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 Replies: 23 / Views: 2,081 |
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Valued Member
United States
141 Posts |
I just took a look at a few websites and about fell off my chair. Of the few proof set's that I own, I have a 1999 Silver and 2001 Silver!
Needless to say, I wish I'd invested in 1999 Silver proofs instead of a 401k that loses money buy the pound. Seriously though, how to you folks approach the proof sets? Just a couple or do you break the bank and buy as many as you can?
Also, I need to get my terminology straight. Should I be calling them Mint Sets, Proof Sets, both or some combination?
Thanks for indulging my rookie questions!
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Moderator
 United States
187582 Posts |
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Of the few proof set's that I own, I have a 1999 Silver and 2001 Silver! Very nice!  Quote:
Should I be calling them Mint Sets, Proof Sets, both or some combination? Mint Sets and Proof Sets are two different things. I pulled this from the Glossary: mint setA set of Uncirculated coins from a particular year comprising coins from each Mint. (Usually, this term refers to government issued Mint Sets, although for many years, it has been loosely used for any set of Uncirculated coins from a particular year. Also, the government Mint Sets issued from 1947 until 1958 were double sets.) ProofA coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes. PCGS recognizes Proofs (PR) as those struck in 1817 and later. Those coins struck prior to 1817 are recognized as Specimen strikes (SP). Proof setA coin set containing Proof issues from particular year. A few sets contain anomalies such as the 1804 dollar and eagle in 1834 presentation Proof sets. |
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Pillar of the Community
United States
1807 Posts |
I worry sometimes when I see a proof set for sale and I think it's really a mint set. Anyone see this as well?
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Pillar of the Community
United States
1121 Posts |
hawkeye,  99 proof and 01 proof?! Very nice. They are actually the only two I need.  You made a nice investment if you bought them in 99 and 01! Congrats again and Welcome to the best coin forum on the net! |
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Pillar of the Community
United States
7123 Posts |
Hi Hawkeye
since I'm not in the hobby as an investment , I only order 1 of each per year .
I have those set up on a subscription they come automatically .
The mint produces both mint and proof sets ,the distinction between the two is that mint sets are coins that had they not been put into a set would be in circulation, proof coins were never intended to circulate and are struck specifically for collectors .
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Bedrock of the Community
United States
17884 Posts |
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I worry sometimes when I see a proof set for sale and I think it's really a mint set. Anyone see this as well? The only time period where you really have to worry about this is 1959 to 1964. During those years both the mint set and the proof set were packaged in the same pliofilm type packaging and I have seen half mint sets being sold as proof sets and proof sets being sold as mint sets. Coins packaged in aftermarket holders may be ither proofs or uncirculated but are not "sets" And the uncirculated coins in aftermarket holders ar NOT worth the premium that a genuine mint set would command. |
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Pillar of the Community
United States
6326 Posts |
Metalman....you said Quote:
The mint produces both mint and proof sets ,the distinction between the two is that mint sets are coins that had they not been put into a set would be in circulation, proof coins were never intended to circulate and are struck specifically for collectors . Isn't it the case that the last four years of Mint Uncirculated Sets this would not be so. "Circulating coins" are now different than the Mint Uncirc. Sets".Satin finish on Mint sets are different than "circulating" coins from 2005 on. The United States Mint changed the finish on the Uncirculated Mint Sets
going with a Satin Finish, which gives the coins a light frosted look.About Satin Finish Over the last 100 years, the U.S. Mint has occasionally struck one-of-a kind and limited edition coins in a satin finish which are highly prized by collectors. In 2005, for the first time in its history, the Mint struck all 11 coins from the Philadelphia Mint and all 11 coins from the Denver Mint in an exquisite satin finish.The United States Mint Uncirculated 20-Coin Set 2006 for example, Includes two envelopes of 10 coins each, a complete set of 2006-dated circulating coins from the United States Mint at Philadelphia and Denver. Special Satin-finish on these uncirculated Mint Set coins. Uncirculated coins are minted on special presses and struck with greater force than circulating coins. Coins are protectively sealed in clear Mylar, and carefully handled to ensure that these pristine coins will stay in their original mint condition.
Edited by eaglefoot
01/02/2009 2:41 pm
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Pillar of the Community
United States
7123 Posts |
The finish on the coins of the Unc sets really make little difference they are representative of circulation coinage , and far different from the Proof strike coins .
If you want to argue that the satin sets are somehow different then thats ok by me , but to me they are nothing more than mint sets .
I dis-agreed with the SMS designation when they came out that has not changed , There were three years where the SMS designation made sense 65,66,and 67 the coins in these sets were struck on specially prepared dies and struck at higher pressures , the satin coins are struck exactly the same as business strike coins with a chemically etched die and if the truth be known the entire process and hype was designed to hide the design flaws of the coins.
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Pillar of the Community
United States
6326 Posts |
For my own information, which may be wrong, I was just under the impression the the "Satin finish" method IS done by special/different presses and struck with greater force, which makes them quite different than the coins released for circulation. This then, I thought, like in the three years you mentioned, would now make these "Mint Sets" differentiated by this "special" method using "different" presses and "struck harder" than their "released for circulation" counterparts. I certainly respect your opinion more than my own......  ...... so if this is wrong, I'd like to know for sure !..... Could you explain more about what you mean..."hiding design flaws" and that they aren't different presses struck harder, and this chemical etching method......I haven't heard of these things before with the "Satin Finish" coins produced now. |
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Pillar of the Community
United States
7123 Posts |
From the mint The United States Mint has chosen the new satin finish because it is handsome and provides consistency for United States Mint uncirculated products, including the Uncirculated Coin Set, Commemorative Coins and American Eagle Silver Bullion (uncirculated) coins. The satin finish, which will be continued on uncirculated coin sets in the future, will also help collectors differentiate between Uncirculated Coins in the United States Mint Uncirculated Coin Sets and those coins in bags and rolls that have never circulated. If you take a look at the coins struck in 2005 especially the Jefferson nickel series you will see what I mean by design flaws , the strike quality of the coins was extremely bad , the mint struggled with getting good strikes and clean surfaces they were so bad that the normal circulation strike coins were or would have been a loss in sales of the Unc sets, the solution was the satin finish which they spread acsross the entire production , minimalising their problems and increasing the demand at the same time . If you look around you may find some of the original conversations here when this satin finish system began, and of course there will always be opposing opinions , the press releases and the subsequent TPG conversations and the eventual labeling of these coins as SMS all made to order for the mint and their marketing direction . The only real difference is the etched dies used to strike the coins for the mint sets and other forsale Items available from the mint . |
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Moderator
United States
187582 Posts |
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"Circulating coins" are now different than the Mint Uncirc. Sets". Quote:
The satin finish, which will be continued on uncirculated coin sets in the future, will also help collectors differentiate between Uncirculated Coins in the United States Mint Uncirculated Coin Sets and those coins in bags and rolls that have never circulated. In my opinion, this statement backs up eaglefoot's point. I do see Metalman's point as well. To each their own!  I only collect the business strikes direct from circulation. The only mint sets I have purchased were to acquire NIFC issues, like my 1973 and 1973-D Cu-Ni Clad Eisenhower dollars. But since they are different there will be people that will collect both these and the normal circulation strikes. I have no problem with that, "collect what you like!" |
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Pillar of the Community
United States
1228 Posts |
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Pillar of the Community
United States
7123 Posts |
Is there any reference to extra pressures , and special machines which strike the coins ? the only difference is the etched dies .they are called SMS ,,How special are the satin mint coins if they are the regular issue in the mint sets ?
is that enough to set them apart ? each will have their own opinion on that and decide for themselves if that is enough to pay a premium for .
to me its not .
I concede that they are slightly different based on the finish if you get coins which are struck relitively early in the run on new dies .
The 1 set that I own has little appearance of a satin finish on the coins .
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Rest in Peace
United States
3730 Posts |
Due to the economic crunch, I buy only two silver proof sets each year. One for me, and one for my wife.
I had two 1999 silver proof sets, but one of our grandsons was born in 1999, so I gave one to him.
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Moderator
United States
187582 Posts |
Quote:
Is there any reference to extra pressures , and special machines which strike the coins ? the only difference is the etched dies .they are called SMS ,,How special are the satin mint coins if they are the regular issue in the mint sets ?
is that enough to set them apart ? each will have their own opinion on that and decide for themselves if that is enough to pay a premium for . I agree, there is nowhere near enough difference to legitimately call them different. I collect business strikes from circulation, not from mint sets. I purchase the proof sets for the proof coins because they are, by your definition, truly different! I do not collect the 2005+ mint sets just because the mint says they are different. This is eaglefoot's point: they are being sold as different, so they must be, because why else would they inform you how to tell them apart from the normal business strikes! You and I agree they are really not that special or even really that different. My final point was that someone will decide that this "difference" is important to them and collect both. Edited by jbuck
01/02/2009 9:57 pm
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Pillar of the Community
United States
2734 Posts |
I have a loose Satin Finish 2006-D Colorado Quarter, and the burnished die effect is really apparent when put it's compared next to a BU business strike of same. The Satin Finish (outside of the Mint wrap) looks a lot like a "W" A.S.E., and that's a good look to have!  I have a five-Quarter frosted plastic holder, and I was thinking to put all Colorado Quarters in it. Clad Proof in center, Satin Finish D and P's next to it, and the D and P BU business strikes on the ends. A 'worthless' but unique set that I can leave on my desk...  |
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Replies: 23 / Views: 2,081 |
Posted 01/02/2009 11:50 am
