Place pickling spices in a cheesecloth bag.
In a large saucepan, combine vinegar, sugar, cinnamon, salt and the spice bag; bring to a boil.
Drain the beets, reserving 3/4 cup of juice.
Stir beets and reserved juice into saucepan.
Pour into a 1-1/2-qt.glass container.
Cover and refrigerate overnight.
Remove spice bag before serving.