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 Replies: 19 / Views: 15,607 |
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Valued Member
United States
323 Posts |
why do many collectors avoid proof coins 1cent? I like the way they look better, but are they worth less in the long run? For example, the American Silver eagle costs almost double as a proof
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Valued Member
United States
436 Posts |
Quote:
coretj, I am talking about Canadian proof-like coins (from uncirculated sets), not actual proofs just to clear things up.
I think my previous comment covers it still. Coins that are NIFC (like UNC set coins) are easier to find in "perfect" condition than business strike coins. |
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Pillar of the Community
Canada
1051 Posts |
needgames - proofs and proof-likes are separate issues, slightly different than US proofs. In Canada, true proof sets have only been produced since 1981, and all have DCAM/ultra cameo devices on mirror fields. The coins are beautiful, no question, but they were mass produced, are nearly all in flawless shape, can be bought anywhere at any time, and basically are all worth less than the original issue price.
I keep a folded-open proof set on my desk to use as a paperweight and decoration.
More bluntly, they are visually stunning, a losing investment, and absolutely zero challenge to collect.
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Pillar of the Community
Canada
650 Posts |
Here's an analogy for you, my wife collected Beatles memorabilia, pencil sets , games, comics, pins etc. Back some years ago the reproductions showed up. No interest ,it's just not as interesting if it's not as intended or genuine. Another analogy would be the beannie baby craze ,when the interest hit the manufacturer cashed in and cranked out tons and the interest died ,they lost there intrinsic value.
Collector coins will unlikely ever have a value that will appreciate unless the demand outstrips the production [never]. That said, collect what you enjoy,but the hunt is is often more more gratifying then the kill.
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New Member
Canada
3 Posts |
But, what's the difference between proof-like and circulation strikes - other than bag-marks?... Couldn't someone just take a PL coin and bang it up a bit and pass it off as a circulation strike? I have a hard enough time telling them apart as it is...
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Pillar of the Community
United States
1523 Posts |
A proof-like coin IS a business strike coin. Just an excelent example of the business strike.
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New Member
Canada
3 Posts |
Yes, but if you get what I'm saying...
1. If the only difference between a proof-like coin and a business strike coin is that the proof-like coin hasn't been damaged yet.
2. If the proof-like coin is actually worth more, despite being undamaged.
then,
3. Couldn't you make more-valuable coins by taking the undamaged coins and damaging them (if that was the only difference)?...
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Pillar of the Community
United States
1523 Posts |
No. A proof coin is minted differently than a business strike and if you took a proof-like business strike and damaged it you no longer have a proof-like coin.You have a damaged business strike.
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Pillar of the Community
Canada
693 Posts |
A PL coin for the purpose of THIS thread is NOT the same as a circulation coin.
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Pillar of the Community
 United States
4870 Posts |
PL coins have a mirror like finish.
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Pillar of the Community
Canada
1733 Posts |
PL coins were struck on polished planchets with a fresh business strike die for the most part. The best coin to see this on (IMO) when you're first trying to figure it out is the 1964 Quebec Charlottetown dollar. Once you see an MS and PL side by side you can take it to other coins fairly easy. You can buy an MS 64 for 80 bucks in graded and a PL 65 raw in a set for about 18 bucks.
Edit- I'm currently in the process of getting the best 60's Heavy cameos in PL I can dig from large lots. My MS collection is long since done.
Edited by Ugly
04/05/2010 10:59 am
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Bedrock of the Community
United States
12437 Posts |
Quote:
A proof-like coin IS a business strike coin. Just an excellent example of the business strike.
True for US coins but it does not apply to our neighbors to the North. Canadian PL coins would be analogous to the current satin finish strikes in US Mint Sets- a strike in between business strikes and proofs. |
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Pillar of the Community
Canada
650 Posts |
We actually have 4 sets , the circulating, proof with frosted finish, specimen that has brushed effect with polished highlight on main features,and proof like on a polished planchet.
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Pillar of the Community
United States
3076 Posts |
I think UGLY put it best....the whole minting procedure is different for proof coins,,,,,,,a business strike as stated gets lots of bumps before leaving the mint, where as the mint sets/PL and proof sets are handled differently so as not to be banged up. there fore the business strikes are harder to find in high grades.....
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Pillar of the Community
Canada
838 Posts |
Yes, clearly, it's a rare occurrence to find a business strike which equals or exceeds a PL.
But my contention is that -- despite the wealth of expertise here -- many of you would be hard-pressed to identify a PL versus high-MS, say 2002-P Canadian cent.
I have no doubt that the finish used to be noticably different (c.f. Charlottetown dollar) but today the mint officially calls their sets "uncirculated sets". For another curveball, 50 cent coins are produced by the roll, but they aren't regular business issues either. (And quite often they look terrible.)
Me, I'll grab a modern PL and stick it in my Canadian business-strike collection if it seems to belong there. If I really wanted to pay big money for the MS-68 instead of the PL, I'd do it; but I have bigger fish to fry (as do most of us).
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Replies: 19 / Views: 15,607 |
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Posted 03/14/2010 8:49 pm
