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 Replies: 17 / Views: 3,547 |
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Moderator
 United States
56855 Posts |
FYI: A proof found in change is called an impaired proof. John1  |
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Pillar of the Community
 United States
6514 Posts |
Nice find!
Check out my counterstamped Lincoln Cent collection: http://goccf.com/t/303507 |
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Bedrock of the Community
Australia
21788 Posts |
Yes, they DO stand out.
Very much an impaired proof, showing lots of obvious nick and scratches, and some wear.
Still, very much a keeper.
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Rest in Peace
United States
17900 Posts |
Any first is always memorable. If you mark date and location of find it will give you a "memory lane" in later years.
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Bedrock of the Community
United States
94367 Posts |
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Pillar of the Community
United States
1913 Posts |
It was almost certainly stolen or given to someone unworthy or perhaps ignorant of what they received. I've received a couple over the years. I honestly don't like getting them because I feel compelled to keep them, but they really have no place in my collection.
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Pillar of the Community
United States
2843 Posts |
Quote:
It was almost certainly stolen or given to someone unworthy or perhaps ignorant of what they received Hardly. If it had any sort of impairment before it circulated, it would be worth exactly 25 cents. I have released coins at face value before. Holding onto a quarter that is worth a quarter is pointless IMO. |
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Pillar of the Community
United States
1913 Posts |
That's why I said "almost" certainly.
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Rest in Peace
10197 Posts |
BS is right. Those who crack massive amounts of proof sets or even buy rolls of mint proofs to submit in quantity hoping to get a group of PF69's and even a 70 or two will settle for slabbed 68's but usually have requested that any lower not be dealt with. those returned coins 66 and below are totally worthless to sell raw and make much...into the bank bags they go.
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Bedrock of the Community
United States
11951 Posts |
I also agree with BigSilver ...
For myself, I have dumped hundreds of proof coins.
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Bedrock of the Community
Australia
21788 Posts |
Bret: Don't you like 'bright 'n shinies?  I have to admit: I am not keen on modern Mint product after about 1960, but that is just me. |
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Pillar of the Community
United States
1913 Posts |
Quote:
Those who crack massive amounts of proof sets or even buy rolls of mint proofs to submit in quantity hoping to get a group of PF69's and even a 70 or two will settle for slabbed 68's but usually have requested that any lower not be dealt with. those returned coins 66 and below are totally worthless to sell raw and make much...into the bank bags they go. Current proofs below PF67 are very rare. I can understand them wanting to keep them out of slabs because they're worth more in the OGP. Keeping them out of slabs so that they can be spent doesn't make a bit of sense. A real turd in a slab is still going to be worth more than face value. |
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Bedrock of the Community
United States
10038 Posts |
A few years ago, one of our own CCF members was breaking out a lot of proofs and cashing them in at the bank. He worked for a couple different coin shops who were trying to get rid of excess inventory of clad proof sets. Most dealers have boxes of these sets that they have trouble selling. In fact this member is the same one who I believe wrote that the coins shops he works for won't even offer face value for a clad proof set (obviously not talking of one with a known rare coin). Its just not worth the dealer's time. BTW GR8 was the member I am referring to.
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Moderator
United States
188660 Posts |
A little beat, but still a nice find!  |
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Pillar of the Community
United States
2271 Posts |
Quote:
BS is right. Those who crack massive amounts of proof sets or even buy rolls of mint proofs to submit in quantity hoping to get a group of PF69's and even a 70 or two will settle for slabbed 68's but usually have requested that any lower not be dealt with. those returned coins 66 and below are totally worthless to sell raw and make much...into the bank bags they go. An '83-S proof roll wholesales for $36. What happens is the proof sets get busted up in huge numbers (as many as a couple thousand at a time) and only about the best .2% get sent in for grading. On this date they'll need PR-70, I believe. Most of the coins or about 95% are put in rolls and sold to big buyers for 36 to $40 a roll depending on their current needs. Sometimes these rolls are "sold" even before the sets are destroyed. The other 4.8% or so have problems and usually just get put in the till or taken to the bank where they get mixed in with everything else. While only about 5% of '83 pr quarters are bad some coins will be far worse. BU 1976 type I Ikes, for instance will be about 50% bad even if you can find pristine sets and most sets now days are tarnished so they are nearly 100% bad. Some can be cleaned and salvaged. Modern are disappearing before our eyes and before people ever thought of collecting them. Time don't fly, it bounds and leaps.
Edited by cladking
04/18/2018 3:36 pm
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Posted 04/17/2018 06:34 am
