The 1967 Canadian Proof Set - Once a Big Deal, Now Forgotten

BillJones

Many collectors like to set aside coins that were minted in a year that was important in their lives. Most often it might be birth year set or a high school or college graduation. I graduated from high school in 1967. The U.S. coin set that was issued that was a Special Mint Set, which was not very special and not very exciting.

One of the big items that year was the 1967 Canadian Proof set which marked the 100th anniversary of Canadian de facto independence from Great Britain. The cent through dollar featured native Canadian animals on the reverse, but highlight of the set was Proof $20 gold coin.

Many U.S. collectors had a strong interest in this set with the $20 gold coin, but for them it was "forbidden fruit." The Gold Surrender Order, which had been in effect since 1933, expressly denied American citizens the right to own these coins. The only option was to bring the coins in from Canada illegally. The Canadian mint did issue a set with a silver medal in place of the gold piece, but that hardly seemed worthwhile.

One of the numismatic magazines, I think it was "Coins" sent a writer and photographer to Canada to write and article and grab a photo of the coin. The photographer took a couple of regular pictures of the piece a few Polaroid shots. In the end "Coins" ended up putting one of the Polaroid shots in a colorized form on the front of the magazine because that regular shots did not provide a true reproduction of the coin.

In December 1974 everything changed when President Gerald Ford ended the ban on American gold ownership. A number of the 1967 Canadian sets were brought into The United States, and they were popular for while, but then interest died. Today I have heard stories that a number of these sets have been sold for scrap, and today one can find them at coin shows for around melt.

ajaan

I have seen some very nicely toned silver coins out of these sets.

syl

I'd hang on to what you have. Many were melted for the silver, not the gold. You can find them at coin shows up here, but they are far from scrap. I 10 years, you'll have a set that no one has.

BillJones

The price I paid was melt for the gold coin; the rest came for free. One of them has a scratch and is not very nice, but that did not matter in the context of the deal. I think that the gold piece is a beautiful coin. The only reason why I sold the first set I owned was that the price offered in the 1970s was a number I could not refuse.

mdwoods

Lovely set, I love the centennial reverse designs. That may be the first gold coin from 67 I've seen. Very nice.

SYRACUSIAN

All the coins look familiar, especially the silver ones that I've often seen with amazing toning, here in this forum mainly, but I had no idea about this story. Thanks for posting it along with these great images.

1960NYGiants

The 1967 gold set was the 1st gold coin I ever bought (early eighties).

I now have 3 sets with the gold (2 sets in the original cases and boxes). In the US, at least around here in CT, they are offered at a slight premium to bullion.

I also have 4 or 5 sets with the sterling silver medal. All deeply toned. Try to find one that the medal has not toned.

mnemtsas2

I have a number of the silver sets that I've picked up for bullion down here including one beautifully toned set direct from the felt lined box. I've never seen a set complete with the gold coin. Alas I fear the gold coin is tossed into the melt bucket in Australia as it has little perceived numismatic value.

YQQ

ok, it is a beautiful set. However, even in extreme high grades like Ms 65 etc, it is not worth what other coins in that grade are worth.
simply, there are just way too many in way to many combinations.
I sold one a couple of years ago( year of the Rabbit) to a collector in Hong Kong... he did not buy it for the Gold piece. He bought it because the pictures posted on the bay showed perfect coins, although toned.
I eventually asked him why he spent $ 1000 +. his answer surprised me. Because it is the year of the Rabbit and your coin is the best flawless Rabbit I have seen on Ebay.
so fellows, it is not always the gold, or the silver.... sometimes there are other reasons..
It is too bad that many of these Gold coins have been, and still are melted simply for the Gold. But, There are just too many to eventually be worth anything else.
Sorry Syl, I do strongly disagree with you on this one, as 10 years will not make any difference to this set of coins. there are just tooooooo many. A side story:
a few months ago I had an opportunity to buy a set with the Gold piece. I offered the seller (a lady) CAN $ 750. (a extremely fair price) she said: are you for real? This is worth several 1000nds. My parents left it to me with a note never to sell it for less than $ 2000. She also said ( obviously a lie( she turned down close to 1900 from two dealers, one of them being JM in Vancouver. I said: If Jo offered you that kind of money, you should have taken it.
My believe is that the 1967 centennial issue was the first test by the RCM to see how collectors would react to fancy coin issues. Hence, the onset of the RCM motto" lets take everyone for a $$$Coin$$$ride" was born.
And we all know what happened after that... and is still happening.... unfortunately whit great success.....Sorry guys, as nice as the whole set is, it is just simply worth the metal....

ProofArtworkonCircs

According to Mr. Pittman, the die used for striking the gold coin was the hand engraved original..

LochNESS

We always want that which we are forbidden to have.

Figure out what that is today, and sell it, and you'll be a wealthy man.

bidask

I bought mine for scrap too.

Really a beautiful set.

coinkat

Nice set... it would be interesting to see how many of the sets containing the $20 gold have survived. I think most of us would be alittle surprised.

LochNESS

I'm betting more $20 pieces have survived on their own compared to the number of complete intact sets. So many sets are broken up by dealers every year, for private collection spurrier sets, or to sell piece meal.

coinkat

keep in mind, there are three different sets for 1967- the one with the $20.00 gold, the silver medal and then the regular set

STLNATS

Sad to admit, but I remember when this set came out. The prohibition on the gold coin seemed unfair at the time, altho really immaterial to me since I was still in elementary school.

I've always thought, and still think, that this is one of the prettiest set of coins that actually circulated in the 20th century. Simple but strikingly effective designs and the toning picked up from the box just adds to the attraction for me. I've owned a couple of the cent thru dollar sets "forever" but never got around to buying the "big" one altho having many opportunities to pick up a set near spot for the $20; there was always something else.

Thanks for sharing the pretty pix Bill!