So, why were there no proof coins struck during the 1920's?

dan1ecu

Well, there might have been some proof Peace Dollars from the 20's if I recall correctly, but why were there no proof sets with 1C, 5C, 10C, etc.? People probably could have afforded proof sets during the Roaring 20's. A proof Standing Liberty Quarter would be a beautiful thing!

Dan

lordmarcovan

Tighter economic conditions meant less collectors, perhaps? There were less coins struck during the 1920's, period.

Merc

Good question. I made an exhibit on the 1940 proof sets for the FUN show. While doing research for it, I couldn't find why proof coinage resumed in 1936. Proof coinage stopped during World War 1 but didn't restart until 1936. This seems odd after the mint making proof sets for so many years. Proofs were made from 1854 to 1915 then it just stopped.

FC57Coins

I think part of the reason that production stopped might've been because of the wholesale design changes that took effect in 1916 plus the war effort. After the war perhaps there was little interest on the part of the mint to continue with the process, particularly if mintages were down - speculation on my part.

Frank

melikecoins

Yea, I have dreams of what a proof standing liberty, maybe even a deep cameo one would look like.
Gee that would be nice.
I love that coin and to see the condition of most of them makes me sick.
Glen

FC57Coins

A matte-proof set of 1921 coins would've been an awesome grouping!

Lincoln
Buffalo
Merc
SLQ
Walker
Morgan
Peace
and of course a Saint!

rainbowroosie

Didn't Mr. Cline have (or still has) a proof SLQ?? Seem to remember a coin World article about one?? If so, anyone got a picture??

njcoincrank

There are a few. Mostly US Commems. Sesqui's and Hawaiians etc.

Of course most (except the Hawaiian) of these coins were struck by mint officials for their personal pleasure.

My guess as to why there were no regular proofs has to do with public demand.

At this time there was a shift towards matte proof coins, and the public just didn't like them. I believe that all proofs, with the exception of the 1921 satin proof, struck in the 20's were mattes.

njcoincrank

WANNABEDEALER

There were 4 specimen 1916 coins stuck, 2 uniface, one obverse, one reverse, and two complete. One was destroyed and the coin Cline has was scratched by the designer to change the design, NGC has graded it Specimen 65. Mr Cline bought the coin in the 1980's in an auction.
There also were 5 1927 Buffalo nickels stuck by Sinock using chromium plated dies and they were graded specimen by NGC. There is no mistaking those coins for business strikes, they are matte and struck like no business strike I have ever seen. I know a dealer who owned two of them at one time.
There were some Chapman and Zerbe proof Morgans made, and some matte proof 1921 and 1922 Peace dollars.

michael

for me these are the secret years at the mint for proof? so called proof? coins

many theories and conjectures hVE BEEN ADVANCED BUT CLEARLY there were secret proofs made or i like to call them special preparation and strikings of coins for collectors??? /very important persons!

for me i think that along with the war that stopped proof production early on in these years the people in power or with the power to desire and authorize proof coin strikings just did not do it/authorise it/ were interested themselves in producing proof coins so they went unmade for the most part

except for some secret mintings as per the above for important personages

sincerely michael

BillJones

The most immediate reason for the decline in Proof coins in the teens was the advent of World War I. Although mintages and overall production had been declining pretty much all regular Proof production ended in 1917.

After the War, Warren G. Harding was elected president, and he appointed Andrew Mellon to be secretary of the treasury. Mellon viewed the production of Proof coins as well as commemorative coins as a waste of governmental resources. He believed that the national mint should have only spent its time producing coins for circulation. He got his way with the Proof coinage for the most part, but Congress continued to authorize commemorative coins until Herbert Hoover became president in 1929.

Hoover agreed with Mellon that the production of Proof coins and commemorative pieces were a waste of public resources. As a result the production of all commemorative coins as well as Proof coins ceased during his administration. In general one could say that Andrew Mellon had the most negative attitudes of any treasury secretary toward coin collectors, and Herbert Hoover was the most anti-coin collector president who ever held the office.

Franklin Roosevelt was elected president in 1932. Roosevelt was a stamp collector and his first treasury secretary, William Wooden, was a coin collector and numismatic author. He was the “Wooden” end of the first major study on U.S. pattern coins “Adams and Wooden.” Roosevelt viewed commemorative coins and Proofs as one way to combat the depression blues, and in 1936 Proof coin production was resumed on a regular basis. It would be suspended again with the beginning of World War II

njcoincrank

Wannabeedealer,

The 1927 Buffalo nickels you mentioned were minted using the reverse die used on the 1936 Satin finish Buffalo nickel. Which came first, I don't know. Also the 1927's are very satin in appearance. Some of the 1936 satins are semi brilliant, amost type 2 in appearance. This would lead me to believe that the brilliant-satin finish 1936 were struck first.

njcoincrank

dan1ecu

Thanks, all, for the replies!

It's interesting that Hoover was anti-coin collecting, but considering that only a few thousand proofs would be made each year, I can see why it might be considered a waste. With millions made per year, I guess it's more profitable.

Dan

nwcs

Well, the mint produced proof sets at cost plus a very little amount. Not like now were they produce proof sets at cost + seignorage + profit + profiteering.