Cracking open 40 proof sets.

NEWB alert.

Check out this item on ebay.
Guy sold a 40 roll of ATB proof silver Mt Hood quarters by cracking open 40 proof mint sets.
Looks like he got $280 and the melt value on 3/23 (when sold) for those coins was around $260.

So I guess my question is is that extra $20 really worth cracking open 40 sets? Even if you make $20 per coin and can pull in $100. How much time would it take to do all that. (cracking the sets, making the rolls, selling, shipping)

Just curious.

 

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To me its not worth it, btw wheres the link?

 

Click on the word 'this'

 

I am totally against cracking sets.

 

Why? I'm interested in other opinions. Is b/c of the potential to damage the coins? Does it inherently diminish the value of the coin? Is it worth more by itself or with 4 of its brothers?

Any opinions of the merit of cracking open a set of silver proofs to keep in a album showing the entire series. It would be more convenient than those holders they come in.
What about breaking into them to send off to get graded. Would it be worth it then?

 

I'm curious about what you all think about this as well. I want to crack open some of mine for the pennies, and eventually I will get an album for the rest. Obviously for the pennies it doesn't have to be a silver proof, just a regular proof.

 

I agree with you fifty. With such a low profit margin I think the owes himself some money, I'm sure it took quite a while to crack them all.
I wouldn't crack any sets out for a couple of reasons:
To easy to damage the coins
I'm a little OCD, when it comes to sets.
I actually like the holders they are in, safe and sound for the most part.
The most important reason is because I like them, that is why I bought it in the first place. I'm in this hobby as a hobby. If I can make a couple dollars here and there fine however, the coins that I do sell or trade will never come from one of my proof sets. I'll let other people crack theirs out and pick up individual coins I want.
Does any of this make sence?

Mark in NJ

 

makes perfect sense, Merlin.

I encourage people to break up their sets. I want them to break up a million or so of them. The attrition will be good for the long-term value of my OGP'd proof sets. LOL Does this makes sense to you? To me it means that we both love our sets as they came. I am just trying to make a buck or two for my heirs when they sell mine.

 

Yep, my feelings exactly. If they want to crack them open go for it, I'll buy what comes out of THEIR proof sets. MY proof sets are staying where they are. I would never even consider cracking mine open.

 

i have a 1957 proof which i had to take apart.the franklin and dime have black spots on them..but the other 3 coins are fine

 

That is a different animal completely. If your trying to "save" the coins I would open it. I would never open them just to sell.

 

I'm pretty OCD about my collections as well. The difference? I want my album to be 100% full. I can't get it full without those S coins. I will only open up sets that I have more then one of, or a silver set to replace it. I usually get one proof and one silver set for Christmas. I have not opened any up yet because I don't have an album for every coin and I don't want them just laying around somewhere. When I get ready to open them, I will do so with the utmost care.

 

At $40/set from the mint he technically paid $320 for the roll he sold, if he bought the quarters only sets. And at $65 for the full silver mint set I dont think he is any better off.

Kie

 

Why not keep the sets and pruchase what you need for your albums? I just can't bring myself to commit robbery from those little plastic cases. LOL You can usually pick up what you need from either the internet or local coin shops for a small premium.

 

why pay someone a premuim on the internet when you can just buy an extra set and break it up?

That way you get coins that haven't been picked through or rejected by someone else

 

Correct. And upon further snooping on ebay there are a TON of folks selling rolls the same way. So what is the catch? Are they buying the sets at a huge discount?
I'm just trying to understand.

 

APMEX has been selling silver proof state quarters as bullion for a good while. They even have silver statehood quarter 40 count rolls you can buy.

 

I cracked open every single proof and mint set I had. They all now reside in beautiful Dansco albums w/proofs.
Have a nice day!

 

Link please. I don't see it.

 

http://www.apmex.com/Product/46944/10_Proof_Statehood_Quarters___90_Silver_40_Coin_Roll.aspx