubmitting the coin would be a waste of money.

You buy this stuff for love, nothing else. And I don't love it that much.

100proof1957

What year model are the kids ?

BulletBiter

If there are any decent coin shows in your area go to one before you start buying anything on ebay or at a coin/hobby store

Actually there is a pretty good size show this weekend that I will be at. I'll keep my eyes open. I already have the proof set and mint set from the years I’m looking for. I would agree, it would be nice to save the postage and shipping if I could.


-- I don't even want to get started in the registry game. OK, maybe a little, but thats it.


What year model are the kids ?

I have a 97' and 00' that think they are going on 87' and 90'

100proof1957

Heres what im doing for my '91 Model

every coin from that year in MS69 and PR69DCAM (i also included the WWII 91-95 coins)

Gold,Silver, Proofs, Biz strikes and Commems.

The circ strike coins in MS69 dont exist as far as i can tell so MS66-67 will have to do for me.

Another thing is this,and i havent checked it out completely.

You can fund an IRA with US Gold and Silver Eagles so ya kinda get a 2 fer !

Your never gonna sell them so why not get the tax break ?

in addition,PCGS will open up the Registry for complete year sets relativly soon !

relayer

The cost of the coin plus the cost of the slabbing

100proof1957

OK

you cant put gold or silver eagles that you already own in to an IRA

you have to buy them via a fund and it gets spendy unless ya got large dollars !