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    Outstanding 1937 Proof Set
    All Coins PR66 or Finer

    1937 Five-Piece Proof Set NGC. The proof sets issued in the 1936 to 1942 era are considered by many numismatists to be in a class by themselves. The mintages of this group were extremely small by today's standards, increasing only slightly each year. Moreover, published mintage figures for 1936-1942 sets are listed for each denomination rather than the number of five-coin sets sold. For example, the 2010 Guide Book shows the 1937 proof mintages at 9,320 cents, 5,769 nickels, 5,756 dimes, 5,542 quarters, and 5,728 half dollars. These were sold singly over the counter and by mail at 15 cents over face value for each coin. A complete set cost $1.81 (including 23 cents for postage and insurance). The Guide Book lists the mintage of the 1937 proof set at 5,542 pieces-the number of quarters made, which is the lowest of all five denominations.
    The packaging of the 1936-42 proof sets left much to be desired. Arno Safran, in an article titled "Is the 1937 Proof Set Underrated?" published in the December 2007 Augusta Coin Club Monthly Newsletter, writes: "Each coin was inserted into a brittle cellophane envelope. The envelopes were then stapled at the top to the others; then placed into a small square cardboard box."
    Inadequate packaging resulted in problems over the years, such as rusted staples or the cellophane envelopes ripping, causing corrosion or damage to some coins. Also, some pieces, especially the larger denominations, which were issued during the Depression, were spent. These factors combined to leave the population of attractive, problem-free 1937 proof sets significantly diminished, and are considered by many greatly undervalued.

    1937 Cent PR67 ★ Red and Brown. Pale copper color fades into fiery yellow-orange, peach, blue, and green at the margins of this stunning Superb Gem. Remarkable preservation combines with stunning toning for flat-out fantastic eye appeal. A wonderful coin to start the set.

    1937 Nickel PR66. The final proof Buffalo nickel issue, since the denomination switched over to Jefferson nickel proofs in 1938 (there are no P-mint 1938 Buffalo nickels). Strongly reflective fields and boldly defined devices show faint, dappled pink and gold toning overall. An incredibly attractive Premium Gem.

    1937 Dime PR66. A gleaming specimen, virtually brilliant save for a faint halo of gold close to the margins. The devices are exactingly defined, revealing many nuances of the Weinman design. Outstanding preservation that does credit to the PR66 designation.

    1937 Quarter PR66. The light gold-gray toning that has settled over each side does not dim the intensity of the mirrors. Definition is strong in general, though overzealous polishing has lapped away parts of the ribbon at the back of Washington's head. On the reverse, the eagle is faintly frosted.

    1937 Half PR67. The set began with a Superb Gem, and it ends with a Superb Gem in this stunning PR67 half. With whispers of sky-blue and sea-green patina touching the obverse and faint canary-yellow glints gracing parts of the eagle's feathers, this example is not brilliant, but the reflectivity of the fields is potent nonetheless. Incredibly appealing.
    From The Boca Collection, Part One.

    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    View all of [The Boca Collection, Part I ]

    Auction Info

    Auction Dates
    January, 2010
    6th-10th Wednesday-Sunday
    Bids + Registered Phone Bidders: 15
    Lot Tracking Activity: N/A
    Page Views: 1,633

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