Greysheet Catalog Details (GSID: 10904)

The 1942 Proof set has long been a favorite for several reasons, the most obvious being that it includes six coins instead of five.

As it was not known at the beginning of 1942 that a change in the nickel’s composition would occur, the Mint went about its normal offering of Proof coins. It is likely that initial sales were only moderately higher than in 1941, but the introduction of a second nickel in the fall evidently prompted at least some collectors to order complete duplicate sets. The quantities sold of all five denominations are higher than would be expected, though the nickel clearly became that year’s favorite.

The change in alloy for the five­-­cent piece was authorized by law on October 8, 1942. The regular composition of 75% copper and 25% nickel was replaced with one of 56% copper, 35% silver, and 9% manganese. While the stated purpose was to save nickel (for the manufacture of armor plating and other war­-­related products), this change offered the benefit of reducing the coin’s copper content as well. Copper’s importance to the war effort was further indicated by its elimination from the cent in 1943, as well (sadly, no Proofs were coined in 1943 to provide collectors with an example of that ill­-­fated coin).

Both editions of the five­-­cent piece enjoyed very large mintages for the time period, and neither is rare today except in the highest grades. Collectors, who often include them as stand­-­alone items within their type sets, favor the wartime “nickels.”

Another feature that makes the 1942 Proof set a very desirable one is that its quality is generally the highest of the 1936­ to ­1942 period. The Mint became increasingly skilled at polishing the dies, and this was nearly perfected by 1942. While some Proofs are found that were produced from severely polished dies, most coins of this date are more sharply struck and richly detailed than earlier pieces.

One curiosity is that the Proof cent of this year is quite challenging to locate in fully red condition. No definitive explanation for this scarcity is known. Tin was eliminated from the cent’s alloy midway through the year, because the war had cut off America’s supply of this metal, but that should not have had any visible effect.

On the positive side, cameo Proofs are somewhat more available for this date than for all others of 1936­ to ­1941, though they still form a very small minority of the surviving Proofs.

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