October 6, 2006, Newsletter Issue #37: Proof vs. Mint Sets

Tip of the Week

You've learned about coins and coin collecting. There's so much to know, so much to remember, and now your new collector friends talk about Mint sets. Huh? What's a Mint set? Of course it has something to do with the US Mint, but you just got used to proof sets. Why does the US Mint issue Mint sets anyway and should you collect Mint proof coin sets?

Mint sets are specially packaged groups of coins containing at least one coin from almost all of the denominations of coins issued by one branch of the US Mint for a given year, such as 1964. In the US, proof mint sets come from Philadelphia, home of the Liberty Bell, and Denver. If your US Mint set has mint marks of "D" (Denver), "P" (Philadelphia), "S" (San Francisco), or "W" (West Point), you know where your money has been. You can't say that about pocket change!

Unlike proof coins, mint coins aren't especially manufactured to have that sharp mirrorlike surface. So why would you want US Mint sets? Some good reasons: * Complete sets of coins issued direct and uncirculated by the US Mint. * Valuable for people collecting examples of all the US coinage of the 20th century. * The price you get for a proof Mint set can be several times the face value, especially for 1940s proof Mint Sets. * Mint set comes in the original US government envelope, much like mid-20th century proof sets. * Contains actual (uncirculated) coins issued that year for history fans. * Great for collectors who want to trace the history of US coinage. Of course, there's no reason you can't collect both proof sets and Mint sets. After all, if you're confused, just think of how your buddies will react when you show them your new acquisitions. Then you get to educate everyone for a change.

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