Submitting Mint and Proof Sets

[benjmurts]

Has anyone cracked out and submitted a proof coin or mint coin from a set? If so what is the highest grade you have seen? Would it even be worth it??

[e1cnr]

people do it all the time

 

but for most people, it is cheaper buying already in the slab

how many PR69DCAMs can you buy for less than it costs you to grade one?

[19Lyds]

Actually, a lot depends upon what "year" the Proof or Mint Set might be.

 

Proof Sets after 1974 are usually all PR69DCAM coins which can be purchased for less than the slabbing fees.

 

Mint Sets from 1971 to date are usually a mixed bag of typically MS64 to MS67 depending upon the coins. Larger coins (IKE's/Kennedys) are more difficult for MS66. Quarters can be common in MS66 and again depending upon the quarter.

 

Proof Sets from 1973 and earlier may not always produce PR69DCAM coins. For example, a 1971-S Kennedy in PR69DCAM is fairly rare for a modern coin and PR69DCAM for any Kennedy from 1964 - 1970 can be well worth the price of submission.

 

I guess your question is a little open ended in that, just like with any other submission, you really have to know what you are doing before making a submission regardless of the source for the coins. Mint Sets and Proof Sets can be profitable if you know what you're doing.

 

And yes, people do do it all the time as it doesn't take any special skills.

Well, except for the ability to generate money since the submission game can get quite expensive.

[wdrob]

I bought a 1987 Silver Eagle proof once in OGP. Sent it in, ATS, and they placed it into a PR70DCAM slab. I took it out of the capsule, placed it into a 2.5x2.5 flip when I submitted it as well. But I studied that coin many times before sending it in and was positive, in my mind, that it was a 70.

 

If you look at the coin on multiple occasions, and each time you still feel there are no blemishes or marks then I would do it. I plan to do it again with another Silver Eagle I have over here. Can't remember the date right off hand but it is another one of the expensive ones in 70.

 

But they are dead on by stating you are taking a gamble. A big time gamble in most cases I would say.

 

[halfpint]

 

...probably cheaper to just re-submit already slabbed coins.

[BillJones]

A local dealer submits a lot of Proofs for grading. He makes his money from the PR-70 DCam coins and loses or at best breaks even on all that rest. Were it not for the high prices for the PR-70 DCam coins, there would not be very many certified modern Proof coins available.

 

I believe that PCGS makes an effort to control the population of their PR-70 coins to keep the prices up. NGC issues more higher grade pieces relative to the numbers submitted for grading.

 

[ldhair]

Busting sets to have graded is a tough game. You need to be really good at grading to even break even. Some do it just for the fun.