contagious asked:Quote:
Can you talk about the official mintage vs net mintage and what likely happened to unsold pieces? Also which commems had proofs struck and how did that come about?
The first question was addressed here:
Question & Answer #04 - Mintage Terminology/Unsold CoinsThis post will address the second question - proof coins.
A few points of background:
The term "Proof" denotes a method of manufacture, not a grade/condition. Once a proof coin, always a proof coin - no matter how impaired it might get from circulation and/or mishandling.
There were two types of proof coins struck within the US commemorative coin series of the classic era: brilliant and sandblast.
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Brilliant proofs are those that have frosted devices and smooth mirror-like fields. They result from polished dies and, generally, polished planchets. These are the coins being considered when the term "Cameo" is used as a descriptor. As they are typically struck more slowly, with more pressure and/or multiple times, they typically have details that are sharper and better-defined vs. standard strikes.
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Sandblast proofs are coins that were struck using new, but unpolished dies; they were struck on unpolished planchets. The struck coin were then subjected to pressurized spraying ("blasting") by fine sand particles, imbuing a dull grey color to their surfaces (think "pewter").
Only a small number of classic-era silver and gold commemorative coins had
official proof coins struck (e.g., at sponsor's request). A number of issues had clandestine proof coins struck that were not requested by the sponsor. Such coins were struck specifically for a Mint employee (e.g., the Chief Engraver) or VIP. This post focuses on the
official proof coins vs. clandestine proof strikes.
A number of classic-era US commemorative coins are considered to have some examples of "Proof-like" coins among those struck. These coins generally exhibit highly reflective fields and display above-average contrast between their devices and fields, but they are not true proof coins. (I posted about a proof-like Roanoke Colony Memorial half dollar here:
1937 Roanoke Colony - MS 65 Proof-Like.
Following is a list of the issues with officially-struck proof coins:
Year Coin Mintage Notes
1892 World's Columbian Exposition Half Dollar (Columbus) 100 (1)
1893 World's Columbian Exposition Quarter Dollar (Isabella) 100 (2)
1904 Louisiana Purchase Exposition Gold Dollar - Jefferson Type 100
1904 Louisiana Purchase Exposition Gold Dollar - McKinley Type 100
1928 Hawaiian Discovery (European) Sesquicentennial 50
- Sand-blasted proofs with matte finish
1938 New Rochelle 250th Anniversary 50 (3)
Notes1. The Mint has reported that coins #2 through #101 were struck as proof coins (thus the 100 quantity listed), In addition, some consider the 400th, the 1,492nd, the 1,892nd 1892-dated coins plus the first 1893-dated coin to also be proof strikes. So, you will see mintage counts vary from 100 to 104 for this issue.
2. The Mint has reported that 100
Isabella Quarter dollars were struck as proof coins in 1893. Some consider the 400th, the 1,492nd and the 1,892nd 1892-dated coins also to be proof strikes. So, you will see mintage counts vary from 100 to 103 for this issue.
3. The US Mint made 50 special strikes of the 1938 New Rochelle coin by request of its sponsor. These coins were struck using polished dies and planchets but not strictly as proof coins; They can exhibit mirrored fields that contrast nicely with the devices, I consider them proof-like, but some put them in the "proof" category, so I reference them here.
You will encounter additional coins in grading service holders with "Proof" designations, but such coins are often coins that were struck using fresh dies, or were part of the clandestine operations mentioned above vs. official proof coins per US Mint records.
Posted 08/15/2022 10:42 am
