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Buying pre1955 proof sets in original mint boxes  
 

 
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 Posted 02/13/2018  04:40 am Show Profile   Bookmark this topic Add MikeF to your friends list Get a Link to this Message
I'm curious if there is any monetary incentive in buying old pre1955 proof sets. How easy are they to open? Is it a safe assumption that most have already been picked through?

I need to buy more product for an upcoming show. I see these for sale but I'm questioning how easy they are to open and reseal.
Hi, my name is MikeF and I suffer from Seated dollar fever. Starting a twelve step program next week.
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 Posted 02/13/2018  08:09 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
once opened they can't be resealed. Buying unopened boxes is like buying a lottery ticket, but you will get something for your money. Find a Franklin cameo and all is well.
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 Posted 02/13/2018  08:30 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Most all of them have been opened to pull out any rainbows or cameos , actually I don't believe any cameo proof coins existed back then . So Unless you attempt to buy these sets from an old time collector who bought the sets from the mint way back when the cost of a gallon of gas was $.20 ., and has since passed OR took an 80 year Hiatus, I would be very cautious .
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 Posted 02/13/2018  08:41 am  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply
I have the '50-'55 proof sets in the original unopened boxes. Not sure that there's any monetary incentive in buying them. Could probably sell them for more than I paid, but rather have them as is, saving for a rainy day to open them. Hard to make a profit on them, they're pricy. Tough to open and reseal, but it's probably been done. When I do open them, will post youtube videos....stay tuned
Edited by edweather
02/13/2018 08:42 am
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 Posted 02/13/2018  09:15 am  Show Profile   Bookmark this reply Add muddler to your friends list Get a Link to this Reply
I see no additional value to coins in a box unseen. buy the coin not the holder.
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 Posted 02/13/2018  09:24 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
There is no way I could buy a sealed box and it remain sealed.

Then again, there is probably no way would I buy a sealed box anyway. Buy the coin, indeed.
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 Posted 02/13/2018  10:01 am  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply

Quote:
There is no way I could buy a sealed box and it remain sealed.


Well, I'm not normal. Was the only kid who would eat the Oreo cookie part first, and save the frosting for last.

Sorry to digress, didn't mean to take the thread sideways.
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 Posted 02/13/2018  10:32 am  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply

Quote:
Most all of them have been opened to pull out any rainbows or cameos , actually I don't believe any cameo proof coins existed back then .


That's what I feared. I didn't do a very good job of wording my question. Heritage has some of these for sale coming up in an auction but the bids already exceed the listed value by PCGS. Also I noticed that Heritage didn't list them as unopened. https://coins.ha.com/itm/proof-sets...dLots-101116
Hi, my name is MikeF and I suffer from Seated dollar fever. Starting a twelve step program next week.
Edited by MikeF
02/13/2018 10:33 am
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 Posted 02/13/2018  12:02 pm  Show Profile   Check TNG's eBay Listings Bookmark this reply Add TNG to your friends list Get a Link to this Reply
The five crinkly cello packets these individual proof coins were originally in, inside the box, caused the proof coins to darken and blacken. The cello also often deteriorated and fell apart. Sometimes with very negative results. I believe they were stapled together at the top. Sometimes the staple gets rusty too which also causes problems.
I would not buy one unopened unless it was at a good price and only if I was going to then open it myself.
To keep it unopened does have that lottery scratch off ticket appeal I suppose.
I do think there were cameo coins found in the 1950 to 1955 boxed proof sets, since there are such cameo examples out there from those years.
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 Posted 02/13/2018  12:13 pm  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply
Heritage is being a bit sneaky with those proof sets. They are probably opened, but "look" sealed. Went back into their archives, and if a set is original and sealed, they mention it. Now those mint sets on the other hand, they look nice.

https://coins.ha.com/itm/mint-sets/...ction-120115
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 Posted 02/13/2018  1:24 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
The five crinkly cello packets these individual proof coins were originally in, inside the box, caused the proof coins to darken and blacken. The cello also often deteriorated and fell apart. Sometimes with very negative results. I believe they were stapled together at the top. Sometimes the staple gets rusty too which also causes problems.



IMHO buying a truly unopened PS from that era is just asking for coins you wouldn't buy if you could see them. You MIGHT get lucky and get some nice coins, but the odds are not in your favor.

Of course if you don't plan on opening it and are going to to try and flip it to someone else foolish (or wise, take your pick) enough to buy an unopened set, then go for it.
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 Posted 02/13/2018  1:53 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Cameo proofs certainly did exist back then - I have several from the major TPGs.
"The value of something is what you can sell it for the same day you bought it."

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 Posted 02/13/2018  8:20 pm  Show Profile   Bookmark this reply Add MikeF to your friends list Get a Link to this Reply

Quote:
The five crinkly cello packets these individual proof coins were originally in, inside the box, caused the proof coins to darken and blacken.


I'm surprised that doesn't make Ed want to open and check his. We will be here with if you do!

Thanks for the feedback, gang. I don't understand why they got bid up to these levels.
Hi, my name is MikeF and I suffer from Seated dollar fever. Starting a twelve step program next week.
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 Posted 02/14/2018  4:56 pm  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply

Quote:
I'm surprised that doesn't make Ed want to open and check his


Not sure if I want to open them now, can probably find another fool to pay more than I did
Edited by edweather
02/14/2018 4:56 pm
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 Posted 02/14/2018  5:10 pm  Show Profile   Check Andrew99's eBay Listings Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
I know a guy that carries sealed proof sets from 54-64 and sells them at a premium. I used to buy a few. The odds are against your pulling a decent cameo so I don't do it anymore. Especially since you can go through proof sets at shows and pick out nice cameos anyway. Most dealers don't play the split up and sell individual coins as its not worth the effort. I've gotten pretty nice cameos from opened sets at a small or no premium this way.
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 Posted 02/14/2018  5:16 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Not sure if I want to open them now, can probably find another fool to pay more than I did
I do not doubt it.
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