In light of my post last night, I have decided to write a very similar article, but about proof sets. For the purposes of this post, I will focus strictly on proof sets from 1950 to 1955. This is because these sets contain exclusively Franklin half dollars while earlier sets contain Walking Liberty half dollars, which are a bit more complicated. Additionally, later proof sets from 1956 to 1963 also contain the Franklin half dollar, yet they are not nearly as valuable as their earlier counterparts.
Proof sets from 1950 to 1955 can be found in an extremely reasonable price range. While sets from 1950 can run a collector up to $600, a 1955 set can be purchased for no more than $30. When the sets contain average coins, a collector can expect to make their money back from the purchase, but no more. With sets who's coins are hairlines and ugly, a collector who pays fair market value for the set may lose a bit. However, a savvy collector who only buys sets that have superb coins can make unbelievable profits.
Just recently, in January, I was at a coin shop in Bozeman, Montana. It was called Williams Gallery, and the owners and selection of coins were great, but that is slightly beside the point. While at the shop, I had the opportunity to look through dozens of proof sets from 1950 to 1955. However, though the vast majority of the sets looked pretty good, I only bought one set. That's right; one set. The 1953 set that I elected to buy contained a superb 1953 half dollar. Not only was this coin extremely high grade, but it had cameo contrast. This is to say that the fields were black while the devices of the coin were white and frosty, as seen in the attached picture. While I paid $175 for the set, the 1953 half dollar within it graded PF-67 Cameo at NGC and is now worth $800. The set without the half is worth about $100, so my overall profit was around $725.
However, though my profit was great, it isn't even close to what could be out there. Take a 1950 proof half dollar. Such a coin in average condition is worth around $300, and the set that contains it is worth around $600. However, a 1950 proof half dollar that graded PCGS PF-66 Deep Cameo could realize up to $55,000 at auction. Can you imagine finding one of those in a 1950 proof set?
All that being said, the the takeaway is this. Always make sure to buy sets that contain superb coins, even if they do cost a little more. It is always worth it to buy premium coins
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