1950 1c-50c Proof Set, 5 Coins PR

The strain of producing a tremendous numbers of coins for circulation during the World War II years led to a suspension of Proof coin manufacture after 1942. As soon as the war ended, collectors began to plead for its resumption, but a spokesperson for the U.S. Mint claimed that the department was struggling with budget restraints imposed by the post­-­war recession and accumulated Federal debt. A bill to provide the funding for resumption of Proof production was not passed until 1950, being signed into law by President Harry S Truman on May 10.

Orders were accepted beginning July 17, by which time 10,000 sets had already been produced. The coin collecting hobby had experienced marked growth since 1942, and total sales of Proof sets were double those of the last pre­-­war issue. The popularity of this year’s set was undoubtedly increased by the fact that it included the first Proofs made for both the Roosevelt dime and Franklin half dollar.

The Mint had to once again relearn the art of polishing Proof dies and planchets. Many of the 1950 Proof coins have a finish more satiny than brilliant, much like the early sets of 1936. While the Satin Finish Proofs have a certain unique charm, collectors clearly prefer brilliant fields. When such coins also possess frosty white lettering and devices, for the all­-­too­-­rare cameo quality, they are better still.

Cameo Proofs, while available for all denominations of 1950, are very scarce. Deep or ultra cameo pieces are extremely rare and may be expected to bring substantial premiums.

The Proof coins of 1950 are very scarce in grades exceeding PF-­66. The harshness of the cellophane envelopes, combined with the coins’ freedom to slide around within them, led to some pieces acquiring hairline scratches that diminish their grades. Many of the Proofs produced before the 1955 introduction of pliofilm packaging suffer from such hairlines, as well as cloudy toning. Collectors’ inexpert attempts at cleaning these coins often led to further and much more severe hairlining.

Source: Whitman