Author Topic: Opinion - South African proof sets  (Read 238 times)

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Offline Manfred1

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Opinion - South African proof sets
« on: December 20, 2017, 08:35:56 AM »
IMO the South african proof sets are the most under rated ... or neglected sets at this stage.

With the normal circulation coins minted in (hundred) millions, the proof sets will become more and more "unavailable" to collectors day by day ...

The following proof mintages as example ... Year and mintage

1994   - 5800
1995   - 5810
1996    -4827
1997   - 3596
1998   - 3051
1999   - 3774
2000   - 3703
2001   - 3678
2002   - 3250
2003   - 2909
2004   - 1935
2005   - 1944
2006   - 1637
2007   - 1280
2008   - 1563

Any thoughts??

Offline Figleaf

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Re: Opinion - South African proof sets
« Reply #1 on: December 20, 2017, 11:05:06 AM »
It's not just supply; you should also consider demand.

Proof used to be extraordinary and very expensive. Franklin mint, Italcambio and the like turned that around about three decades ago by issuing more proofs than uncs. While proof is still desirable in the US, Canada and parts of Asia, it has lost its shine in Europe. For an extreme example, consider the Olympic Games proofs of the Soviet Union. They generally sell at the same price as the uncs. Sets fared even worse. The proof sets of the Franklin mint may sell at a lower price than the unc sets.

I would expect more and more collectors being disinterested in modern proofs  and proof sets as it becomes clear to the holdout collectors that proofs have big disadvantages: easy to deteriorate, difficult to sell, grade inflation by the introduction of BU and "prooflike", difficult to photograph. In that sense, the low mintages are a sign of low interest.

Standard disclaimers: if anyone is interested in collecting proof sets that's none of my business. Coins are not a suitable investment.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.