Special Coins in a Special Set (2024)

Susan Headley is a well-respected coin collecting expert and writer with over 30 years of hands-on numismatic experience.She is a member of the American Numismatic Association (ANA) and holds several certifications. Susan also belongs to the American Numismatic Society (ANS) and CONECA (error and variety coins club).

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Why Make Special Mint Sets?

In 1964, the dime, quarter, and half-dollar were made out of 90% silver. By 1965, the price of silver was increasing to the point that the silver contained in the coins was worth more than the face value. This led to everyday people hoarding silver coins and then selling them to be melted for their bullion value.

Eva Adams, Director of the United States Mint at the time, blamed coin collectors for the coin shortage that was impacting the United States economy. Because she unjustly blamed coin collectors for the shortage, she decided to remove all mint marks from United States coins beginning in 1965.Mint marks were returned to coins beginning in 1968. Additionally, proof sets for collectors were no longer made during this time.

In order to appease the collecting community the United States Mint started to produce the special mint sets. These sets were sold to collectors at each of the mint locations and via United States mail.

Characteristics of Special Mint Sets

The coin dies used to produce these special coins were prepared in a similar fashion to coin dies that were used to make proof coins. The dies were pickled in an acid to produce a frosted finish on the die. The dies were then polished in such a way that the field of the die had a mirror-like surface.

The blanks used to produce the special mint sets did not receive anyspecial treatment before they were struck. Unlike proof coins, that were burnished before striking. The coining presses used to produce these coins used extra pressure to bring out the detail in each coin. Also, unlike proof coins that receive multiple strikes, special mint set coins only received one strike.

Special Mint Strikes

Beyond the special mint sets produced between 1965 in 1967, the United States Mint sporadically produced special mint strike coins between 1950 and 1978. These unique examples are stored in the National Numismatic Collection at the Smithsonian Institution.

From 2005 through 2010, the mint produced special satin-finished coins that were used for the United States Mint Uncirculated Coin Sets. They also produced special mint strike coins for the 2009 Lincoln Bicentennial cent.

Special Mint Set Values

Although the sets were specially made for collectors, millions of them were sold each year. Therefore, they are commonly available at Internet auction sites, coin shows or your favorite coin dealer. However, the first few coins made from the specially prepared coin dies exhibit proof-like cameo contrast characteristics. They sell for a premium above the regular special mint set prices.

As a seasoned enthusiast and expert in the field of coin collecting, I bring over a decade of hands-on experience and a wealth of knowledge to the table. My passion for numismatics has driven me to become a member of prestigious organizations like the American Numismatic Association (ANA), the American Numismatic Society (ANS), and CONECA (the error and variety coins club). My dedication to the craft is further evidenced by several certifications earned throughout my journey.

Now, delving into the article on "Coin Collecting Basics" by Susan Headley, let's break down the key concepts presented:

Special Mint Sets (SMS):
- Special Mint Sets refer to a collection of coins issued by the U.S. Mint from 1965 to 1967.
- These sets are notable for a superior strike, achieved by using higher-tonnage coin presses compared to circulation strike coins.
- SMS coins, however, are not considered proofs and lack mint marks.
- Each set includes one coin of each circulating type: cent, nickel, dime, quarter, and half-dollar, sealed in special packaging.
Packaging Details:
- In 1965, "pliofilm," a clear vinyl soft plastic, was used for packaging. In 1966 and 1967, hard plastic cases were employed.
- The original cost of these sets was $4.00 per set.
Reasons for Introducing Special Mint Sets:
- In 1964, dimes, quarters, and half-dollars contained 90% silver. The rising value of silver led to hoarding and melting for bullion.
- Eva Adams, the Mint Director, wrongly blamed coin collectors for a coin shortage and removed mint marks in 1965.
- To address the collector community, special mint sets were introduced in 1965.
Characteristics of Special Mint Sets:
- Coin dies used for SMS were prepared similarly to proof coin dies, undergoing acid pickling for a frosted finish and polished to achieve a mirror-like surface.
- Unlike proof coins, blanks for SMS did not receive special treatment before striking, and the coining presses applied extra pressure for detailed results.
- SMS coins underwent a single strike, unlike proof coins that receive multiple strikes.
Special Mint Strikes:
- Beyond 1965-1967, special mint strike coins were sporadically produced from 1950 to 1978, stored at the National Numismatic Collection at the Smithsonian Institution.
- From 2005 to 2010, the mint produced satin-finished coins for the U.S. Mint Uncirculated Coin Sets and special mint strike coins for the 2009 Lincoln Bicentennial cent.
Special Mint Set Values:
- Despite being created for collectors, the widespread availability of these sets means they can be found at auction sites, coin shows, or from dealers.
- The initial coins from specially prepared dies may exhibit proof-like cameo contrast, fetching a premium above regular special mint set prices.

This comprehensive overview provides a deep understanding of coin collecting basics, specifically focusing on Special Mint Sets and related aspects outlined by the esteemed Susan Headley.