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Bought this mint set but no wordings of "The United States Mint Set" on it  
 

 
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United States
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 Posted 12/07/2017  01:16 am Show Profile   Bookmark this topic Add Carrigna to your friends list Get a Link to this Message
I bought this mint set from LCS (local coin shop). I was puzzled that there is no wordings "The United States Mint Set" on it yet there is a token from the Mint.

The dealer said it is from the bank? I was puzzled but I simply wanted it because of JFK half dollar.

Is the price good? Also, is it from the Mint or what?

Please advise.

Thank YOU for your input/advice/sharing your knowledge in advance.


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 Posted 12/07/2017  01:22 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply
The Uncirculated set should be in cellophane. That is a Mint set but, in a lens like the proof set came in. It's not from the U.S. Mint. I don't know where it came from.

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United States
141 Posts
 Posted 12/07/2017  07:28 am  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
I was puzzled that there is no wordings "The United States Mint Set" ...
That's because it's not a US Mint set and it isn't a US Mint product (although the coins are ).

They're just uncirculated (hopefully, because the case doesn't indicate that) D mint coins from 1995 that your LCS has: 1) put into a green insert similar to what was used for proof sets, 2) added a D mint token from a broken up actual D mint set, 3) put the insert into an empty US proof set like lens and 4) then called it a mint YEAR set.

It's just the way that your LCS is marketing these coins instead of selling them individually. Whitman sells hard plastic cases that you can use to make up your own YEAR sets, but by doing it this way, your LCS is able to add the D mint token which the Whitman cases don't have a space for.

I've seen a VERY few coin dealers market coins this way, as it provides a storage case that fits well with actual proof sets, but most who sell year sets just put the coins into a Whitman case.

As far as the price goes, you can get an actual complete (P & D mint coins) 1995 US Mint set on eBay for $6.45. You paid less than half of that for half of the coins, but the coins came from bank rolls. In 1995, there wasn't any difference between uncirculated bank roll coins and mint set coins. So, as long as you're okay with not having the coins in a US Mint cellophane package, then the price was probably okay. Especially with the increased cost (to the LCS) of the provided packaging.
Edited by BadDog
12/07/2017 07:54 am
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 Posted 12/07/2017  08:13 am  Show Profile   Check 999fine's eBay Listings Bookmark this reply Add 999fine to your friends list Get a Link to this Reply
As the price sticker states, it's a "year set" not "mint set."
Still trying to complete my Dansco 7000.
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 Posted 12/07/2017  11:39 am  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
That is what is known as an "Uncirculated Bank Set".

I do not know how widely marketed these were but suspect they were not nationwide. They appeared in banks in the Chicago and NW Indiana area though. The earliest date I've seen is 1989 and the latest is 1998. The Philly coins came in a green box with certificate of authenticity containing specs and the claim they were only touched with white gloves since leaving the mint. Denver mint coins come in a red box.

These were displayed in bank lobbies and available for sale for approximately $12 each.

I have seen boxes with the name of the bank embossed in it (wouldda bought it if it weren't about 12 bucks).

The coins are obviously straight out of regular US mint sets and are of this quality. There are Gems in these sets but I've seen dozens of the sets and never seen a spectacular coin in one so suspect they were probably cherry picked when they were assembled. My sample size is still too low to be certain of this.
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 Posted 12/07/2017  11:40 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
$3 bucks. If you like the JFK you are fine. If you asked your LCS about the holder I'm surprised they couldn't tell you.

Either they really didn't know, in which case a cherry picker should eat them up, or they weren't honest. But I really can't see being dishonest for $3.
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 Posted 12/07/2017  2:19 pm  Show Profile   Bookmark this reply Add Mark1959 to your friends list Get a Link to this Reply
91¢ for $2.95.

Oh, by the way – the book I gave you for Christmas has to be returned to the library next week.

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 Posted 12/07/2017  4:04 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Sounds OK to me.
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 Posted 12/07/2017  8:23 pm  Show Profile   Bookmark this reply Add paxbrit to your friends list Get a Link to this Reply
The price was fair. If you like it, even better.
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 Posted 12/08/2017  12:15 am  Show Profile   Bookmark this reply Add lmwstamps to your friends list Get a Link to this Reply
Thanks for sharing and all the responses. It's always a good day when I learn something.
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 Posted 12/08/2017  12:44 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply

Quote:
It's always a good day when I learn something.


And one learns something EVERY day on this site... so, some quick math, and....
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 Posted 12/08/2017  10:03 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
The price was fair. If you like it, even better.
I agree.
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Canada
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 Posted 12/08/2017  10:52 am  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
Nice coins ...for the price you paid
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 Posted 12/08/2017  7:37 pm  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
You are good for the price.
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 Posted 12/08/2017  10:19 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
Coincidentally, the wholesale price based on BU rolls adds up almost exactly to $2.95!!

Since you got a Gem half dollar I'd say you're way ahead.
Time don't fly, it bounds and leaps.
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91 Posts
 Posted 12/09/2017  11:20 pm  Show Profile   Bookmark this reply Add Carrigna to your friends list Get a Link to this Reply
Hi to All Who Kindly Replied!

I appreciate all the replies. I definitely learnt something new today.

Glad I got a good price on this set. :) Phew!!

Now I will be extra careful when buying at LCS.

This coin set will be a nice addition to my collection. :)

Kind regards,

Carrigna



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