US Mint Proof Tribute Set?

I saw a 1940 Proof Tribute Set the other day and never heard of it. What is a US Mint Proof Tribute Set? And when did they make them?

 

Log in or Sign up to hide this ad.

It is probably a modern issue of "Replicas" in 10 mil silver proof. These are hawked on TV and in the Sunday papers. They look pretty, but have no collector value what ever.

 

And they are not made by the US Mint, they are privately minted. They like to imply that they are real coins, though.

 

Read this:

http://www.usmint.gov/consumer/index.cfm?action=HotItems

 

My dealer bought a 1954 Mint set (P, D, S mints) from a customer last weekend that was still in its orginal packaging. Never had seen one before but can tell you the original packaging, back then, was not good for the coins inside. Other than the fact it was original I wouldn't want those coins in my collection. Pretty rough for something that has never been touched or seen the light of day! And, quite expensive!

 

Thank you all for the information, its appreciated.

 

Please allow me a few seconds of useless ranting.

I really, really get ****ed at stuff like this. I know it doesn't help, and there is nothing that can be done about it, but it really makes me angry. I love this hobby, and I get irritated when bottom-feeding scum-suckers try to take advantage of newbies or the numismatically uneducated. I am sure stuff like this accounts for tons of would be life long coin collectors leaving the hobby in disgust. I know that soon after I was bitten by the coin bug I fell prey to a dirty junk coin dealer in a local farmer's market. He sold and still sells modern issues at multiples of actual retail value, older cleaned and polished common dates, and even complete post-mint altered type crap. One time, after I had read a few coin books, luckily, I saw him selling two headed 'magician coins' as mint errors. I really felt like smacking the guy on that one. This guy almost ruined the hobby for me before I educated myself. I admit I bought some coins from him that were well worn and harshly cleaned, and paid about 3 or 4 times what they would have been worth in mint state. It was my fault for buying the coins before I knew what I was doing, but that doesn't excuse the guy from being a predator. The only thing that saved me was my grandfather's coin collection. I remember when I was a small child he would let me, whenever I asked, look through his cigar box (yes, he really used a cigar box!) full of old coins and tell me about the coins, how he got them, what the country was going through at the time, and what he was going through at the time...such as growing up on a farm, working in a coal mine, joining the army at 16, and eventually marrying my grandmother. That is what got me into coin collecting, and what coin collecting is about to me today. I had to make a sincere effort not to let guys like the previously mentioned shyster ruin that for me. I am afraid many aren't that lucky.

I take back what I said about nothing being able to be done about it. This site is something that can be done about it. The users on this site can help to educate and encourage newcomers so that they don't have to become too jaded too quickly and give up on our wonderful hobby. I am glad I didn't.

Anyway, thanks for letting me rant.

 

The pure silver version of this replica is hard to find and sells for a good premium over melt. Too bad the plastic case etc is really cheap as the coin replicas are very well executed. These pieces are made for National Collectors Mint by Sunshine Mint...who also supplies our US Mint with silver blanks for Eagles. If you collect the replicas becuase you enjoy the way they are made and look...there is nothing wrong with that. If all these collectors are getting disgusted becase they didn't hit on some high paying guranteed investment..then they aren't true collectors anyway.

 

I don't think that the displeasure with National Collectors Mint is that people don't hit on some high-paying investment. The displeasure is that the commercials make vague references and lead one to believe that the coins are US Mint products, which they are not.

In fact, the current 2011 "Tribute" Proof Buffalo Gold coin looks almost identical to a Proof AGB coin issued by the US Mint. From the commercial, you may not see the difference, they look so similar. I don't think that it's people trying to get rich quick as much as it's people who think that they are buying a coin with some value when in actuality, it has little to none. To a non-expert, they can be easy to confuse with genuine US Mint products.

There is proof to back up this argument as the US Mint has copyrighted the term "America The Beautiful Quarters" in order to differentiate between the Mint selling these coins versus other outlets. And these are for the genuine coins! The Mint is trying to make it more obvious when you are buying a product from them or from a secondary dealer. I reckon that if they could figure out a way to make it crystal clear about these National Collector's Mint coins, they would, but the National Collector's Mint is not violating any law. The pieces are either fantasy pieces or marked copy.

I would like to see a change to the Hobby Protection Act that would state as such: No imitation numismatic item may feature the words "United States of America" or any real US denomination regardless of whether or not it is marked "Copy". or a mandate that the manufacturer's company name must appear on the coin would also work as only the US Mint would be able to make coins that have the words United States of America on them. This would differentiate the genuine US Mint products from fantasy and imitation pieces.

 

awesome post! I wish we could get that page printed in every newspaper right next to the ads for the fakes.

 

I enjoy the copies and would not think there is any need for more regulation than currently used on these pieces. There are many US Mint items that loose value too. Some of the NC Mint copies are very well made....with tooling that costs every bit as much as what US Mint uses. Plus a Buffalo copy is $19...the real deal $1500...big difference...hardly deceptive. The first being sold for a petty amount.

 

You can sell some of these replicas (the better ones) on Ebay easily for retail or more...if the item is no longer available. The medals are very well made...and cleary marked Copy...the ads state copy several times too. There will always be people who think anything that is round and metal is a US coin. Removing "USA" from collectibles would close the market off to a bunch of great products. I really dont think anyway is being suckered over a $19 well-made medal. $19 is what something like that costs when considering the tooling. If they sold it for $1500 then that would be a problem.

 

Could you give me an example of one of these great products?

 

Patriotic sculptures, eagles, plates, any number of art medals..historical medal struck by Franklin Mint i.e. History of the US...these programs were magnificent...far better than anything the US Mint has struck in Modern Times. And most of the current US Mints sculpting staff started at Franklin Mint back when it was the worlds largest mint. Replicas are very interesting collectibles. To compare a $20 replica to a $1500 coin is absurd. The pieces I have from NC Mint...are very well-made. The quality alone makes it well worth the price.

Then you have fantasy pieces like Daniel Carr's 64 Peace Dollar and Proof overstruck 2009 Silver Eagle. Both are amazing pieces...and will easily sell for their retail or more on Ebay. These are great collectibles that you obviously want to deprive people of owning just because you dont care for them. All of these private products have interested collectors. I would hate for my only collecting option to be the US Mints modern ugly commems. How many people buy US mint proof sets hoping to make big bucks...or buy golden dollars thinking they have gold in them? it happens all the time.

There are plenty of great patriotic collectibles. Most of the items made by Franklin Mint in the 1970's are outstanding...made in USA in their own factories. American pewter...silver plates..etc. Trends and tastes change...items aren't always going to bring big bucks...but that doesnt matter...its what you enjoy owning.

 

So why do they feel compelled to make a coin that is almost an exact replica of a currently available US coin? The "American Buffalo Gold tribute" coin can and does (by novices) get mistaken for a real American Gold Buffalo coin. The design is currently available from the United States Mint. I would say that if they have something far better than the Mint, then manufacture them. NCM needs to stop trying to copy current Mint issues simply because they are not only easily confused with the genuine article, but I think are intentionally designed to do so.

 

It's really funny, but I get at least 1 person a week asking me about these commercials at work and whether or not they are worth it. I wonder how many didn't ask before they bought one.

 

Its a $19 copy...there is no way that once you hold it you would be confused by the copy. The ad is clear too. Plus you have 60 days to return it for a full refund, no questions asked. The people that ask how much is it worth aren't collectrors..they only care about buying something that may go up in value. They most likely would never pay $1600 for the real one thinking that is too much. Is the copy worth $19..yes it is...its a very well-made piece of medallic art. The die work on the copy is stunning....for $19. How much will that US Mint $1600 gold buffalo be worth once gold falls to $750/ounce? I bet that $19 replica will sell to some interested collector on Ebay for more than $19. I have sold several of these copies to thin my collection and never had an issue. NC Mint is giving people a fun tirbute to something they most likely could not afford otherwise. Natuarlly I get both but I like anything that is minted...public or private. I would never asking anyon advise as to how much something is worth...that is a foolish question to ask if you are a real collector. Each item is only worth what someone else is willing to pay.

 

If you can't tell from the commercial, then it is indeed misleading.

That's kind of presumptuous of you. But regardless of that fact the ad skates the line and although it never lies, even as an experienced collector, I had to listen very carefully to understand exactly what it is that they are selling. That's the point. People can buy anything that they want. What I object to is a company trying to make their product seem like something it is not. (In this case a GENUINE US Mint product.)