How to Correctly Price Proof Sets ?

[Pete]

I was updating my spreadsheet data today and thought I would add a new column showing target / market price rather than value everything on spot.
Proofs and proof sets will always attract a premium - but by how much ?, so I looked up Chards and The LondonCoinCompany for guidance.

The problem I encountered is setting a realistic value and not being too optimistic about potential resale value.
I didn't expect to see such a difference and find this hard to explain as surely the market price is more or less the lower one otherwise how could you expect to sell ?
Perhaps one dealer is selling ( and guaranteeing ? ) FDC condition brand new rather than good quality but used ?
My recent experience buying an 'immaculate condition mint' silver 1997 Britannia set on fleeBay is documented elsewhere - what a pain in the ass !!

I compared a few more sets, Britannia and Sovereign sets and single proof coins to see similar differences across the range.

Having sold a proof 1980 half sovereign for around £140 I was amazed to see the same coin listed for £290 !!

Dream on I said to myself 

 

[Roy]

Easy. Don't sell 

[sovereignsteve]

IMO there are very few collectors of proof sets. Most people buying will be looking to buy a bargain at near bullion prices or with an aim to split the set and/or grade individually. They do look nice as a set but difficult to store securely.

Personally, I have had a few sovereign sets in the past and soon grown tired of looking at them and having so much capital tied up. Unless the design is such that it needs a double of quintuple to really bring it out, I don't see any advantage over just collecting singles.

I think the only ones I currently have are a 1980 4 coin (don't ask me why I still have this one), a 1994 3 coin (Bank of England £2), a 2002 4 coin, a 2002 3 coin and a 2005 3 coin.

They are very difficult to value; there is no premium for the set so value as individual proofs.

[Guest]

Britannia proof sets were going for £1,600 at Chard a couple of years ago. I bought a 1989 Sov 3 coin set at £1,250. I bought a 2001 Britannia set for £1,650. Broke both sets up and graded.

Wondering if it's better to keep more recent sets 2015, 2016, and sov 2017 as sets? They make many less sets recently.


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[Pampfan]

15 hours ago, Pete said:

I was updating my spreadsheet data today and thought I would add a new column showing target / market price rather than value everything on spot.
Proofs and proof sets will always attract a premium - but by how much ?, so I looked up Chards and The LondonCoinCompany for guidance.

The problem I encountered is setting a realistic value and not being too optimistic about potential resale value.
I didn't expect to see such a difference and find this hard to explain as surely the market price is more or less the lower one otherwise how could you expect to sell ?
Perhaps one dealer is selling ( and guaranteeing ? ) FDC condition brand new rather than good quality but used ?
My recent experience buying an 'immaculate condition mint' silver 1997 Britannia set on fleeBay is documented elsewhere - what a pain in the ass !!

I compared a few more sets, Britannia and Sovereign sets and single proof coins to see similar differences across the range.

Having sold a proof 1980 half sovereign for around £140 I was amazed to see the same coin listed for £290 !!

Dream on I said to myself 

 

I would take the lower price as the value - since if I were looking to buy one - I would probably go with the cheapest available. 

That being said - you could always add in to your spreadsheet three columns: one with a low end range of price the other with a high end range of price and then an average of both columns, etc.  

 

[Pete]

7 hours ago, Numistacker said:

Britannia proof sets were going for £1,600 at Chard a couple of years ago. I bought a 1989 Sov 3 coin set at £1,250. I bought a 2001 Britannia set for £1,650. Broke both sets up and graded.

Wondering if it's better to keep more recent sets 2015, 2016, and sov 2017 as sets? They make many less sets recently.

My rarest sets are a 4 coin Brit 1994 with issue 435 sets; and a 3 coin 2005 with issue 417 sets.

Where is the best place to have coins graded and what typically would this cost ?
Would a graded coin expect to sell for a higher price than and ungraded coin and if so is the cost of grading etc. adequately covered ?

[Guest]

My rarest sets are a 4 coin Brit 1994 with issue 435 sets; and a 3 coin 2005 with issue 417 sets.
Where is the best place to have coins graded and what typically would this cost ?
Would a graded coin expect to sell for a higher price than and ungraded coin and if so is the cost of grading etc. adequately covered ?

If you grade with NGC and get 70 then yes you will make money. 69 you will still make a little money and 68 you probably will break even. I have graded about 30 with NGC.


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