Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Why Are Proofs Generally Less Valued In Resale Markets?

First page | Last 15 Replies
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 26 / Views: 1,347Next Topic
Page: of 2
Bedrock of the Community
United States
16527 Posts
 Posted 03/06/2020  12:06 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
First you are not considering survival rates. Since the early 60's the survival rate of proof coins (with the possible exception of the silver proofs of 60 to 64) is probably around 90%. So most of the proofs made are still around. The survival rate of business strikes in MS probably tops out at 5% or less for a common year. Business strikes were meant to circulate and did.

Second it is important to consider how many collectors are there? The Mint says 150 million but that is absurd. They were counting everyone who put away a few State Quarters as being a collector. Well I can believe one out of every two people has a few State Quarters put away, but I wouldn't say one out of every two people collect coins. I think a much closer figure would be 2 million, and that would be at all levels from the guy with just a casual interest aoo they way to the collctor level putting together something like the Pogue collection.

If you accept that 2 million estimate, then guess what, proof coin mintages really aren't that low. Especially when you consider that for any given proof issue, with a 90% survival rate, not all of those 2 million are wanting it. This basically means that there are more of these proof coins floating around than there are collectors wanting them. (And many of those that do are perfectly happy with a raw one, which reduces demand for the slabbed ones even more) Well what happens when supply exceeds demand? Prices scrape bottom.

But for the MS coins since the survival rate is so much lower,and the quality of the MS coins that survive is usually not that great, supply many not exceed demand. So in that case the value of the MS coins can easily exceed that of the proofs.
Gary Schmidt
Pillar of the Community
Learn More...
United States
3382 Posts
 Posted 03/06/2020  07:01 am  Show Profile   Bookmark this reply Add tdziemia to your friends list Get a Link to this Reply
Two super, thoughtful posts by earle and conder on this topic.
Bedrock of the Community
United States
19315 Posts
 Posted 03/06/2020  09:23 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Only collectors want them. And just not enough collectors of Proof coins. Usually only good for completing an Album.
just carl
Valued Member
United States
212 Posts
 Posted 03/08/2020  05:28 am  Show Profile   Check Kawliga's eBay Listings Bookmark this reply Add Kawliga to your friends list Get a Link to this Reply
Earle and Conder, thank you so much for your very thoughtful answers, they make total sense. It's not every day you get a fully satisfying explanation for something, and so I'm really glad I finally got around to asking this!
Valued Member
United States
377 Posts
 Posted 03/08/2020  11:19 am  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
Very interesting topic. I reread carefully to understand, thanks for all the info.
Valued Member
Canada
193 Posts
 Posted 03/31/2020  06:00 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
They have no soul! Even the mint state coins seem sterile to me. No one's used them for anything, they haven't survived. The AUs hold the most interest to me: they generally look nice but that little bit of wear means that they've been in a few pockets and bought a few things. They've been part of the world.
Pillar of the Community
Canada
3433 Posts
 Posted 03/31/2020  06:57 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
This is a very interesting question as it touches on the psychological aspects of collecting-why do collectors like something and not like something else. Econ 101, where price is a function of supply vs. demand, cannot explain the demand, because coins are not a necessity. You can calculate the supply but the demand is pure human psychology, quite resistant to rational explanation. Aesthetics and beauty are not rational-but so what?
Valued Member
Canada
193 Posts
 Posted 03/31/2020  08:45 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
Well, scarcity plays a part in all this - the proofs are not generally all that scarce.
Valued Member
Canada
193 Posts
 Posted 03/31/2020  08:49 am  Show Profile   Bookmark this reply Add Silver101 to your friends list Get a Link to this Reply
But yes, old coins - the whole thing is a little irrational....
Pillar of the Community
Canada
3433 Posts
 Posted 03/31/2020  11:50 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Yes, @Silver81, I did not want to say this out loud, but coin collecting itself is not particularly rational, assuming that I or anyone care. We can't be stopped. Logic does not apply. Mr. Spock and the other Vulcans could not become coin collectors.
Pillar of the Community
United States
1509 Posts
 Posted 04/01/2020  9:34 pm  Show Profile   Bookmark this reply Add realeswatcher to your friends list Get a Link to this Reply
A lot of collectors see modern proofs as what they are - modern contrived schlock made to look and perpetually remain (as Conder101 rightly noted) boringly perfect. It's one step off what baseball cards turned into... there's ZERO character.

I hear people like those proofs they did backwards by accident, though.


Quote:
Regular issue coins is what it was all about.

So were a lot of collectors turning down those cheap and readily available Barber and Walker proofs back then?
Page: of 2 Previous TopicReplies: 26 / Views: 1,347Next Topic  
 
To participate in the forum you must log in or register.

Coin Community Member eBay Sales

Certified Coins   Certified VAMs   Certified Errors  




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2020 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2020 Coin Community Forums
It took 0.52 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05