Investing In State Quarter Proof Sets
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When the 50 States Commemorative Coin Program Act was signed into law in 1997, it had a triple purpose..First, it wanted to promote state history and culture to children. The state quarter sets were to commemorate the states that make up this great country.The third goal was to help inspire a new generation of coin collectors.
Beginning in January 1999 with the release of the Delaware commemorative, a new state quarter was released approximately every ten weeks with five coins being released per year.The last quarter in original 50 states was released in 2008.
The program was a resounding success.It has been estimated that 147 million of United States citizens collected the state quarters
issued in the program’s ten year run.To further the goal of the program, quarter proof sets were also sold by
the United States Mint for collectors.
State Quarter proof coins were minted only by the San Francisco Mint.The standard state quarter were produced at the Philadelphia and Denver mints.The minting process utilizes special coin blanks and polish dies to strike the coin multiple times.This results in a mirror-like background and sharp relief of the design.Finally, to give the coin a cameo-like appearance, the foreground is sculpted and frosted.
Quarter proof sets are typically more prized by numismatists, or coin collectors.This is due to several factors.One, the special minting process results in the highest quality state quarters.Two, the fact that these sets are purchased directly from the United States Mint, rather than put into circulation, also adds to their value.Proof coins are almost always in better condition then the standard mint sets.
Since proof coins are produced in smaller quantities, it also increase the value.Increased rarity produces increased value.The 2008 proof sets doubled in value within a year.Proof sets from the beginning of the program are now valued as high as $50 to $60.
These will continue to increase in value as more time passes.
A proof set also comes with an authenticity certification.Proof sets are specially packaged by the United State mint giving them something a little extra special.This additional care, not given to coins released into circulation, also aids value.
Proof sets are originally sold only directly from the mint.However, you can now purchase them from stores that cater to coin collectors.Some can even be purchased on auction sites such as eBay.
With the state quarter craze, a new interest in coin collecting was sparked across the ountry.Many people did not collect coins prior to the state quarter program.New state quarter investors are best to start with the 1999 quarters since those will likely be the most difficult to find.
A good place to get started collecting state quarter sets is with the 1999 state quarter proof set.
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