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Mint Sets from 1999
nightwalker
Posts: 1
I know there is probably something similar somewhere on this forum to the questions I'm about to ask, but nothing seems to address my questions exactly, so I hope you guys can help me. (And don't flame a noob too much).
I would not call myself a coin collector, but I do own a few coins and sets that I want to take care of. I recently decided to purchase mint sets from eBay from 1999 to 2005. I ordered 2006 directly from the US Mint, and I have the 2007 set "on order" with their yearly program. (1999 was a significant year for me.)
First, something I was unaware of until recently... how do I know for sure that the coins in the sets I received were not replaced and re-sealed? They all look legitimately sealed to me, but I can't say I examined each and every coin.
Second, what is the minimum "average" grade that any random mint set coin would achieve? Are mint sets the primary source of non-proof, non-circulated, graded coins? (coins worth grading)
Third, is my understanding correct that if I submit a minimum of 5 coins for grading, under the US Modern service type, it costs $14 PER COIN to grade? If this is the case, is it really feasible for a casual collector to have coins certified? The reason I ask is that I've read, in other threads, about Father/Son State Quarter collections, and they have them graded... but it seems like a pretty expensive hobby. ($700 for grading 50 coins, alone).
The *certified* grade itself isn't all that important to me. I guess I am just interested in knowing what grade of coins I have. I am also interested in keeping them that way, so the encapsulation method they use also appeals to me. The encapsulation makes it easy to see each coin and all of the relevant information.
Thanks for the help.
I would not call myself a coin collector, but I do own a few coins and sets that I want to take care of. I recently decided to purchase mint sets from eBay from 1999 to 2005. I ordered 2006 directly from the US Mint, and I have the 2007 set "on order" with their yearly program. (1999 was a significant year for me.)
First, something I was unaware of until recently... how do I know for sure that the coins in the sets I received were not replaced and re-sealed? They all look legitimately sealed to me, but I can't say I examined each and every coin.
Second, what is the minimum "average" grade that any random mint set coin would achieve? Are mint sets the primary source of non-proof, non-circulated, graded coins? (coins worth grading)
Third, is my understanding correct that if I submit a minimum of 5 coins for grading, under the US Modern service type, it costs $14 PER COIN to grade? If this is the case, is it really feasible for a casual collector to have coins certified? The reason I ask is that I've read, in other threads, about Father/Son State Quarter collections, and they have them graded... but it seems like a pretty expensive hobby. ($700 for grading 50 coins, alone).
The *certified* grade itself isn't all that important to me. I guess I am just interested in knowing what grade of coins I have. I am also interested in keeping them that way, so the encapsulation method they use also appeals to me. The encapsulation makes it easy to see each coin and all of the relevant information.
Thanks for the help.
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Comments
Tim
I bought most of my Silver Proof mint sets on eBay. I found some old guy who claimed he collected coins with his wife, who had just died and he couldn't bear to look at them. I got them for a steal and I think I was probably the first person to see them on ebay. I got them at like 6 days and 23 hours. I was almost convinced it was a hard luck scam story because the price was too good to be true. But they showed up in perfect condition and very much intact.
I personally wouldn't break up a mint set for grading unless I was doing a registry set. Some coins like MS68 Sacagaweas go for moon money. If I had an older set that I was sure contained a 68 or 69 Sac you can better believe I'd be looking for a hammer.
John
Never view my other linked pages. They aren't coin related.
I wouldn't worry too much about counterfeit mint sets since they just aren't seen. You
should take a look at the sets and see if there are some possible shenanigans going on,
but the most you are likely to see is where a coin is missing because a previous owner
snipped it out. It usually isn't very important since the value of the coins will still exceed
the value of the set but on some dates like the '99 there is a large premium for an intact
set.
Mint set quality and roll quality vary independently from year to year. The problems with
individual dates also vary from strike and die quality or the degree of marking. There is no
way to know where to find the finest coins eah year without looking. Generally the finest
coins will appear in the mint sets and almost invariably the mint set coins will have better
strikes.
First, something I was unaware of until recently... how do I know for sure that the coins in the sets I received were not replaced and re-sealed? They all look legitimately sealed to me, but I can't say I examined each and every coin.
I can't really answer this one. I don't know of any way to reseal the cello wrappers.
Second, what is the minimum "average" grade that any random mint set coin would achieve? Are mint sets the primary source of non-proof, non-circulated, graded coins? (coins worth grading)
I don't believe this one can really be answered. What I can state is that certain year ranges have similar characteristics. I can make some generalizations about 1999-2006 mint sets. Some years D minted coins are rough, some years it's the P minted coins. I'd expect 05-06 sets to get higher grades because these are SMS sets, but I've not submitted any myself. I'd expect lowest grades for the 99 set based on my submissions. Since I submit mostly Lincolns, I won't speculate much on the other denominations. I don't need to search many sets for MS68 cents, 1999 would be the exception. Denver struck have less damage than Philadelphia. 02-03 were the two best years for business strikes. I wouldn't expect too many grades less than MS66, maybe an average grade of MS67 for 99-04. For the rest of the denominations, I got a couple MS68 dimes, a couple MS66 nickels, a couple MS67 quarters out of ten sets or so. I don't remember what grades I got for the halfs and dollars I submitted for those years.
Third, is my understanding correct that if I submit a minimum of 5 coins for grading, under the US Modern service type, it costs $14 PER COIN to grade? If this is the case, is it really feasible for a casual collector to have coins certified? The reason I ask is that I've read, in other threads, about Father/Son State Quarter collections, and they have them graded... but it seems like a pretty expensive hobby. ($700 for grading 50 coins, alone).
It can get very expensive for modern issues. I definitely spend more on submissions than I do on purchases of mint sets. That's not true for modern commems though.
David
An authorized PCGS dealer, and a contributor to the Red Book.