Question about a proof set
HillCountryDuchess
Posts: 2 ✭
I inherited an 1885 6 coin gold proof set, graded MS65. I remember being told at one point that the value of it was somewhere right around $750k, but was recently told that it was closer to $475k. This is quite a discrepancy in pricing. I realize that they are only worth what someone is willing to pay, but I am just not sure where to turn to get a semi solid idea on the value. Any help would be very appreciated!!
PS, I hope this doesn't violate any rules, if so, my apology in advance.
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Comments
proof coins do not grade MS65 - follow the links to COINFACTS and see what they have been selling for.
http://www.pcgscoinfacts.com/
Welcome.
Is the proof set certified and encapsulated by PCGS or are they "raw" (i.e. in a 2"x2" holder)?
If they are PCGS coins you can get an idea of the RETAIL price here. You wouldn't be able to sell them at retail.
OK, here is what the PCGS price guide for retail value currently states for 1885 gold coins (are your coins graded by PCGS?):
$1 in MS65 is $1,500 and in PR65 is $11,000
$2 1/2 in MS65 is $32,500 and in PR65 is $45,000
$3 in MS65 is $27,500 and in PR65 is $34,000
$5 in MS65 is $9,500 and in PR65 is $44,500
$10 in MS65 is $27,500 and in PR65 is $30,000
$20 in MS65 is $65,000 (for an 1885-S) and in PR65 is $120,000
Keep in mind these are retail prices and to liquidate a collection you might expect a 30% or more reduction. Also these are for PCGS graded coins so if not in PCGS holders you would need to learn whether they would cross.
Accordingly the high end value at retail for a mint state PCGS graded MS65 6 coin gold type set it would total $163,500 and for the same set in Proof PCGS graded PR65 it would total $284,500.
Before relying on the above though go back and check the price guide yourself as I did not go back and double check. Also keep in mind that there may be other price guides that would give different results including CoinWorld's Trends and the Blue and Gray Sheets. The Red Book is another source. Another way to value your set would be to check auction results which are also available on the PCGS website, A further caveat is that you may have mint state coins that come from a specific mint that might be of higher value although all proof coins come only from the Philadelphia Mint. It is also possible that your coins are under graded which if so could result in astronomically higher values. (Likewise coins could be over graded with diminished values.) Also if you have been following this forum you will see that getting green or gold CAC stickers, or "beans" as they are called, can make a difference in value (just use the search feature to locate those threads.)
If this is real, I am sure I'm not the only one here who would enjoy some photographs of these coins!
Insert witicism here. [ xxx ]
@HillCountryDuchess...Welcome aboard..... This forum is an amazing resource for coin identification, evaluation and values....However, photographs really are necessary for definitive help. Cheers, RickO
Updates from the OP?
And as always........................never clean a coin in any way!!!
If you are keeping them don't be concerned with the value at this time
Was it the now deceased who estimated the value at $750,000? Is the $475,000 figure being suggested by the executor of the Estate? If you are not the only heir it may behove you to get a lawyer involved to represent your interests. It would be unfortunate if the estate assets were to be allocated between the heirs based upon erroneous valuations.
You'll get more help with more details. Do you have images? Receipts? Written appraisals? Are they "raw" (not graded by a professional grading service) or "slabbed" (graded and encapsulated by a grading service)? If slabbed, what service? If slabbed, what certification numbers? If you want help, you need to provide meaningful assistance.
In honor of the memory of Cpl. Michael E. Thompson
Sorry, I no longer believe in the tooth fairy.
I question the veracity of this thread and am amazed to see how many have bitten the bait.
I think it at least as likely to be a fake as to be real, but it didn't cost me anything to attempt to help.
In honor of the memory of Cpl. Michael E. Thompson
.....
Perhaps, but the underlying issue - how to value inherited coins - is hypothetically of merit to others regardless.
I will have to get pics when I am at my safe deposit box on Thursday. Thank you for all the feedback!
Would be a treat to see photographs of the coins.
Living vicariously, enjoying the good fortunes of others, is fun. And it is free!!!
Great... we have had a reply from the OP.... and we look forward to pictures.....and hopefully a more detailed description.... Cheers, RickO
I am not sure how it works for gold Proof sets from this era, but for the sets that run from the Cent to the Half Dollar or silver dollar, if one was minted, original sets that have been together since they were sold by the mint are worth more than assembled sets. How can you tell? The toning on the silver coins is very similar.
Original Proof sets in high grade sell for more as a unit than the value of the individual coins, sometimes a lot more. Gold coins tone over time because of the copper they contain. My opinion that an original gold set would sell for a huge premium.
Looking forward to the pics!
So Thursday was now 4 days ago. Are we ready to call this is a troll yet?
Sometimes life gets in the way.... Could be the SDB visit did not happen... Cheers, RickO
Hoping you are right as it would be of interest to at least learn whether the coins grade MS or PF and by which, if any, grading service.
So here I go with the necro-post .... this was trollsville I guess huh
Insert witicism here. [ xxx ]