How do uncirculated coin sets have damage?

Here's mine an 1990 D set , you'll notice that these cojns look alot better than the op P set.
They been stored in one of the safes for 29 years! If anyone is interested pm me. I don't collect mint sets or proof sets as such.....see images below.
You'll notice that the coins do have bag marks etc ,however at an arms length they look pretty good even a tad bit of frost on the devices. But again this sort of set is just a collector item. What surprised me is I can not recall where I got this set....

 

Log in or Sign up to hide this ad.

I think I bought my first Mint sets from my local bank, Michigan National Bank .. although that was in the 1970s. But I can't be 100% sure of it as that was a long time ago. I still have my car bank, and bank book I got from them when I opened my account too.

 

Now Here's the statement that tickles me......handeled with white gloves! Since they left the Denver mint. Somehow that description does not fit the image in my mind... Idk.....I'm in the oh no you didn't group.

 

white gloves and hammers

 

Because by doing that you can sell both halves of the set for an insane mark up. Take a $5 1990 mint set (or just Unc coins from bank rolls) and make two "Bank sets" that you sell for $15 each. $5 for the set + $2 for the holders = $7, sell for $30 = $23 profit. And when you are selling to non-collectors it is easier to sell a half set than a full set. They don't understand why they should get two of each coin.

Well from the time the were struck, through the bagging, shipping and packaging (assuming they used mint sets, or rolling if they used bank rolls) they were all machine processed. They were never "handled" until they put them into the aftermarket holders. For that they used white gloves, all the bag marks, etc had already occurred.

 

I'm not seeing rolling machine damage. But I did include the possibility the were from bank wrapped rolls and not mint sets.

 

It's there if you hold the coin right...it will show its self.
One must realize that banks always have given away pens, calendars, piggy banks, just about any cheap gimmies they could come up with.
Most of the better items were given to thier better customers.....

 

What about years in some sets where mint packing has caused the coins to tone.
Westward Journey sets turn gold in the US Mint packing, several modern commertive coin sets discolor .
To my mind set a press operator at the mint could careless if they were coins or washers.
It's all about production....and they all end up in a bin at one point hitting,rubbing each other.

 

Is it possible seeing that there was a Denver set and a Philly set that the Fed Reserve did these sets for banking institutions to buy for promotional items and such? the Mint medals in the set throw me off on these and lead me to that direction.

As far as "uncirculated" goes, it just means a coin that hasn't entered circulation, it does not mean a perfect or damage-free coin. Fresh boxes of coins from the mint meant for circulation, yet uncirculated, are loaded with issues and contact marks.

 

Those are readily available from people who cut up mint sets.

Here are 50 (25 from each mint) for $6, and he has 400 of them available. and there are plenty of others.
https://www.ebay.com/itm/Mint-set-T...q4AAOSwP-5Z3-tf:sc:USPSFirstClass!47371!US!-1

 

What do you mean? I was 8 years old, difficult to remember the details, I just know I had saved up something like $100, though it must’ve been closer to $125-$150, and I remember being at the bank and seeing this displayed and my parents telling me it would be a good thing to spend my money on.

 

See your posts above? You mentioned you saved and invested $100. Then you said the cost was between $130-$135. The numbers don't add up.

 

I love it when they say that whatever coins (proof set, mint set, etc.) has never been "touched by human hands). What do they have, Orangutans processing the coins at the mint?

 

These "Bank Sets" were fairly popular back in the late-'80's/ early-'90's. The prices were set by the individual banks and sometimes had a sticker identifying the specific bank.

My bank sold them for $11 IMS.

All that I have seen were assembled directly from regular US Mint Sets. Apparently "profit" was the primary driver since Gems are as common in these as in regular sets. I've never seen a superb Gem in one but have seen only about 35 of them and in so low a number a superb Gem would not be expected (it should take about 60). I suspect these were sold principally in the midwest but really don't know. Getting information then was very difficult and is probably impossible now.

 

Too bad the supplier's name is not printed on the package anywhere. They identified a business opportunity back in the day and were reasonably successful but their identity is now lost in the passage of time.

I understand the lack of branding, since it allowed each bank to private label the offering but it's a shame we don't know who really produced them (at least to a geek like me).

 

I do wish I had tried harder. I asked only at a couple banks and got the wrong person each time.

They made a beautiful display under the florescent lights.

A mint tour guide said that they started selling the souvenir sets in answer to jokesters who asked for free samples. Perhaps the "Bank Sets" were for a similar purpose.