Question about the value of early double mint sets

toyz4geo · December 14, 2014 5:54AM

I am aware that the modern proof and mint sets, with a few exceptions, hold little interest for most. What about the double mint sets from 1947 to 1958? I know that the grey sheet pricing jumped up a couple of years ago, but do those values still hold up today? I am looking at several early sets between 1949 and 1958. I can get them probably around 60% of greysheet bid.......which is still higher than what I paid for the sets I currently have. Granted, I bought them before the prices spiked. Since it seems a lot of the market is a bit soft these days, is there much of a downside to a purchase 60% of greysheet? These are original sets. Any thoughts would be appreciated.
Thanks,
George

segoja · December 14, 2014 6:01AM

At 60% below bid, there is not a whole lot I wouldn't buy across the board.

If you are being offered sets that are truly original for bid -60% there should be NO hesitation on your part. I would suspect at that level they are put together, and as such would NOT be a good buy.

segoja · December 14, 2014 6:04AM

At 60% below bid, there is not a whole lot I wouldn't buy across the board.

If you are being offered sets that are truly original for bid -60% there should be NO hesitation on your part. I would suspect at that level they are put together, and as such would NOT be a good buy.

segoja · December 14, 2014 6:05AM

At 60% below bid, there is not a whole lot I wouldn't buy across the board.

If you are being offered sets that are truly original for bid -60% there should be NO hesitation on your part. I would suspect at that level they are put together, and as such would NOT be a good buy.

Walkerguy21D · December 14, 2014 6:06AM

Are they in the original mint issued holders, and are the surfaces attractive?

If so, then that is probably a good deal....sets in Capitol holders, or even original sets in which the coins appear
to have 'environmental damage', I wouldn't touch.

tincup · December 14, 2014 6:08AM

Ummm.... surely you jest. I would think 60% back of bid for original double mint sets would tell be there really is a Santa Clause....

Assuming of course they are really original.

segoja · December 14, 2014 6:08AM

sorry for the triple post.....kept telling me the website host was down

tincup · December 14, 2014 6:09AM

Ummm.... surely you jest. I would think 60% back of bid for original double mint sets would tell be there really is a Santa Clause....

Assuming of course they are really original, in original holders, etc.

DollarAfterDollar · December 14, 2014 8:44AM

They not only need to be original but also attractively toned. There are many sets with coins with ugly toning or are put together. The early sets are often found original but butt ugly IMO.

Scottsman Auction (last auction) had over 100 sets but few pictures. I think they were original and looked attractive so they are out there.

DaveWcoins · December 14, 2014 9:21AM

Actually, I need to chime in here.

I very recently sold a collection of coins on behalf of an estate. Included were several double mint sets. All were decent to nice, and completely original.

I was shocked to find out that the Greysheet bids on these were so out of whack. I believe that the real, true market value of these coins is 50% to 60% of bid.

Now -- you said that you were offered these sets at 60% off bid. This would be 40% OF bid. If that is what you meant, then they should be a very good deal.

I would say that 60%-65% OF bid (which is = to 35% to 40% OFF bid) is the current retail price of these sets among knowledgeable buyers and sellers.

291fifth · December 14, 2014 10:19AM

Tread cautiously as you may be getting into a market that won't admit to being dead. There must be a reason why they now sell for such a low percentage of bid. Do your homework on this market before you commit any money.

rainbowroosie · December 14, 2014 10:29AM

Really colorful original sets still go for multiples of bid. However most are NOT original. They are poo poo.

toyz4geo · December 14, 2014 10:30AM

<< <i>Actually, I need to chime in here.

I very recently sold a collection of coins on behalf of an estate. Included were several double mint sets. All were decent to nice, and completely original.

I was shocked to find out that the Greysheet bids on these were so out of whack. I believe that the real, true market value of these coins is 50% to 60% of bid.

Now -- you said that you were offered these sets at 60% off bid. This would be 40% OF bid. If that is what you meant, then they should be a very good deal.

I would say that 60%-65% OF bid (which is = to 35% to 40% OFF bid) is the current retail price of these sets among knowledgeable buyers and sellers. >>

I retread my original post and did have 60% behind greysheet bid instead of 60% of greysheet bid. I edited it to reflect the actual percentage. That said, being 60% OF bid, I guess I would be pretty much at retail for the sets. Best to take another closer look at them. They are in original card boards, inner envelopes, and look to be 95% original coins, given the toning. For some reason, the D mint coins just do not pop on the earlier sets. The sets are 1949, 1953-1958, 7 sets total.
Thanks for everyone's insight.
George

georgiacop50 · December 14, 2014 12:01PM

No offense intended but if you have to ask this question--you probably should stick to a less esoteric area. You have to know what these should look like. There are so many put together sets out there... beware.

BillJones · December 14, 2014 12:37PM

To be worth the Gray Sheet numbers those double mint sets must contain the ORIGINAL coins or coins that look like them that will fool the experts. If there are obviously substitute coins in the set, you have a fraction of that value. In that case the discount under Gray Sheet means nothing. It is rat poison for your pocketbook because there is a HUGE premium between the value of run of the mill Mint State coins and original mint sets. Be very careful when you buy these sets.

DenverDave · December 14, 2014 12:37PM

I just sold 50 original sets to a dealer @ Bid, I was surprised at his offer and took the deal...

I'm sure he was not just being nice and the original sets are in demand...

ProofArtworkonCircs · December 14, 2014 1:09PM

I remember buying the 1948 and 1949 sets directly from the mint. The quality was not too good. Franklin's face had deep reeding cuts from another coin hitting it.
The dealers in the Numismatist were advertising "buy from us, our coins are better quality".

Question about the value of early double mint sets

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