Are the 2005 Proof sets @ 22.95 a good buy?

joefro · May 25, 2005 2:32AM

I'm a new collector and am thinking about purchasing this proof set. After all, its the only year they're making 5 of the coins... right? Does it not matter since they're making so many? Just wondering what some of the more experienced collectors think of this. I know they aren't as good of a buy as they used to be.. but are they still worth it?

Thanks,

Joe

Bochiman · May 25, 2005 2:38AM

Depends....is it for you? Will it fit what you want? Will $23 hurt your budget?

There are many on the board who buy them yearly and like them. Some buy more than 1 and "invest". Some of the recent issues have increased very quickly....others (year 2000) have not.
Some on the board hate anything from the USMint or that is modern and will tell you it is worthless (a lot of Proof set/Mint set issues rose after issue and then tanked over the years....go buy a 1968 proof set...about $10 for a 37 year old set......).

Personally, I bought ~5 (1 for me, 1 for my son, 1 for my mother, 1 for my uncle, and an extra 1...just in case they rise more.). But, $23 will not nuke my collecting budget

nankraut · May 25, 2005 2:41AM

What Bochiman said:

BillJones · May 25, 2005 2:45AM

It's a crap shoot.

Some years you buy Proof sets and make money. Others years you lose. I keep one set a year as a collector and sell the rest as a dealer.

I'll tell you this. Historically many (but not all) Proof sets from the '60s to the '90s BEFORE the state quarter program were losers. Many are not even worth the original issue price. Add to that sets that "go bad" (tone) for no good reason, and it only gets worse.

Buy modern Proof sets for the fun of it. Don't think that they are a great investment. The State Quarter sets might be an exception, but overall the collector interest drops off on these coins once they get some age on them.

cladking · May 25, 2005 2:47AM

It's the only price at which the mint sells them.

This will be the only year for the two nickels also making seven unique type coins in the set. Some
would argue that this will be the only year for all of the 2005 issues.

Historically mint product went up after issue until they were two or three years old and then started
going down until they approached face value. This trend seems to have ended in 1995 which perhaps
not coincidentally is the same year the coin market bottomed out. Since this time they've mostly all
held their values or increased. Time will tell whether this is a medium term trend or a long term trend.

lonelyp · May 25, 2005 2:48AM

I admit it. I am prejudiced....against stupid people!

DONT OPRESS ME!

I bought 10 hoping they go up like the 99 set did. Now I'm waiting for the SILVER proof set to come out.

You saw him repressing me didn't you?
COME AND SEE THE VIOLENCE INHERENT IN THE SYSTEM... HELP.. HELP I'M BEING REPRESSED!!!!
pz

brendanlam · May 25, 2005 2:48AM

yeah, it's depend on what you like, I bought 20sets already. whether you like it or not. invest in this coin, better then put money in the bank with very low interest. that's my opinion. if you lucky enough like 2004 proof, you might have double within a year.

fishcooker · May 25, 2005 2:49AM

If you are buying a set for the enjoyment of the coins, I suggest waiting for the Silver set (unless you can afford both). The beauty of the silver proofs is far better than the clads.

BillJones · May 25, 2005 2:54AM

Yes, I love the beauty of the silve sets too. But I've lost money on a couple of them that now sell for less than the issue price, while the price of some of the clad sets like, 2004, have gone like gang busters.

I guess there is no accounting for taste.

The only reason why I collect the clad sets is to keep up my collection of Proof sets that are made from the "in circulation" metals. Otherwise, I think that they are far less attractive.

291fifth · May 25, 2005 3:32AM

If you are looking to speculate in them...probably not. With last year's set going for much more than issue price you can be nearly certain that the number ordered this year will rise sharply. This pattern has been seen many time on mint issued products.

topstuf · May 25, 2005 3:43AM

Low mintage years cause carelessness in the workplace.

Just look at wot happens every time there's a really low order level.

They forget the MINTMARKS the next year.

joefro · May 25, 2005 7:55AM

Anyone know the mintage on the 2005 proof sets? I know the WN sets are 75,000. Are the proof set populations variable from year to year? Just trying to figure out which is a better buy, the proof set or Westward Nickel set. Thanks

Joe

Edited for spelling

carl · May 25, 2005 11:54AM

I buy a bunch every year and give them away for Christmas Presents. It's the type of gift that I hope they won't spend or sell and something to remember me by. I keep several for myself. For the price it's not a bad deal considering it's from our government and you know how they are with money.

brendanlam · May 26, 2005 3:53PM

yeah, it's really hard to tell which new coin you should buy. it depend on ur taste, if you want to invest in the coin. like everyone said buy the coin that have lowest mintage, but for proof or silver set, you have to try for luck buy all the new coming set. if you lucky enough like 1999 and
2004 proof set then get alot of profit; if not, then have to wait for couple year getting few buck out of it or lose some from it.

the best way is wait couple day after it sold out to find out the mintage, then buy it back from other person or dealer , of course the price have to be higher than normal couple bucks, but it safe. because you know it will keep going up. this is what i'm thinking.

if you want to have money in easy way, then it has to be a risk.

fishcooker · May 27, 2005 3:19AM

FWIW, the full Silver proof set will be available June 7th.

And, you have to be careful with the wait until they are sold out approach. Sometimes, products magically come back from the dead. Sometimes more than once!

Are the 2005 Proof sets @ 22.95 a good buy?

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