Proof And Mint Sets

I just broke one open to use in my Dansco 7070. It had no box and the lid was broke. Albums are one of the main reasons they are broke open. The S mint spot can only be filled with proof coins in the later years. If you want one of every kind of a certain coin the proofs must be in. Also gets mint sets cut up for specific coins. Then someone passes away and a grandkid takes them out of the book and to the bank or a crook takes them and spends them for cigs, thats how they get into circulation.

I think you are correct about the ones in change just being a reflection of people not realizing that proof coins are worth more than face value. Of course, one could say the same thing about high-end circulation strike coins as well. Or silver coinage, for that matter.

I break open proof sets for my Dansco album holes and see nothing wrong with it, as long as the coins are handled with proper care. I actually like the contrast next to the regular-strike coins. But, to each their own.

I have cracked them open to fill my albums. I am using "w/proofs" for my Albums. It's less expensive this way.

I've found that a lot of proof sets from the fifties and early sixties have problem coins in them. Scratches from people squeezing the plastic against the coin or black soap spots on the coins are common. I have a local dealer with a lot of old yellow envelope proof sets. I searched about 20 sets and finally gave up because I couldn't find one set in which all five coins were problem-free or even remotely acceptable as a collector coin. In this case I would have no qualms about breaking out individual coins to be slabbed.

These sets have been getting cut up for decades and it seems to just accelerate all the time. Even 30 years ago the sets were being dismantled in large numbers for dealers who make up complete sets of moderns. Attrition on some of the late '60's sets is probably getting close to 50%. Mint set attrition exceeds 70% in all probability and many of the survivors are either substandard or have corrosion issues. There's one dealer who brags that he filkls up a dumpster every week with the packaging and most sets get destroyed one or two at a time by collectors assembling denomination sets.

As soon as the price of the parts exceed the price of the set many dealers will destroy every set they have of that date and sell rolls. Many of these rolls are bought intact by collectors but most are used to make up denomination sets. It's not only cull proof coins in proof sets that get into circulation but many mishandled proofs will be spent by collectors and dealers. Dealers pay very little for late date coins usually so will just have an employee strip modern sets to put in the cash register. There have been times in the past that wholesale prices have dipped to little more than double face value on sets so if a dealer could sell the half dollar and cent at a good premium the other coins were surplus and spent.

Saving intact proof sets might be a good idea but I'd strongly recommend that you try to save good quality sets rather than run of the mill ones. I think of the discount for intact sets as paying a premium for not cutting them up.

Many people think that the sets get busted up for the high grade coins and this really does happen but most are being destroyed just to get the typical coins. In the old days most dealers didn't even pull out the finest examples but it's safe to bet they all do now. These rolls are extremely good quality since for every coin they pull out for slabbing they'll pull out ten to spend because they are poor quality.

I like them too, but I don't want piles of boxes of coin sets sitting around, which is why I just try to stick with silver, outside of my copper investment that is.. I see so many complete sets for sale, sounds like the good sets must be the more broken up ones, and then later, eventually going to be harder to find. I have to agree on the quality of mint sets though, I purchased two 2009 mint sets, one not in the box, and some of the coins, the ones I bought it for, are damaged through the plastic, the other set, unopened, who knows.

Same with me.