Are Proof Sets Worth Buying?

Posted on: 26 June 2018

Take a look at silver and gold coins for sale, and you'll see a range of options that you can purchase. Some of these are older coins that used to be used as money, while others come in these nice sets called proof sets. If you're a new coin buyer, the proof sets can look shiny and neat, but are they the coins that you should purchase?

What's the Purpose?

Why do you want to buy the proof set? These sets are usually gifts or memorials because of their clean and neat presentation. If you're buying it solely because you want the metal to grow in value over time, the proof set might not be the best option because you'll pay extra for that presentation -- and you might not get that extra money back if you sell the set. So some of that increased scrap value would be eaten up, repaying you for the extra you paid because it was a set and not a single coin.

Which Storage Method Will You Use?

Proof sets are meant to be in very good shape. The coins are securely encased in plastic and mounted in a display card. You can keep them out in a display or store them in a file cabinet, but they should at least be stored carefully. If you're just going to toss the coins wherever you can in that filing cabinet, less expensive standard coins might be a better choice. Some of those are collector-value based due to age and rarity, but many others sell for only the scrap value of their metal, and their presentation won't be as crucial.

How Many Sets Have Been Released?

A big consideration for proof set value is the rarity of the particular set. For people who want to have at least some investment value in the set, the rarer, the better. Commemorative proof sets, for example, may be released in large quantities since the set is meant as a remembrance (so makers want people to have access to it). These sets might be worth buying for someone heavily involved in whatever is being remembered, but as investments, they might not be the best choice. But a rare proof set can go up in value and can be a good investment.

When you know exactly what you hope to get out of what you buy, you can make better decisions. Look for coin stores and websites that offer proofs and standard coins so you can compare the two more easily. For more information on buying silver coins in your area, contact your local coin shop.