1957 US Proof Sets: Get them graded or NOT?

jackburton

I have two 1957 US proof coin sets still sealed in the original cellophane packaging (cellophane package contained in the original small manilla envelope). As best I can discern, these coins (5 per set) are absolutely perfect. Unlike some of the earlier 'open cardboard' US proof sets where massive toning and sometimes corrosive influences degrade the exposed coins, these coins (appear to me) to be deep cameo and absolutely brilliant. They are still seemingly airtight-sealed in the cellophane (coins never touched by human hands outside the mint) and are the most perfect-looking coins I have ever seen.

The Lincoln penny is of a brilliance and lustrous color that I have never observed elsewhere. I'm not (at all) an expert, but if these coins wouldn't go MS-69 to MS-70, I can't imagine what ever might. Curiously, in the PCGS price guide, I don't observe ANY existing MS-70 gradings on these 1957 proof coins, however. Only the 1957 Roosevelt 10-cent and the 1957 50-cent Franklin halve even show an existing MS-69 (in DC). The rest of the coins (top grade) rate only from MS-66 to MS-68.

HERE'S MY QUESTION (AND QUANDARY): I need to sell these coins (my economic circumstance). The PCGS price guide has me terribly confused, however. As an intact 1957 proof set, PCGS price guide says a 1957 US proof set is only worth $31 (how can that be???). However, if individually graded, aggregately these coins would be worth something over $30,000, graded "deep cameo" and in conditions from MS-66 to MS-69 (calculated with the highest-graded values indicated). I am hesistant to break the cellphane seal on these coins and submit them to PCGS. PCGS REQUIRES coin submissions be submitted in 2.5" X 2.5" mylar slips, so I would have to open this sealed mint set to submit them to PCGS for grading. I am extremely quizzical whether or not these sets might not be worth MORE => LEFT SEALED?

Will I be able to get a better return breaking this set open and getting these coins individually PCGS graded, or am I better off leaving the sets sealed and trying to sell the sets intact? Also... where is it suggested that I might best sell these coins? Heritage auction seems to bring decent prices (at times); but on these particular coins, their auction history is pretty dismal. Any suggestions how best to sell these coins?

Thanks ahead of time for any comments/suggestions. I really appreciate any comments at all.

tightbudget

It's hard to tell without a photo, but 90% of the time, these sets are not worth certifying. Sell these at a coin show or shop but be aware that they trade far back of bid.

Cameonut

I agree. These sets trade for about $15-$20 in my area. And they are common.

The probability of getting a PR69 or PR70 grade from PCGS is highly unlikely. Your coins may look like they have a shot, but I don't know how you can really tell thru the cellophane. I have cut up hundreds of sets and usually there are a few 'issues' you can't see until they are liberated.

Unless there are deep cameo coins in those sets - (and these are a little difficult to see thru the cello as well) keep your grading money and sell them as they are and move on.

I know this probably isn't the answer that you want, but without pics, its the best I can speculate based on what my experience.

IrishMike

Unless you have submitted a lot of proof coins before a good rule of thumb is to subtract at least one point from the grade you assign them and better yet 2 points. Then do some research on past sales. Unless they are cameo not worth the cost and trouble. Of course you could always hit the lottery, but if you must send them in have a dealer or other collector look at them too.

fivecents

Like Cameonut said unless they are cameo or deep cameo on both sides of the coin don't bother submitting them.

garsmith

<<1957 US Proof Sets: Get them graded or NOT?>>

Photos please