Price of Proof Sets Versus Individual Coins

[J.A. Collection]

What gives?

 

I have started to focus my collection on obtaining a proof and mint set from each year. When I receive a set, I add the set and then individual coins from that set into my database. I was going thru the 65th Edition Red Book to see what the 'going prices' were and was somewhat confused on the pricing.

 

1966 Special Mint Set: $8.00

1966 Kennedy Half Dollar MS63: $7.00

1966 Washington Quarter MS63: $1.00

1966 Roosevelt Dime MS65: $1.25

1966 Jefferson Nickel MS63: $0.25

1966 Lincoln Cent MS63: $0.20

Total Coin Value: $9.60

 

1980 Proof Set: $7.00

1980 SBA Dollar PF65: $8.00

1980 Kennedy Half Dollar PF65: $4.00

1980 Washington Quarter PF65: $3.00

1980 Roosevelt Dime PF65: $1.50

1980 Jefferson Nickel PF65: $1.50

1980 Lincoln Cent PF65: $2.50

Total Coin Value: $20.50

 

What sets the 'Current Value' of proof and mint sets? I would think that the current value would be based off of what each coin inside could be valued.

 

Yes, I know that not all coins are created equal. Some coins in a proof or mint set may grade lower or may grade higher.

 

Also, what makes a 1984 Kennedy Half Dollar PF65 priced at $6.00 when the 1980 (older coin) is $4.00. They are made of the same metals.

 

When buying a set, do I base my price off of what the Red Book tells me the current value of the set is or base my overall price on each coin in that set?

 

See more journals by Jeremy Abbott

[noow]

The red book values change very quickly, so they are only ballpark estimates of what the current value is. Individual coins sell for more because there is the effort of selling each coin by itself, and giving each coin it's own packaging. The "total value" for all the individual coins in a set is often more than the set value (the collector is also getting a "bulk deal" buying the set together, and assumes the risk of not knowing the individual grades). This is not the case where the coin packaging in the set is collectible and/or rare.

 

The current value of sets depends on how many sets were issued and the demand. The 2008 proof sets and Silver proof sets did well because the demand is high; it is popular as a last-year set.

 

The Kennedy half may have been more expensive in the newer set due to the factors above.

 

I value my sets at not only what the Red Book says, but also what they are going for on other coin selling websites like eBay.

[Six Mile Rick]

jrabbott,

 

Your sets are figured individually by auction purchases. The collecting season starts around November and the individual prices will go up or down depending on the amount of people looking for certain coins. Silver goes up every year around December as that is a choice collectable. When there are few bidders for certain coins the price value will drop. All is based on current auction values.

 

I hope this helps you.

 

Later----Rick

[J.A. Collection]

Thank you both.

 

The prices I quoted above are based off a set price printed in a book. Prices for both individual coins and sets should fluctuate together. Are the prices in "The Official Red Book" based on current auction values?

[noow]

Yes, they are based on sales and bullion values at the time of printing.

[Mokiechan]

Red Book prices should only be used as a general and relative estimate of a coins value. As has been cited above, increases in Silver values, seasonal increases or decreases in buyer activity, national dealer promotions, and the current economic state (good or bad) will have an effect on individual coin prices.

 

The Red Book is a great reference book, it is not a great price guide.