Showing posts with label proofs. Show all posts
Showing posts with label proofs. Show all posts

Friday, July 25, 2014

The Price of Proof Sets

When I started buying proof sets from the Mint in the mid 1950's, the price for 91 cents of face value coins was $2.10.   That was an increase from the pre-1950 price of $1.89 and it stayed at $2.10 until 1965, when no proofs were issued but a "Special Mint Set" could be ordered for $4.00.



When proofs resumed in 1968, the price was raised to $5.00.  The coins were now enclosed in a more solid holder, so I suppose the price increase had some justification, but that and the ugly clad coins turned me off and I stopped buying proof sets.

I did buy a 2013 America the Beautiful Quarters Silver set last year. That also is in a better holder, and cost  me $36.90.  The coins are silver, so there may be some argument for that price, but even the 14 coin 2014 proof set (no silver) is $27.95.

Certainly it's good that coin collectors can help defray some of our taxes by giving the Mint these astonishing profit margins, but is it really necessary to charge so much? As a young boy with a $2 weekly allowance, I could afford the $2.10 yearly expense, but I wonder if $27.95 is so easy for today's 7-10 year olds. Perhaps it is: Average Allowances in America, by Age says that $16 per week is about average.

It still seems too expensive to this old fogey.



References:


Clue for the second 2014 Silver Eagle Giveaway: The Lovett Cent



Note:  All my coins are in a safe deposit box.  I keep nothing in my home. 



Thursday, May 15, 2014

2009 Lincoln cents

2009 marked the 100th anniversary of the Lincoln cent and was marked by one year reverse die change encompassing several different varieties.   This is the special Lincoln Proof set of 2009.



PCGS has a special "Legacy Set" holder for those proofs that shows off all of the designs:




In addition to showcasing all four proofs, there's something else special: the coins in those sets have the same metallic content as contained in the 1909 one-cent coin - that is, they are 95% copper, 5% tin and zinc as opposed to the current composition of .975 zinc, .025 copper  (a core of .992 zinc, .008 copper, with a plating of pure copper).

A Mint Set was also issued with the same composition as well as a "Lincoln Coin and Chronicles Set"that also contained a 2009 Abraham Lincoln Commemorative Proof Silver Dollar.






Note that 2009 cents struck for circulation have the normal composition of a zinc core coated with copper.

Errors

The complexity of the reverse design caused die breaks that resulted in a number of interesting errors such as the "Skeleton finger" varieties:







Note:  All my coins are in a safe deposit box.  I keep nothing in my home.