1961 1c-50c Proof Set, 5 Coins PR

Original Packaging: The five coins were sealed into a single pliofilm envelope with pockets for each coin, a sixth pocket containing an embossed and printed paper seal reading US MINT PHILADELPHIA in blue on a silver background. The set was protected from damage by two strips of cardstock, and all three pieces were inserted, along with a brief fact sheet, into a buff-colored mailing envelope. This carried a pre­-­printed return address and a discreet notation of its contents.

Commentary: Collectors and speculators, perhaps still in a state of excitement over the 1960 Small Date cents, ordered a record number of Proof sets this year. The Mint again nearly doubled its output, coming at a time when reports of regional shortages of circulating coins were emerging. This problem was largely overlooked by the hobby in 1961, but it would have serious repercussions on the collecting of Proof coins just a few years later.

1961 is another date notable for doubling varieties. A tripled­-­die reverse is known for a minority of the 1961 nickels. Though very slight and affecting only the lettering, it is still a popular one with specialists and may be found unattributed within sets priced at regular levels. By far the biggest score for 1961 would be to find one of the rare Proof half dollars having a spectacularly doubled reverse. So obvious is the doubling in e pluribus unum that it is hard to believe such coins ever left the Philadelphia Mint undetected. Obviously, this error was caught before many coins were issued, as this variety remains quite rare. All of these varieties are especially rare having cameo contrast. As for normal Proofs of this date having cameo and deep cameo contrast, the story is much the same as for 1960. Though representing only a tiny percentage of the coins made, enough dies were used this year to produce a small but collectible pool of frosty coins. As always, the overall grade of a coin will factor into its value, as cameo and deep cameo pieces were subject to the same mishandling and poor storage by collectors as their less distinguished siblings. Remember, it was not until comparatively recently that cameo and ultra cameo Proofs have received the respect they deserve.

Source: Whitman