What makes a proof coin?
- Thread starter fishtaco
- Start date
H
House
Guest
Hello Google 
H
House
Guest
Proofs have been around 100+ years but yes, it is mainly for collectors due to the premium. I have a few proofs of my favorite coins but no real interest in them.
House said:
The reason I ask is because some of my bullion legal tender coins are flawless (magnified) with high detail so are they just as good as proofs in the scale of things?
Remember people the Internet is faceless and my inexperience in PMs doesn't mean I am a total dunderhead
fishtaco said:House said:
The reason I ask is because some of my bullion legal tender coins are flawless (magnified) with high detail so are they just as good as proofs in the scale of things?
Remember people the Internet is faceless and my inexperience in PMs doesn't mean I am a total dunderhead
Your not getting this at all
Proofs are struck on a different & much better quality blank
The finished product is a totally different beast
Pick a coin & google the proof versus the unc , that's the only way the spot the difference
spannermonkey said:fishtaco said:House said:
The reason I ask is because some of my bullion legal tender coins are flawless (magnified) with high detail so are they just as good as proofs in the scale of things?
Remember people the Internet is faceless and my inexperience in PMs doesn't mean I am a total dunderhead
Your not getting this at all
Proofs are struck on a different & much better quality blank
The finished product is a totally different beast
Pick a coin & google the proof versus the unc , that's the only way the spot the difference
OK UNC is un circulated? Proof coins are a modern day mint marketing strategy aimed at "Collectors" who demand uncirculated perfect coins so the mint have created a consumer base to a product above that they are selling as a norm?
The reason I ask is many coin sellers are representing their product as "Proof" when in reality its just an uncirculated coin from a mint roll they bought !
H
House
Guest
Yes UNC is uncirculated. No, the proof "collectors" demand proof coins, not Unc.
How do you know the coin is from a roll? Proofs will usually/always come with a presentation box and COA. Not having them would affect the resale value.
How do you know the coin is from a roll? Proofs will usually/always come with a presentation box and COA. Not having them would affect the resale value.
mmissinglink
Active Member
Eruaran, that proof Horse is ultra cameo...stunning!
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silver kook
Active Member
$100 for 1 oz silver in a cardboard box equals proof coin. Sell one year later on eBay for $50 
silver kook
Active Member
In first video the guy has taken the proof coins out of their capsules and is holding them with his bare hands. DO NOT do this with proof coins!!!!!!
I posted this up on The silver forum it should give you a good insight into proof coins.
http://thesilverforum.com/topic/445-coin-definitions-as-per-perth-mint-others/
http://thesilverforum.com/topic/445-coin-definitions-as-per-perth-mint-others/
iceblue
Well-Known Member
Depends on how far back in history you go, the proof coin and its definition have evolved over the years. What the guys have posted here is what people expect from a proof coin today, however the term 'Proof' goes back many hundreds of years.
In ye old days the king would ask his coin maker/s to make a new die/s for a coin, which was basically a piece of steel they would set on a gold/silver blank and blow with a hammer.
The first handful of new coins would go to the king for approval before continuing and releasing as circulated currency. These first handful of coins the king would keep and they were termed the proof coins, they had the best impression on the metal.
As the dies wore out the impression would not be as great until finally they would make another new die, or the king would commission a new coin design.
So what we see today has evolved from the coin makers of old.
In ye old days the king would ask his coin maker/s to make a new die/s for a coin, which was basically a piece of steel they would set on a gold/silver blank and blow with a hammer.
The first handful of new coins would go to the king for approval before continuing and releasing as circulated currency. These first handful of coins the king would keep and they were termed the proof coins, they had the best impression on the metal.
As the dies wore out the impression would not be as great until finally they would make another new die, or the king would commission a new coin design.
So what we see today has evolved from the coin makers of old.
mmissinglink
Active Member
fishtaco said:
Proof coins don't necessarily have to come with a COA, though most do. Some mints sell proof coins without COA's. Some genuine proof coins in the after market are sold without a COA because maybe the COA was lost or damaged.
Your best bet is to try to know about the coin before you buy.
Only a few of the prroof coins I have purchased in the after market seem to have dropped in value...the rest seem to have maintained value or gone up. Most of the proof coins I have purchased have come through the after market, not directly through the issuing mint....in general, though not in all cases, I have saved money that way.
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