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Proof Set Or Mint Set?

 
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Valued Member

United States
75 Posts
 Posted 01/19/2020  12:32 am Show Profile   Bookmark this topic Add James Lackeys Coins505 to your friends list Get a Link to this Message
I have what is described as a proof set from the treasury department but I don't know if it is a proof set or a mint set.
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United States
1279 Posts
 Posted 01/19/2020  12:36 am  Show Profile   Bookmark this reply Add QuarterHoarder72 to your friends list Get a Link to this Reply
Could be an impaired proof set.
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United States
4896 Posts
 Posted 01/19/2020  12:50 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Looks like a typical 1961 proof set from that era. A pinkish info slip came with each set. Both were packaged together in a tan envelop. The tan envelop had the return address for the Treasury in the upper left corner. The year of the proof set was usually in the lower left corner.

Your set looks nice and original! Enjoy it in its original form! Many of these sets have been cut up for slabbing, sold off for silver melt or just plain destroyed the last 60 years!

BTW....The original cost from the Treasury was $2.10 which included the shipping!
Edited by westernsky
01/19/2020 01:01 am
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Canada
3173 Posts
 Posted 01/19/2020  01:02 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
COA pretty much tells you it's a proof set .
Still in its original packaging .
Valued Member
United States
75 Posts
 Posted 01/19/2020  01:25 am  Show Profile   Bookmark this reply Add James Lackeys Coins505 to your friends list Get a Link to this Reply
Thank you all for your help on this, I just thought all proof coins came from san francisco. The nickel has a deep toning to it, would it just be oxidizing?
New Member
United States
8 Posts
 Posted 01/19/2020  07:59 am  Show Profile   Bookmark this reply Add Coin_CollectorGi to your friends list Get a Link to this Reply
I think its maybe a mint set, because the coins a little worn out. Idk really.
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United States
529 Posts
 Posted 01/19/2020  08:50 am  Show Profile   Bookmark this reply Add CherryPicker1 to your friends list Get a Link to this Reply
This is a proof set, it even says on the COA. Mint sets never came in this packaging.
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12627 Posts
 Posted 01/19/2020  09:15 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
Yes it's a proof set . And yes you were able to purchase 100 of these sets per household at $2.10 each . If we only knew ! Melt alone on the dime ,quarter and half would have been some investment .
Proud Member of The Black Sheep Squadron !
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United States
4896 Posts
 Posted 01/19/2020  12:23 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply

Quote:
I just thought all proof coins came from san francisco.


San Francisco started making S-mint proof sets with the 1968 issue.

The last Philadelphia sets were dated 1964.

No proof sets were issued in 1965, 1966 or 1967. We were blessed with what were called Special Mint Sets (SMS) in those years. They are kind of a cross between mint and proof coins. Some coins in some of those sets actually look "proof".
Valued Member
United States
307 Posts
 Posted 01/19/2020  1:08 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
I have several sets through this timespan. While the nickel may have some toning, it's not uncommon at all with these sets.
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16210 Posts
 Posted 01/20/2020  7:20 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
If we only knew ! Melt alone on the dime ,quarter and half would have been some investment.

Not really. Not sure what the latest value on these sets are, but to just keep up with inflation (the official version not real world) they would have to be $12. So in constant dollar terms they really haven't appreciated much at all.
Gary Schmidt
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United States
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 Posted 01/20/2020  8:41 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

Quote:
Not really. Not sure what the latest value on these sets are, but to just keep up with inflation (the official version not real world) they would have to be $12. So in constant dollar terms they really haven't appreciated much at all.

I meant if you bought 100 sets in 1961 for $2.10 each and sold them today , the melt value alone on the dime ,quarter and half would have been a great investment .
Proud Member of The Black Sheep Squadron !
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16210 Posts
 Posted 01/21/2020  11:57 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
I know that is what you meant. If you had bought 100 sets you would have spent $210. In order to break even at the official rate of inflation you would need to receive roughly $1,200. What are dealers paying for scrap silver? If it is 13X you will get $11.05 per set or $1,105 dollars. If you can get another $100 for all the proof cents and nickels you get $1,205 total. Congratulations your "investment" broke even. Of course if dealers are paying less than 13X you've lost money in terms of actual purchasing power.

I don't consider breaking even after almost 60 years of "growth" to be a great investment.
Gary Schmidt
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