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 Replies: 13 / Views: 4,039 |
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New Member
United States
41 Posts |
From reading the posts in this forum I see alot of the members here crack mint sets open for different reasons. I've been collecting ch proof-63 will they be worth more left alone,or it doesn't really matter and put them in dansco album.
Thanks for any insight...
Lori
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Pillar of the Community
United States
1388 Posts |
It's all about preference... Some people think it's sacreligious to crack a set open, and some crack out every set that lands in their hands... It's a matter of how and why you collect...
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Pillar of the Community
United States
790 Posts |
I've always believed that the set crackers are changing the mintages on sets in such a way that supply and demand is going to figure this out eventually. Full sets can be cracked any time you want, cracked sets can never be returned to full sets again.
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Bedrock of the Community
United States
11951 Posts |
I order mint and proof sets each year. The last few years I order two each, one to break one to keep.
In my opinion, most collectors that crack sets, do it just to fill their albums.
I for one like to have the sets. In fact, lately I have been putting together duplicate collections, instead of breaking open sets I have, I buy other sets to break open.
Of course there are, or have been big dealers in the past that break sets on a large scale to sell complete sets to the public. But you still have to get back to the mid 1950's before the sets get hard to find.
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Pillar of the Community
United States
7123 Posts |
Not all coins in the sets are created equal.
why sell a set for example the 1960 P&D mint set which has a current value of around thirty dollars, say you keep the set and you die(it happens to everyone eventually) your heirs take that set to a dealer who offers them 25.00 pulls the MS-65 60-D half out of it which is around a 300.00 coin, I cherry pick every set keep the gems and dispose of one way or another the rest of the coins, either by giving, or albums, or selling the lesser coins that are left.
Its really no different than collecting one gem coin at a time except you cut cello to get to the coin instead of cracking plastic in a slab or cherry picking the coin in other venues.
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Pillar of the Community
United States
581 Posts |
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Valued Member
United States
290 Posts |
I have always thought of it like Jays-Dad. While a cracked set may be worth more, full sets are constantly being cracked. I wonder if a full set's value will one day be worth significantly more than the parts.
I don't collect to sell later. So I am not worried about the immediate re-sale value (though I take that into account when I purchase something). When I buy, I hold. Anyway, it's something my grandchildren will have to figure out in about 40 years from now (hopefully longer).
So I say, don't commit coinseticide.
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Moderator
 United States
187446 Posts |
Quote:
...most collectors that crack sets, do it just to fill their albums. I am one of those people.  At least when it comes to the proof sets; I do not collect mint sets. Quote:
...full sets are constantly being cracked. I wonder if a full set's value will one day be worth significantly more than the parts. Logically, it should. However, I see no shortage of intact proof and mint sets at the coins shows. It may happen, but I do not see it happening any time soon. |
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New Member
 United States
41 Posts |
I appreciate everyone's insight on this topic...
I can really relate to metalman, my neice has my gun collection and boats and other toys when I pass, but hey at least the kid is straight forward, aunt lori when you die can I have this...Outta the mouths of babes...
Thanks again
Lori
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Pillar of the Community
United States
1208 Posts |
Two comments, which are very closely related...
*Full sets will never be worth more than the same loose coins.
This is because of the cherry picking. Sooner or later, only
complete sets remaining will be sets of sub-standard coins.
*I notice as time goes by, original packaged sets are uglier
and uglier. Again, because of the cherry picking. Try to find
an attractive 1972 mint set... If you were around in the 70s,
and collecting, I bet you have a much harder time finding a
pretty set today than you did back then.
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Pillar of the Community
United States
2270 Posts |
Quote:
*I notice as time goes by, original packaged sets are uglier
and uglier. Again, because of the cherry picking. Try to find
an attractive 1972 mint set... If you were around in the 70s,
and collecting, I bet you have a much harder time finding a
pretty set today than you did back then. With some dates this is a huge factor. There's also a problem with corrosion on some dates. With other dates it's much less of an issue because the picked over sets tend to get cut up just like the good sets. The only sets remaining tend to be those that aren't even checked yet. This really depends on the set premium. Those sets that the coins total less than the value of the set are all destroyed while those with a premium are cherry picked. Quote:
*Full sets will never be worth more than the same loose coins.
This is because of the cherry picking. Sooner or later, only
complete sets remaining will be sets of sub-standard coins. I, personally save a few cherry sets of each date. It's very unlikely there are many people doing this and average quality of sets is decreasing somewhat for all dates and very substantially for a few dates. Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2270 Posts |
It can be very tough decision whether to keep sets intact or destroy them. It's not only the US sets but a whole world of mint and proof sets as well as FDC sets (similar to SMS) and pieforts. Some of these sets have enormous set premiums like some of the late '60's Japanese mint sets. The coins can be worth as little as a few dollars and the set $500. How do you protect the coins when they are in substandard packaging and there is an enormous set premium. It's the same with the Russian mint sets. These are all extremely low mintage and contain superb coins But some of the packaging is unstable. One of the '70's sets cost $100 to open but might be a total loss if you don't.
I'm cutting a 1954 Indian proof set with a large premium. Last year this was listed as a $50 set and this year it's $1250. The premium is about $150 but I don't think the packaging is stable.
These can be tough decisions in many cases but with most of the US sets it's much easier. Most of these trade at a steep discount to the value of the coins in them. In other words the set is worth more apart than intact.
It is possible there will be a set premium some day but I don't think this premium will ever exceed the premium associated with superb coins. The better bet is probably to seek the better coins. They also take up a lot less room in storage if you just save the gems.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
5601 Posts |
I have been collecting Proof/Mint sets for a very long time.I have obtained sets from the early 1950's to date, only ALL original you S Mint packaged sets with all the paper work that came with them.
I have "cracked" a set or so to fill the addicting empty holes we find in ALL our albums, I also try to collect a full set for each year of both as they become available, I will say the quality I find while searching older sets is "not as crisp" as it was years ago.
I also feel the statement about the full sets becoming scarce is a valid point, it might not be today that you will not be able to locate some 1970-S small date Proof/Mint sets but IMO, it is NOT a matter of if, just a matter of when, these original sets will be at a very high premium, and the quality of the coins with-in these sets will dictate the height of the premium of that set, just my opinion, I would also agree the sets up to the mid 50's are around, but costing more and more every year that passes! Enjoy the hunt, Mike
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Valued Member
United States
151 Posts |
Speaking of packaging: I have a 1954 proof set in the box. The penny through quarter look pretty nice but the half has some brown discoloration. It looks like the staple in the cello rusted at some point and discolored that end of the half a bit.
Does that kind of thing lower the grade? I see toned coins grading high. I personally like an untoned coin but does it matter to the coin community in general? Is uneven toning bad?
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Replies: 13 / Views: 4,039 |
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Posted 07/01/2010 12:09 pm
