Coin Set

Discussion in 'Coin Chat' started by kc_hhsl, Jun 6, 2011.

  1. kc_hhsl

    kc_hhsl New Member

    Okay - learning here.

    On ebay I was looking at coin sets. One was up for auction and it was labeled "1968 Silver Proof Set". I finally got it in the mail in it does not say "silver" what-so-ever. Looks just like a proof set from any other year.

    Question - did they make a 1968 Silver Proof Set? If so - how can it be identified?

    Thanks
    KS
     
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  3. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    They made proof sets in 1968...it was the first year they were minted in San Francisco. However, they didn't make "silver proof sets" like they do today. Clad coinage began in 1965 for quarters and dimes...but not for half dollars. Half Dollars from 1965-1970 are 40% silver. So, every 1968 proof set contains a 40% silver half. So...yes it does contain silver, but it's not a "silver proof set" like are minted today.

    But, who knows...maybe you got lucky. Check the dime, there is a rare error in 1968 proof sets. A few were issued with no mint mark on the dime.
     
  4. 5dollarEdunote

    5dollarEdunote Coin Connoisseur

    It's possible that they were describing the half dollar, which is 40% silver.
     
  5. BUncirculated

    BUncirculated Well-Known Member

    No.

    If you search eBay you'll notice most all proof sets pre-1970 are titled as Silver Proof Set. It's a sales gimmick sellers started several years ago to attract attention to their auction/BIN listing, even though it's pretty much a given that proof sets dated prior to 1970 are going to contain silver.
     
  6. 19Lyds

    19Lyds Member of the United States of Confusion

    The set does have silver in it so I see nothing wrong with calling it a silver proof set to highlight that fact. Just like the 1955 - 1964 sets don't have an "official" silver proof set they are still referred to as silver proof sets.
     
  7. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    The only problem I have with it is the phrase "silver proof set" means something in today's world of coin collecting due to the current mint products. It means 90% silver in the dime, quarter and half. I don't have that big of an issue with 1964 and before sets because that's what they have (although it is a little misleading by calling them "silver proof sets" because it implies that there were non-silver sets...just like the naming today). However, the 65-70 sets have much less silver than what we call "silver proof sets" today and IMHO calling them as such as a sales pitch is at least slightly misleading.
     
  8. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    No offense, KS, but this is something every beginner should be able to learn very easily if you have a copy of the Red Book of United States Coins. I don't know what you paid for the proof set, but the money could have at least made a downpayment on the book.

    Chris
     
  9. 19Lyds

    19Lyds Member of the United States of Confusion

    Today's silver market has a melt value of $5.53 cents for these proof half dollars by themselves. Just because they are in a proof set should they sell for any less? Are the other proof coins within the set worthless?

    Exactly WHY should the fact that the set has real Silver in it not be mentioned as long as the metal content of the other coins is spelled out?
     
  10. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    And that is the key. If it said "1968 proof set with 40% silver half" I think it would be fine. However, by calling it a "silver proof set" and based on the OPs description...that's all it said is misleading. It's misleading because in numismatics today...a "silver proof set" as a specific meaning because of the sets produced since 1992 and this set does not have the same silver coins. I have no problem with the seller pointing out the fact that the half dollar is 40% silver...but this is not a "silver proof set" and should not be called that IMHO.
     
  11. jloring

    jloring Senior Citizen

  12. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

  13. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    For some danged reason I lack one of these sets. What the heck was I doing back then? Oh, senior year in High School. Never mind.....:)
     
  14. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    LOL, I missing the set from my senior year too...probably had other things on my mind. ;)
     
  15. kc_hhsl

    kc_hhsl New Member

    No offense cpm9ball ... but your comment makes some assumptions that I would assume someone with maturity and experience would not begin to make. First you assumed a beginner should know about the "red book" and/or has a copy. I wouldn't even begin to suggest I know much about this hobby - see total # of posts I've put out here "37" you 5,849 ...

    Reason for being out here is to learn and understand. In fact I actually bought that set before I ever found this forum.

    KC
     
  16. kc_hhsl

    kc_hhsl New Member

    You hit the proverbial nail on the head from my point of view. I would not question the ethics of using silver as long as it was correctly noted. I initially thought they made these sets with actual silver coins - except for the penny. When I got it I looked at the packaging and it said nothing about "silver". I am aware that the 1/2 dollar would contain silver based on the year.

    Thanks for the insight!

    KC
     
  17. DMiller

    DMiller Junior Member

    In that case, if you haven't yet, your next step should be to buy yourself a copy of the "Red Book", or more accurately, A Guide Book Of United States Coins (wiki link). I'm still a beginner myself, but this book provides a tremendous amount of information in a very concise format that is extremely helpful for beginners and advanced collectors alike!
     
  18. McBlzr

    McBlzr Sr Professional Collector

    Got the 2012 edition, the first week in April. from eBay. Great details, bad for prices because of the fluctuating silver & gold market.
     

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  19. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    I don't think his comments were meant to be rude in anyway. If you look through the history of this forum...probably every new collector has been told the first thing they need is a copy of the Red Book. It has the basic information about US coins every collector needs and is invaluable. If you don't have one, I strongly suggest you get one before you buy your next coin. There is a saying here "buy then book, then the coin" because education is truly the key in this hobby. However, I wouldn't pay much attention to the prices in the book...but the information about each coin is very useful. I probably buy a new edition every 5 years or so.
     
  20. kc_hhsl

    kc_hhsl New Member

    Question - how accurate are the prices in this book? I am use to baseball cards and the use of Beckett or Tuff Stuff for pricing cards. However, these come out monthly and it shows how cards have moved over the past 30 days.

    So with respect to this book - are they within reason? Like comparing to what sells on ebay?

    I've also heard there is a "black book" - is it any more or less accurate?

    I find it hard to see an annual book having any legit pricing after one or two months.

    KC
     
  21. CamaroDMD

    CamaroDMD [Insert Clever Title] Supporter

    No, the prices are not good. I use them for relative values from coin to coin and to get a VERY general ballpark. Websites like Heritage are much better for value. However, the coin specific information is very useful. For example, you could have looked up the specifics of the 1968 proof coins prior to buying your set and found that only the half is silver.

    Then again...Beckett isn't that accurate for sports cards either. Cards tend to sell for far less than book value.
     
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