Need some advice on original 57 mint set

IrishMike

I recently picked up an original 57 mint set and for those who have not seen one they come in cardboard holders with a pink tissue paper over both sides. All the coins with the exception of three of the jeffs and one on the roosies have various shades of pinks and blues. One of the jeffs is spectacularly toned as are the washingtions, lincolns, and one of the frankies. I have two questions.

1. Does it make sense to have them slabbed from an economic point of view, i.e. would they sell for more broken up and slabbed? The toning alone with sell the coins. I have no idea what the grades maybe, they are so darkly toned.

2. Would it make sense to submit them in the mint packaging to lessen the chance they will be bodybagged for AT?

Thanks

TomB

The grading services know what these coins typically tone like and you have described the typical color for the date, therefore, I don't think you need to worry about an AT issue with NGC or PCGS. I would sell the set intact without getting the coins slabbed since slabbing a '57 set would cost you $300 plus postage and I don't think you will recoup your investment on that. If the coins are truly nice you will still get way over bid if they are left raw.

Clankeye

Mike--
I slabbed selected coins out of a 58 mint set. Selling them off individually I made 5X at least what I paid for the set. I do not think that is a lock with mint sets, though. This set had a standout toned quarter that brought some attention.
Right now I have a 57, complete set on eBay. Nice set with all the packaging. Already have 23 bids, with a couple days left. People are starting to appreciate these sets when found intact.
As far as if you would just like to keep your set and enjoy it. I took my "keeper" 57 set and had a custom holder made by Capitol Plastics. The coins look great in them, and I don't feel any need to have them graded by a third party.

Clankeye

Lakesammman

Mike:

When did the mint stop packaging the sets that way??

kaleidoscopic

1958 was the last year. It depends on what you want to do Irish. Slab if you like them. They are easier to sell, if that's what you intend. I wouldn't worry about AT. Do they all look common tone wise? Kscope

Ronyahski

A set like that only makes sense to break up if you can get one coin to grade very high, like a 66FBL half, a 66FS nickel, etc. Doesn't make sense to get the whole set slabbed.

braddick

I recently did so with a 1958 set- sent them to NGC (I like the white holder next to the color).
It is tough, in some respect though, to pop them out of their issued folder. It feels kind of like your destroying a part of history when really you're not- you're preserving the coins!

It sounds like a terrific set. Good luck with your decision, I'm sure it'll be the right one and one that works well for you and your comfortable with.

IrishMike

Thanks for the good advice. They really are fun to look at it. I also had a 58 in my hands. Leo, the dealer I got them from picked them up at FUN, now that irritates me because I thought I had asked every dealer there about them. They are really hard to find intact. I will sleep on it. Pat you are right they will look much better in the white NGC slabs. Leo gave me a break on the price because of the volume of coins I buy from him and to be honest I purchased them to resell and fund the purchase of a 55 double die Leo picked up at FUN. Irregardless I am going to get the 55.

Some of the local dealers only follow the sheet for pricing and are behind on prices on some of the "hot" items. Last month one of the dealers was selling 1999 silver proof sets for $85. I mentioned it to her and I noticed today she had them for sell at $165. I was so tempted to buy the five she had last month for $85, but something told me that wouldn't be right.

BillJones

Many people cherry pick the best coins from the sets and send them in for certification. No all coins in these sets tone well or are even great coins. Some are marked, others have ugly toning and some are poorly struck. Some of the worst struck Jefferson nickels I have ever seen were in a 1954 Mint Set.

Because so many sets are broken, totally original sets are becoming increasingly scarce. In a sense it's a shame to break up a piece of history for the sake of getting more money. From a pure collectors' point of view I would not consider breaking the set until I was ready so sell it, but I know that's just a romantic notion.