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Coins - 1962 Mint Set


The 1962 mint set contained five coins from the Denver mint and five from the Philadelphia mint. Six of the ten coins in the 1962 mint set - the two dimes, two quarters and two half dollars - consisted of 90% silver.

Two pliofilm sleeves edged in blue and red held the ten uncirculated coins, five from the Philadelphia mint and five from the Denver mint.

A white envelope held the two sleeves of uncirculated coins for the 1962 mint set. The upper left corner on the front of the envelope showed "Treasury Department" and the street address of the United States Assay Office in San Francisco (the US Mint location). The lower left of the envelope includes the year and an abbreviation for uncirculated coins, "1962 — U. C."

1962 Mint Set Package

1962 Mint Set package


Two pieces of cardstock protect the two pliofilm sleeves holding the ten uncirculated coins in the envelope. Quite a number of the 1962 Mint Sets traveled through the postal service in these envelopes.

1962 Mint Set opened showing contents and uncirculated coins 

1962 Mint Set Uncirculated Coins

The red edged pliofilm contains the five coins minted in Denver along with a gray token printed with red ink identifying the mint. The second pliofilm with its dark blue edges holds the five coins minted in Philadelphia with its identifying gray token printed in blue.

1962 Mint Set obverse images of uncirculated coins

The 1962 mint set's pliofilm sleeves hold the uncirculated coins in their individual compartments. The uncirculated coins rotate freely within their compartments.

The coins' reverse images can be readily seen through the clear pliofilm. The gray tokens for each mint have the same printing on the front and the back.

1962 Mint Set reverse images of uncirculated coins

The red printed token in the 1962 mint set identifies that sleeve as "Uncirculated Coins of Denver Mint Distributed by U.S. Mint."

1962 Mint Set red and gray Denver Mint token

Similarly, the blue printed token in the dark blue edged pliofilm sleeve shows "Uncirculated Coins of Philadelphia Mint Distributed by U.S. Mint."

1962 Mint Set blue and gray Philadelphia Mint token

1962 Mint Set Coins and Metals

The 1962 Mint Set's uncirculated coins contained the following metals:

Penny: 95% copper; 5% zinc
Nickel: 75% copper; 25% nickel
Dime: 90% silver; 10% copper (0.07234 troy ounce of pure silver)
Quarter: 90% silver; 10% copper (0.18084 troy ounce of pure silver)
Half Dollar: 90% silver; 10% silver (0.36169 troy ounce of pure silver)

The 1962 Mint Set contains 1.22974 troy ounces of silver with the three 90% silver coins in each pliofilm sleeve equal to 0.61487 troy ounce of pure silver.

Click on Mint Set Population to view the contents of the sets through the years. Take a look at the overall Mint Set page to see how the values compare among the sets.

1962 Mint Set Year - News about Coins and the US Mint

(note: the below links to newspapers open in a new window)

Change Shortage 
The Modesto Bee - May 20, 1962
The US Mint and its branches frequently cannot supply enough coins to meet demand. The biggest culprit is the vending machine industry with over 4,000,000 machines in operation. This year, the US Mint will produce twice the number of coins as they did in 1959.

Old US Penny Brings $10,500 
Spokane Daily Chronicle - June 29, 1962
A Long Island rare coin dealer paid $10,500 for a 1799 US copper penny. The coin, described as "near mint perfection," brought a price equalling the previous high price for a coin of that denomination.

US Pecuniary Peculiarities Provide Problems For Mint
Toledo Blade - July 23, 1962
Baltimore and Louisville go nuts over nickels. Montana won't use folding money. Washington, DC likes quarters. And, New York uses all coins except half dollars. Per the US Mint, the coin peculiarities belong to an unsolved and long-standing mystery in the Treasury Department.

Coin Of The Realm 
Times Daily - August 15, 1962
People frequently complain of not being able to make money fast enough. But, the US Mint also says the same thing. After the 1961 Christmas shopping, the US Mint had no more coins for distribution. Now, banks and retailers are running out of small change. People have difficulty finding change for vending machines and parking meters.

Mint Steps Up Coin Operation 
The Palm Beach Post - November 23, 1962
The Denver mint produces more than 70 percent of the nation's circulating coins. Recently, their production rates were increased to help offset the reported pre-Christmas coin shortages.

US Mint Ups Production To End Shortage of Coins 
Schenectady Gazette - November 27, 1962
Eva B. Adams, the mint director, announced that production at both the Denver and Philadelphia mints has increased to address the shortage. She stated that a delay in Congress approving additional funds for the US Mint prevented them from increasing their production earlier.

Gifted craftsmen, they devised methods of altering currency to make it appear to be rare and valuable to collectors 
Ottawa Citizen - December 1, 1962
Donald Stainsby writes the story of the Pankow brothers, their counterfeit operation of Canadian and American rare coins, and their capture by the Royal Canadian Mounted Police.

These Coins Are Rare No More 
St. Petersburg Times - December 2, 1962
Last week certain silver dollars brought $2000 for their rarity. This week, those same dollars are worth less than $50. Their rarity disappeared when the Treasury Department released a flood of the coins first minted in the early 1900s. The Treasury released an estimated 2.5 million of the silver dollar coins.

Release of Dollar Sends Prices Down 
Toledo Blade - December 30, 1962
Recent big coin news occurred when the Federal Reserve released three of the previously scarce silver dollars minted in New Orleans. The dates included 1898-O, 1903-O and 1904-O. Collectors quickly absorbed dollars such that their price is beginning to climb again.

The 1962 Mint Set Year included news of circulating coin shortages and rare silver dollars becoming plentiful after the Treasury Department released a 2.5-million coin find. 

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