Update on 2001 Silver Proof Sets Toning
hookooekoo
Posts: 381 ✭✭✭
There was a post about a year ago regarding toning in some of the 2001 Silver Proof Sets while they were still in the original Mint packaging.
(I'm pretty sure it was 2001 and not 2000. Can someone confirm which year it was, I reviewed my a couple of weeks ago while I was in the safe-deposit box and don't remember which one for sure now).
I have two set of the Silver Proofs Set from that year and the dimes have most definitely turning a shade of yellow.
These are stored with the other Silver Proof in the same safe-deposit box, so it is something about the coins for that year and not just the way they have been stored.
BTW, they are stored inside the original red box from the mint and the box is stored inside the original cardboard box they were shipped from the mint. I keep some silica gel inside the safe-deposit box, and the safe-deposit vault is in a one story bank with the vault door open to the teller area.
(I'm pretty sure it was 2001 and not 2000. Can someone confirm which year it was, I reviewed my a couple of weeks ago while I was in the safe-deposit box and don't remember which one for sure now).
I have two set of the Silver Proofs Set from that year and the dimes have most definitely turning a shade of yellow.
These are stored with the other Silver Proof in the same safe-deposit box, so it is something about the coins for that year and not just the way they have been stored.
BTW, they are stored inside the original red box from the mint and the box is stored inside the original cardboard box they were shipped from the mint. I keep some silica gel inside the safe-deposit box, and the safe-deposit vault is in a one story bank with the vault door open to the teller area.
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Dan
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"It is unfortunate that initial inventory inspections earlier this year failed to uncover the damage, and we regret any inconvenience this may have caused to our customers," said David Pickens, the Mint's associate director for sales and marketing. "The United States Mint is committed to the strictest quality standards - anything less is unacceptable." All remaining 1999, 2000 and 2001 Proof sets will be destroyed, according to Mint officials.
Evidence of tarnishing and spotting on certain coins in the 1999 Proof sets has exceeded acceptable quality standards, according to Pickens. As a consequence of this evaluation, sales of the sets have been discontinued, he said.
Mint spokesman Matt Kilbourne said that the deterioration was confined to a small number of sets, but the decision was made to destroy all the sets in inventory rather than risk shipping out additional inferior products.
See related Editorial.
The Mint began offering the combined Proof sets on May 29 in an unprecedented marketing promotion employing products that were either previously reported as sold out or no longer available. The Mint offered the three sets, limited to a total release of 150,000 combined set packages, for $94.95, approximately the same price collectors would pay on the secondary market buying the sets from coin dealers. The Mint originally offered the individual sets at the time of their release for $19.95 per set.
In its June 25 announcement that it was withdrawing the combined Proof set offer, Mint officials reported the Mint has no numismatic inventory of Proof sets, Uncirculated Mint sets, or Silver Proof sets from previous years that will be offered.
According to a Mint press release, the rationale for the abandoned promotion was that the 10-year State quarter dollars program would require the Mint to offer "catch-up sets" like the 1999, 2000 and 2001 bundle. This inventory was held back for future collectors; however, no further sets will be inventoried in the future, according to the Mint.
Those 1999-2001 Proof Set Collection orders received prior to June 13 will be processed, according to the Mint. The Mint stands behind all its products with a 30-day "no-questions-asked" customer satisfaction policy - customers may return products for a return or replacement within 30 days of receiving them if they are dissatisfied with their purchase.
For additional information on how to obtain a refund, customers may visit the United States Mint's Web site at www.usmint.gov/catalog. Customers also can contact a United States Mint customer service representative by calling (800) USA-MINT (872-6468). Hearing and speech impaired customers may call (888) 321-MINT (6468) (TTY).
This was a different issue.
You'll note that the main issue in the Coin World artical was Evidence of tarnishing and spotting on certain coins in the 1999 Proof sets has exceeded acceptable quality standards.
The issue that was raised here was that several people noticed toning specifically only on the 2001 Silver Proof sets (again, was it 2001 or 2000, can't be sure til I hit the bank again). These sets did not have spotting or haze, but they did look fine the day they arrived.
After about a year, someone posted about this particular year's set toning. Not that another year has passed, I was interested if anyone else had checked specifically on their toning sets to see how they look now.