Old silver proof sets -- prices still lagging

basestealer · January 25, 2007 5:40AM

Does anyone else think the 50's and 60's proof sets that come in the manilla flat pack envelopes are a steal? They've been a steal for 40 years now, so maybe they will never appreciate, I dunno. I still can't imagine why they're so cheap.

NowhereMan · January 25, 2007 5:44AM

Sometimes when I'm at a show, and I'm done looking for whatever I'm looking for, I'll go sit and go though a stack of these envelopes. The VAST majority of the ones I find are so beat up that the low price guide prices are probably correct. The mylar provides so little protection, and in my experience the coins are usually worse for the wear. Really gemmy ones probably would command a substantial premium. Just my thoughts...

Rex

EricSan · January 25, 2007 5:49AM

I have been surprised by the low prices on these and on the uncirculated mint sets as well. But as I look at more and more of them, I find exactly the same thing: what is out there is pretty well picked over and 99% of them seem to have not-so-small problems. Pick up PR-65 set of those from the 60s (not even DCAMs) and we are talking 2-3 orders of magnitude difference in price...

LanLord · January 25, 2007 5:56AM

Yes I think they are a steal and I will try to pick up 1955 - 1959 as much as I can when I'm done with my purposeful shopping.

If I find a nice looking 1960 - 1970 I will pick those up too just to add to the "boat anchor".

basestealer · January 25, 2007 6:02AM

The ones I am seeing the envelopes are still "sealed". I assume they weren't opened and then resealed. Better yet, a guy on ebay recently sold a large lot of several sets still in the original US shipping box, sealed with the postmark. I have a proof set for every year since I was born--the good news is I can add to my collection relatively cheaply, but the bad news is I don't know when this collection will ever incrase. Some of these sets, I mean I don't care how bad they're beat up, are selling for a few pennies over melt!

shirohniichan · January 25, 2007 6:07AM

If you think the US sets are bad, check out Canadian prooflike sets from the 1960's until recently. Even the cased specimen dollars from 1970 until 1980 are dirt cheap for most years (barring errors [e.g. double yoke 1974 dollar] and special packaging). You definitely don't want to buy dime-a-dozen common items if you're looking for appreciation.

basestealer · January 25, 2007 6:15AM

Speaking of the Canadian issues... 2 years ago I bought 10 rolls of BU 1964 Canadian silver dollars for $50 a roll. I sold them a few months later for $75 a roll--I was happy. Go on ebay now and you can't touch them for less than $175-$200. Silver spot pushed the price up some of the way, but 3x and 4x previous value has to be numismatics as well.

shirohniichan · January 25, 2007 6:26AM

<< <i>Speaking of the Canadian issues... 2 years ago I bought 10 rolls of BU 1964 Canadian silver dollars for $50 a roll. I sold them a few months later for $75 a roll--I was happy. Go on ebay now and you can't touch them for less than $175-$200. Silver spot pushed the price up some of the way, but 3x and 4x previous value has to be numismatics as well. >>

Dang, maybe I'd better look at selling my bank bag (100 coins) of 1960 dollars. I think I bought it for $350 a few years ago.

The Royal Canadian Mint had booming business until they killed their cash cow in 1965. Speculation on Canadian coins went through the roof, with people buying not only numismatic sets but also bags and rolls of business strikes. The RCM announced a strict limit on 1965 PL sets and filled its quota on the first day of orders. Speculators were all over them like they are now on US Mint bullion coins. The RCM decided to fill all orders instead of sticking to their previously published "strict limit." The bottom fell out of the market and took until the 1980's bullion boom to bring collectors back.

Now they are coming out with as many different versions of the same coins as they can think up, and methinks they may kill the cow again.

EricSan · January 25, 2007 6:26AM

Be careful with those "sealed" sets - many of them (especially on the 'bay) are picked through proof sets sealed in newly printed envelopes to drive up the prices...

291fifth · January 25, 2007 6:27AM

No. They have been dogs for decades and are likely to stay that way.

Old silver proof sets -- prices still lagging

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