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 Replies: 15 / Views: 1,611 |
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Pillar of the Community
United States
1476 Posts |
The question is, when is a Proof coin no longer a proof coin? I actually feel kind of sad that I just found one 1977-S and one 1979-S 'Proof' cents from circulation. They are in rough shape. I feel bad for the person who has either 'lost' them for some reason OR that they Felt that they were in a place in life where they had no other choice but to break them out and use them for daily needs.  My family has been in similar situations in the past which is why I say what I did. But back to the question, are the coins no longer considered proof because they are damaged and have been circulated? Or is it the mintage and year that make them 'proof's'. Although very used proofs. Thoughts?
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Pillar of the Community
United States
4897 Posts |
Quote:
Proof coin no longer a proof coin?
Once a Proof, always a Proof. It is a matter of manufacture NOT condition. |
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Bedrock of the Community
United States
12437 Posts |
A proof coin will always be a proof coin. "Proof" is a specific way to mint a coin(polished/specially prepared blanks and dies, struck two or more times at higher pressure) and not a reference to condition. A circulated proof would be known as an "impaired proof".
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Pillar of the Community
United States
3486 Posts |
A proof remains a proof no matter what damage may occur.
The phrase "impaired proof" is used to describe the coin along with
further pertinent details.
Proof is NOT a condition!
It is a manufacturing method.
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Moderator
 United States
188560 Posts |
Proof is not a condition, but PR-70 and PR-1 are.  So, as you can see, a poor proof is still a proof. |
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Pillar of the Community
Korea, Republic Of
1881 Posts |
A proof coin is forever a proof coin. Worn proof coins are still proof coins, just called "Impaired proof." It's a method of minting, not a condition.
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Moderator
Australia
16830 Posts |
Or, to put it another way, a proof ceases to be a proof only when it is completely destroyed as a coin. A proof coin that has been melted down, squashed on train tracks, smashed with a hammer until it is unrecognizable, ground flat and used as a blank planchet to produce another coin, or run through an elongated penny machine is no longer a proof.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
3486 Posts |
Both the RedBook and the Greysheet list the 'proof only' 1895 Philadelphia dollar with the circulating issues. Worn examples are listed down to Fine. But, in every case it is a PR-12 or PR-40 when assigning the 'grade.' An exception that I do not approve of, but I do not collect Morgans. I am old and set in my ways. |
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Pillar of the Community
 United States
1476 Posts |
Thank you all very much for that information.  I have them in acetone right now and will try to get some pictures up. Where do you think the Best place to post them would be? |
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Pillar of the Community
United States
3486 Posts |
Follow the standard guidelines for classic or modern coins. You won't go very far wrong, and if you do, a kind moderator will move to a more appropriate location. I am reminded of a folder of State Quarters my mother was putting together. Among the circulation issues was a proof which stood out like a sore thumb. Well meaning grandparents buy proof sets for grand kids who in turn break the sets and spend the coins. Sad. |
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Pillar of the Community
 Canada
9864 Posts |
When it's so degraded you can't prove it's a proof.
"Dipping" is not considered cleaning...
-from PCGS website
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Bedrock of the Community
United States
17884 Posts |
If it is a proof only issue, it is a proof as long as it can be identified. If it is NOT a proof only issue it is a proof until it is so worn that it can't be identified as having been a proof. For example a 1972-S nickel was only made in proof and if you found a 72-S nickel worn down to Good, it would still be a PF-4 because it HAD to start its life as a proof. but if you found a 1968-S nickel in the same grade it would most likely not be possible to know if it started life as a proof or a business strike, so it would be call G-4.
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Pillar of the Community
United States
1476 Posts |
Again, Thank you all for this information. |
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Bedrock of the Community
United States
20753 Posts |
No matter what it is, if it was at one time a proof, it still is.
However, just as with a car, when new it's worth xxxxx. Now after a major accident, it's in the junk yard and someone got about xx for it, if that. Although it is still that car until it is melted, makes little difference to the old owner. It is just useless. This is true of coins, stamps, cars, etc. Yes when new, one thing, after getting all messed up, not quite the same ever again. You can still say at one time this was a proof coin, but so what. I could say this pile of metal was once a Ferrari auto, but so what, now just a pile of metal.
Maybe not quite the same with a once Proof coin but it all depends on what it now looks like. Look at it like this. If you saw it in a coin store window, would you buy it?
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New Member
United States
37 Posts |
Good info. I have wondered this very thing.
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Bedrock of the Community
Australia
21788 Posts |
When it becomes an
'impaired proof'.
ie, when it has sustained any type of damage, however slight.
eg, minor hairlines.
I have seen the condition for an impaired proof in an auction catalogue described as
'nearly FDC'.
Still an impaired proof, although the description for condition may be perfectly correct.
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Replies: 15 / Views: 1,611 |
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Posted 04/10/2014 3:26 pm
