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Are Proof set from 1968 to date a dead stock
PTVETTER
Posts: 5,882 ✭✭✭✭✭
Or can some sets have gems worth breaking out for TPG?
Pat Vetter,Mercury Dime registry set,1938 Proof set registry,Pat & BJ Coins:724-325-7211
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PTVETTER
Posts: 5,882 ✭✭✭✭✭
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Never know what you may find especially if they come from a non-collector. Make sure there is not a mark on them if you try to get them slabbed because the graders will find something most of the time that you missed.
Most dealers can still sell some of these to the public at ask, retail, or a percentage over bid. Most will end up being shipped to a wholesaler for a little over bid eventually. The older sets can be harder to keep hold of since a lot fewer tend to come in.
There's more activity in proof sets at ask than there has been in many years since they sell well in some non traditional venues.
Some sets still exist in significant quantity because their price dropped only in recent times.
Most of these set have simply been "consumed" for decades. Of course there re still lots of original groupings in which can appear valuable varieties and very high grade coins. For the main part I should think submitting these for high grades is a losing proposition unless you know what you're doing.
I am amazed at how low the prices are on these set today!
Some of them are really cheap...and still sell slowly even at rock bottom prices.
Anyone who needs one already has one.
As @cladking mentioned, quality and varities are the key....... unless you can find a PR69DC in a 68-72 set, you are facing a bloodbath submitting.
The 1971 and 1972 sets are rather tough to find some denominations in 69DCAM, especially the cents and nickels.
Also, there are fairly significant varieties in the 69-72 sets that would be worth looking for.
They are as lackluster as they were in the early '80's. Very few people are demanding specific dates so they are like a commodity as much as a collectable.
They’ve tightened up a bit over the last couple months. Up until Halloween the prices were in the absolute dirt. I’m talking 73-78 sets at $3-4 a pop if you searched and waited for them. For singles, Ikes seem out of favor right now and somewhat SBAs. Kennedys are still strong, cents are doing fair. Dimes and nickels are rather hot. I deal in lots of moderns so it’s interesting to watch the fluctuations.
One positive for the set are the many doubled dies and other varieties that can sometimes be found.
Wasn't there a set in the mid '90's with an almost missing D mm....?? just barely visible mark...I seem to recall that and now hear nothing about it. Cheers, RickO
Their use as birthday/anniversary presents has fallen off and with it demand for the sets. Among active collectors they are known as market dogs to be avoided. I don't see any reason to believe the situation will change in the future.
This really sums up the situation. Collectors, like me who have one set per year, buy one at the year of issue, and that's it. I don't go for any of the fancy varieties like missing mint marks and the like, which are quite expensive.
I don't know why more new collectors ignore these sets. Given the very low prices, one would think they would take an interest in them, but they don't.
https://coinguitarpicks.com/product/1970-kennedy-half-dollar-40-silver-rare-coin/
Insert witicism here. [ xxx ]
The young me had to scrimp and save to pay for those mid-70s proof sets. Whilst it's somewhat disheartening to see that they're now worth much less - in real terms - than they were then, I have no plans to sell so it doesn't really make any difference.
Smitten with DBLCs.
The only good news I can see with the current low prices is if you have the original receipt from the mint you can sell them now and clam the capital loss against your massive bitcoin gains.
it's crackers to slip a rozzer the dropsy in snide
Back around the late 1980s and early 1990s my coin club ( now long disbanded) used to give 1971 and 1972 proof sets as attendance drawing prizes. They were considered something of a joke even then. No one wanted to win them.
I broke up about 20 proof sets or Mint sets from 1971 - 1974 this summer and sent the coins to coinstar with a bunch of wheat cents 1941 - 1958. Well, I had to keep the Ikes, they're not accepted by coinstar. Me, about $85 to the better.
I lost NOTHING except my illusions (delusions).
They are considered collectibles by the IRS - so no capital loss for tax purposes.
They require that any profits be reported, however. That is rarely an issue with these sets.
If you're willing to do the work these are easy to make money. Just bust them up and assemble rolls. Send Gems in for grading and sell the rolls. You'll make more than enough money selling rolls to pay for the raw sets and culls and the money you get for the Gems is mostly gravy.
Of course you need to time the market. You don't want to be sitting on a lot of date that crashes to its basal value. When a date crashes the roll price is unaffected for a short while.
It's too much work for me (and you can put an eye out).
been blowing these out at face value in the shop, cant give em away anymore.
I know how you feel breaks my heart for nice coins
Not true, collectibles are considered capital assets for tax purposes and gains or losses are treated the same as gains or losses on any other capital asset. The only difference is that the maximum tax rate on long term gains from the sale of collectibles is 28% vs. a maximum tax rate of 20% for most other capital assets.
I think you are thinking of the rules that apply to personal property, not capital assets.
it's crackers to slip a rozzer the dropsy in snide
To answer the OP's original question....yes, there are some that are definitely worth it.
Sadly, they aren't plentiful (which is why they are worth it).
Obviously, higher grade DCAMs, like the 1968 Kennedy in DCAM 69 makes it worth it, and there are others.
Add to that, there a few "missing mintmarks" out there that make it worth it on a few.
Not plentiful, unlikely to find, but they are out there.
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's still a solid wholesale market for singles and rolls.
This is where a lot of these sets end up. They go to make up sets and sometimes for promotions.
Most of the coins in these sets are quite pedestrian and many have been damaged over the years from improper storage and handling.
However, there are exceptional coins (high grade and/or Cameo/DCAM and/or attractively toned and/or varieties) which are worthy of being set aside, preserved and collected.
Thanks Tommy44, you are correct. Thanks.
I've never understood the logic behind collecting or investing in proof rolls. There's always going to be some friction from having the coins stacked on top of one another, and jostled as the rolls are moved from place to place. In theory this should make the coins less attractive and less valuable to the end user (the collector) when a roll is finally broken up for singles. And proof rolls will never attain the cachet that goes along with original "bank-wrapped" uncirculated rolls.
My Adolph A. Weinman signature
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If you’re building decade sets, for some years it makes sense - like 1970. Can buy a whole set for $7-8 but most of that is the half dollar and prices do fluctuate. The 70-79 decade sets of Kennedy proofs don’t usually include the 70-S so those would need to be sold as individuals. If you don’t want to worry about flipping off a bunch of individual halves, you can usually find rolls of the other denominations fairly cheap. Highly specialized use, I know, but one reason.
If you’re careful you can stack proofs with pretty much no rubbing or contact. At least nothing visible with a 40x.
I don't think many of these proof rolls are sold intact to the end user. Rather the rolls are used to make up sets like Jefferson nickels or 1970's proof quarters and sold as such.
Moderns aren't so much collected as they are consumed now days. This has been going on all along but in more recent times this is the way most proof sets (and mint sets) meet their ends. There just aren't a lot of these sets left any longer and there still isn't enough demand to save them from being assembled into rolls. They bring good money in rolls and rolls are far cheaper to ship.
A shop might sell only two or three sets of each date per year but they'll still get in as many as 25 of some and a few of the older ones. When they accumulate in stock they tend to get sold at bid or shipped to wholesalers who cut them up and disperse the coins. Directly or indirectly most will end up at the wholesalers and the wholesalers don't sell many intact sets. They buy proof rolls and proof sets and sell singles for the main part.
Some people are probably saving proof rolls but these are being sold by retailers at significant mark ups. I've never seen one of these rolls but would wager there are no Gems in them and there are more culls than "commercial grade" proof rolls. Culls are very difficult to sell and most end up in circulation. Frequently when you find a proof in circulation it will be a date whose price has recently declined. Often you can see the flaw that got it put in circulation. Between about 2% and 20% of a date will be culls in proof sets. Mint sets have much higher rates.
Last year I found a couple nice 1968-S proof sets. I submitted the 2 halves during the quarterly special. They graded PR69DCAM and PR66DCAM - I thought they were both great but when I got them back, there was a scrape on the field of one of them. I think I must of rubbed the field when I was breaking them out of the mint plastic.