All 1966 2nd edition, 1st printing. They needed a new edition. The 1966 edition failed to make all the correction Professor Tolkien required and he insisted they re-print them immediately for 1967. Thereafter we see most of the key text changes and it remain as we see them today.
Both the first and second printings are must-haves for any collection. They later printings were just re-prints and not as important as far as content corrections. This set is a mixed set, each title acquired separately so the wear is different on each book and jacket. FotR and RotK are very nice, TT could use a replacement jacket as all the edges are badly scuffed. All books are well read and worn, with TT having old damp spotting to cover.
Overall, a very affordable set of the now rare first printings of the second edition. As Tolkien book collecting grows in popularity, the availability of collectible/investment original condition books and jackets disappears. It is not just the printing/edition that matters to the value, but that serious collectors want only the best condition. Books with damaged jackets or even no jackets at all, are now increasing in price, driving up the price of complete and better condition copies.
That's how important condition is to value. Unlike other genre's, the market for Tolkien early editions is quite mature and well established. It is not a matter of waiting for a better copy to come along.
There aren't going to be any! There are no more hiding in the attic or charity shops. People sell off their more worn copies when they upgrade and now leave their collections to their children.We've been a specialist dealer for 20 years. Some examples that were plentiful just two years ago are now completely gone or only the dregs appear. First editions The Lord of the Rings and Hobbits remain the most in demand.