Typetone Purple Proof Indian Set
Typetone
Posts: 1,621 ✭✭
Now that I have three IHC toned proofs, I decided to start a registry set. Still have a very long way to go. Here are the latest two images and a repeat of the previous.
Greg
Greg
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William S. Burroughs, Cities of the Red Night
sincerely michael
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Aaahhhhh!
09/07/2006
Prior to 1878 it was Mint custom to a strike a certain amount of proofs for sets and singles, probably on the order of 1000 pieces. At the end of the year, the leftover pieces were destroyed, either by recoinage or by being placed illegally into circulation. Minor proof issues were not carried on the books as true circulating coinage, so no one knows how many coins were struck. Nor do we known how many were sold, spent, or otherwise destroyed. Beginning in 1878, and continuing beyond the end of the series, David U. Proskey, a Philadelphia dealer, as well as some others began buying the entire issue of unsold minor coins from the Mint. Many of the coins bought by Proskey remained in a huge hoard and was later passed on to Wyate Raymond and F. C.C. Boyd. Raymond’s coins were sold to various dealers in the early 1940’s. Charles French, whos Troy, NY firm “French’s” listed these in ads in “The Numismatist” in the 1940’s The Boyd part of the hoard coins were sold to the Tatam Stamp & Coin of Springfield, MA. Many of the coins were stored in their original Mint wrappers for 30 to 60 years which imparted a iridescent blue, purple and magenta toning. These beautiful coins, when found, now get the BN color designation.
By the way, there are many collectors in competition for these coins. I handle many of them, but they never seem to last. Currently I get $800 for PR66BN's and $500 for PR65BN's with purple toning.
Greg
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