opening up proof sets

What is the best way to open a proof set without damaging the coins inside, don't try to talk me out of it just please tell me the safest way to do it. I am not going to send them out for gradeing they are for me I have a special place I am going to put them.

Bruce.

 

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depends, sometimes you can just hold it flat and twist it and break the seal.

 

I should have said it is a 1976 mint proof set not sure if the mint put them together better back them .

 

I do it all the time. I break the corner with a small needle nose pliers. After that it opens easily...

 

ED.
Do you put it in a vice or just hold it in your hands and use needle nose pliers ?

 

I put a screw driver in the crack between the two sides are twist. No vise.

 

I just hold it in my hand...After the corner is open I carefully lift the cover off. The first time I did it putting a screwdriver in between the corner, it slipped and I scratched a coin.

 

Thanks guys I will give it a try.

Bruce.

 

Wear goggles!!!

Plastic shards can fly at extremely high speeds. They are light and slow rapidly in air but will take out an eye. They can launch anytime the plastic is hit or bent.

An icepick, awl. or sharpened screwdriver driven between the two largest coins is highly effective. Place the set on the floor between your feet and drive it home.

 

I use 3 small flatblade screwdrivers. I stick a medium sized Jeweler's screwdriver in the loosest corner and twist it up. I then put a slightly larger Jewerler's in and slide the smaller screwdriver down inside, keeping it on the edge from going inside. Then I use a larger flat blade and just work my way around the whole rim until it comes apart. I have never damaged any coins this way.

It also helps to kick the dog, cat, kids and wife (optional) out of the room so there aren't any distractions.

The older sets are better sealed than the newer ones.

x2 what cladjing said.

 

I do what everyone else does lol, use a screwdriver or on the newer ones my thumb nail. Tell us how it works out. Good luck Bruce. :thumb:

Phoenix

 

Bruce:
I have found that the use of train tracks works very well.
!) Wait for the train whistle
2) place set on tracks
3) DUCK!
4) Pick up pieces.

I do not recommend this to minors or any other living being.

 

Howdy,

I've always found that C-4 works very well but it scares the dog. ;-)

Seriously, I use a small flat bladed screw driver and work slowly.

peace,

rono

 

open up proof set

i welcome people open it up their proof set. so that the mintage for proof set will become lesser and lesser.

 

Elaine.
Believe me there is no way the 1976 mint proof set will every be worth anything, even a hundred years from now. The mintage was 4,149,730 original issue price was $7.00 and those 6 coins in that set thirty years later $7.00 and yes you are right some I would not open however this set these things are coming out.

Bruce.

 

This is a touchy subject for me because I don't want to sound like I'm advocating
investing in coins or that ANY particular coin constitutes a good investment. Even
if some coin were a good bet to increase it is sometimes difficult to be able to cap-
italize on it since they might be hard to find, store, or sell later. And I generally a-
gree with you that '76 proof sets might not be the best place for appreciation...

...But, there are many millions of new collectors who may soon want an example
of these type coins. There are also many old timers who never set aside moderns
who could desire these. While the mintage is large one has to remember that it has
been whittled down by many years of attrition. There is not only the normal inexor-
ible attrition caused by fire, flood, and time but there have been collectors and deal-
ers destroying these sets and coins for other purposes. Some dealers destroy so
many sets that they've even had to make machines to do it. Lest someone point
out that the coins still exist it should be noted that they don't. These coins have
been extremely cheap which means that they are sold to people who don't value
them as they would an 1804 dollar. The coins get shoved into folders and then spent
if the collector tires of the set.

This isn't to say the coins are scarce. Far from it. They are common and will, as you
say remain common for many decades. But this hardly means that the set must nec-
essarily remain a $7 set forever. Look at the '50-D nickel. This was a common coin
that was saved out of circulation nearly in its entirety yet it achieved a price of $150
in todays money. If the '76 proof set did this it would sell for $900.

When everyone quits laughing I'm not suggesting that this set will do this, merely
that there is precedent. There are more collectors today and it seems to just keep
growing. The '76 proof set can't really go to $900 in a vacuum because all of these
new collectors are not going to drop what they're doing and collect bicentennial coins
exclusively and they, in aggregate, don't have enough wealth to push the entire mar-
ket to these levels.

I remember back in 1964 how everyone claimed that the '50-D price was justified be-
cause there would be a steady influx of new blood who would each desire a nice shiny
new '50-D. Sure it was ludicrous to believe the demand for this coin could exceed the
supply when the entire supply was safely sitting in safety deposit boxes and the demand
was coming from children who weren't even born yet. But these considerations don't ap-
ply to the '76 proof set. Most have been destroyed and relatively few have really set
aside. But the real difference is price. In 1964 dollars the '76 proof set is selling for a-
bout eighty five cents!!!

While it may seem incomprehensible there will be many realignments of prices in the com-
ing decades. No one knows which will be the winners and losers because it depends on
the future actions of the newer collectors and collectors are notoriously difficult to predict.
One thing is certain and that is some coins will have dramatic price swings and this will apply
especially to some of the more recent coins. Before anyone decides to "invest" the rent
money they should understand that all price swings will not be upward.

 

Can't really say much about US mint sets as I don't actively collect them but there is a example from some Soviet mint sets that I have seen. A 1970 set sold recently in it's mint set went over 600usd whereas a broken up set that was assembled only went for less than 200. Ironically, such sets 10 years ago weren't even worth more than 20 dollars at most.

 

LOL! I change my mind Bruce, this sounds more practical and exciting than just using you thumb, lol. Good luck with opening the set Bruce. :thumb:

Phoenix

 

In 1964 the '50-D nickel would easily sell for $25. Actually rolls wholesaled for over $1000 for a brief time which is even more than $25 each. We've had more than 600% inflation since 1964 so that $25 is the same as $150 today. If all six coins in the '76 proof set were in as much demand as the '50-D was way back then the set would sell for $900.

The '50-D was obviously overpriced and anyone not caught up in the frenzy knew that even then. This was mentioned merely to state precedent but this is what's so incredible about most of the modern markets; there are numerous coins which are as tough as the '50-D was that sell for prices based on face value. Few of the clad dimes or quarters exist in numbers greater than the '50-D but wholesale for prices as low as 12c. It is lack of demand holding prices down for these not bags and bags of coins in dealers' back rooms.