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Replies: 15 / Views: 2,133 |
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Valued Member
United States
413 Posts |
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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Bedrock of the Community
 United States
12477 Posts |
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. 
In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
1374 Posts |
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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Pillar of the Community
United States
1346 Posts |
As the price sticker states, it's a "year set" not "mint set."
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Pillar of the Community
United States
2271 Posts |
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.
Time don't fly, it bounds and leaps.
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Rest in Peace
United States
17900 Posts |
$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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Pillar of the Community
7234 Posts |
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
United States
992 Posts |
The price was fair. If you like it, even better.
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Valued Member
United States
65 Posts |
Thanks for sharing and all the responses. It's always a good day when I learn something.
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Bedrock of the Community
 United States
12819 Posts |
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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Moderator
 United States
188213 Posts |
Quote: The price was fair. If you like it, even better. I agree. 
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Bedrock of the Community
Canada
24885 Posts |
Nice coins ...for the price you paid 
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Moderator
 United States
15422 Posts |
You are good for the price.
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Pillar of the Community
United States
2271 Posts |
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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Valued Member
 United States
413 Posts |
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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Replies: 15 / Views: 2,133 |
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