Recently, I located this set from the defunct Franklin Mint and nearly missed it. The FM secured contracts for coinage from several Caribbean and other states in the period of 1970 through 1985 with a progressive wind down in the 1980-85 period and only sporadic issues after that. Guyana was one such country and contracted for coins from the FM during the 1976 to 1980 interval. Most of the coins were 6 and 8 coin proof sets, the latter of which included 2 silver coins - a 0.925 sterling 10 Dollar featuring National Hero Cuffy on reverse and National coat of arms to obverse & an 0.800 silver 5 Dollar coin with hero Critchlow on reverse. The remainder of coins in the set were copper nickel or bronze. In 1976 and ‘77 they struck 100 Dollar proof gold coins in 0.500 fine gold with net gold content of about 1/10 ounce, these in proof. Now interestingly they (the FM) had a policy of “legitimizing” their profitable Proof coins by striking uncirculated versions of these proofs. I have posted several times about them on these Boards. For the uncirculated versions, both the PL and matte non-gold denominations were struck in lesser metals (like copper nickel in this instance), such as the Guyana 5 and $10 coins & even lower denominations struck in the same metals as in the proof sets which generally were bronze, copper nickel or aluminum. The first two pictures are of the set in question, and the third of a proof set where one can see the difference visually. The first set is of uncirculated prooflike specimen quality and despite my continuing interest in the area have never seen in all my years. It may well have not even been recorded in the FM records. Exact sets of this type are published for the 1977 and 1978 years and also of prooflike quality. Individual MATTE uncirculated coins are known and on sale occasionally for the 1976 year alone but no individual PL unc coins in this first year are known by me. This however is in full 8 coin specimen format with the larger two coins of copper nickel and as stated I’ve never seen any trace of or sale of previously. Some 5 and 6 coin FM uncirculated sets were cobbled together by the Central Bank of Guyana but these are usually mixed dates and the 1976 year coins when included with rare exceptions are of the matte type. FM does have records of unc. P-L coins struck for 1976 in the amount of 50 for each denomination of 1c through $1 and possibly 300 each in PL for the two larger denominations. Here are the pictures: 1976 Specimen Set: The 1976 Proof set reverses: Here are bonus pictures of the unc. $5 and $10 coins:
You will notice some corrosion on the 5 and 10 dollar coins especially and think I will have to break apart the set and conserve as best as possible the surfaces.
Depending on the "freshness" of the planchets and the dies the flow lines will suffer and the "cartwheel" will be impaired, or, as here, in the case of PLs, be nonexistent. They're still good coins, they just lack the bounce or "livliness" they're supposed to have. Here's a synopsis on PFs and PRs: https://www.pcgs.com/news/differences-between-proof-and-prooflike-coins. Examining close, you can tell which are which. I always save PLs when I come across them, too.
The $5 coin is salvageable. The $10 coin will look a little better after a soak and the growth of the spot will stop but I doubt you can remove it. Despite their low mintages coins such as these are now being destroyed in large numbers (percentages of mintage) because there are so few buyers. While the $10 coin above is probably the result of poor quality (a contaminant inside the holder) most of the FM coins are all of stunning quality and usually good artistry. They have everything they need to be valuable coins except for collectors. In time this will likely change and your writing may be the cause. I'm sending this stuff (not the rare ones) in for melting because I don't want to leave the task for my heirs. It's a crying shame.
CK on the money IMHO as usual. These will have no melt value as they are copper nickel. I tried a reduction reaction that will remove superficial oxidation and stabilize the surface - pictures to follow. The 5 Dol. did very well. Artwork on the 10 Dol. Cuffy bust is superb. I agree that these are not appreciated and leaves them open for the fun of collecting.
I'm sending in a lot of the silver versions for destruction. I don't want to but there's no market and holding them longer is out of the question. I'm setting aside the perfect specimens for now but these will go in as well in the long run unless a market develops. A lot of the stuff you are collecting is very scarce or rare and I'm certainly not melting anything with mintages under 1000 and I have very very few with mintages under a few hundred. A lot of your collection is quite rare. I had never had the ability or patience to seek such coins and was loathe to pay significant premiums. I should have done it more like you. Live and learn.
