Prices are on the rise for the March of Dimes silver proof set on the secondary market. If you own one or are thinking about purchasing a set, be sure to read on so you can keep up to date.
The United States Mint first reported the set, containing a March of Dimes proof silver dollar, a silver proof dime from West Point and a silver reverse proof dime from Philadelphia, as currently unavailable on May 12.
Secondary market buyers have been treating it as sold out, which it essentially is, as the Mint reported May 26 that 74,806 sets of a mintage of 75,000 were purchased. However, the set briefly returned to the Mint store May 22 before becoming unavailable again and may continue to do so as the Mint sorts through returned sets.
Many original purchasers have yet to receive their back-ordered sets. The Mint stated the back ordered sets would not be ready to ship until August. However, some buyers are now reporting their back-ordered sets are shipping out.
Despite, or perhaps because, a number of the March of Dimes sets have not yet reached customer hands, the market is on the rise.
Sealed boxes of five sets, originally priced at $61.95 a set by the Mint, started trading around $450 to $470 on May 13. By May 26, five auctions concluded with boxes selling for $545 to $575. This is an increase of 85.6 percent from issue price and 22.3 percent from secondary market trading May 13.
Even opened, single sets are seeing price increases, going from $90 in mid-May to anywhere between $100 and $110 by May 27. This is a jump of 22.2 percent.
Third-party graded March of Dimes sets are beginning to arrive on the market. Sets with all the coins graded by PCGS or NGC Prf-69 and designated early release or first strike can be purchased for $145 to $165 each. Taking into account purchase price, grading fees and shipping costs, Prf-69 sets present a very small profit.
On the other hand, PCGS and NGC graded Prf-70 sets have paid off well for themselves as several auctions show collectors willing to pay $335 to own one. Other sellers and companies have priced Prf-70 sets higher, so a true market value has yet to be determined.
Keep a close eye on the prices as the rest of the sets ship out and more are graded. Economics says the prices will come back down then, but collectors know anything can happen in numismatics.