Coins - 1974 Proof Set

This year, the US Mint continued with the packaging style for the 1974 proof set that was introduced the previous year. The proof set contained six coins of $1.91 in face value: the cent (penny), the five cent (nickel), the ten cent (dime), the 25 cent (quarter), the 50 cent (half dollar) and the one dollar coins. The US Mint sold the 1974 proof sets initially for $7.00 each.

1974 Proof Set Package

The 1974 annual Proof Set was packaged in a black outer box. The silver script at the top identifies the set as "United States Proof Set • 1974" on the flap of the black box. The box dimensions are roughly 3.5 inches by 5.5 inches by 3/8 inch.

The outer edges and the back of the 1974 proof set box do not include any additional letters or identifying marks.

The black flap slides from under the written section, and the lens with its plastic cover and display easel that holds the six coins enters the box from the bottom.

Click on the picture at left to access the purchase information for the 1974 Proof set

1974 Proof Set Contents and Proof Coins

The black plastic cover with the centered silver heraldic eagle rotates on hinges to form an upright display for the proof coins. Some people removed the black plastic, and sets are found today with just the lens and coins, not the black plastic flip cover.

During 1974, the Mint changed the Lincoln portrait and the Washington portrait dies. Visually, however, the changes were so slight as to be difficult to discern. The changes are not recognized as varieties within the proof set population.

Given their varying sizes, the coins are evenly spaced within the proof set lens. Each coin is held in its own circular capsule which is held firmly in the clear plastic with the red contrasting interior. At the bottom "UNITED STATES PROOF SET" in raised silver letters shows against the black plastic base of the set. In the upper left corner, raised letters in the clear plastic state "PACKAGED BY US MINT."

Turning the set over, the reverse of the coins can easily be seen in their clear encasement with the nickel, penny and dime across the top and the half, dollar and quarter across the bottom.

Click on the picture at left to access the purchase information for the 1974 Proof set

1974 Proof Set Coin Specifications

The specifications for the coins in the 1974 annual Proof Set:

In later sets, the US Mint advises, "To preserve the beauty of your Proof Set, it should be stored in a cool, dry place."

1974 Proof Set Year Population and Cost of Living

The world population in 1974 was 4,017,813,804. This represents 58.6% of the world's population in 2010.

$100 in 1974 equals $442.30 in 2010 dollars using the Bureau of Labor Statistics' Inflation Calculator.

New houses in 1974 cost $38,900 which would be $172,055 today.

The average income was $8031 per year ($35,520 in today's dollars).

Gas averaged $0.532 per gallon ($2.35 in today's money).

The average new car was $4,440 ($19,638).

Click on the picture at left to access the purchase information for the 1974 Proof set