1973-S 1c-$1 Proof Set, 6 Coins PR

Original Packaging: A more elaborate variation of the standard plastic case was adopted for 1973 to coincide with the inclusion of a Proof dollar coin. The clear plastic case was retained, but it included receptacles with raised rims to secure the coins. Serving as a backdrop was a flexible insert covered in red flocking. The transparent holder was encased within a black plastic frame featuring a rigid cover that was attached to it via a hinge at the bottom of the frame. This cover could be swung on its hinges to provide an easel­-­type display of the set. The words UNITED STATES PROOF SET appeared at the bottom of the frame in raised, silver lettering. The assembled set was inserted into a box of construction similar to that used from 1968­ to ­1972, but the inscription “UNITED STATES PROOF SET • 1973” was in silver ink on black cardboard.

Commentary: The lackluster price performance of the 1971 and ­1972 sets seems to have had an impact on sales this year. Despite the widely heralded inclusion of the Eisenhower dollar in this year’s sets, the net mintage of Proofs was down. The price increase from $5 to $7 certainly didn’t help matters.

The Eisenhower dollar had been minted for general circulation since 1971, but it debuted in the fall of that year, too late to be included in 1971 Proof sets. Collectors had every reason to expect that this coin would be a part of the 1972 sets, but it was not. There was no technical reason for not including it. Instead, the problem was likely due to the Mint’s quaint budgeting procedures. The Mint still operated under an annual appropriation, and money for any additional operations required a supplemental appropriation from Congress. This evidently did not arrive until the 1973 sets were being planned, and it provided for the revised packaging to accommodate the dollar coin.

Though no dollar coins were made for circulation in 1973, this seems to have had little impact on the value of Proofs. By this time, collectors had grown accustomed to the S­-­Mint, Proof­-­only coins.

In 1973 and later years, Proofs lacking a cameo finish became increasingly fewer in number and their value as certified coins is minimal. Therefore, they have been excluded from this and subsequent certified coin tables.

Source: Whitman