Opinions on opening Mint/Proof Sets

I'm working on putting together a few Lincoln Dansco's for my kids, and looking through my current book, a lot of my 70's forward, aren't the greatest looking pennies. Most are in decent shape, they still have mint luster, but browning, dirt, some scuffs, etc. What I realized was that in my quest for completion of the book years ago, I was just putting in pocket change into the memorials. I did this because well, I was more into getting beautiful Wheat's for my book, and the rest was just filler.

With that, I've purchased some new Dansco's: 1909-2009 w/Proofs, 2010 - whenever Shield, and a regular 1909-2009. My plan is to fill up the regular (like the one I already own/owned) book with Wheat's and then as best I can memorials. As I move forward with filling it, I'll do what I can for some uncirculated memorials.

So, I have 1960-present Mint Sets and working on my proof sets, have all 2000's, the 60's, some 70's, 80's and 90's.

What are the opinions on taking coins out of the Mint Sets and Proof Sets? In my lifetime, I don't plan on selling them unless I absolutely have to. I'm just looking for the general consensus. If I come across a seriously cheap set, generally a buck or two over face value, I snatch it up. And with the few duplicate's I have, I'm contemplating slicing the pennies out of them.

All opinions welcome!!

 

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If you open them you are braver than me. When I look at my proof sets I use white cotton gloves and hold my breath. Some say I'm crazy.... I agree with them.

 

Open them, how else can I feed my Dansco's?

 

Well...I didn't read your post before voting. In your case, it probably wouldn't hurt but I don't have Danscos and no plans to open the Mint sets I do have. I figure someone else will do it for me.

 

I sold some of the proofs sets at about face value recently so I see no problem opening them. Plus they have been making more than enough of them for our lifetimes that if you want more of them later you will be able to find them for cheaper than what they cost back then from the mint.

 

There was a time when I thought that liberating sets, both mint and proof, was sacrilegious. I've since overcome that feeling and have absolutely no qualms about cracking coins out of sets today. As LindeDad stated above, there are many sets out there so if you feel regrets on busting out a set you can always go back and replace it. I buy extra sets from the mint for that reason.

 

If you consider coin collecting as a hobby, then by all means, go ahead and open them. However, if you consider coin collecting as an investment, get another hobby!

Chris

 

As cheap as proof sets are I say crack them out!

 

I just got a 1995 silver proof set, and the Kennedy Half looks like it MIGHT be worth slabbing, as 69s and 70s of that date make it worthwhile. No problem with opening proof sets.

 

Truth be told?

Any Dansco Lincoln set built or assembled simply with the intention of "filling holes", is simply an exercise.

A Lincoln Set built with the finest available coins according to funds availability, is a collection.

My advice, since Proof and Mint Sets from 1965 to date are as common as water, is to examine each set and if you can find a "worthy" coin or coins, then open the set. Otherwise, just put it back.

For Lincolns, realize, that regardless of which album you choose, some of them, uncirculated or not, are just gonna turn brown over time.

 

I've got bunches of mint/proof sets from 1970 on. I'm currently going through them and cracking out the coins from each set that are the best to go back into a capitol/whitman mint-set plastic holder (or 2x2 for individuals that I might slab later) to form a couple collections of full mint/proof year sets. My personality is more plastic holder than album, since they store nicer for my needs.

The coins that don't make it end up in plastic tubes for eventual resale. I see rolls of proof coins in tubes up on the 'bay, so might as well use the leftovers to get money back for more stuff. These coins could be useful towards folks like you putting the albums together, so you could leave your mint/proof sets untouched.

I agree with Lyds, if you're just filling holes, put whatever you find in there. If you want to build a nice collection, then go ahead and go for the real nice ones out of the sets. As everyone else said, anything from '65 up is plentiful in supply and you can always go get more.

 

I buy rolls of halves cut from mint cellos and pick out the best for my Dansco. It's a great exercise in grading, and some of the die varieties can be found in the mint sets. I haven't found one yet, but the CPG tells me they're out there.

 

Take them out. They are yours to enjoy with the kids. :smile

 

I've never filled folders but I think part of the fun of filling a folder is finding the coins in circulation. Breaking open a set to use one single penny (Lincoln Cent) is taking short cuts, jmho. If you really want to open them up go ahead but I wouldn't have any proof coins in my folder if I originally started with circulation coins. Again, your coins and your money, your folder and your proof sets.

 

I would have voted "it depends" if that were an option.
I collect mint sets and if I find a set where most of the coins are nice I would keep it intact. Some day, after all of them have been cut up, there will still be collectors of intact sets and I think it is our duty as collectors to pass some of them on for the future numismatists.
Having said that, yes I have cut up some of them. If there's one or two nice coins in the set and the rest of them are dogs, I say cut away!

 

The vast majority of modern mint and proof sets are worth more dead than alive. There's a bounty on them.

Many collectors refuse to bust up sets so their demand in buying singles makes the total value of the coins in a set worth more than the set.

You should be advised though that culls and substandard coins can't be sold at bid. Some coins like '76 type I Ikes are so bad that nearly 50% can't be sold at bid. Most proofs it's only 4 or 5% and mint sets are around 10%.

If you look at five or six mint sets you can usually find a fairly nice cent. It takes more for other denominations.

 

there are so many proof and mint sets to be had. i have no problem busting them open for albums. i usually just buy a couple that way i can bust one open and still have one in the case. i put together a full state silver quarter set. everything was pulled from silver proof sets.

 

I think uncirculated is different than proof. I see partial uncirculated sets on the bay fairly often. So you wouldn't be the first. Alternatively such a mutilated set is of course worth less than a non-mutilated set.

The problem I see with opening a silver proof set is good luck identifying that coin 30 years later. Alternatively if it is still in the mint box, then telling which one is which is easy.

Are you really proposing pulling a Cameo proof out of it's protector just to fill slots in someone's book? Wouldn't the whole concept be better served by simply buying all of book's years proof sets and keep them with the empty folder/book and let the next buyer decide if he/she wants to destroy the proof set collection just to fill the slots in the $2 book?

 

Two dollar book? Danscos go for 38 in a lot of places. These are archival quality albums. I have uncirculated coins in them that are still very beautiful. The ones from circulation aren't so hot anymore.

 

Buying a silver mint set on the open market is iffy to say the least. The current mint holders are real easy to pop open and replace with clad coins. I'd recommend only buying silver sets from trusted dealers or the US Mint.