So I was checking out my proof sets and came to the realization that mint packaging is sometimes really crummy. Here are a selection of the worst of the worst: "Blushing Ben" "Acid Abe" "Jacked Up John"
Southern California for the first two, as far as I can tell. This was the first time I actually took a good look at them since I got them from my grandfather. The last one I just bought as part of a lot last week. The seller guaranteed one silver proof set, but obviously failed to mention that the only silver coin in that set was busted. How would the penny grade if submitted?
On a related question, how would a circulated proof (ie one you found in change) grade? Would it be a PF-(less than 60)?
Yes, I remember yesterday in a thread "post a proof coin" seeing a well circulated example that was indeed a proof that found it's way to change.
I've found a couple so far - one nickel and one Garfield dollar. Seems like too much trouble to break a coin out of the holder just to spend it, but whatevs...
You don't need to break US mint proof set holders to get the coins out. Check along the edge; there should be a seam. You might be able to open it with bare hands, but sliding a knife or other thin object in there will help a bit.
You mean "oh the humidity," right? Lol (Even though he lives in Southern California I couldn't resist)
Dealers and some collectors often do it. They don't open the set just to spend the coins, they open it to extract a coin or two that they believe will grade out as a 70 to submit them. The rest of the coins are not worth submitting and are so common that they don't command enough premium to go to the trouble of holdering, inventory and trying to sell them. (they might have spots scratches or another problem) So they just spend them.
This is what I do. After all, exactly what is the retail value on a generic, non variety, non cameo 1968-s Roosy or Lincoln?
It's a question of time/effort and space vs the minuscule profit you can make on the coin (if any). Certain coins are just literally not worth the effort of packaging for sale or carrying to a show.
Good point. I remember buying a proof nickel for 60 cents once. Cost the store 50 cents just to sell the thing, probably...
