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 Bullion Coins and Metals Investing Forums
 Silver Bullion, Gold, & other Bullion Metals
 Counterfeit coins
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LosMyMine
New Member


USA
6 Posts

Posted - 07/21/2010 :  21:37:37  Show Profile Send LosMyMine a Private Message
Long time silver/gold interests/small investor. First time poster here. I thought this might be a good place to ask a question that has plagued me for a long time. I watch TV sales shows and every one...for years and years...has literally thousands of "proof never circulated" coins. It seems like millions of USD silver dollars. Can there really be that many? It just seems a bit to much for them not to be counterfeit.

Sorry if this is a stupid question. I buy bullion so it does not really mater to me. Just curious.

wagsthadog
Penny Hoarding Member



USA
565 Posts

Posted - 07/21/2010 :  21:57:51  Show Profile Send wagsthadog a Private Message
Hi there-

I'm not an expert by any stretch but FWIW,

-You've probably seen HSN-type shows selling proof sets ad nauseum, but the truth is there are a LOT of them out there. Almost every "proof set collection" auction however, starts in the 1960's or seventies because there are literally millions of these dates out there. However, once you go below 1960, the game changes REALLY quickly. That's where you start getting into the $250+ set range.

Apart from a select few rarities (which few people know about, mostly error sets)You can still get just about any proof set from 1960 on for a song.

Silver proof sets are a different story, but most of them go for a little above spot. The 1999 silver proof set will set you back about $200, though. The price has been dropping, tho....

If you're interested, try to buy complete sets. With all the packaging required to make a fake set look real, it seems unlikely that counterfeiters are going to go through all that trouble when they could try to make bogus gold coins instead.

Just my .02c. You could try to buy some silver proof sets from the early 2000's if you want to try. They are silver and can be had for pracically spot, and may give you a little edge in numismatic appeal down the road. Nice way to round out your collection....

wags

Only when they CAN'T have it, ......THEN they'll want it.

I love Cents. If you get an UNC box, you win. If you get a regular circ. box, you win. If you get a zinc box, you don't lose....so you still win.
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