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The Year & Coin Type That The US Mint First Produced Proof Coins

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mdpmedia's Avatar
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 Posted 10/02/2016  8:49 pm Show Profile   Bookmark this topic Add mdpmedia to your friends list Get a Link to this Message Number of Subscribers
Can anyone provide a link to a page discussing this issue insofar as the timeline and reasoning for the US Mint to begin creating proof coins?

Google's a bit weak on this one...
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CoinCollector2012's Avatar
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 Posted 10/02/2016  9:09 pm  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
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NH collector's Avatar
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 Posted 10/03/2016  10:01 am  Show Profile   Bookmark this reply Add NH collector to your friends list Get a Link to this Reply
Technically, Proof coins were made for collectors. Most Bust Type proof coins are not real proofs, but specimen strikes. I had this conversation with Walter Breen many years ago. The TPG services are now realizing this, and refusing to slab previously called proof coins as proofs. My 1828 Dime is a perfect example (was PR-64 PCGS, now in a NGC holder as MS-64). The pedigree lists it as proof as early as 1890. Now to answer the topic; Actual proof coins were first struck in the 1840's to satisfy collectors. In theory, the new coinage machinery of 1836-38 could have been in use to strike proof coins, however there may not have been a demand for proof coinage then.
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billjones's Avatar
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 Posted 10/03/2016  4:29 pm  Show Profile   Bookmark this reply Add billjones to your friends list Get a Link to this Reply
I think that U.S. Proof coins were made earlier than the 1840s. This Type I Gobrecht dollar was issued in 1836, and I can't see any reason not to call it a Proof. PCGS graded it PR-62. It probably would have made PR-63 or 64 had it not been for a dull spot in the right obverse field.

The-Year-&-Coin-Type-That-The-US-Mint-First-Produced-Proof-Coins The-Year-&-Coin-Type-That-The-US-Mint-First-Produced-Proof-Coins

The first full Proof sets were made for diplomatic purposes in 1834. The most famous of these is "The King Siam" Proof set, which contains and 1804 dollar a long with an 1804 $10 gold and the rest of coins dated 1834. To me this set is the best thing in American numismatics, but it's always been out of my reach financially.

The Philadelphia Mint made Proof coins made sporadically in the 1840s. Assembled Proof sets show up now and then. The date 1846 comes to mind.

The Philadelphia Mint really got into the Proof coin business in 1858. That's the first year that collectors could easily purchase Proof coins for a modest striking fee. The sets were eventually sold in three parts: the minor, coins that contained no silver, the silver coins and the gold pieces. Original sets that have been together since they were made are rare and are of great historic importance. They provide emission sequence information with respect of die varieties, and the silver and gold coins (if they are part of the set) have a uniform appearance with respect to toning.
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Coinfrog's Avatar
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 Posted 10/03/2016  4:36 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Good history and consistent with everything I've read over a long life of collecting.
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mdpmedia's Avatar
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 Posted 10/03/2016  5:14 pm  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply

Quote:
Type I Gobrecht dollar was issued in 1836


Considering its age and patina this coin is one of the most splendid proofs I have ever seen.
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