U.S. Proof and Mint Sets Popular Among Collectors

Question: Can you list for me or direct me to where I can find the original costs of U.S. proof and mint sets?--K.T.

Answer: Proof sets and mint sets are among the most popular ways to collect coins. Proof sets contain coins that are specially struck on polished dies, attaining a mirror-like finish. Mint sets contain regular coins that are uncirculated. Modern proof sets have been issued since 1936; uncirculated mint sets have been issued since 1947. Proof sets contain one example of each denomination; uncirculated sets usually contain examples from different mints.

The original costs of proof and mint sets are listed in the Guide Book of United States Coins by R. S. Yeoman. The original issue price for proof sets from 1936 through 1942, for example, was $1.89. These sets are all now in the $1,000-and-up range. A 1936 proof set can set you back about $5,000. That’s because only 3,837 were produced.

However, all these sets have become so popular that since the 1970s, sales have soared to the millions. Consequently, many of the more recent issues have not retained their value, while early dates, especially original sets, continue to rise due to supply and demand.

What’s true for proof sets also holds for uncirculated sets. The earlier ones are quite valuable, compared to the original issue price. Many of the later issues are actually worth less than the original price--at least at this time. However, if you’re a collector, it’s still important to have all the dates. And, undoubtedly, with the passage of time and additional collectors entering the hobby, even the current sets will advance in value.

Mint and proof sets are fun. But there are many more challenging areas for the adventurous collectors.

Q: I have two 1934 $50 Federal Reserve Notes. Are they of any more value than the $50?--N.R.S.

A: Sorry, your bills just have face value.

Q: I have a Mexican silver peso of the Maximillian reign with his likeness on it. It’s dated 1866 in very fine (VF) condition. I also have a U.S. half eagle gold piece dated 1888 with an S mint mark. It is in extra fine (EF) condition.--P.E.O.

A: Your Mexican Maximillian coin is worth about $50. The $5 gold piece is $125 and up, depending upon condition.

Q: At the beginning of February, it was announced that the Canadian Royal Mint was issuing silver coins, for which I mailed a $34 check. Since then I have not heard from them. True, the check was never cashed. I would like to write to them but I have no address. Can you help me with the address?--H.L.

A: Not to worry. I get letters like this from time to time, but all problems seem eventually to get resolved. The Canadian Mint, like the U.S. Mint and other government mints, is very dependable. Make inquiries to the Royal Canadian Mint, P.O. Box 478, Station A, Ottawa, Ontario, K1N 9L9.

Q: I will appreciate your help in ascertaining the value of the following gold coins: Edward VII, 1905; Edward VII, 1909; George V, 1911; and George V, 1926. --R.K.B.

A: Your British gold coins are known as sovereigns. If they are half sovereigns, they’re worth $50 each; full sovereigns are $110 each.

Q: Please give me the value of uncirculated half dollars, quarters and dimes dated 1954 and 1958. They’re in bank wrappers.--R.A.

A: Just because coins are in bank wrappers is no guarantee they’re uncirculated. Prices vary depending upon the year and mint mark. They’re worth 4.5% times face value and up.

Q: I have a Buffalo nickel without the year; 1943 and 1944 nickels with an S and P on top of Monticello; and a 1935-S penny. Are they worth anything?--A.P.

A: Your dateless Buffalo nickel is worth about 6 cents; the ’43 and ’44 nickels are about 40 cents each; and the 1935-S cent is probably only worth face value.

Q: What is the value of a wooden 25-cent piece issued by the Chamber of Commerce of Tenino, Wash., August 1932? It is stamped number 184. There’s the old adage--the warning against “taking a wooden nickel.” How about a wooden quarter?--W.J.D.

A: Your wooden quarter is not worth much to regular coin collectors, but there are people who collect such material. Contact the California Wooden Money Assn., in care of Awanda Ayers, 2345 S. San Antonio Ave., Pomona, Calif. 91766.

Q: I would appreciate your comments and evaluation of the enclosed ad.--G.S.

A: The advertisement in question appears to come from a Rotary magazine and is advocating French gold coinage. I would hesitate to get involved with such material, because U.S. coins have a better track record in this country. And now that America’s first gold bullion coins, the Eagles, are available, there’s even less reason to buy foreign material. Investment-quality U.S. gold coins continue to lead the numismatic market.

Q: I have a 1985 Canadian silver dollar commemorating the 100th anniversary of Canadian National Parks, in proof condition. On the obverse of the coin, there is a little dust mark right below the Roman numeral II, where it says Elizabeth II. Can you tell me a safe way to clean that mark? Is it necessary to have it cleaned by a professional coin dealer? Would such a dust mark be permanently set on the coin if not cleaned soon? If not, is it best to just leave it the way it is? Finally, would such a mark have an effect on the price of the coin if I were to sell it in the future?--R.K.

A: You worry too much. If the speck you mention is indeed dust, forget it. It won’t affect the price now or in the future. However, it if bothers you too much, you can remove it with either jewel luster or rubbing alcohol applied to a cotton swab. Dab gently.

Coin News

Ancient Judean coin symbols are used on modern Israel coins. For collectors, special Piefort specimens (double normal thickness) have been struck in proof-like condition. Israel’s 39th Anniversary Piefort Mint Set includes five coins (pictured) containing a Star of David mint mark. Only 18,000 of these sets are being issued, for $18 from the Israel Government Coins and Medals Corp., 5 Ahad Ha’am St., Jerusalem 91022, Israel; or order from the distributor, J.J. Van Grover Ltd., P.O. Box 123, Oakland Gardens, N.Y. 11364.

Coin Calendar

Saturday and Sunday--The fourth semiannual Pasadena Coin, Stamp and Fine Jewelry Show will take place at the Pasadena Center, 300 E. Green St., Pasadena. Hours are 10 a.m. to 7 p.m. Saturday; 10 a.m. to 5 p.m. Sunday. Admission is free. For information, contact Rudy Christians, (916) 221-4653.

Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.