A Little Confused - Coin Community Forum

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Author	Replies: 5 / Views: 1,584
Wornslick Pillar of the Community United States 1304 Posts	Posted 04/01/2010 9:37 pm I stopped at a coin store today and bought a 1963 Franklin Proof. I get home and looked it up in the RedBook and they show it at $15.00. Right next to it is the MS-65 at $50.00. Why is this, I thought Proof was the best grade. Why the big difference in price? Report this Post to the Staff

Billie Pillar of the Community United States 592 Posts	Posted 04/01/2010 9:44 pm Proofs are made to a higher standard for collectors; business strikes in high grades are usually much rarer in modern coinage. The RedBook..fugedaboutit... It is an excellent resource for information. Not so good for values. Report this Post to the Staff
AMFCook Valued Member United States 312 Posts	Posted 04/01/2010 9:54 pm Quote: I stopped at a coin store today and bought a 1963 Franklin Proof. I get home and looked it up in the RedBook and they show it at $15.00. Right next to it is the MS-65 at $50.00. Why is this, I thought Proof was the best grade. Why the big difference in price? You have to remember that proofs are flawless, and MS is near flawless and/or close to proof. For a coin made for general circulation to have retained its mint luster, and sharp details is quite rare and will have a premium over coins made as uncirculated or proof. Report this Post to the Staff
Wornslick Pillar of the Community United States 1304 Posts	Posted 04/01/2010 10:03 pm Thank you, I understand now. Report this Post to the Staff
steve199 Pillar of the Community United States 1882 Posts	Posted 04/02/2010 6:29 pm Proof is not a grade. Proof refers to how the coin is made. A proof coin is struck (usually) more than once, and the dies are polished to give a mirrored appearance. The dies can be also created to create a cameo effect to the coin. I agree with the other comments...a proof has a better chance of remaining in a high grade because it probably was first owned by a collector. Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 04/02/2010 9:27 pm Quote: bought a 1963 Franklin Proof. I get home and looked it up in the RedBook and they show it at $15.00. Right next to it is the MS-65 at $50.00. Why is this, I thought Proof was the best grade. Why the big difference in price? The biggest reasons for high quality MS grades to be valued at higher than Proofs, as you noted and discovered, is that it is much harder for "circulated" coinage to maintain a high quality.....Proofs never "circulate" and were never intended to....ever. So, to find a high quality "circulated" coin is much rarer in that sense than a Proof coin that was created to be a "show piece" right from the start. So even with Ultra Modern coins, you can find this to be so. It isn't a "100%" kind of thing, but a "general rule". (some MS Uncirc's are lower mintages too) Edited by eaglefoot 04/02/2010 9:28 pm Report this Post to the Staff
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