Mint/Proof Sets: another question!

[mlovest]

Should the mint and proof sets be left in their original mint holders? What are the pros and cons? What are the options? Seems like a number of my sets have minor cracks in them anyway...

 

Thanks!

Mike

[nwcs]

It depends. For many sets, the individual coins are worth more individually than as a set. HOWEVER, this is true for coins that grade well. Coins that are not top notch are probably more valuable in the original holder. And if you are thinking about slabbing, you should make sure to factor the certification cost into the equation.

 

Personally, I do not like the idea of breaking up sets. I have broken up only one so far. And I was disappointed in the results.

[gmarguli]

I assume we are talking about modern sets. If so, there is no advantage either way. Collect them as you like since they aren't likely to go up in value a lot regardless of which way you collect them. Perhaps a better way of putting that is that there won't be any major price difference based on how you have them. Original sets aren't likely to bring a big premium.

[BillJones]

The only way that the average collector can make money by breaking up modern Proof sets (circa late 1950s to the present), is if he or she gets one or more individual coins slabbed by PCGS or perhaps NGC with VERY high grades like PR-69 or 70 on them. Currently there are collectors who will pay somewhat to very high prices for these coins. NGC is also slabbing complete Proof sets (removed from their original packages), but we have not seen enough of them to tell what the market might be on those.

 

Most collectors prefer to buy their modern Proof sets in the original holders. Some collectors do break up sets so that they can put the individual coins into albums with business strike (MS grade) coins. Quite often it has been my experience that this is done far more for collector satisfaction than value enhancement. More often than not these coins tone badly in the albums and lose much of their value. My advice is to leave the coins in their original holders. They are far more saleable that way.

 

At any rate I would not hold large numbers of modern Proof sets as investments. Historically sets that are 20+ years old sell for low prices, often lower than their issue prices. Quite often most of the collector interest is during the years just after the sets are issued Over time the interest in them declines and so do the prices.

[sanmary]

As Greg stated, if modern there really is no advantage either way. However for the older sets there could be some value to seperating your set(s). The older you get the more valuable for the most part, mainly due to less being minted and thus less available especially in higher grades.

[BillJones]

Most of the older sets (1936 to circa 1954) that are offered today in non-mint holders (e.g. Capital Plastic) contain lower Proof grade coins that cannot be sold as single pieces for premium prices. The only sets from this era that are worth breaking up are those that contain high grade coins that are at least going to make PR-66 or higher OR one of the cameo designations.

 

If you purchased some older sets long ago, you may have some superior coins in the sets. If you purchased them recently out of the mint packages, chances are they are PR-63 to 65 coins that don't bring big premiums as individual coins.

[DonHeath]

Mike,

 

If you intend to keep the coins, there's no hurry to remove them from the original packaging unless it represents a hazard to the coins. Some of the proof sets from the early 50's had staples that rusted, etc. For those sets, the original packaging might represent some risk to the coins.

 

As for getting them holdered, you can always do that if/when you intend to sell them if you believe they will command a premium based on their grade. They'll likely be holdering coins for many years to come. JMO

 

If you intend to sell them now, the question is more complicated. Many (not all) modern collectors are beginners, and as beginners are unsure of the relative value of a coin without a holder. I think this is more likely with moderns than with classics, hence the popular belief held by many that most of the premium for these coins is for the holder and not the coin. If you believe you have coins in your sets that are truly exceptional, it might make sense to break up the set and holder the coins. If the coins are not exceptional, you're wasting your grading fees. There are many moderns sold every day for $5 in $10 holders. Spend some time looking at price guides and auction results, and you'll quickly discover which coins are likely worthwhile to holder in exceptional condition. Condition rarities have to be exceptional.

 

[cladking]

The sum total of the parts in most all mint and proof sets exceeds the price of the set on the retail or the wholesale market. There are many exceptions particularly among the proof sets but this pattern has persisted for many years. Significant percentages of some dates/denominations can not be sold on the wholesale market so this greatly complicates any consideration of relative value. For instance only a little more than half of the Denver halfs in 1980 mint sets can be sold as uncs. Don't expect to get your money in slabbing coins from these sets because only about one coin in a thousand will be worth slabbing. But the fact is that most dates of mint sets and many dates of proof sets are worth more as singles than as sets. And for those dates for which this is true, it will be true for about 95% of individual sets.

 

It is this which has caused the tremendous attrition of these sets. When these sets accumulate on the market they generally end up being busted and this has been going on for decades. It is the cause of the vast numbers of mint and proof set coins found in circulation. These are the coins which are too low grade for wholesale or the result of carelessness of the original purchasers.

 

Whether you keep these sets intact or not is a matter of personal preference but there is rarely great cost to not keeping them together. Some of these coins perhaps should be removed and stabilized prior to proper storage. Some coins like 1984 cents are decomposing in the packaging. '68 quarters are found dark and there are others which are not faring well in the original holders.

 

In the long run only the coins themselves will have value though it is quite possible that at some point in the future the original sets will have a significant premium.

[EZ_E]

Actually, the 1956 proof set has nearly doubled in value in the last six months. The 1955 has also appreciated at least thirty dollars in the same time.

 

I prefer to collect proof sets in the original holders and displaying them in the Eagle album designed specifically for them.