1969-S 1c-50c Proof Set, 5 Coins PR

Original Packaging: A transparent plastic casing surrounded a black plastic insert containing the coins. This was inserted into a blue cardboard box upon which, in white script, appears “UNITED STATES PROOF SET • 1969”. The tuck­-­in flap at the top of the box was used for some of this year’s sets, but a new design having a flap on the face of the box was transitioned for the 1969 sets.

Commentary: Like the 1968­-­S sets before them, the 1969­-­S Proof sets were ordered in much greater numbers than the Mint could produce. Disappointed collectors and speculators had to watch in frustration as these sets were bid up to $15 in the months following their arrival. Just like the previous year’s sets, however, these too fell in value once the initial fever subsided. This history has dogged them ever since, and the current low price for Mint­-­sealed sets seems a bargain. These sets certainly did not prove to be a good long­-­term investment for those who purchased them at issue price, unless they were fortunate to receive sets that included cameo coins.

The 1969­-­S Proof coins are of similar appearance to those dated 1968­-­S, but they are much less likely to reveal a loss of detail due to overpolished dies. The cent in particular looks quite sharp, as the Mint created an entirely new obverse hub for 1969. This came after years of deterioration in Lincoln’s portrait, made all too evident by the 1968 Proofs.

The only interesting varieties for this date are found on the quarter. These include a triple­-­punched mintmark, as well as a doubled­-­die obverse affecting the date and LIBERTY.

Following a trend that began with the resumption of Proof coinage the previous year, cameo and ultra cameo coins are more readily available than they are for Proofs of earlier times. The Mint seems to have changed dies more frequently to prevent their erosion, and fresh dies resulted in coins having frosted legends and devices. Collectors at this time were just beginning to appreciate cameo coins, though the premiums attached to such pieces today were unknown then. It was a time when the discriminating collector could pick up a future bargain whose value was not even suspected by the seller.

Source: Whitman