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 Replies: 11 / Views: 1,435 |
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Pillar of the Community
United States
876 Posts |
During the past year I have visited one of the LCS' I frequent to purchase 90% for my stack. On numerous visits I have been able to select very very nice proof strikes as a result of people cashing in on the value of silver compared to the numismatic value locked in a slab. The return for the silver value of the dime, quarter, and half exceeds the value of the intact mint set. I have been able to aquire proofs that appear to have just been traded dating back to the 50's in dimes, and more recently State Quarter 90% that was just broke out. So, I guess my question would be, does a proof coin only become junk once it has been in circulation? |
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Bedrock of the Community
 United States
12477 Posts |
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does a proof coin only become junk once it has been in circulation? For most modern proofs, I would say yes. In the end, it would depend on the specific coin and condition, though. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Moderator
 United States
34393 Posts |
For me, impaired proofs that I find in the wild are 2x2 worthy, but I recognize that they are only worth melt.
"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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Pillar of the Community
 United States
876 Posts |
So I guess I am OK to just let them fill the tube.
Would a variety change that deduction?
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Bedrock of the Community
Australia
21786 Posts |
I would grade a circulated proof in the same way as a normal business strike, and also value it at the same condition level as an equivalent business strike. Thus, you may find a 'PF- 50', and it would have an AU-50 value. I would find it very difficult to write off an impaired proof 1940 Walker half dollar graded at PF- 50 as "junk". The only difference is that the circulated proof coin qualifies to be called an 'impaired proof'. That qualification may be more attractive to some collectors. |
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Bedrock of the Community
United States
10034 Posts |
 Depends on the date/coin. Most clad ones I would just see as face value since clad proofs are generally not worth much, if anything, over face when selling. |
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Moderator
United States
187702 Posts |
Proof finds in the wild are always fun, but I agree, the resulting grade is conditional.
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Pillar of the Community
United States
876 Posts |
Thanks for the useful information provided by all of you. I will 2x2 clad proofs that I know to be uncirulated as I am the one that released them. As far as beautiful 90% silver proofs from the quarter tray at the LCS, right into the tube with the slicks and such. At some future time I may go back and look for varieties on them. I also feel that the State Quarters and such would be less than desirable for barter if the need be. Pre 65 would not be as suspect as a 2015 silver to the average person. Thanks for the exchange. |
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Pillar of the Community
Canada
3733 Posts |
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beautiful 90% silver proofs from the quarter tray at the LCS, right into the tube with the slicks and such. Keep your impaired proofs in a separate roll, they will always have a more of a premium over slicks, and damaged junk silver.. as they are nice and shiny.. never under estimate the premium for shiny, as opposed to dirty and damaged.. |
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Pillar of the Community
United States
876 Posts |
Nice advice Silverwolf! That is were I lean. The consensus is always intriguing. This exchange of information is invaluable. Thanks all.
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Bedrock of the Community
United States
20753 Posts |
I would consider most proofs from circulation as damaged.
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New Member
United States
27 Posts |
Will it only become junk once circulated? just depends on the coin series as example some later low grade 1893/95 Morgan proofs in fair condition have sold for hundreds of thousands of dollars. Many low grade walking liberty dollar proofs also have held high value even in XF Details, same with Mercury dime proofs. |
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Replies: 11 / Views: 1,435 |
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Posted 09/14/2021 8:45 pm
