Expert: PAPAJACK - 7/23/2007

Question
QUESTION: I have inherited some coins, and my grandfather had a newspaper article attached to a couple of 1990 uncirculated U.S. Mint Proof sets which talks about a penny with no mint mark from this year and set being very rare.  How can I tell if my penny which has no mint mark is one of these rare sets or if it was simply struck in Philadelphia?

ANSWER: Hello Jason,

Proof sets and Mint Sets look different and are packaged differently.
The proof 1990 no S ranges from about $1,200 to $1,850 dollars. It should have a Frosted appearance on the raised portion of the image for it to be a proof. Proof cents are specially made; they have a cameo image and thicker copper plating than the business strike coin.
The Proof sets come in a hard plastic holder, they all had a frosted or cameo designs against a mirrored field, all coins were made in the San Francisco mint.  

Whereas coins made for circulation (business strike) are the common qualities of a new coin in your pocket.
They are made at 2 mints Philadelphia and Denver.  The Philadelphia issue cents have no mint mark and the Denver issue cent has a “D” below the date.  

If you have a proof condition 1990 coin that does not have the letter “S” below the date it is the valuable one.

US Mint Sets (coins made for but never issued into circulation) were distributed in flexible plastic and placed the paper envelopes. They contained circulation coins from each mint in one package for each mint.

Collectables like this are graded Mint State MS60 to MS70 to set the value. Sometimes the buyers want them in the Proof Set Case they came in. Other collectors will buy the coin out of the set.

If you need information on grading let me know. I would be happy to help.
Please remember to go to the experts site to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack


---------- FOLLOW-UP ----------

QUESTION: bummer.... so i read that as well that is was just the S.F. sets that the penny was missing the mark, correct.  it is normal for the Philadelphia penny (yes i have the sets in the clear flexible plastic) not to have a mark...ironic thing is we live about 5 minutes from S.D...why o why couldn't gramps just buy the local ones (haha)...  as it turns out I have three sets of the Denver and Philadelphia sets, but I haven't come across any from across the bay.  Well my grandfather was quite the collector and i believe I probably have every proof set at least once or two times over starting in about 1940 on up to 1999... Anything else I might look for as I am trying to fund my Brazilian vacation?
Thanks for the tips and if you can think of anything rare for me to look for and I find it, I will do business with you solely promise...i just don't know what I should be looking for and he had a huge collection!
Thanks again,
Jason

Answer
Hello Again Jason,          

It is correct that only the 1990 PROOF CENT missing the S mint mark is expensive.
It is also correct that the Philadelphia Mint does not place a P mint mark on the One Cent coins.
In 1990 San Francisco did not produce coins for circulation so there were no Mint sets from there. The last time San Francisco did make coins in mint sets was 1981. They only produce Proof Sets since then and some commemorative coins.

Proof sets still intact from 1940 to around 1955 are still valuable and could pay for a vacation for you. They continue to go up in value depending on the grade of each coin in the set. From 1956 to 1960 they trade from $25 to $50 per set. Proof sets made after 1960 are plentiful with some selling as little as $4 for the 1982 set.
There are too many variables to list here for you but borrow or buy a copy of "A Guide Book of UNITED STATES COINS" (Blue book for dealers or Red Book for collectors) by R. S. YEOMAN. It details all the accepted verities of coins in the proof sets and gives values for them as well. It is issued every year.
It will list things like the 1960 Small date proof set, the 1968 no mint mark proof dime set selling for as much as $15,000 for a set at auction. And all the prestige sets and silver sets as well.
This book is for all US coins and will help you classify your collection and separate out any coins you need more information on. Break your collection down into groups to tackle the job easier. Like just concentrating on the mint sets first then the proof sets then Lincoln cents etc.  

I hope this information helps.  Please remember to rate this answer. Feel free to ask any question on US Coins.

Good Luck

PapaJack