Opening a proof set?

Discussion in 'Coin Chat' started by mac10man, Jan 14, 2007.

  1. mac10man

    mac10man Resident Packrat and mole

    The 1975 proof set lists at $17 in the price guides. But the price of a proof-68 1776-1976 half is $25, the quarter is $15, and the dollar is $20.Not to mention the cent, five and dime. If I have these coins graded seperately they're worth much more.They may even be graded cameo, they're beautiful! BUT. How do I open the holder without damaging the coins inside?
     
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  3. satootoko

    satootoko Retired

    Very, very carefully. :D

    Seriously, I think the most common methods are by sawing it in half, then using a screwdriver or similar tool to "pop" the sides apart on the part with the coin; or using vice grips or something similar to break the edges.

    Always do it over a soft surface to catch the coin if it falls. Personally I wouldn't do it without safety glasses firmly affixed as shattering plastic can throw pieces with a lot of force.
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    Howdy mac - Welcome to the Forum !!

    First of all, forget what the price guides say - they are not accurate, not even close. However, it is true that individual examples from Proof sets, if graded high enough and graded by the proper TPG, can often sell for more than the value of the set. But the hard part there is grading high enough. Then you have to use the right TPG - either NGC or PCGS. And this of course means you also have to pay the grading fees.

    Now then, the grading fees can be $15 - $30 for each coin - that alone pretty much eats up the value of the coin even if they are graded as PF69 DCAM. So, it is not worth even bothering to try. I would suggest that you just keep the set as is.
     
  5. mac10man

    mac10man Resident Packrat and mole

    Is ANACS any good?
     
  6. GDJMSP

    GDJMSP Numismatist Moderator

    Good for what ? In regard to authentification, yes they are good; in regard to indentifying varieties, yes they are good, in regard to accurately grading coins, no they are not. All of this is my opinion of course. It is a matter of fact however that coins in the new ANACS slabs bring poor prices at sale.
     
  7. mac10man

    mac10man Resident Packrat and mole

    Why is that? I'm new to collecting, enlighten me!! I'd like to learn all you can teach me, GDJMSP!!!
     
  8. gxseries

    gxseries Coin Collector

    The new ANACS slabs unfortunately have incidents where the slabs can be opened and then slabbed back without any traces of it being opened. Usually mint sets are worth much more than individual cases - if that's the case, everyone would be ripping all of the mint sets and when that happens, original mint sets will be worth much more.
     
  9. Danr

    Danr Numismatist

    they have gone down hill (ANACS that is). That '75 pr set is easy to open but I would not do it (you can buy rolls of those coins on ebay for not much, or from L&C.
     
  10. Treashunt

    Treashunt The Other Frank

    Mac:
    Welsome, and stay away from trying to break open sets and get them slabbed.
    Usually the only winner is the TPG (Third Party Graders), who get your fees regardless of the grade assigned, or non-grade for a cleaned, damaged, etc coin.
     
  11. mac10man

    mac10man Resident Packrat and mole

    Thanks guys!!!
     
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