2018 Proof Set Sales
dennis1219
Posts: 267 ✭✭✭
Hard not to notice the poor sales figures of this years Proof Set. I personally don’t collect them, but does this say anything about the state of numismatics as a whole?
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Proof sets have been dropping dramatically over the last 5 years. It MIGHT say something about the state of numismatics, but it is hard to be sure. It could simply reflect a change in collecting tastes. It is hard to get reliable numbers on the actual number of collectors. The collector base may be dropping as there is not a lot of youth in the hobby, but it is hard to really assess the numbers.
I wouldn't look at proof/mint sets alone as a definitive indicator of anything. You have to consider the other "widget" markets as well, which are also currently in the dumper, by the way.
So many people today do not use change. Debit and credit cards have taken over. Hard to increase collector numbers when they are not accustom to using money.
bob
Silver proof sets may be a better indicator. I've seen too many older people trying to sell modern proof or mint sets to a dealer. It ain't pretty. At least silver is silver and you can fall back on melt.
Yes, a lot of Proof sets from the '70s and '80s don't sell for much over face, even if the coins, holders and covers are nice. I buy the silver Proof set each year for the same reason. It gives me an annual set, and there is some silver in it.
When I see these sivler Proof coins in slabs, they are really quite attractive. The coins have a dramatic cameo contrast on both sides, whcih was very hard to find years ago. They show up every month in our monthly auctions because one member seems to buy and sell them on a regular basis.
Will be the HOTTEST Coin this year, Next to the 2018 S Reverse Proof Set& the 2018-W 1 OZ Palladium Proof American Eagle BOTH due out AFTER the proof coin!
Will there be a limit on how many you can buy?
How many will they produce?
Most Important $$$$$ How Much? $$$$$
https://catalog.usmint.gov/american-eagle-2018-one-ounce-silver-proof-coin-18EM.html?cgid=2018-product-schedule
I'm enrolled in the proof sets subscription program but am not impressed with these at all. I almost cancelled those last year but forgot. I also like the silver proof sets, but this one doesn't seem worth holding onto.
I think you're on to something Bob. Cash used to be king. Now it's just electronic.
The "real" drop-off in proof set sales is hard to gauge because the Mint's initial asking price is very much higher than fifty years ago.
Back when those 2017 Congratulation Sets were on fire at the Mint I was lucky to snag 15. I went right back to order another group but they were gone...... POOF !
WELL .... when they came in there was a Coin Show going on and I decide to go flip them onto any Dealer that would buy them. Only 1 Dealer expressed any interest so I took his $75 offer as a lesson on flipping "Hot" Modern Junk . I made around $300 on a 3 minute sellout item and havent bothered to repeat the process. I have a better time taking a nap in my off time.
Sinking money into anything from the US Mints Modern Junk Fest is a total waste of time and money. If you like something buy it off the bay.......... from a Flopper that hasn't caught on to the realities of Flipping being a thing of the past.
That is especially true for the sets that don't have any silver in them.
As usual I bought my silver set from my local dealer. Unfortunately I waited too long and got there after the sets had been picked over. The coins weren't awful, but I have had better years.
At least the presidential coins were not part of the set. I can't tell you how many times I have seen them spotted and unattractive. The sad part is the stand alone presidential sets, which were barely worth face value, are often the worst coins in the set because of spotting problems. Still they are part of the whole set, and as a collctor, you want them to be nice. .
I agree with all of this. As a young collector, I vividly recall my disappointment when the mint took the silver out of the proofs. As it turned out, my family visited the mint in Denver in 1965. I desperately wanted to buy a proof set but all that was available were the carpy mint sets. (And yes, I know that the sets were made in Philly). Issue price for a 1964 proof set was $2.10 - a little more than double face value. The 1965 SMS sets were issued at $4 - double the old price for carp.
Since then, sales of proof sets just didn't have the charm of the "good old fashioned" sets. Even though sales momentum continued for a long time, I never bought another set from the mint. By the time they decided to make silver sets again in 1992, the momentum was gone.
The mint did it to themselves and the customers paid the price for their failure. If they would only have continued producing the silver proof sets for collectors, they stood a chance at success.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
"It could simply reflect a change in collecting tastes."
Maybe. I haven't bought any proof sets from the Mint since the old blue sets circa 1968-1972. I suspect lots of other former purchasers were turned off when the no longer 90% silver in them. I can remember when those blue sets were selling for up to $25 on the after market. I still do buy the proof and Mint sets that have special finishes, like the Coin and Currency and reverse proofs tho, mainly for my Sac dollar set.
For me the dullest and ugliest set was the 1971. That was the first year that didn’t have any silver coin in it, and it was before the mint made an effort to produce cameo Proof coins. The set just laid there. It was dull lifeless.
I was not lucky enough to buy 1, I guess I missed that sale. But I just looked this guy is selling his 300 sets at $135.00 each. I don't know if he is selling them but I guess he was the one who snagged them all. I would of like to buy 1 at $54.95. I don't know who I feel sorry more you who made $300.00 or me who did not even get one the waist $54,95 of my hard earned money. I guess me for not waisting my money on the Mint coins.
https://www.ebay.com/itm/2017-S-PROOF-SILVER-EAGLE-CONGRATULATIONS-SET-17RF/142659631584?hash=item21372d39e0:g:~D4AAOSwW9RadgjL#viTabs_0
Guess people realize that they are NOTa good investment Say in the last few years does the Coin Dealer Newsletter list prices for sets above the U.S.Mints issued prices or below?
My CPG of Winter 2018
show prices up to 2005 only.
So if wanted is it just best to purchase on secondary market/ebay etc.
I do think they represent a barometer of sorts. And the interest level at these levels probably IMO are even higher than they might be. Dealers on this site hate this said, but grass roots interest in coins is sliding away notwithstanding the occasional to rare young numismatist pictured at a show. I won't drill on the countless anecdotes of declined interest amongst younger kids...
Well, just Love coins, period.
I stopped buying mint and proof sets ten years ago.... I have a cardboard storage box of sets that I have not opened in those ensuing ten years...I believe there was a mint set (Denver I think) with the MM abraded off on the cent... I remember I did get that set (it is faintly visible where it was removed)... but have never seen any value attached to that coin. So, mostly junk sets if I pull out the silver... Cheers, RickO
I sold off my modern silver sets during that last $40+ silver boom and have never bought another. I think the last Mint proof set I bought was in 2009. Knowing I can buy them cheaper later just took all interest away from me. I do have sets from 52-64.
Agreed. However, the '71 proof sets were a goldmine for varieties - three DDO cents, a no S nickel, and a DDO half. Plus, if you found the rare high grade dcam, you could make money. (Like my avatar - found in a set I paid less than $10 for - PCGS graded it PR69DCAM).
I'd wager I have looked at several thousand 1971 sets - found a couple DDO cents, Dcam nickels, and the Dcam quarter.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!