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Advice on selling proof sets

Started by Larry Dreher,

23 posts in this topic

Larry Dreher

Larry Dreher

Posted
Posted

I have a collection of proof sets from the 60's to date. Many were acquired directlty from the mint and they are all raw, in the US mint packaging.

 

I realize that many of those years aren't worth much. Selling them as one a large batch on ebay is the easiest but I'm guessing that won't bring the best bids. Other then splitting them up and selling them individually on eBay, does anybody else have any suggestions?

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coinman1794

coinman1794

Posted
Posted

Most of them are very hard to sell for anywhere near book value (sometimes even greysheet!), and selling them individualy on ebay would probably take more time and listing fees than it's worth. Selling the complete set might be your best option; you may even get a small premium for a complete set.

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bsshog40

bsshog40

Posted
Posted
Most of them are very hard to sell for anywhere near book value (sometimes even greysheet!), and selling them individualy on ebay would probably take more time and listing fees than it's worth. Selling the complete set might be your best option; you may even get a small premium for a complete set.

 

I agree. After all the ebay fees and paypal fees for each, you may be better in the long run selling them as a lot. Maybe even in 10 yr increments might do also.

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Larry Dreher

Larry Dreher

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Selling the complete set might be your best option

 

The problem is that the set is not exactly complete. I've got a few holes here and there. Maybe I should try to fill them cheaply so I can sell the set? That doesn't sound right 893scratchchin-thumb.gif

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bsshog40

bsshog40

Posted
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I still think maybe in lots of certain years. Maybe each lot up until the missing set. Then go to the next batch. If you have some missing sets, you can always combine some of the lower valued proof sets with a higher value proof set and it may change the return amount. confused-smiley-013.gif

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rbrown4

rbrown4

Posted
Posted

Actually I have the same sort of question as well. I have three sets each of US Mint and Proof sets starting in the 50's going to the 80's. My plan is to keep one of each for myself and sell the others. In the few cases where the possible value of the individual coins may be higher than the current market rate for the set, is it worth the effort time-wise and monetarily to split these up?

 

I do plan on examining the coins in each for varieties and errors as well.

 

Thanks,

 

Rey

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bsshog40

bsshog40

Posted
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I guess that would depend on if you think the coin will grade a certain level to make it worthwhile to pay for grading if you split the set. If you do decide to sell some of those 50's sets Rey, let me know. I collect the proof sets also. I have 1957, then go from 1959 to present. The proof sets below 1960 go up considerably give or take a couple sets. From the 60's up tho' just do not have the value except a couple the other way. I think the market return would be much better for 1950 sets and up than it would be for 1960 sets and up. if I had those sets and was looking to make a little money, I might try putting a few low value sets with one higher value set. The set that would be more in demand, might make the entire price of that lot go for more than selling all out-right. JMO

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James_OldeTowne

James_OldeTowne

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My advice is to save a lot of headache, footache and heartache. Take the proof sets to the nearest coin shop, and accept the 15% back of bid offer that you should get. These are just simply not worth the effort to try and get any premium out of. Even as a dealer, I retail them for 10% back of bid!

 

Get out of them quickly, then use the newfound cash to buy something with upside potential!

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MarkFeld

MarkFeld

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Unless you want to spend considerable time and effort trying to get a little bit more for them, you'd probably be better off just selling them, as they are, to a dealer. You can probably get within 10% of Coin Dealer Newsletter (CDN/"Graysheet") bid for them from a fair number of dealers.

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michael

michael

Posted
Posted

My advice is to save a lot of headache, footache and heartache. Take the proof sets to the nearest coin shop, and accept the 15% back of bid offer that you should get. These are just simply not worth the effort to try and get any premium out of. Even as a dealer, I retail them for 10% back of bid!

 

Get out of them quickly, then use the newfound cash to buy something with upside potential!

---------------------------------------------------------

TOTALLY AGREE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Poster: wayneherndon

Subject: Re: Advice on selling proof sets

 

I would buy them at 90% of greysheet Bid if you'd like to sell the whole lot in one easy deal.

 

WH

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I WOULD TAKE WAYNES GENEROUS OFFER HE IS A GOOD DEALER AND HONEST.............. THIS TO ME IS A STRONG OFFER thumbsup2.gifthumbsup2.gifthumbsup2.gif

 

------------------------------------------------------------

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Larry Dreher

Larry Dreher

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I WOULD TAKE WAYNES GENEROUS OFFER HE IS A GOOD DEALER AND HONEST.............. THIS TO ME IS A STRONG OFFER

 

PM already sent to Wayne. Thanks for the advice. They are just taking up room now that I can use for more Pandas grin.gif

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michael

michael

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and remember this is SIGHT unseen offer!! cloud9.gif if MANY of the proof sets are not pristine then many deaLERS will not even offer ten percent back of bid

 

unfortunately such is the current market

 

 

i agree with james early us take the money and buy something

 

really good with value opportunity, rarity and EYE APPEAL

 

893applaud-thumb.gif

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gmarguli

gmarguli

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Posted
I WOULD TAKE WAYNES GENEROUS OFFER HE IS A GOOD DEALER AND HONEST.............. THIS TO ME IS A STRONG OFFER

 

PM already sent to Wayne. Thanks for the advice. They are just taking up room now that I can use for more Pandas grin.gif

 

gossip.gif Tell Wayne he can have them at 10% back, but he must also make 5 posts this month on these forums. poke2.gif

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jgrinz

jgrinz

Posted
Posted

gossip.gif Tell Wayne he can have them at 10% back, but he must also make 5 posts this month on these forums. poke2.gif

 

I see that!

 

WH

 

PS: This makes two posts for May.

 

893scratchchin-thumb.gif at ONLY 24 post I guess its not out of the norm to say

 

WELCOME ABOARD WAYNE foreheadslap.gif

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MAULEMALL

MAULEMALL

Posted
Posted

 

893scratchchin-thumb.gif at ONLY 24 post I guess its not out of the norm to say

 

WELCOME ABOARD WAYNE foreheadslap.gif

 

 

Hey, I've been here LOT longer than you!

 

WH

Where the hell is Oakton, Va?? 893scratchchin-thumb.gif
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MunkyMan95

MunkyMan95

Posted
Posted

 

893scratchchin-thumb.gif at ONLY 24 post I guess its not out of the norm to say

 

WELCOME ABOARD WAYNE foreheadslap.gif

 

 

Hey, I've been here LOT longer than you!

 

WH

Where the hell is Oakton, Va?? 893scratchchin-thumb.gif

 

East of West Virginia makepoint.gif

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BillJones

BillJones

Posted
Posted
Unless you want to spend considerable time and effort trying to get a little bit more for them, you'd probably be better off just selling them, as they are, to a dealer. You can probably get within 10% of Coin Dealer Newsletter (CDN/"Graysheet") bid for them from a fair number of dealers.

 

When I was taking tables at shows on a regular basis, I would happily pay 10 to 15 percent in back of bid for such sets, PROVIDED that they were not damaged by toning or problems. These sets are saleable at bid or little higher at the shows.

 

Alass today I am scaling back and would not be a buyer. But I think that these sets in NICE condition (that excludes Cameo coins that bring premiums) are undervalued. "Bad" sets that are toned or damaged are worth less.

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jgrinz

jgrinz

Posted
Posted

 

893scratchchin-thumb.gif at ONLY 24 post I guess its not out of the norm to say

 

WELCOME ABOARD WAYNE foreheadslap.gif

 

 

Hey, I've been here LOT longer than you!

 

WH

 

Hence the foreheadslap.gif ...

But 24 posts in 4 years popcorn.gif

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James_OldeTowne

James_OldeTowne

Posted
Posted
and remember this is SIGHT unseen offer!! cloud9.gif if MANY of the proof sets are not pristine then many deaLERS will not even offer ten percent back of bid

 

unfortunately such is the current market

 

 

i agree with james early us take the money and buy something

 

really good with value opportunity, rarity and EYE APPEAL

 

893applaud-thumb.gif

 

Michael brings up an excellent point that may have slipped through the cracks. You might remember a WYNTK thread I wrote awhile back on "sight-seen vs. sight-unseen". One point I made is that collectors are generally wise to only deal in sight-seen purchases, but common proof sets are a classic example of something that frequently trades sight-unseen.

 

Wayne Herndon's offer is very fair - congratulations!

 

The one caveat, as Bill Jones mentioned, is if the early sets happend to be loaded with UCAM coins, but often, in groups of proof sets, this is offset by those with scuffy packaging, or otherwise unattractive coins.

 

One last thing - in my experience, if the proof sets are in complete, original shipment packaging as shipped and postmarked from the mint, that is usually worth a small premium, perhaps 5%. This is especially true of GSA dollars, for which you might get an even better premium.

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