“Unopened” US proof sets

thank you for the information chascat

 

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Just a wild guess, but compulsive shoppers and obsessive hoarders are two types of people I could think of who would leave purchases forever unopened.

 

The thought in the 50s and 60s , was similar to silver bullion buyers today, in that you could buy coins from the mint, stamps from the PO at face, and put it away for 20 years and it would gain in value 5000%. Extremely few issues did better than doubling. That is the mint postage stamps you see @ coin shows for 70% of face and hundreds of Mint and Proof sets. Today the market honks the horn of riches of buying silver or gold that HAS to increase 10-100 X over the next few decades, but extremely unlikely.

 

I certainly agree with what most everyone has said, especially regarding the authenticity of apparently "unopened" sets from 1981 and prior. As noted, the only way you can be sure that they are valid is if the envelopes (which of course you wouldn't be able to see) are in the sealed and postmarked mailers as they were sent from the US Mint.

However, I have to smile at the "why would anyone . . ." type of responses; which of course begs the question, "Why does one collect anything?". There's probably no simple or single answer, it might be because they are "compulsive shoppers and obsessive hoarders", or maybe it's because they just like it, enjoy discovering things and find it fun. Of course one might be an investor or speculator, but in that case, they certainly are not "Collectors". Methinks that one of the primary drivers is to have something that no one, or few others have. Case in point . . . US Mint Proof and Mint sets.

While I collect many types of US coins, the real darlings of my overall collection are my US Proof and Mint sets. Why? Because I have every Proof set struck since the Mint began reproducing them in 1950 AND every Mint set that the Mint has made, starting in 1947 . . . and all in their OGP including protective outer envelopes. Certainly most of the earlier years, as I mentioned above, are not "unopened", some may be and I know that some definitely are as they are still contained within the sealed original mailer as sent from the Mint. As I have many duplicates from the mid 50s onward, I'm sure that some sellers have slipped some by me, like the "sealed" 1970 Mint set that I acquired early on . . . it didn't occur to me at the time as to how they would have known that it contained the "Small Date" variety (as noted on the envelope) if they hadn't already opened it!

I've gotten wiser with time and as I now only concentrate on truly "unopened" sets, I either purchase them through private parties, or as someone mentioned, buy in bulk sealed Mint mailed boxes on websites, though buying 5 to 20 units at a time does seem a little OCD. Will I ever open them? No, I decided sometime ago that my total coin collection, including neigh onto 100,000 Wheatback Lincolns, will be going to my youngest and last Granddaughter; let her have the thrill of potential discovery . . . a nice legacy to leave, I think.

So, "why would anyone", well obviously many reasons. But think of it, I and at some point my granddaughter will have, in terms of Proof sets, something that no more than 51,000 other persons could have, and as for the Mint sets, at most there are only 5,100 others that can match it. BTW, my oldest unopened set is a 1954 Boxed Proof set. I'm darn sure that it is "unopened" because I also have an opened 1954 and the boxes and tape are identical but there is absolutely no evidence that the box or tape on the unopened one has ever been tampered with in any way. One note, one of the commenters opined that coins should be removed from the old cellophane wrappers and I couldn't agree more . . . most of the coins in the opened 54 box (still stapled in the original cellophane) are toned a nasty black and are as ugly as hell. What do the coins in the unopened 54 box look like . . . well that's for another generation to discover!

Semper Fidelis to All

 

Just to make sure we're on the same page here and that I correctly understand what you are saying, when you say "sealed" do you mean that the actual mailing envelope and or box itself has never, ever been opened to examine the contents inside as received? That, in fact, was the very specific and only type of "unopened" packaging that I was referring to in my post about the possibility of compulsive buying being involved in such a situation. Thanks.

 

Sorry for the lack of clarity, I do mean absolutely, completely and totally coins contained in the never opened mailer as it came from the US Mint; in other words, coins that have never seen the light of day since they left the Mint (the only exception being the early 50s Boxed Proof sets because the type of tape and the actual taping makes it almost impossible to be tampered with without being noticed.

And BTW, I take absolutely no umbrage in regards to the "compulsive buying", my wife has complained for a long time that I am OCD (Obsessive Compulsive Disorder) whenever she would catch me paying too much attention to my coin collections (and to some degree she is probably right)!

Semper Fidelis

 

Thank you very much for the kindness of your clarification; much appreciated. By the way, I would be the last person to even consider casting aspersions on anyone's alleged or otherwise compulsive behavior as I know from all-too-personal experience how uncontrollable, overwhelming and debilitating that state of mind can be.

 

You've got that right, Brother! But then again, what would life be like if we didn't have a few quirks every now and then. Semper Fidelis

 

When I was small I used to collect spare change and stamps.
I then would buy "coins" that were affordable, such as the US Proof sets.
Why? I guess (1) they were affordable, and (2) they were neat.

Did I care when I was less than 10 yrs old that they may be worth more than what I paid for them. Nope. I looked at them for a bit then put them away.

I still have all that spare change, stamps (and US stamp sets), and US Proof sets, why?
(a) I didn't know there were rules that you had to get rid of them if you simply put all the stuff aside for decades,
(b) they don't really take up much space
(c) I really don't have much of an interest in them. And really no interest in putting effort into going through them nor getting rid of them.
(d) and now I also take my spare change and throw all the Washington Quarters or earlier into a jar. I also do that with pennies that are 1980s and earlier. These are my small "hoards" of coins from spare change are only pennies and quarters. I really never had an interest in dimes and nickels.

It might make a penny or quarter collector salivate. But not me.

Nowadays I collect coins but my interest is limited to certain coins. And I "collect" other coins but may have limited interest in them. For instance last year I bought a 1909 VDB (or what ever it is) penny. Okay, it's a penny .. it didn't do anything for me. So I put it away.

Am I a hoarder?
I doubt it. My entire collection (excluding my "small hoards" of pennies and quarters) would fit into a single box unlike someone else here on cointalk who literally has tons of coins. And all my pennies/quarters probably would fit in a bucket unlike some who have bags and bags of pennies.

I might have even been snickered at for collecting the recent ASE Congratulation sets which I bought over the last several years to actually give away to ppl graduating high school, but never did. But those are probably the only coins I've sold from my collection from the recent insane interest in them.

But anyways, when I pulled out one of the unsealed envelopes for this picture, it reminded me of when I got it. One of those "oh yeah, that was way back then ..."

Unless someone is going to tell me that it's worth $1,000 or more it'll just go back into storage for another day when it makes me reminisce back in time (or some other question about them), just like that packet of space stamp collection books from the post office from the 1970s.

Of course, maybe my kids will find interest in everything at some point.
And look, they're all not black.

 

Is it okay to have MORE than a few?

 

It rather quickly becomes clear that there are easily as many ways of collecting coins as there are coin collectors, and I can't think of any reason as to why we would want to have it any other way!

 

It's basically people who are very passionate about specific coins may not understand why some one else isn't.

I may have pennies, nickels, dimes but I'm not very interested in them.

But my main interest that ties most of my "collection" together was the various "eagle" designs across all the coinage, thus the wide array of type of coins in my "collection". If it has an eagle on it, I probably have at least one example of it. If more pennies had eagles on them I might have collected them. But the only penny that really interests me and is in my "collection" is the Flying Eagle penny.

So yes, there are many ways to collecting coins.

 

I like your whimsical approach to "collecting", I really do; Hum, this looks interesting, so I'll put it over here, as for the rest I'll just toss it in a jar and we'll see what happens . . . My mom would have liked you. I couldn't help but noticing, however that there seemed to also be something a little "sharp" in your missive . . .
"unlike someone else here on cointalk who literally has tons of coins. And all my pennies/quarters probably would fit in a bucket unlike some who have bags and bags of pennies." I may be a little thin-skinned, and apparently not to tactful, but every story is not always as simple as it may appear.

Other than my Mint and Proof sets, plus some other odds and ends I've acquired over the last few years, I have all of those "bags and bags of pennies" and most of those other "tons of coins" by virtue of being the Last Man Standing when my 96 year old mother passed away 5 years ago. Shouldn't have been surprising that I found bags full of hand rolled coins, mason jars filled with coins, coffee cans filled with coins, a suitcase with coins and notes . . . in cupboards, under beds, in closets, you name it, you would find something hiding in there . . . Nope, shouldn't have been surprised at all, especially given the fact that this was a woman who was brought up in the Dust Bowl of Southwestern Nebraska during the Depression; who moved East looking for work as a maid, but ended up being a small dirt farmers wife until he died, and; then just a widow who lived by the motto of "Use it up, wear it out, make it last or do without!"

I am still inventorying many of those coins and will probably never complete the task. In addition, I have never spent nor sold a single coin and I never intend to; my littlest Granddaughter will need to make those decisions when she comes of age. So if you need to throw any barbs please pick the right target, but you are going to have to throw them a long long way . . . like the Little One said at the service after she had crawled from her mother and curled up in my lap, stirring occasionally, she would reach over and pat the coffin saying, "GMA's went to Heaven. GMA's went to Heaven." Yes indeed, I hope you have a good strong arm.

Good Night to All, and as usual . . . Semper Fidelis

 

I'm "whimsical" when it comes to pennies as pennies are easy to collect
I have ONE Indian Head Cent which fills that design hole for me.
I like halves and larger myself, where I'm more specific and not whimsical at all.

I have a collection of "designs" - a few half cents, 2 cents, 3 cents coins and the early 5 cent/nickels, and early dimes and twenty cent pieces. Then a few early quarters. But the halves/commems on up I collect designs of eagles.

I tried moving towards paper collection of eagle designs but didn't have the passion. I Bought one 1899 Dollar and stopped. Paper isn't the same as coinage for me.

goes back to the "passionate" statement I had. If one is really passionate about collecting a certain thing, or a certain way then they collect for a reason. i'm not passionate about pennies or paper. I am about halves and larger.

Every one is different on their own concepts of "collecting" or "hoarding" and approach it in various ways depending upon budget, etc. You can't fault any one on being different than anyone else.

I recall Kurt mentioning his hoard when he recently moved .. literally a ton or two of coins. yikes. And other ppl have shown pictures of large bags of pennies stored on top of their safes. Basically, some people have large quantities of stuff. I have a modest sized collection and a small penny/change hoard if you want to call it that.

My dad also collects and stores pennies and other change. I know he has a couple of those large water bottles full of change. He's not a coin collector or anything, just saves up change. Guess we now know where I got that concept from.

 

My wife has buckets of loose, random coins. I have four boxes of sorted, packaged coins. As you so wisely said, to each his - or her - own.

 

I find proofs pretty hard photograph. With that said, here are some lousy pictures.

 

Wow beautiful coins!


Thanks,
Jacob

 

Everytime I see a photo display of coins of this quality I think "what a great hobby!"

 

Little Rosie getting little toning

 

To me it depends whether you are a numismatist/coin collector, or a coin dealer/seller.