Do proof copy coins have value?

Answer 1

A proof coin (the word "mint" is usually not used in conjunction with the term) is a coin specially made for clarity of design. A proof coin started out being much like a proof print of a photograph; it was used to prove that the design elements were situated correctly, and looked good enough to be produced. Today most governments' mints produce sets of proof coins for collectors. A US proof coin is made from dies that are sandblasted (albeit usually with glass beads for the "sand") and then polished. The dies are polished every 5-15 coins, and replaced frequently before the die is worn. Each coin is hand-fed into the press using tongs or gloved hands; the coin is then struck at least twice. The resulting coin has a mirror-finish field or background, with frosted devices (or raised areas). Proof dies can, in some cases, be recycled for use with standard-issue coins, although some proof coins have slightly different designs from standard-issue coins. (For example, the 1-cent coin has an almost-joined "AM" in "AMERICA" for a circulation coin, but a different spacing for the proof coin.) If your coin is dated 1968 or later, proof coins are relatively easy to identify because they all have an "S" mint mark on them. The only possible confusion would be if the coin is a cent from 1968-74 or a nickel from 1968-70, when San Francisco struck those denominations for circulation as well as for inclusion in proof sets. All other S mint coins from 1968 onward are proofs only.

Earlier proofs were struck at Philadelphia so they're more difficult to identify unless they're in their original packaging.

Proof coins sometimes find their way into circulation when a set is broken open. That can happen if a set is stolen and the thief doesn't know what he has; sometimes small children will open Mommy's or Daddy's proof sets to get at the "shiny coins". Unfortunately if a proof coin has been spent, its value is significantly reduced.

Answer 2

A proof is a coin that is specially struck for sale for collectors. Usually there are multiple strikes made with special dies. Proof coins usually have really shiny fields (the blank part of the coin) and a "frosted" look to the raised part of the coin.

Answer 3

There is no such term as "proof of mint". Did you mean proof OR mint? If so:

A proof coin is struck from specially prepared dies on high-pressure presses to impart a mirrorlike surface and extra image detail to the coin. Proof coins are not intended to circulate; they're sold as collectibles.

A mint-state coin is a regular circulation strike of a coin just as it came from the mint, without having been spent and damaged or tarnished in circulation. The U.S. also sells mint-state coins that are selected from regular production runs. They of course cost a lot less than proofs.

See www.usmint.gov for more information.

Answer 4

Proof coins are specially struck for collectors. They have a special, mirror-like finish because they're struck at low speeds from highly polished dies, unlike regular coins that are struck at high speed by ordinary dies that give a satin finish. Because of the slow striking speed, proof coins are also more detailed and sharply defined than ordinary coins.

The Mint seals proof coins in plastic holders and sells them on their website. Proof coins cost more than normal coins because they're collectibles. They're not intended to be spent.

Answer 5

Proof coins start life as a specially prepared and polished "blank" or "planchet". The blanks are struck with specially prepared and highly polished dies and possibly hand finished giving the coin surface a mirror like appearance.

Proof coins may be made from the same metal as general circulation coins, or they may be made from a precious metal.

The Proof coins are packaged to prevent damage or to prevent finger prints ruining the finish.

The packaging will usually indicate what is inside the case like the details of the coin and what it is made from and other information about the coin.

Answer 6

Very good question! Generally one would get the underlying value if one sells the coins to a dealer, unless the proof coin is considered rare, like low mintages, or mintage errors. And even this field is fraught with danger. At one stage in South Africa, Proof Krugerrands were graded and encapsulated, selling for far more than their Uncirculated counterparts in the 1970's to the early 1990's. The market for such Proof Krugerrands had since collapsed and dealers will now only give you the gold value or melt price of the coin. The Mints around the world have cottoned onto the idea collectors like the look of proofs and often charge a hefty premium than if the coin was an Uncirculated one. A scam I reckon.

I would prefer to buy Uncirculated than Proof coins. They still look good, are far cheaper and one pays closer to bullion value. After all, that is what the coins really are; pieces of metal. If you manage to make some money in the long term, that is a bonus. I hope that helps you.