Proof Coin Set

[robcriddle 0]

Hello all, I am new to the forum and a relatively new collector and am seeking some advise from some more experienced collectors! My area of interest is proof coins and I have purchased a few proof coin sets. I have just had the 2013 set arrive from the royal mint. However I have noticed a couple of small imperfections on one of the coins, a rusty red/brown mark, about 1mm in diameter. What are these marks? Should I send it back to the royal mint for a replacement?

Many thanks for any advise

Rob

[Gary 7]

Hello Rob and welcome to the Forum.

Proof coins should, when bought direct from the Mint, be perfect and I would advise sending them back. A red/brown mark would imply that the coin has been in contact with moisture and if there is moisture within the slab then the rest of the coins will soon be Toning as well!

[declanwmagee 122]

They can't argue with you Rob, really! Proof buyers buy for the perfection of it all...

[Peckris 579]

Just as an added note - the Mint charges a ridiculously high premium for new issues; proof sets regularly appear a few years after their issue at a vastly reduced price on what's called the 'secondary market'. If you were interested in getting older sets, e.g. 1970 - 2005, you could buy them at auction for maybe half book price or even less.

[robcriddle 0]

Thanks very much for the advise

[Peter 615]

Rob

Heed Pecks advice.

Proof sets drop like a stone.

I have several sets and never paid more than £8.

[Peckris 579]

Rob

Heed Pecks advice.

Proof sets drop like a stone.

I have several sets and never paid more than £8.

What's more, if you keep an eye on Spink, the price of them rarely moves from year to year.

[sound 25]

Rob,

In addition to what's been said look at the mintages.

If you select low mintage sets there may be price appreciation. You might want to look through a price catalogue and compare what's increasing in value and what is not. Comparing Spink now with one five or six years old can be very revealing. Of course this not limited to Spink.

You also need to be careful with regard to bullion prices when buying modern sets. Rising metal values can hide the fact that there is no intrinsic value other than the basic value.

Some of the 20 Centuary proof sets , 1911, 1927 and so on may be worth a look. You can also pick up some of the individual coins from the sets. These have and are likely to increase in value

The mint have way of telling you that everything is collectable. If they produce thousands of sets they are usually not. If you want to be really cynical you could apply the same principle when someone tells you someting is not collectable. Have they got a few tucked away in their safe.

Kind regards

Mark

[Chris Perkins 228]

I bought a 2014 proof set because I had to (to provide commemorative coin images) but sent it back because the coins were simply pushed in to a piece of rubber which could be shaken to move freely inside the Perspex, and on a couple of the coins were sticky residues around the rims (on the inside of the Perspex). Not good for future toning prospects. Also, the 50p fitment into the rubber was uneven.

My opinion: The RM are just after a quick profit and will use the cheapest materials/packaging that they can get away with. They want your money now and they don't care what the coins will look like in a few years time - not their problem. The older sets often have bad toning, but in the main were of better quality than the one I bought recently.

[robcriddle 0]

Thanks again everybody