Basic Set is a subtheme of Mursten that consists of 6 sets that ran from 1954 to 1956. Most sets were released in 1956 which accounted for 5 sets. As with most sets produced in this subtheme, finding such sets in new/factory sealed condition is pretty difficult contributing to their overall value.
Most valuable LEGO Basic Set set 700-2-1 Gift Package - $3.50
Largest LEGO Basic Set set700-12 Automatic Binding Bricks - 142 pieces
LEGO Mursten is based on the original Automatic Binding Bricks from 1949. In 1952 the LEGO Group decided that they needed a more descriptive name for their brick sets and added the phrase LEGO Mursten, which translates to 'LEGO bricks' to the existing and new boxes, and in 1953 the sets were renamed simply LEGO Mursten.
From 1951–1955 LEGO Mursten was sold as Gift Sets, Supplementary sets and even as single pieces. And these were packaged in no less than three completely different box styles, each overlapping the other. Due to the LEGO Mursten rebranding, LEGO saw a dramatic spike in plastic toys sales in 1952 and by 1953 they accounted for nearly half of the company’s revenue. Despite this success with the Automatic Binding bricks sets they were were still not selling very well. At most, they accounted for less than 10% of total sales and in 1952 LEGO decided that they needed a more descriptive name and added the phrase LEGO Mursten to the boxes and in 1953 the sets were renamed simply LEGO Mursten.