1987-S 1c-50c Proof Set, 5 Coins PR

Original Packaging: A two­-­piece, transparent plastic casing with frosted borders held a purple fiberboard insert containing holes for the coins. This was slipped into a purple cardboard box upon which the words “UNITED STATES PROOF SET • 1987” were printed in silver script.

Commentary: 1987 is another routine entry in this long and popular series. There are no significant varieties or rarities to report.

Sales were up this year for a very simple reason. It was announced at the beginning of the year that no half dollars would be coined for circulation, so collectors scrambled to purchase extra Proof sets and Uncirculated sets. By 1987 it was clear to everyone that the half dollar was no longer a circulating coin and had not been one since the 1960s. The announcement of a one­-­year suspension in half dollar coinage for circulation was, in all likelihood, just a marketing gimmick on the part of the Mint to boost interest in its products.

Though sales of Proof sets had been fairly steady through the 1980s, interest in the Mint’s Uncirculated sets was way down. The limited edition half dollars of 1987 caused a spike in the sales of both products, though it was just a temporary boost. The high sales resulted in a poor secondary market for this year’s Proof set, and it is a much better buy today than it was in 1987.

Source: Whitman