1975-S 1c-$1 Proof Set, 6 Coins PR

Original Packaging: The coins were secured in a clear plastic casing with a red, flocked insert and a black, hinged frame. The hinge provided for an easel display of the set, and the words UNITED STATES PROOF SET appeared at the bottom of the frame in raised, silver lettering. A black cardboard box housed the assembled set, and the words “UNITED STATES PROOF SET • 1975” were printed on it in silver script.

Commentary: No quarters, halves, or dollars dated 1975 were coined. The coins of those denominations minted during 1975 bore a date of 1974 or the dual dates 1776­-­1976. These latter coins carried distinctive reverse designs in commemoration of the nation’s bicentennial. The regular Proof sets sold in 1975 thus consisted of cents and nickels dated 1975­-­S, as well as the three Bicentennial issues in their regular copper­-­nickel­ clad composition.

The Bicentennial coins had only a minimal impact on sales of this year’s sets, but the 1975 Proof set still proved to be a winner. It turned out that the popular S mintmark would no longer appear on cents coined there for circulation, though production of anonymous cents continued at San Francisco for another few years. Instead, the only 1975­-­S cents would be those in the Proof sets, and the value of these sets rose above their issue price almost immediately.

Rumors have persisted for years that a 1975 Proof dime without a mintmark exists, and there may indeed be one or two such coins. This author has not seen one, nor have any been certified. If genuine, this coin is certainly a key rarity in the modern Proof series.

The 1975­-­S Proof sets all seem to include Type 1 dollars. This subtype features more shallow relief and block lettering on its reverse. This distinctive lettering was included in Dennis R. Williams’ winning design for the reverse of the Bicentennial dollar, and the Mint’s engraving staff neglected to change it. Critics of the coins noted that this lettering was in conflict with the serif­-­style lettering of Frank Gasparro’s obverse, and it was altered subsequent to delivery of the 1975 sets. The Type 1 dollar is a bit scarcer and carries a slight premium value. The use of Type is a misnomer, and variety or subtype would be more appropriate. However, by tradition, Type it is!

Source: Whitman