1951 Proof Set....What would you do?

Shortgapbob

I was going through a portion the museum collection at the ANA today, when the Collections Manager and myself came upon an original, unopened 1951 Proof Set. His first reaction was that we should open the Proof Set up to examine the coins, make sure they have not been harmed from storage, and record them individually into the collection. I gasped in horror at the fact of opening up an original 1951 Proof Set. I explain that once it was opened, it could never be and original, sealed set. I thought it would be great for the ANA to have an example of an unopened set such at this. After some discussion, we decided to leave it sealed for the time being.

So, my question is: What would you guys do with the set? I understand that there are different viewpoints with this issue. Some people want the originality of an origninal, unopened set. Others will say that they are coin collectors who want to look at the coins, and could care less about the box.

Let's hear some input!

DUIGUY

Open it . Hope for the best. Lots of hairlines on the mintage. But one never knows unless it is opened. .

tightbudget

Unopened sets are all over the place (eBay etc.) Open it Robbie!

TomB

The coins are an original, matched set whether the box is opened or not. It seems foolish not to open the set, after all, I am certain that the box could be documented with digital images and the coins are what really matter. However, if you are hoping for PCGS to designate them as First Strike...

numobri

Leave it closed.There is no down side,if you open it,there could be an upside.

Jmo.


Brian

hubird

send it to me

mnmcoin

I guess it really depends on the circumstances of the owner? If the intent is to "display" coins, then open it, but if the situation reflects any sort of historocity than keep the set as is. It sounds like some sort of museum display. So, I would think the later option should definitely be used.

Opened 1951 ps are a dime a dozen, but try and get 10 true sealed original sets and you will soon appreciate how scarce they are.

morris <><

ModernCrapNut

It depends on what an individual enjoys most, looking at coins or boxes and envelopes.

STONE

Put the box of coins through an X-Ray and see if there is anything wrong with the coins. Then you can send them to me for further inspection.

DeepCoin

The only value to an unopened box is when you want to sell the coins, which I certainly hope is not the case here. A buyer would be betting on a sight unseen quality and the seller would be hoping to sell for an above average price.

The coins are for display, so they have ZERO value sitting in a box. If there is a cameo coin, then all the better. If the coins are just average run of the mill 1951 proofs, so be it. There is No incentive not to open the coins. Would a visitor rather see a box or a coin when coming to visit an ANA display? I would suggest most people would want to see the coin. If the packaging is so imporatant, open it carefully and display they associated package next to the coins.

messydesk

<< <i>However, if you are hoping for PCGS to designate them as First Strike... >>


Don't these boxes have postmarks on them? If so, find out when '51 proofs became available that year and see if yours qualifies for FS under the first n days rule, then have PCGS open it if it does. It may seem silly, but if you can actually get a FS label on a '51 proof set it will show, for at least a while, that the set hasn't been maxed out by crackouts.

Writersblock

Leave the box closed and develop a display of how proof coins were originally packaged and shipped from the mint, and how the packaging changed over the years.

SkyMan

<< <i>Leave the box closed and develop a display of how proof coins were originally packaged and shipped from the mint, and how the packaging changed over the years. >>



Open and display the coins.

While showing how packaging changed over time is not a bad idea I think that opening the box and then displaying the coins in their stapled mylar flips would be a good idea. You may well be able to show the damage the staples did to the coins.

Russ

<< <i>Don't these boxes have postmarks on them? >>



No. In fact, with the exeption of 1955, the mint didn't even put the year on them.

Russ, NCNE

RichieURich

I would recommend opening the set. The staple that holds the coins together, plus the cellophane envelopes holding the coins, eventually start to ruin the coins. The only way to stop this environmental process is to remove the coins from the packaging.

SanctionII

With one exception, I do not understand the appeal of keeping sealed a proof or mint set that has not been removed from the packaging that it was placed in by the mint.

The exception is the situation where one who has such a set and desires to do nothing other than sell it can adverstise it as "unopened" and thus expect to receive a higher price from a buyer who is willing to gamble higher money in the hopes of scoring a PQ set.

In all other cases, what is the reason for keeping the set unopened? The primary reason the set has any significance at all is the coins inside the set. To the extent a secondary interest in the packaging exists, this interest can be satisfied by exhibiting the packaging with the coins.

I guess the "hidden treasure" aspect of the unopened package has some appeal, but not enough (for me at least) to not want to open up the box and see what is inside.

MrEureka

Leave the box closed and develop a display of how proof coins were originally packaged and shipped from the mint, and how the packaging changed over the years.

I agree. One day, unopened boxes will be great rarities. A museum reference collection of unopened boxes will be a valuable resource to collectors who want to learn what legitimate unopened boxes look like. The best analogy I can think of is the Smithsonian collection of matte proof gold. The coins were probably put away at the time of issue, when the coins were worth minimal premiums. Today, they remain as they were at the time of issue, and set a standard by which we can judge the originality of coins in the marketplace.

BobGreene

What's the point of having coins you can't look at? Open it!

It worries me that the ANA doesn't already have this set cataloged as part of their collection. Do they just take in donations and stick them in a closet or basement without first inventorying them? The ANA should already know exactly what they have without needing somebody to "go through" its possessions to see what they have. Whether or not to open the box or leave it sealed should have been decided upon when it first came into the ANA's possession.

Mark

I believe that MrEureka is correct. The options are to open the set or not open the set. I think it is a LOT easier to aquire proof 1951 coins than it is to acquire a legitimately unopened 1951 proof set. If the set is opened, then I believe the museum has changed an item that is hard to get and would make for an interesting exhibit--an unopened 1951 proof set--into items that are easy to get--1951 proof coins. So by opening the set the museum obtains nothing it cannot easily purchase and loses something that is probably tough to acquire.

Additionally, I bet the museum already has some 1951 coins that have been previously donated to it. I also bet the museum has NO other unopened 1951 proof sets. If the museum already has other 1951 proof coins and no other unopened sets, this fact alone should dictate that the set be kept unopened.

mrpotatoheadd

Until you open it, how can you be sure it contains a 1951 proof set?

19Lyds

Without reading the entire post, I say open it just to insure that the coins are not receiving damage due to rusting caused by the staple used to hold the individual bags together.

Originality only counts if you are going to sell the set to a buyer that wants to look for unique coins or cameo's. From a historical perspective, have the opened and "conserved" set, if that what is needed, with the original packaging in the display, would have more value than an unopened package that has damaged coins.

coinkat

Is there already an opened 1951 set in the collection? If so, that might influence your decision

SanctionII

On a gamble I bought 4 unopened 1959 proof sets for a small premium over opened sets. What a waste. All of the coins were dogs.

Then again, I bought 11 unopened 1961 proof sets for a small premium. Not bad. 4 moderately CAM halves and 7 moderately CAM nickels.

However, I have decided to never buy unopened proof sets again (or at least until next time) due to the large risk of losing good money and the exceedingly small chance of finding treasure.

BobGreene

<< <i>I believe that MrEureka is correct. The options are to open the set or not open the set. I think it is a LOT easier to aquire proof 1951 coins than it is to acquire a legitimately unopened 1951 proof set. If the set is opened, then I believe the museum has changed an item that is hard to get and would make for an interesting exhibit--an unopened 1951 proof set--into items that are easy to get--1951 proof coins. So by opening the set the museum obtains nothing it cannot easily purchase and loses something that is probably tough to acquire.

Additionally, I bet the museum already has some 1951 coins that have been previously donated to it. I also bet the museum has NO other unopened 1951 proof sets. If the museum already has other 1951 proof coins and no other unopened sets, this fact alone should dictate that the set be kept unopened. >>


Mark does have a point here. It would make a nice display to have the unopened box together with an opened set (with the coins still inside the box) and with each individual 1951 proof coin laid out.

It still annoys me that the ANA didn't already know what they had in their collection.

tincup

If it truly is original and as issued by the Mint, then keep it sealed and display for the historical reference previously mentioned. There are plenty other sets already opened if you want one to display.

Shortgapbob

<< <i>What's the point of having coins you can't look at? Open it!

It worries me that the ANA doesn't already have this set cataloged as part of their collection. Do they just take in donations and stick them in a closet or basement without first inventorying them? The ANA should already know exactly what they have without needing somebody to "go through" its possessions to see what they have. Whether or not to open the box or leave it sealed should have been decided upon when it first came into the ANA's possession. >>



I should have been more clear. We were going through a recent donation and checking to see if the contents matched the inventory list that was with the donation. After comparing the inventory list with the contents, we were accessioning then into the museum's collection. So, don't be worried.