1964 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: Responding to the extraordinary demand for the new Kennedy half dollar, the U.S. Mint produced a record for Proof set coinage that would stand for a dozen years. This turned out to be the final year of Proof sets until 1968, as the Mint overreacted to the nationwide coin shortage by suspending Proof coins sales.

While such a large number of Proof coins might be expected to have resulted in poor quality for this date, only a relatively small percentage of 1964 Proof coins reveal worn or overpolished dies. Most of this year’s Proofs, of course, have little or no cameo contrast, but that was the norm before the 1970s. Cameo Proofs are available for all denominations, and ultra cameo coins form a small but collectible percentage of the 1964 Proofs. The half dollar is especially sought in such condition, as it is the first year of issue for the Kennedy type. Until a special production for collectors took place beginning in 1992, it was also the only Kennedy half dollar date minted in traditional .900 fine silver.

Given this date’s high mintage, one would expect a greater number of varieties than are actually known. The numeral 9 in the date of the dime has either a pointed or blunt tail, and there are collectors for both. In addition, the dime offers one doubled­-­die obverse variety, with prominent doubling in the motto IN GOD WE TRUST. A doubled­-­die obverse for the half dollar likewise is very popular with collectors, though not especially rare.

The most highly sought variety from the 1964 Proof sets is the so­-­called “Accented Hair” half dollar. It appears that a single working hub had a few extra lines added to Kennedy’s hair above his ear, and this feature was transferred to one or more working dies for Proofs alone. While most of the hair on Kennedy’s head appears in raised lines, these additional lines are incused. They form a curving shape that is similar to a wishbone that has been split evenly in two and are best seen by holding the coin so that Kennedy’s face is pointing toward the light source. This popular variety commands a premium price, especially when found with cameo or deep cameo contrast. The latter is quite rare.

Source: Whitman