What Is SMS in Coin Collecting?
In coin collecting, SMS stands for Special Mint Set. These coins were produced in limited quantities for just a few years then never again. SMS were created to replace mint sets and proof sets during a time of coins shortages in the United States. They contain unique characteristics and are prized by coin collectors.
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History
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Special Mint Sets were made by the United States Mint in small quantities in 1964, then for public release in 1965, 1966 and 1967. Between 1965 and 1967, the U.S. Mint did not make mint sets or proof sets. The SMS were intended to replace them.
SMS Contents
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Each SMS contains five coins. They are a cent, nickel, dime, quarter and half-dollar. The cent is made primarily of copper. The nickel, dime and quarter are made of a copper-nickel alloy. The half-dollar is 40 percent silver with the rest being a copper-nickel alloy.
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Mint Marks
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Coins in SMS do not have mint marks of any kind. Mint marks are a small letter near the date indicating the mint where the coin was produced. A "D" represents Denver, a "P" represents Philadelphia and an "S" represents San Francisco. At the time it was believed that coin collector hoarding of particular mint marks was contributing to the coin shortage the United States was experiencing. Removing the mint mark was a way to combat this.
Quality
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Coins in SMS are unique. They were stamped on unpolished planchets with overpolished dies. The coins in SMS are "prooflike" in appearance, but they are not proofs. They were mixed with other coins, so they commonly contain contact marks. They are of higher quality than circulated coins but not as detailed as true proof coins.
Packaging
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The U.S. Mint released SMS in special packaging. In 1965 it was in a soft plastic pliofilm sleeve with a blue and silver plastic medal containing the words "United States Special Mint Set." In 1966 it was in a hard blue plastic container marked "United States Special Mint Sets." In 1967 it also had a dark blue cardboard sleeve.
Value
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Special Mint Sets originally sold for $4 each. A SMS of good quality in its original packaging is worth about $10 today. A SMS of superior quality and condition can sell for up to $100.
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References
- Photo Credit coins image by Goran Bogicevic from Fotolia.com
