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1958 Sealed Mint Set
Shinycircles
Posts: 3 ✭
Hi all, first time poster. Was looking for an approximate value on a sealed 1958 double mint set which I believe is the real deal. Has a stamp along the seams that date 1964, assuming from a dealer that wanted to keep it sealed at the time. I have bought from the seller before and he seems above board. Planning on keeping it sealed. Currently ends Friday with a highbid of $399
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I posted it on coin talk, I’ve gathered from there it’s worth around $500 does that seem right
the "sealed" market is a strange one, indeed. the value of the item(whatever it might be) seems to be determined by the seal and not the item. in this case, if it is opened it'll lose about 25% of it's value.
So I’ll figure market bid price + 25%
Thank you!
The thing about these sets is that the individual coins aren't worth a lot but as a set, with great color, they could be, with high grade coins. Depending on the life this set experienced you could have a great set, an ugly set or a made up fraud set. It's a gamble.
What I would say is that the finding of wonderfully colored coins in these sets is a rapidly closing window. Most sets kept in original wrapping turned ugly over the years. Accordingly, If I were you I'd open it if you elect to buy it.
Greysheet for a 1958 Mint set is $175 bid/$228 ask. $399 is almost double the book value of a set. The only 1958 set worth $400 (in my opinion) is an OPEN set that has exceptional quality coins.
In the not-so-distant past I paid $530 for a 1954 unopened double mint set and resold it for $300 when the coins all turned out to be dogs. I told myself you only live once and the "thrill" will be worth any potential loss. It's the last time I do that unless the sets come my way at a much better price. Ages ago at my old LCS they had an OPENED 1948 double mint set that had superb toning on at least half of the silver coins. It was before I had any real appreciation for toners and I regret not snatching up that set ever since because as I remember it was being offered "under bid"! I agree with DollarAfterDollar, the window on these must be closing as the toning presumably progresses. The moral of the story for me was to only buy opened sets from now on!
They might be the real deal as unopened, but in truth I would suspect more than 99% of sets claimed as unopened are, in fact, opened and you are buying a set that someone has already gone through. This is the truth.
In honor of the memory of Cpl. Michael E. Thompson
Welcome to the forum.
Based on the information you provided, you’re thinking about paying a premium price for something you can’t view, first. Sure, the coins might be worth more than you pay, but the odds are strongly against it. And if you’d be keeping the set sealed, what’s the point?
If you enjoy gambling, there are a multitude of other alternatives that offer much better odds.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I couldn’t imagine buying it and then not opening it. Roll the dice, open it, and then if you don’t like them just resell. Then blow the dice and roll again
If it’s just the coins you want buy them separately. If ,as a newer collector, you might want to do a little dealing and get a feel for things. Reading these threads is a ton of knowledge. Good luck and as always collect what you like . Welcome 😉
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Most of the MS coins from the mint sets of this era in the original packaging opened or not, are ugly. as mentioned in a previous post, if one desires any of these coins, best to pick them out individually as attractive toning on these issues-'47 through '58- are scarce.
I had been stashing original mint sets away for a number of years. In truth, I have only added one set the in the past five years or so. There are not many left that are fairly priced, attractive or original in my opinion.
Admittedly, I don't look for them too hard any more.
Good luck if you end up buying the sealed set. Post some photos here if you end up opening, I'd be curious to see the results.
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@Shinycircles .... Welcome aboard... I will support the above advice.... buying a 'sealed' set is a major gamble.... likely previously opened and resealed.... Even if not, the coins may be dogs.... I would not pay such a high price for an unknown product. Cheers, RickO
On a set like this that now shows some reasonably attractive color I'd photograph the set then remove the coins while retaining all the packaging. It would be a cinch to reassemble as unmolested if you ever chose to sell but you would arrest the toning so that the set doesn't get forgotten and "overcooked".