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Little Bored .. Thought I Would Break Open Some Proof Sets

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oih82w8's Avatar
United States
7840 Posts
 Posted 10/19/2012  11:16 pm  Show Profile   Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
...and what a stash of flash it is!
Edited by oih82w8
10/19/2012 11:16 pm
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BadToTheBone's Avatar
United States
1795 Posts
 Posted 10/20/2012  12:01 am  Show Profile   Bookmark this reply Add BadToTheBone to your friends list Get a Link to this Reply
If I do break open proof sets I do so to use them in my Albums and that would be the only reason. I also check them for errors or if I have a really nice coin maybe even for grading. But I have never tried that yet but I do have a few I've been considering.
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TJB17's Avatar
United States
492 Posts
 Posted 10/20/2012  12:34 am  Show Profile   Bookmark this reply Add TJB17 to your friends list Get a Link to this Reply

Quote:
I had about 20 proof sets and not sure how many mint sets... I also roll up the proof cents and nickels. also been rolling up the Ike's

I've read the entire thread and everyone's responses, and I still don't get it. Maybe I'm a little slow here , but why are you breaking them all up? Are you reselling them?


Quote:
getting in good with a high volume dealer lets me buy set at or a little above face

Hmmm... does this include UC sets from the 2000s? How do you feel about selling some of them? If you haven't already slaughtered them, that is.
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GR58's Avatar
United States
11951 Posts
 Posted 10/20/2012  01:07 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
TBJ let me try to explain why I break sets.
Number one reason, is to fill albums. I did pick up another Kennedy dansco recently, so some went in there.
Two, mint and proof sets are a very bad investment. As other members posted , the coins can be worth more if sold individually.
Three original packaging takes up too much space. Rolls fit into my safe much better
Four there are always some very nice toned coins that I like to 2X2 up ..I guess just to have.

If the extra coins do not fall into any of the above ... Then I take to the bank. This morning I dumped $100 of
Sac's, SBA's, kennedy's and othe proof and mint and satin coins.
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basebal21's Avatar
13014 Posts
 Posted 10/20/2012  02:25 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
Like GR58 said the main reason is to fill albums. Also like Jbuck said most people only collect certain coins so they get them for what they want and then sell or dump the rest.

The mint sets almost always sell for cheaper than their initial price tag over the years so they are a cheap great way to get what you want. Some people also search them for prime examples that sold individually would be worth more than the set so they either save money or make money breaking them up.

Personally I get them to get what I want and sell the rest. Right now I just need the quarters and Presidential dollars so everything else hits ebay or if its a nasty looking coin goes in the change sorter at my bank. It would usually cost me either the same or more to buy just what I wanted (tried it once quality is a big issue that way too) so the mint sets make more sense. I can get what I want and recoup some of the cost. The only sets I leave in tact are the silver ones.
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TJB17's Avatar
United States
492 Posts
 Posted 10/20/2012  08:04 am  Show Profile   Bookmark this reply Add TJB17 to your friends list Get a Link to this Reply
GR58,
I guess those are valid points. I guess I'm still like Jbuck and collect all denominations. I haven't specialized yet, so I just seemed odd to me to take some and dump the rest, especially the proofs. Now I know how proof coins end up in circulation. I've found several proof halves, dimes and quarters over the years in various states of wear from pristine to only knowing it WAS a proof by the S mint mark. No nickels or cents yet, so they must be collected more.

Instead of dumping the proofs at the bank have you considered packaging them up by denomination and selling them in lots? You might not make a ton of money on them, but I'm just thinking of the coin's safety and well-being. If you sell them to a collector who will appreciate them for what they are, they will live a longer, healtheir, shinier life. At the bank anyone can pick them up and they'll say "ooh shiny" and give them to young Cletus to play with and shove up his nose. But it's a free country, for now, and you're free to do what you want with your coins.

One last question, where's your dump bank?
Edited by TJB17
10/20/2012 08:08 am
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 10/20/2012  10:59 am  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
OK, while I do see the point of breaking them open, I do it myself to fill my Danscos, I do NOT see why you would dump these coins at a bank! If you are just going to dump them, let me know! I will pay for shipping and you can send them to me.
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GR58's Avatar
United States
11951 Posts
 Posted 10/20/2012  11:33 am  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
Why do I dump some of the coins?

I go back to .. how many of the same coin does one collector need.
For example - My Roosevelt dime dansco is full .. I have extra dimes boxed in 2X2's
at that point .. how many 1977 S (proof) dimes do you need. There are 10 in the above
pictures.

Just my extra coins add up to hundreds of dollars .. when I do dump the coins it is
when I want to buy other coins .. right now I am putting money into my 7070 gold page fund.
This will help me finish my gold page by mid december.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 10/20/2012  1:03 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
You're having too much fun.
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BadThad's Avatar
United States
19930 Posts
 Posted 10/20/2012  1:34 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Looks like fun! I've walked into my local dealer's place and saw this on a few occassions. His main purpose was to make rolls to resell.
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GR58's Avatar
United States
11951 Posts
 Posted 10/20/2012  1:57 pm  Show Profile   Bookmark this reply Add GR58 to your friends list Get a Link to this Reply
I guess it is fun

And hard sometimes .. when I put some very nice looking coins into the dump pile.

Or the pre 64 sets .. putting the dimes and quarters into 90% silver rolls, to sell or keep as 90%
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Windchild's Avatar
Canada
1411 Posts
 Posted 10/20/2012  2:00 pm  Show Profile   Bookmark this reply Add Windchild to your friends list Get a Link to this Reply
You could go to another dealer to sell those good dumps (cameos, proofs, high grades, satins, etc)

Then you would make money on it and you would reach the gold faster!
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mcshilling's Avatar
Canada
9149 Posts
 Posted 10/20/2012  4:20 pm  Show Profile   Bookmark this reply Add mcshilling to your friends list Get a Link to this Reply
OR you could sell them here on CCF
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kasey's Avatar
United States
110 Posts
 Posted 10/20/2012  7:29 pm  Show Profile   Bookmark this reply Add kasey to your friends list Get a Link to this Reply
Hope you looked for type 2's on the susan b's heh....And I have boxes of broken up sets proof/mint 1950+ some go into sets to sell, rolls, individual resell etc. pretty much anything 1971-2000 has no real value...1957-1970 based off silver content....definitely look for toners though
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DavidZerbato's Avatar
United States
1081 Posts
 Posted 10/20/2012  7:51 pm  Show Profile   Bookmark this reply Add DavidZerbato to your friends list Get a Link to this Reply
I'll take some of those extras off of you.
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