1970 Proof Set

The 1970 U.S. Proof Set is a notable release in the history of U.S. coinage, with special attention due to the inclusion of the 1970-S Lincoln Cent, which was struck in proof only and not in regular circulation. This set consists of all the circulating coins of the year, with each coin struck in proof quality, making it highly desirable among collectors. Proof sets, particularly those from key years like 1970, are valued not only for their numismatic significance but also for their pristine finishes and historical importance. The 1970 Proof Set is one of the last of its kind to include certain key elements that defined U.S. coinage at the time, including the circulation issues of the half dollar before the silver content was reduced in the following years.

The U.S. Mint began producing proof sets in 1936, offering collectors an opportunity to own coins with a much higher quality than the regular circulation strikes. By the time the 1970 Proof Set was released, proof coins were known for their mirror-like finishes and sharply detailed designs. The set was packaged in a clear plastic case with a blue outer box, making it both a functional collector's item and an attractive display piece. The set features all the denominations of the year: the Lincoln Cent, Jefferson Nickel, Roosevelt Dime, Washington Quarter, Kennedy Half Dollar, and the Eisenhower Dollar, each struck in 90% silver, except for the copper-nickel clad coins of the penny, nickel, and dime.

The 1970 Proof Set includes one of the most highly anticipated coins of the time: the 1970-S Lincoln Cent. This particular cent was only available in proof sets, as no business strike was issued for circulation. The 1970-S proof cent is especially valuable because of its limited mintage, making it a key coin for Lincoln Cent collectors. The coin features a portrait of Abraham Lincoln on the obverse, designed by Victor David Brenner, and the reverse features the familiar wheat ears. The deep cameo contrast and the sharp strike of the proof coin make it an excellent example of modern coinage, and its limited mintage contributes significantly to its collectibility and value in the market.

The remaining coins in the 1970 Proof Set reflect the standard designs of U.S. coinage at the time. The Jefferson Nickel, for example, features a portrait of Thomas Jefferson by Felix Schlag, which had been used since 1938. The reverse of the nickel depicts Monticello, Jefferson’s Virginia estate. The Roosevelt Dime, designed by John R. Sinnock, features a portrait of President Franklin D. Roosevelt, and the reverse depicts a torch, olive branch, and oak branch, symbolizing liberty, peace, and strength, respectively. These iconic designs have been cherished by collectors for their simplicity and enduring representation of American history.

The Washington Quarter and the Kennedy Half Dollar also follow established designs, with the quarter featuring a portrait of George Washington by John Flanagan and the half dollar featuring the likeness of President John F. Kennedy, designed by Gilroy Roberts. The reverse of the quarter depicts an eagle, which was designed by the U.S. Mint's Chief Engraver, John R. Sinnock. The half dollar reverse, designed by Frank Gasparro, features the presidential seal, a fitting tribute to President Kennedy’s legacy. Both coins are struck in 90% silver and are highly prized by collectors for their exceptional finishes in proof quality.

The 1970 Proof Set includes the Eisenhower Dollar, which was introduced in 1971 as the first dollar coin issued for circulation in the United States since the Peace Dollar of 1935. The reverse of the Eisenhower Dollar features an eagle landing on the moon, a tribute to the Apollo 11 moon landing, while the obverse shows a portrait of President Dwight D. Eisenhower, designed by Chief Engraver Frank Gasparro. Although this coin was produced in 1971 for circulation, the 1970 Proof Set contains a proof version that offers an exceptional example of this large coin’s design.

The coin’s design and production methods in the 1970 Proof Set exemplify the precision and craftsmanship that the U.S. Mint is known for. The proof coins are struck multiple times using specially polished dies, which results in the mirror-like finish and deep relief that distinguishes proof coins from regular circulation coins. The 1970 Proof Set is especially notable for the quality of the strikes, with each coin representing the pinnacle of U.S. coinage at the time. The finish and clarity of each coin in the set showcase the artistry and dedication of the Mint’s craftsmen.

The 1970 Proof Set also marks a turning point in U.S. coinage history. The 1970s saw significant changes in the production of U.S. coins, especially with the rise of the clad coinage in the years following. While the proof sets still included silver coins, the years following 1970 would see a shift away from silver in the dimes, quarters, and half dollars, beginning in 1971. As such, the 1970 Proof Set represents a transitional moment in the history of U.S. coinage, bridging the end of the era of 90% silver coins and the introduction of clad coins into circulation. The set’s mix of silver and clad coins makes it a unique and important part of U.S. coinage history.

The mintage of the 1970 Proof Set was 2,103,292, and these sets were sold to the public for $5.00 at the time, which reflects the price of the set relative to the silver content and production costs. Today, the set is valued more highly by collectors due to the rarity of the 1970-S proof Lincoln Cent, the silver content of the other coins, and the overall condition of the set. Many of the coins are available in high grades, with the quality of the strikes and the preservation of the finish making them particularly desirable to collectors.

The 1970 Proof Set remains an iconic piece of American numismatics, especially with the unique qualities of the 1970-S Lincoln Cent. Whether as a representation of U.S. coinage history, a reflection of the nation’s minting practices, or as a collector’s item, the set holds a special place in the hearts of collectors. The high quality of the coins, the limited mintage of the 1970-S cent, and the overall appeal of proof coins all combine to make this set a coveted piece of American numismatic history. The 1970 Proof Set continues to be an important part of collections today, with its significance only growing as the years pass.

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• Year: 1970
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