Coin and Paper Money Collecting/unopened coin sets

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Expert: - 12/29/2009


Question
Hi,
I have a couple of unopened proof sets and am wondering a couple of things:
1.  What is/are the advantages/disadvantages from keeping the sets unopened? I mean, I'd like to look at them, but it seems like keeping them sealed keeps their value higher.
2.  At what point does it make sense to open the sets? Is there a point where it makes sense to open them regardless?
thanks
Bruce

Answer
The idea behing unopened proof sets is that there could be a true gem in the set.  However, most collectors only pay premiums for unopened sets prior to 1965.  Unopened sets from the 60's bring about a 25% premium so we are not talking about a lot of money.  However, early 50's sets bring substantially more.

Regards
Joe Hylas
www.AllCoins.US

Coin and Paper Money Collecting

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Joe Hylas

Expertise

Numismatic professional with over 30 years experience can answer your questions about US coins, their values, how best to sell them and where to buy them. Interested in starting a collection? Find out which areas are undervalued and how to acquire those coins at the best price.

Experience

Ex-Head Precious Metals trader for Deak-Perera International with 42 offices worldwide. Industry experience since 1978. Has worked co-operatively with US Mint, Royal Canadian Mint, Austrian Mint, Chamber of Mines of South Africa, World Gold Council and Platinum Guild International. Professioanl numismatist specializing in US Coins. Always buying collections, will travel if size of collection warrants. Website: www.AllCoins.US

Organizations
PCGS, NGC, Rotary

Publications
Physician's Money Digest

Education/Credentials
Bachelor's Degree in Business Administration

Awards and Honors
Paul Harris Fellow

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