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Breaking Up Mint And Proof Sets

 
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Author Previous TopicReplies: 13 / Views: 749Next Topic  
Pillar of the Community
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 Posted 10/21/2020  1:19 pm Show Profile   Bookmark this topic Add twslisa to your friends list Get a Link to this Message
These topics were discussed here several years ago, but I wanted to revive the question and see if people had any new thoughts.

I saw a video the other day where a collector advocated breaking up mint sets, especially 1965 if the coins were DCAM and the quarter was in great condition. He argues that the quarter itself is more valuable than the entire set. I did a little googling and couldn't find a value for a 1965 SMS DCAM set, so I can't verify. But even with coins that are NOT DCAM, the PCGS price guide for the 1965 SMS set is $11 (the price guide is frustrating because it doesn't show the effect of the condition of the coins). Taking each coin at a 64 grade, it looks like you could get better than $30 if you sold them separately. I know, that's peanuts either way for most serious collectors, but the point is it looks to me like the values go up if you separate them. OTOH, the more sets that are separated, the more rare a complete set will become and that is likely to raise the value over time.

A quick bit of research on a 1954 proof set says the same thing, though the difference in value between the set and the individual coins at PRF64 isn't as big.

Thoughts, anyone? I do have mint and proof sets (thanks to Grandpa). I don't plan on selling them. Just curious.
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 Posted 10/21/2020  1:30 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I break mine apart to fill album holes because that is how I most enjoy them. It is most definitely cheaper to fill the holes this way than to buy them all individually. If you think you will enjoy them more in albums (or other other holders), then feel free to break them up.

You said that you are not selling (bravo to that, I am sentimental myself), but if you are thinking about future value then leave them intact for now. You can always break them up later and if for some reason any of them before more valuable in their original packaging then you would still have that option.
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 Posted 10/21/2020  2:26 pm  Show Profile   Bookmark this reply Add mtuma3 to your friends list Get a Link to this Reply
New ones - I buy extras for my grandkids, then I keep a set intact, then I use one for albums.

Old ones - I broke them up for my albums, and some I broke out and put in airtites to get them out of the old plastic they came from the Mint in.

This is how I keep my 50's sets (This is my '56):


Mark
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My7070
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 Posted 10/21/2020  3:10 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
This is how I keep my 50's sets (This is my '56):
Looks fantastic!
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 Posted 10/21/2020  4:24 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
1965 SMS are the last ones you want to break up; literally.

All 1964 to 2005 mint sets other than '66 and '67 probably should be split up because the plastic is going to wreck the coins. This especially applies to the '68 - '71, and the '74 to '84 and these should be the first to have the coins removed and stabilized for proper storage. Most of these sets are worth more apart than together anyway. You gain by cutting them up and protect the coins for future generations.

'65 sets can be quite valuable but most of the coins in these have little or no premium. There are numerous rare varieties and high grades that are worth a lot of money. But this packaging is a little more stable than the other dates so protect them first. Also this date is worth more intact than it is in rolls. There are buyers paying 35c just for the envelope.

A lot of '65 sets have been destroyed over the years and more than a few have deteriorated because of the poor packaging. Now that collectors are taking a closer look at the coins they are finding them far scarcer than had been believed. '66 and '67 sets can be opened and reassembled meaning fewer have been destroyed and the '65 is rising to become the key date. Bare in mind though that the '66 and '67 tend to have nicer coins.

I no longer trust any plastic packaging used by the mint. While the later ones are apparently stable now there is no reason to believe it will be in 25 or 30 years.
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 Posted 10/21/2020  4:30 pm  Show Profile   Bookmark this reply Add cladking to your friends list Get a Link to this Reply
Proof sets since 1968 are far more stable. However most of the zincolns will be destroyed by rot in 50 years. If you care about these they should be removed as well. Already about 25% of poorly stored sets have bad pennies. The problem is almost certain to accelerate since damage to the plating and underlying metal can be cumulative.
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 Posted 10/21/2020  6:48 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Adding to CladKing, this I would do myself for those reasons. If by chance you are fortunate to come across one intact with DCAMS, and not going to handle them often, leaving them as is would be the way to go.
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 Posted 10/21/2020  7:11 pm  Show Profile   Bookmark this reply Add jmkendall to your friends list Get a Link to this Reply
Something not fully appreciated is that for all the silver sets, including the 40 percent half, fully half of them were broken open and melted in 1980 and 2011. Just my opinion as a coin dealer who saw saw hundreds of mint and proof sets broken up with the silver coins thrown in the melt box and the rest sent to the bank.

That is just my experiance. I would be very surprised if more than 10 percent of the 60 to 64 mint and proof sets exist in their original packaging.

As for the SMS, the numbers are a bit deceiving. I put a set out and it is usually bought within the week.

I remember during the "Great scraping" in 10-11 people bringing proof sets to scrap by the box load. People got very greedy back then. I rememeber one woman bringing in a silver place set that had been in her family for generations. A little research showed it was almost 200 years old. No I didn't scrap it.

To put it into persepctive, I wholesale my 71 and up proof sets for $2.25 each....and have a hard time finding buyers then.
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 Posted 10/21/2020  7:37 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply
I love that display case, mtuma3! Where did you get it?

Yeah, cladking, I noticed the 1964 pennies were looking pretty bad. Do you think an acetone bath would do any good at this point? Is acetone a good idea with proofs in general?



One last question; I see on eBay that some people are selling the coins still sealed in the Mint envelope or box. Why is that supposed to be a good thing? Don't people want to see the coins?
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 Posted 10/21/2020  7:42 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply

Quote:
Do you think an acetone bath would do any good at this point?


that coin is beyond an acetone bath.. no saving it now..
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 Posted 10/21/2020  8:46 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply

Quote:
that coin is beyond an acetone bath.. no saving it now..


I was afraid of that.

Is it bad to use acetone on proofs? I suppose it doesn't much matter with the pennies—they're ruined already. But there are a couple other proofs in Grandpa's collection that look a little hazy and I was wondering if acetone would do any good.
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 Posted 10/23/2020  09:02 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I always get a few sets of each but break out all the coins for my Albums.
just carl
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 Posted 10/23/2020  09:58 am  Show Profile   Bookmark this reply Add mtuma3 to your friends list Get a Link to this Reply

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I love that display case, mtuma3! Where did you get it?


They are made by Guardhouse. I think I bought those years ago from Wizard coin supply, but I don't know if they carry them anymore. I think Coin Supply Express has them. You have to get the full size airtites that have the inside sized to the coins. They were pricy (prob a lot more now) but I liked them...
Mark
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My7070
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 Posted 10/25/2020  1:00 pm  Show Profile   Bookmark this reply Add twslisa to your friends list Get a Link to this Reply
I do too. I may get one or two for the better proof/mint sets.
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