I have been tempted by some "sealed" mint sets at shows lately, and wonder what advice/experience/war stories the Sages at Coin Talk have on the subject. Buying coins sight-unseen is against my instincts. Is the condition of the envelope any basis for purchasing? Should there be a premium for sealed (but, necessarily, uninspected) sets? I'd be grateful for any input.
Collecting or investing?? If your looking for appreciation only, go elsewhere 'cause other than the 2004 set they've been stagnate!! The coins are usually always a cut above the normal unc's, due to better handling and extra stamping!! YES always go for the sealed sets and DON'T open them if you plan or reselling them!! As for the so called SATIN finish, so far it hasn't proved to be a big deal!! I'm only talking about the 1999 to 2008 sets here, there are some good values in the older sets to be had also but I doubt you'll find too many in sealed packages. Hope this isn't too confusing!!
Thanks for the input. I am asking primarily about the 1950's and early 60's sets in the original US Mint envelopes. "Unopened" means the plastic wrap is intact; "Sealed" means the envelope has not been opened. I see quite a few at shows and on eBay. How is one to judge the condition of the coins inside? I've seen toned coins in unopened wrap. As to investment v. enjoyment, that is not an issue for me. I like coins, and am thinking of putting together a proof/year set starting at my date of birth. I like buying the best quality I can afford. There is some adventure or mystique to opening the sealed sets, but I'll cross that bridge when I come to it. I just don't want to open the set and find unattractive coins.
As a rule "unopened" sets aren't. There are lots of counterfeit envelopes and I don't think all the mint sets were even sealed when they left the mint. Proof sets were. I'd look more for original sets. These are ones that just hit the market from an estate or old collection. Many dealers just don't care about gems and varieties and want to move them out of inventory.
It's a crap shoot buying sealed sets. For one thing you have no idea what kind of environment the sets were stored in. Example: there was a thread on here a few months back where a fellow had bought a huge lot of sealed sets that had been stored in an attic...monster toning as I remember. That was okay, he knew where they came from and the storage conditions. Just something to keep in mind.
Quite correct. I don't remember the date range, but for quite a while mint set came in envelopes that weren't sealed. That would lead me to suspect sets in sealed envelopes. It will take me a bit to do the research about the dates.
If the envelope is sealed I'd be concerned , I want to see what I was buying , it doesn't matter to me if the envelope is opened and the coins are still in their plastic envelopes , to me that is still considered unopened . rzage
I personally couldn't keep from opening them, just the thought of a toned franklin hidden away! I can understand wanting intact packaging though.
Many thanks to those who have responded. My inclination is to examine unsealed sets for quality, keeping the envelope for the sake of authenticity. The notion of counterfeit envelopes was a revelation: for such relatively small stakes, someone would sell their soul for a few dollars....pitiful. It is amusing to see the eBay 'ticklers' such as "could be an ultra cameo, double-die xyz worth $$$$ inside" on the auction. Logically, there could be anything from slugs to PF-70's inside, so what's the point? I've been told there is a 10% premium for "sealed" sets, but knowing that they sometimes have been issued unsealed places a premium on the ability to examine the coin. Sort of an extrapolation of "buy the coin, not the slab (envelope)" Once again, many thanks to those who took the time to respond, and also to refer me to previous threads.
You can't rely on the sets being never opened, easy enough to re-seal the envelope. I'm talking about stuff like 1960 or so proof sets.
Doug the point is that the envelopes were never sealed by the mint to begin with. So there is no such thing as an unopened set. Unless - it comes in the original box shipped by the mint containing anywhere from 10 to 100 sets.
I agree totally. My point is that I'd not pay a premium for "unopened" sets. The cameos have been pulled out already, sort of like "unsearched" wheaties.
