Do people reprint these?

Could you post a picture of this set? I would love to see it. When I read your post, it occurred to me how few of these envelopes I have seen with an address or cancelled postage. I own a half dozen and all are blank. I can only assume most were sold to dealers and collectors bought them at the LCS.

 

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Investors might have bought them. Given the delays in delivery of the current year’s Proof sets, one could make an instant profit by buying the sets and selling them to a dealer immediately. I remember doing that year after year until the mid 1970s.

According to a story by Walter Breen, and he could tell some whoppers, the Prudential Insurance Company of America bought a big block (100,000) of 1957 Proof sets as an investment. That year the mintage topped 1 million for the first time, and the wholesale price fell below the issue price, $2.10, for the first time.

In 1958, the mintage went down, and instant profit cycle resumed. You might not believe this, but the retail price for the 1964 Proof set hit $35 for a while in 1964-5. The same thing happened for the 1968-S set.

In “good old days,” collectors, investors and speculators created a market for Proof sets that was not unlike the market for the mint’s limited edition, “instant rarities” today.

 

Fascinating, I did not know this. $35 for a proof set back in 64/5 that would be insane! Thanks for the info

 

Thanks, it looks like it was returned as undeliverable (no one answered the door to sign for it). Good stuff.

 

Sounds like Matchbox cars, where there are reprinted boxes. Sometimes a pristine original box is worth more than the car.

 

There's many different kind of collectors I suppose. Personally, the packaging for proof sets is just as important as the coins to me. But however not everyone collects the sets as a whole. Most instead just want the coins inside despite the condition of the packaging. It is quite common for people to pop them out and put them in their own holders such as flips or air tight capsules, or they just want to send them in to some grading company. The beautiful thing is all collectors are different