1972-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 • 1972.”

Commentary: The Proof set of 1972 is another whose value uncertified has never advanced much. This is entirely a matter of traditional perception, as this set is no more common than later ones of comparable mintage. It is usually cast with the 1968, 1969, and 1971 sets, and, like those dates, it seems something of a bargain.

The Eisenhower dollar, which had been minted for general circulation since late 1971, would not be included in Proof sets until 1973. The sets of 1972 featured only the cent through the half dollar.

A rare variety of the Proof 1972­-­S cent features doubling on liberty and IN GOD WE TRUST. A note of caution: be careful to distinguish between die doubling, which is highly collectible, and common strike doubling, which adds nothing to the value of a coin. One way to spot strike doubling is to check the mintmark. Since this feature was applied to each die after it was hubbed, it would not share in the die doubling effect. Any doubling seen on a mintmark is usually indicative of strike doubling. The leading (but not all) certification services are aware of doubled-dies vis­-­à­-­vis strike doubling, and coins they certify as doubled-dies were made as such.

In the year 1972, cameo coins began to comprise a significant percentage of the Proof mintage. While still outnumbered by fully brilliant pieces, cameo and deep cameo Proofs are sufficiently available to be within the budget of most collectors. Aside from the degree of frosting they possess, the Proofs made before 1978 are of a lesser quality overall, so examples grading above Proof­-­67 are still scarce.

Source: Whitman