Back in 2002 I bought 1964 - 1998 proof sets from the hsn coin collector show. It also includes the special mint set from 1966 and 1967. I paid 999.99 back then and I wanted to know what I can sell them for now. More? Less? the same? Just want to know if my little investment was a good one so far.
Welcome to the Forum!!! Problem with shows like HSN or QVC is that they way way way way overcharge on the items they sell and they are really good at it. Took a quick look at the latest Greysheet (which has current bid/ask prices on these sets) and the 1964-1998 run of proof sets is worth roughly $225-$250. If you offered to sell to a dealer, they may even pay less than that since they likely get alot of these sets and they probably don't need more. Of course, you should also check prices on eBay to confirm the going rates, but you'd have to adjust for selling costs (auction fees/shipping/PayPal fees).
It's sad when a queery like this comes up. It's sad when a queery like this comes up. It's show's like this that gives coin collecting a bad reputation. I'm sorry that you had this experience - with that said some points to ponder. 1. Proof and mint sets after 1959 are almost never a good investment. There are just a couple of exceptions those being the 1999 silver, 1970 mint set, some containing die varieties, etc., a couple more maybe but for the most part if you ever get 40% of your money back on most groups of proof sets count yourself very lucky indeed and that's in the next 25 years even. The reason they are a bad investment is eveyone has them, the mint made too many and they walk into coin shops and shows all day long every day. Maybe you can salvage some of your money and get interested in another area of numismatics that you can enjoy.
bhp3rd, In the United States I don't see what's wrong with trying to make a profit. I believe capitalism is still working well despite what they are saying on the television. I do not see much fun in buying coins other than making a profit off of selling them. I have no idea how that gives coin collecting a bad reputation.
I put together my 1959 - 2009 run of proof sets together for just under $400.00. I did 90% of that off of ebay just sitting up late at night and bidding on one set of a certain year after another until I got one for what I wanted to pay. I am having a lot harder time aquiring the 1982 or 1983 souveneir mint sets since they did not make a regular mint set in these years. These are pretty pricey right now.
Your the one who asked??????????? I said nothing about it being wrong to make a profit. If you don't think there is an area of numimatics you could enjoy other making money I suggest you find another hobby. If you do not know how your own experience can give coin colleting a bad reputation the buy another group of coins for $1000 and sell them for $250. Good luck - I was on your side, not any longer - I don't think you know what you are talking about and I have no more time for such activity. Good by.
The companies that sell coins on HSN and QVC and such give coin collecting a bad name. They sell something for far more than it's worth by claiming things are rare, the buyer is getting a steal, and they will see a return on their investment went it is absolutely false. I don't know how that's even legal.
You give grammar a bad name querry. "Your" shows ownership. As in "your" coins. You're or means "you are". Also it's good bye.
I know that penmanship is important in any kind of writing. But sometimes when you are just trying to get your message across, your impatience just trying to type it down while your message is flying through your brain at the speed of light, inhibits the proper procedure of the fingers doing the job correctly. And when you have done this on the same site for about 2 or 3 thousand times, you tend to care less about always placing a letter or two in the right place and just try to get your message across. And just because you didn't like what you read doesn't give you the right to play Mrs. Second Grade Grammar Teacher. This isn't school.
How that was uncalled for. Ben answered your question and express his opinion about these coin shows, which many of us here agree with. It is fine to make a profit on coins you sell, I try to every time I sell a coin but a 400% mark up is way out of line. It is unfortunate that many people like yourself get caught up in these TV shows hype and pay the outrageous prices they are asking only because you believe what they are telling you. There should be one disclaimer at the start of each of these shows, which reads "BUY THE BOOK BEFORE THE COIN" but that will not happen because these show would not last long. Take this as a learning experience and move on. If you stay in this hobby it will not be your last mistake but hopefully it is your most expensive one.
Tonight CSN was offering the 1960 - 2009 proof sets for $899.99, and I had to laugh when the announcer said that if you were to take the complete set of kennedy proofs out and buy them seperately they would be $750.00. Then he went on to add in the pennies and lets not forget he has sold the proof sets of the 50 state quarters for $399 all day. Wow what a deal!!!!! :hammer::hatch:
Yea, I remember when I started to collect, I was sucked in the Littleton trap and bought a 1921 Morgan dollar for $37.50. I though it was a great deal until I got the coin and it was in XF condition and bought my first Red book and noticed the value. Kinda like when you drink your first beer.:crying:
Yeah, my introduction to them was there deal where you can buy a MS Lincoln set from 1959-1999 (or so) as a special deal for $0.99. I was young so I did it. Not a bad deal, but I didn't read the fine print and ended up in one of their subscription Morgan Dollar programs where they send you a coin to evaluate and buy or send back. I never bought any of them and eventually got them to stop sending them to me. I didn't realize how overpriced they were until later...but I was very glad that I didn't fall into that trap.
