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 Replies: 23 / Views: 3,009 |
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Pillar of the Community
United States
2200 Posts |
I was wondering how a proof coin might end up in circulation.
Possible ways: 1) someone breaks open a proof set (or single coins) and spends the money because they don't know any better; 2) a collector puts the coins into circulation just for fun.
How else would proofs get there?
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Moderator
 United States
54280 Posts |
3) Proof sets get stolen, the thief opens the holders and spends them on purpose (perhaps this is a variation of #1).
Edited by nss-52
01/06/2018 2:26 pm
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Moderator
United States
34396 Posts |
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
United States
20753 Posts |
From people I actually knew some time ago, proof sets were stolen and all of the coins were spent as just money. Criminals are not Numismatist so anything they get in the way of money is just money. Also, many families have kids that take those sets and spend them on what they think is important. I would think the biggest reason for proofs getting in change is mostly due to crime.
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Pillar of the Community
 United States
4588 Posts |
I have a dealer/friend who went through 1000s of proof sets from the 50s and 60s and bought those which had 2+ high quality coins. He then broke them up, sent the good ones off to be graded and sold those at shows. He has a great eye and made money doing it for several years.
But what do you do with the left overs?
The nicer halves, quarters and dimes (and some of the cents/nickels) can be put in 2x2s and sold to dealers who have books of them for sale at the same shows.
The silver dogs can be sold as 90%...
The cents and nickels? He never said, but there's no market for them, so I'm betting that's how he bought his sodas from the machine at the show...
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
649 Posts |
I spend them all of the time. I like to buy lots and break them up for my collection or resale. If there are President dollars in the lots they usually get spent because I can't get face after fees on ebay. I also just spent a few impaired Ikes I recently got in an album. |
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Bedrock of the Community
United States
94367 Posts |
Kids with sticky fingers.
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Bedrock of the Community
Australia
21786 Posts |
I have taken an impaired proof pad printed colorized coin out of circulation.
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Rest in Peace
United States
17900 Posts |
Grandpa's birthday or Christmas presents to his grandkids.
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Moderator
United States
187702 Posts |
Most are there from ignorance on the part of heirs and thieves, but I do see how a minority could be from collectors on purpose or as misspent pocket pieces.
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Pillar of the Community
United States
4211 Posts |
There are proof sets out there that are hardly worth face value wholesale.
I have spent proof coins on numerous occasions just for fun.
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Pillar of the Community
United States
4867 Posts |
I find them from time to time. Since they are impaired I just spend them.
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Moderator
United States
187702 Posts |
Keep spending them. I like it when they are found.  |
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Pillar of the Community
United States
2910 Posts |
Relative to other denominations, there seem to be a much higher percentage of proof halves circulating than for any other denomination. Anyone got an explanation for that?
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
4867 Posts |
I have only seen nickel and dime proofs in circulation.
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Moderator
United States
187702 Posts |
I have only ever received one proof in circulation and technically it was my wife who received it at the store (and later handed to me). A 1999-S clad proof Delaware quarter.
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Replies: 23 / Views: 3,009 |
Posted 01/06/2018 1:51 pm
