1868 US Proof Set

On any single image, it's a maybe. If you see the same "crack" on multiple images, then it's either in the case or a crack. But it just has a few too many curves for what I usually see from cracks which tend to be a series of cracks from element to element or a longer shallow curve in a field.

 

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Do you need a proof specifically? Or just an 1868 3CS?

 

Till ya win something...........have to say, the wife has done that. Bid on something ya can't possibly win........and then win it...........I was both chagrinned and PO'd at the same time.

 

I bet there are really rich collectors out there who have dozens of years of 1800s proof sets.

One thing I’ve learned is that the very highest end stuff usually doesn’t appear at auction very often. They are held for a lifetime or multiple generations.

 

That is one heck of a set. Wouldn’t mind owning a few of those pieces. Especially love the silver 3 cent.

 

The “5 Cents” also toned beautifully in my opinion. Not the half dime but the other one.

Why would they even need a 5 cents AND half disme?

 

Oh wow I just realized this proof set could be even further completed with the addition of 1868 proof gold coinage.

I imagine that would cost a fortune though. It would be amazing to see though. Every coin from 1858 in proof from the IHC all the way to the Double Eagle.

 

The late John J. Pittman had a lot of them. Some of gold sets were impaired, but he had them. I saw some of them in an exhibit he was showing, and I had a chance to talk to him about how much I enjoyed it.

 

Someone went to a lot of trouble to assemble this proof set. Apparently 1868 has some type of sentimental meaning for the owner. The birth of a grandparent perhaps? Some momentous occurrence in the family? No matter what, a gorgeous collection.

 

I remember the auctions. A really great collection.

 

Price of the Gold sets were $43. And yes you would have to hand over two + oz/ of gold, but you got back a double eagle, eagle, half eagle, three dollar, quarter eagle and gold dollar, face value of $41.50 all in proof. So the premium over face value was only $1.50

There are still some sets in the ANS collection. The Smithsonian had some sets but I think the coins have been split up to be housed with the other series. As mentioned John Pittman has some original cased sets, with receipts from the Mint for the coins and for the case (The cases were custom made for the mint by a local business for the sets and were billed separately.) and they were still sold as cased sets in the sale of his collection. Unfortunately (in my opinion) the buyer of the 1843 set popped out the the gold pieces, had them slabbed and sold them off thus destroying probably the only original cased 1843 set in existence. I would imaging most of the original sets from the Pittman collection have been treated similarly.

When the nickel five cent was introduced silver coins were still being hoarded and I believe the coin was "sold" to congress as a temporary measure to provide coins for circulation until silver returned to circulation. Since it was to be "temporary", authorization for the half dime was not withdrawn and some were struck each year in what was considered sufficient numbers to keep them from becoming rarities. (Internal mint documents make it clear though that they considered a base metal five cent piece to be a good idea as a permanent coin.) Since they were authorized and being struck, proof examples were made as well. By 1873 it became clear that the public liked the larger more easily handled copper nickel five cent (and it was profitable to the government) so it was retained and the half dime was killed off.

I'd like to have one of the full sets of aluminum 1868 proof sets, cent through double eagle. At least five such sets were made and I believe at least one set still exists in it's original case. Two sets did exist but one has been removed from its case and put in slabs. At least two of the other sets still exist as disbursed individual coins. I had seen both of the original cased sets before the one was removed from the case.

The reason the sets were made was because the mint was considering aluminum as a coinage metal and struck some off metal patterns as a test and to show to some Congressmen. One like how they looked and requested a full set of coins be made for him. That led to orders for the additional sets from other Congressmen before the mint cut it off. (Lest they have to make sets for all the congressmen.)

 

In case you missed it, the 1868 Proof set sold for $63,000, including the buyers’ fee. I guess the whole is worth more than the sum of the parts.