1992-S 1c-50c Silver Proof Set, 5 Coins PR

Original Packaging: A two­-­piece, transparent plastic casing with frosted borders held a black fiberboard insert containing holes for the coins. Printed on this insert was the word “Silver” in silver script. The assembled set was slipped into a black cardboard box upon which the words “United States Mint Silver Proof Set • 1992” were printed in silver script.

The plastic components of this set’s holder were identical to those used for the regular Proof set, and only the paper elements differed, as described above.

Commentary: Collectors clamored for special coins honoring the U.S. Mint’s bicentennial in 1992, but a commemorative medal was struck instead. One consolation was that additional Proof sets were offered in which the three coins historically stuck in 90% silver—the dime, quarter, and half dollar—were again made available in that composition. It was not clear at the time whether this program would continue after the bicentennial year, but collector response was sufficient that the Mint did indeed make silver Proof sets a regular part of its line of collectors’ coins. They are still being offered to the present day.

Also offered in 1992 was the new silver Premier Proof set. This consisted of the same five coins in deluxe packaging, and it was priced at $37 per set. Premier Proof sets are not to be confused with Prestige Proof Sets, which include one or more commemorative coins in addition to the regular types.

Because the cent and nickel were of the same composition in both the regular and silver Proof sets, this led to a curious situation not experienced since the Proof sets of 1975 ­and ­1976. Collectors who purchase both the regular and silver Proof editions, and then break up the sets, find themselves with duplicate cents and nickels. Note how the certified populations of these two coins have risen beginning with 1992. A slight doubled­-­die obverse variety may be found for the 1992­

Source: Whitman