Numismatic News

Chaos of the 1965 Proof Set

Coinage shortage in the 1960s not only impacted the United States but also its neighbor, Canada. As related in a prior column, the February 1965 issue of Coins magazine detailed efforts by the U.S. to alleviate the shortage through such measures as phasing out Silver Certificates, which were redeemable in silver; a date freeze on coinage to stop supposed hoarding; and the suspension of proof set coinage. Coins noted that: “In a series of moves to help stem the shortage, one step was the discontinuance, at least temporarily, of proof sets. The proof coin equipment will be converted to high-speed production of regular coins after present commitments are met for proof set coin orders which have been accepted.”

Later in the same issue, Coins turned its attention to Canada, reporting: “Canada is facing the same coin shortage as the United States is and for the same reasons: growing population, vending machines and coin

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