2004 Mint Sets

[TerrapinWill]

I was wondering what people thought about the dramatic rise in the price of the 2004 UNC Mint Sets. I bought mine from the mint, I think for 16.95. Now I see they are selling for as high as $55 on Ebay and even higher on other sites. So my question is this.

 

Are these sets grossly overpriced now, or do they have the potential to really take off. I don't know a lot about this stuff, and I wouldnt sell mine because it's the only one I have.

 

I know there's suppy v demand issues, and I have also heard that many of these sets are broken down for the individual coins, which are worth more than the set intact.

 

So what's the real deal with these sets? What are the coins contained therein worth. Is there potential for long term growth in the price of this particular set, given it's low mintage, state quarters and the two nickels?

[Hoot]

All of this is highly speculative at this point. As with every modern Mint product, there is the potentialfor it to take off in value. Modern mint sets typically don't do that, but stranger things have happened. Often, a single coin in a mint set will appreciate in value, thus driving up the value of the set. So far, the only items in the set that appears to be nicer than what you can buy in bulk are the 2004 nickels. In bulk (rolls, bags) most are beaten to death. I've herd Kennedy and state quarter collectors say that they've gotten nice pieces in bulk purchases. Mint sets are a bit expensive, typically, for the extraction of a single coin, but for late-date nickels, they are the best resource. (The sets I cut up, I use the coins as album stuffers and place the extras in flips for later dispersal.)

 

Anyhow, Your guess is as good as others on this one. Clearly, some of the modern proof sets have done quite well, but the mint sets have not had the same legacy.

 

Hoot

[GoYankees]

NOTE: I'm a collector, not a dealer.

 

Base on my limited experience, I find US Mint UNC sets to be of average quality at best. I also discovered that high quality moderns metorically rise in value in a short period in time only to dramatically drop in value once dealers/collectors submit them in droves, thus increasing ther populations. I learned this the hard way while purchasing my first Mint bags of 2004 P & D Peace Medal nickels. For the Ds I have made a MS67 along with several MS66s. I was selling the 66s on eBay for $40-60! As the months went by, my remaining 66s were selling for $20-25. the last time I sold a 66, there was only one bidder and it sold for only $10. I now have one left that I plan on selling soon.

 

What was my mistake?

 

I should have sold my 67 (I still have it) as soon as it arrived from PCGS. They were selling for $250 and up on eBay!!! Now, they are selling from $30-40.

 

As far as mint sets go...

 

- I don't care how low the mintage is for a particular year. Moderns become rare by grade/condition only.

 

- NEVER buy mint sets (outside the USMint) sight unseen. I did that once and never again. Rather, check www.coinworld.com or www.coinclub.com and use their "shows/events" links to find coins shows in your area.

 

- Either that or simply buy slabbed (NGC/PCGS/ANACS). I find ANACS to be brutally tough on MS/PR moderns. Myself, I like to submit coins. It's usually fun. I have just started to submit to NGC and I was more than happy with their service

 

- Look for ticks, dings, spots, and marks in the fields as well as the devices on both sides. If I find at least one coin that's mark-free, I'd get the set if the price is nice.

 

I hope this helps!

[cladking]

Not all regular issue moderns appear in mint sets and most varieties do not appear in mint sets. No rare coins appear in sets in all probability. Since 1965 there are some coins which do not appear as extremely nice gems in mint sets at all. There are very few of these and these all do appear as lower grade gems.

 

There are probably dozens of the business strike moderns which were not made at all for circulation. This can be a mute point anyway since many of these coins were not saved in rolls and are available only in mint sets. There are other coins which were released only in mint sets such as 1973 Ikes.

 

Collecting mint state moderns is pretty complicated but you soon learn that gems are where you find them and that some places aren't worth looking. You'll also find that some of the varieties do not exist at all except in circulation. Finding gems in mint sets is like shooting fish in a barrel compared to other sources for most of the '65- to '98 issues.