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Question re: Clad Proof Sets - - any help appreciated
DBSTrader2
Posts: 3,498 ✭✭✭✭
When my kids were first born, my parents bought them each a proof set (silver sets their birth year, and then apparently clad sets thereafter), with the plan being to buy them one a year after that - - as my grandparents had done for me as a kid.
But my parents were at that age where they had become forgetful, especially during a few health crises.
Since the state quarters introduction in 1999, I have renewed the one-per-year process for them on my own. But they are missing 1994-1998 (older son) and 1996-1998 (younger). I'd like to catch them up, but am not sure what's the best way to do so - - local show, dealers, eBay, Forum members, etc - - or if it's even worth doing.
For the most part, are Clad Proof sets pretty much a "losing proposition"? I'm not into coin collecting to make a fortune or anything - - I appreciate coins for their beauty, sense of history, etc, and have collected from circulation to fill my Whitman blue folders ever since I was a kid. But are Proof sets nice to look at, but not a great investment, due to their initial mark-up from the Mint? Is there a better path to follow, like bullion SAE's or maybe a "collectible" coin like a Morgan Dollar, etc for their birthday each year? It just seems that, most every year since they were born, the original issue price is much higher than the latest guide's "dealer pays" price. It would seem like the only people making out on this are the Mint and the dealers. If I want to get my kids something both nice to look at with a historical element to it, as well as something that has SOME element of appreciation, am I better off looking elsewhere? Or will time make these Proof sets a wise choice?
Towards that end, below are the years & "issue-price" & "2008 sellers guide buyer's price" info. I was wondering if someone would be so kind as to fill in the blanks for me as far as a fair price I should expect to pay to buy the '94-'98 years, as well as explain what it was about the years listed below where the dealer buy price is actually HIGHER than original issue price that made it so.
I know it's a tall order, but if someone has the spare time to respond to my quetions and/or point me in the right direction to fill the void in their collections at the fairest price, I'd sure appreciate it!
Thanks in advance!
- - Dave
YEAR: ISSUE PRICE: DEALER BUY PRICE '08: DEALER SELL PRICE:
1992(SILVER) 21.00 8.00 ???
1993 12.50 7.00 ???
1994 12.50 7.00 ???
1995(SILVER) 21.00 50.00 ???
1995 12.50 25.00 ???
1996 12.50 10.00 ???
1997 12.50 20.00 ???
1998 12.50 14.00 ???
1999 19.95 40.00 ???
2000 19.95 12.00 ???
2001 19.95 60.00 ???
2002 19.95 20.00 ???
2003 19.95 13.00 ???
2004 22.95 30.00 ???
2005 22.95 13.00 ???
2006 22.95 17.00 ???
NOTE: ALL YEARS ABOVE ARE "CLAD" SET PRICES, UNLESS NOTED AS "SILVER"
But my parents were at that age where they had become forgetful, especially during a few health crises.
Since the state quarters introduction in 1999, I have renewed the one-per-year process for them on my own. But they are missing 1994-1998 (older son) and 1996-1998 (younger). I'd like to catch them up, but am not sure what's the best way to do so - - local show, dealers, eBay, Forum members, etc - - or if it's even worth doing.
For the most part, are Clad Proof sets pretty much a "losing proposition"? I'm not into coin collecting to make a fortune or anything - - I appreciate coins for their beauty, sense of history, etc, and have collected from circulation to fill my Whitman blue folders ever since I was a kid. But are Proof sets nice to look at, but not a great investment, due to their initial mark-up from the Mint? Is there a better path to follow, like bullion SAE's or maybe a "collectible" coin like a Morgan Dollar, etc for their birthday each year? It just seems that, most every year since they were born, the original issue price is much higher than the latest guide's "dealer pays" price. It would seem like the only people making out on this are the Mint and the dealers. If I want to get my kids something both nice to look at with a historical element to it, as well as something that has SOME element of appreciation, am I better off looking elsewhere? Or will time make these Proof sets a wise choice?
Towards that end, below are the years & "issue-price" & "2008 sellers guide buyer's price" info. I was wondering if someone would be so kind as to fill in the blanks for me as far as a fair price I should expect to pay to buy the '94-'98 years, as well as explain what it was about the years listed below where the dealer buy price is actually HIGHER than original issue price that made it so.
I know it's a tall order, but if someone has the spare time to respond to my quetions and/or point me in the right direction to fill the void in their collections at the fairest price, I'd sure appreciate it!
Thanks in advance!
- - Dave
YEAR: ISSUE PRICE: DEALER BUY PRICE '08: DEALER SELL PRICE:
1992(SILVER) 21.00 8.00 ???
1993 12.50 7.00 ???
1994 12.50 7.00 ???
1995(SILVER) 21.00 50.00 ???
1995 12.50 25.00 ???
1996 12.50 10.00 ???
1997 12.50 20.00 ???
1998 12.50 14.00 ???
1999 19.95 40.00 ???
2000 19.95 12.00 ???
2001 19.95 60.00 ???
2002 19.95 20.00 ???
2003 19.95 13.00 ???
2004 22.95 30.00 ???
2005 22.95 13.00 ???
2006 22.95 17.00 ???
NOTE: ALL YEARS ABOVE ARE "CLAD" SET PRICES, UNLESS NOTED AS "SILVER"
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Comments
It's easy enough to track a few ebay auctions and get a realistic price for these sets. Now is probably a good time to buy - prices have deflated in several areas, and I suspect that that is true for these sets.
I would bargain shop on ebay, but there is no guarantee of quality in what you will receive. The alternative is to buy them from a local show or a local dealer, but if I was doing that, I'd accept nothing less than a nice, clean set with no spots or smudges. Toning would be optional as a personal choice.
The main longterm value in most of these sets would be in finding sets with truly pristine coins, and in being able to evaluate the coins yourself. The truly pristine coins will be hard to come by in either case, therefore - as a keepsake, I'd be satisfied with nice, clean sets - but I wouldn't hold out hopes of runaway price appreciation.
I knew it would happen.
You also asked whether this is the best thing to do, i.e. continue the 'proof set tradition'. I'd say "no" -- modern clad proof sets are almost always losers. Your suggested alternative of silver american eagles is a little better, at least there is some intrinsic value there. You other suggestion, however, is the one I like the best, that of a "collectible" coin. Morgans are a great choice. And common date Morgans and Peace dollars are attainable in the lower uncirculated grades for not that much more than the $26.95 that this year's clad proof set cost.
I realize there's extra effort in creating proof coins, but when there's no precious metal in the clad sets (save some nickel), I find it harder every year to pay what's now $26.95 for $6.91 worth of coins! I could get them each a Morgan or two each year... now THAT's a substantial coin with some HISTORY behind it!!
Can anyone tell me what was so special about 1995, 1997, 1999, 2001, 2002, and 2004 that their "dealer buy" value has soared beyond the original cost while the other years languish?
Thanks!
- - Dave
<< <i>Thanks, everyone! I'm starting to wish I had gone the Morgans, etc route from the start, as I agree re: the "clad" Proof sets, and going after the silver sets would be out of my desired price range.
I realize there's extra effort in creating proof coins, but when there's no precious metal in the clad sets (save some nickel), I find it harder every year to pay what's now $26.95 for $6.91 worth of coins! I could get them each a Morgan or two each year... now THAT's a substantial coin with some HISTORY behind it!!
Can anyone tell me what was so special about 1995, 1997, 1999, 2001, 2002, and 2004 that their "dealer buy" value has soared beyond the original cost while the other years languish?
mintage and availability. 95 and 97 silver proof sets are the most expensive and hard to find. 1999 silver is got a good premium as well. 2001 was lower and the rest are easy to find. I agree you would be better putting you money in Morgan and Peace dollars. Good Luck
Thanks!
- - Dave
Fred, Las Vegas, NV