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 Replies: 7 / Views: 1,678 |
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Valued Member
United States
128 Posts |
Can anyone explain why the 1958 proof mintage is just under 300K below the 57 and 59 proof sets?
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Rest in Peace
United States
9104 Posts |
Fairly sure that was an economically slow year. Proof sets are hardly a necessity. Look how all the 58P issues are scarce that year.
On top of that, someone tried hoarding one of the years of proof sets, I think 58, though it might have been 57 or 59. Any time you find a dealr with a large proof set inventory, that year is notably in much lower supply.
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Valued Member
 United States
128 Posts |
Fred that makes some sense - I do know that there was a recession period however, I believe it was a short lived and maybe not quite a recession but a simple down turn economically. I do know the 57's and 59 proofs were each minted in the million(+)and the 58's were in the 800,000's.
If the us mint thought to reduce cost because of economy I am very impressed and find it unlikely in not remarkable! I can't believe this is the reason. Got to be something more. I will have to dig into this further.
Thanks for the reply.
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Bedrock of the Community
United States
12437 Posts |
Quote:
On top of that, someone tried hoarding one of the years of proof sets, I think 58, though it might have been 57 or 59. Good call biggfredd, I was just reading something about that the other day but I did not remember the dates off the top of my head. I went back to the link and sure enough, there was a huge investment and bust in 1957. Collectors approved of the change, and the million set mark was quickly reached as sales nearly doubled from 378,200 in 1955 to 669,384 sets in 1956 and nearly doubled again to 1,247,952 sets in 1957. This last figure was due in part to the Prudential Insurance Co. speculating in over 100,000 of the sets, the largest numismatic transaction up to that date, though they later changed their investment strategy and dumped the sets back onto the market, depressing the bid for them to less than issue price.
http://www.coinlink.com/Articles/us...-proof-sets/ |
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Valued Member
United States
128 Posts |
BiggFredd and Biokemist6,
Ok I believe thanks for the help. And link to referenced article very interesting.
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Rest in Peace
United States
9104 Posts |
Didn't know about that. That would probably qualify as one of the first major non-numismatic investors speculating in coins as if they were an investment, with predictable results.
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Moderator
 United States
188660 Posts |
Biokemist, I really enjoyed that article. Thanks!  |
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Rest in Peace
United States
9104 Posts |
I would think Tom DeLorey would know better than this: Quote:
The 1966 and 1967 SMS sets were packaged in hard plastic holders purchased from the Whitman Coin Products division of Western Publishing and ultrasonically sealed. They were simple two-piece snap together cases, comparable to the 5 and 6 hole Whitman plastic cases still available today. |
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Replies: 7 / Views: 1,678 |
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Posted 08/13/2008 2:59 pm
