Issue price of 1976-S 3-piece silver sets?

CaptHenway · April 20, 2011 1:14PM

To the best of my knowledge the three-piece silver Bicentennial sets were sold from 1975 to 1982. Does anybody remember if the sales prices of the sets were adjusted up and then down during the Hunt Brothers era?

The Redbook gives the issue prices at $9 for the BU set and $15 for the Proof set. Does anybody know if these were the initial and only prices, or were there other prices along the way?

Thanks,

TD

19Lyds · April 20, 2011 4:08PM

I don't remember at all Tom.

pruebas · April 20, 2011 10:52PM

I remember them at $7 and $12.

PTVETTER · April 20, 2011 11:30PM

I remember them being the same price from the US Mint as the regular proof set.

I ordered 1 proof set from the mint not knowing there were 3 pc silver and got a 3 pc in the mail.

CaptHenway · April 20, 2011 11:54PM

After further digging I have determined that the prices were originally announced as $9 BU and $15 Proof, but that the Proofs were quickly dropped to $12.

Later they announced a bulk program for the BU's where you could buy 50 sets for $7 each. This was all in 1975.

Still want to know if they raised the prices in 1979 or 80.

Thanks to all who responded.
TD

pontiacinf · April 20, 2011 11:55PM

this set here was $15 from he mint, its the proof set, the strip set (BU) i have no clue

pontiacinf · April 20, 2011 11:57PM

<< After further digging I have determined that the prices were originally announced as $9 BU and $15 Proof, but that the Proofs were quickly dropped to $12.

Later they announced a bulk program for the BU's where you could buy 50 sets for $7 each. This was all in 1975.

Still want to know if they raised the prices in 1979 or 80.

Thanks to all who responded.
TD >>

so I got ripped for 3 bucks lol

CaptHenway · April 21, 2011 12:13AM

<< 

<< After further digging I have determined that the prices were originally announced as $9 BU and $15 Proof, but that the Proofs were quickly dropped to $12.

Later they announced a bulk program for the BU's where you could buy 50 sets for $7 each. This was all in 1975.

Still want to know if they raised the prices in 1979 or 80.

Thanks to all who responded.
TD >>

so I got ripped for 3 bucks lol >>

But when did you buy it? They may have raised the price back up to $15 in 1979. The day that silver touched $50 in January of 1980 these melted at $27.

cladking · April 21, 2011 12:14AM

I believe only the BU sets were available after 1976 and I'm sure I remember
one price increase in '79 or '80 because they were getting very close to melt
value.

The quality of the sets sold after 1977 was horrendous as these were run off
on high speed presses late in the production year when the mint came to believe
the aurthorized mintage was actually the mandated mintage. The coins were
dumped in barrels and assembled in batches. These lower quality coins were
packaged in plastic without the white stripes and are distinct from the coins made
by the normal mint set process. Sales of these were very poor due to quality
and attrition was very high because of the timing.

CaptHenway · April 21, 2011 1:30AM

Bingo! Found the info in the fourth edition Coin World Almanac!

The Mint suspended sales of the BU Bicentennial sets in September of 1979 because the melt value had reached the $7 bulk sale price. It suspended the sales of the Proof sets in December because the melt price had reached the $12 sale price.

In August of 1980 it resumed sales at $15 BU, $20 Proof.

TD

Edited to add from sixth edition Coin World Almanac:
First offered Nov. 15, 1974 at $9 BU, $15 Proof.
Changed to $9/12 Jan. 19, 1975.
BU sales suspended Sept. 20, 1979.
Proof sales suspended Dec. 1979.
Resumed Aug. 4, 1980 at $15/$20.
Lowered to $12/$15 Sept. 1, 1981.
Lowered to $9/$12 Sept. 1982.
Proofs sold out some time in 1985.
BU sales ended Dec. 31, 1986.
Remainders melted.

pontiacinf · April 21, 2011 1:34AM

mine was bought in the national mall in DC in 76-77

CaptHenway · April 21, 2011 2:17AM

<< mine was bought in the national mall in DC in 76-77 >>

Was the vendor a private merchant? Or did the Mint have a booth set up somewhere?

GRANDAM · April 21, 2011 2:57PM

<< After further digging I have determined that the prices were originally announced as $9 BU and $15 Proof, but that the Proofs were quickly dropped to $12.

Later they announced a bulk program for the BU's where you could buy 50 sets for $7 each. This was all in 1975.

Still want to know if they raised the prices in 1979 or 80.

Thanks to all who responded.
TD >>

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If memory serves me correctly the Bulk 3 pc unc sets were all CRAP. They came in a Red Pack that was a brighter Red than the regular ones and the plastic pack did not have a white stripe on it. All of these coins were of terrible quality and horribly bag marked.

GrandAm

pontiacinf · April 22, 2011 12:00AM

<< 

<< mine was bought in the national mall in DC in 76-77 >>

Was the vendor a private merchant? Or did the Mint have a booth set up somewhere? >>

The mint had a booth setup pretty much every year back then around Thanksgiving thru Xmas.

mingot · April 22, 2011 12:18AM

This thread reminded me that I own one of these

Poor coins are getting sold this weekend, though.

pf70collector · April 22, 2011 1:01AM

This was actually the very first set of coins I bought directly from the U.S. Mint at age 14. It has special meaning to me and I still have it.

BillJones · April 22, 2011 1:06AM

I don't remember the prices ever being adjusted upward while those sets were for sale. I know that the three piece Uncirculated sets were a glut on the market for most all of that time and were always available and begging for buyers. I remember seeing the Uncirculated coins offered by banks during that period.

Those coins were 40% clad silver, which dampened down the interest in them with respect to bullion.

CaptHenway · April 22, 2011 2:16AM

The price adjustments, up and down, are per the Coin World Almanac. I believe them.
TD

AngryTurtle · April 22, 2011 2:50AM

<< 
...
Proofs sold out some time in 1985.
BU sales ended Dec. 31, 1986.
Remainders melted. >>

Wow! I had no idea that these hung around so long!

Issue price of 1976-S 3-piece silver sets?

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