February 21, 2010

State Quarter Proof Set Investing

When the 50 States Commemorative Coin Program Act was signed into law in 1997, it had a triple purpose..The program hoped to encourage knowledge in our youth about each state’s history and culture, as well as their contribution to the Union. The state quarter sets were to commemorate the states that make up this great country.Finally, the third goal of the program was to encourage coin collection, specifically in the younger generations.

The first 5 quarters were released in 1999 and then 5 more were released each year after.The last quarter in original 50 states was released in 2008.

The program was a resounding success.Almost half of the US population began collecting states quarters.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.This is unlike regular state quarters, which were minted by the mint facilities in Denver and Philadelphia.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. Proofs are the highest quality coin. Also,these coins are never put into circulation but instead purchased directly from the mint. Uncirculated coins tend to have less wear and tear than those released into circulation.

Proof sets are minted in smaller quantities than those released into circulation. The rarer the coin, the more valuable. The 2008 proof sets doubled in value within a year. Set from the earlier years are valued at to dollars.

These will continue to increase in value as more time passes.

Finally, the quarter proof sets come with a certificate of authenticity. They are also specially packaged by the United States Mint.This additional care, not given to coins released into circulation, also aids value.

The quarter proof sets were sold through the United States Mint originally. However, you can now purchase them from stores that cater to coin collectors. You can even find them online like ebay.

With the state quarter craze, a new interest in coin collecting was sparked across the country. 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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