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 Replies: 17 / Views: 6,889 |
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Pillar of the Community
United States
2757 Posts |
Just pulled a nice 2005-S (Proof) Bison nickel from a roll. It was my third proof I found in a roll, and I just read that someone found a nice 1991 proof nickel in a roll too.
It makes me wonder, how do the proof nickels make it into circulation?
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Pillar of the Community
United States
4867 Posts |
A few years back when I was a cashier, I busted open a roll of nickels and dimes and I found 4-5 proofs in each roll. Why it happens? Well there could be a number of things. Maybe some kid got into their parents collection, or maybe they really needed the money and was wrapping their premium coins to cash in.
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Valued Member
United States
466 Posts |
when you find a proof coin in circulation it is due to someone popping the coin from the proof set and it finding it's way to the bank. I personally have only bought one proof set and I plan on using it in my 7070 type set dansco album All of my other proofs have been finds from circulation I have found 3 half dollar proofs 1976 S x2 2006 S 6 quarter proofs 1973 s 1974 s x2 1990 s 2000 s south carolina 2006 s nebraska 4 proof nickels 1969 s 1977 s 1995 s 2004 s louisiana purchase 12 dimes 1962 (my only silver proof) 1974 s 1976 s 1978 s 1980 s 1989 s 1991 s x2 1992 s 2000 s 2001 s 2004 s 2 pennies 1962 1969 s probably around 3/4 of the coins have a really nice luster to them I love finding proofs in circulation. My latest one was the nebraska State Quarter which I found a few days ago in a $500 quarter box I searched Edited by googoo
09/11/2011 09:42 am
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Valued Member
United States
294 Posts |
Me. personally, I was buying proof (and Mint) sets for the Kennedy halves. In most cases it was cheaper to buy them this way than it was to pick them up singly. While I have never spent any of the leftover coins, I have a few still here, and recently sold some to a buddy who has a table at a local flea market. I am sure I'm not alone in this method. Where they go from there is anybody's guess, but the theories proposed above are likely. |
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Pillar of the Community
United States
2661 Posts |
I was told by a dealer a couple of years ago that the mint now puts the reject proofs into circulation. He said it is cheaper than destroying & recycling them. I have tried to validate that story because I find slightly hard to believe but on the other hand it makes sense to me for them to do that.
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Pillar of the Community
United States
4212 Posts |
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Valued Member
United States
438 Posts |
I found a 1991 Jefferson proof last night at work when cracking a roll open. Must have saw my post on here :p
before that, I have never found one before, so for me it is rare
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Pillar of the Community
United States
1590 Posts |
Our local bullion dealer takes the silver coins out of the proof sets and puts the non-silver coins in the cash register.
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Pillar of the Community
United States
997 Posts |
I find the occasional proof quarter in circulation, I have at least two in the last year including a 1995-S silver proof and a 1976-S silver (not sure if it was a proof or a mint set strike). I also have found a couple Kennedy half proofs in circulation at banks or stores. Since they don't circulate much they tend to accumulate in the drawers and every once and again I get a few. Over the last 5 years I have gotten a few hundred halves in circulation and have 2 clad proofs and 1 silver. Edited by n9jig
09/11/2011 1:25 pm
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Bedrock of the Community
United States
12437 Posts |
Quote:
I was told by a dealer a couple of years ago that the mint now puts the reject proofs into circulation. That sounds like a bit of dealer urban legend. Unlike all other business strikes, proofs are minted at the San Francisco Mint. They do not have the infrastructure for handling coins being sent to the Fed/armored carriers, the costs of putting a low volume of rejected proofs into circulation would by far exceed those costs at the other two Mints which are set up for those duties. Besides that, the term "rejected proof" implies that something is wrong with the coin, i.e. an error, which the Mint would definitely not be putting back into circulation. |
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Pillar of the Community
United States
917 Posts |
I have found the following: 1960 Jefferson proof, 1979-S Jefferson proof, 1993-S clad Roosevelt Proof, a total of three Kennedy proofs (1983-S, 1987-S, and clad 2001-S), and a 1973-S clad Ike proof.
Maybe someone broke up a set a while ago and cashed it in.
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Valued Member
United States
333 Posts |
I find that they are typically nickels and pennies. The type of coins that I expect to be spent after a silver proof set is cracked open. As for the others, I suspect that when Joe Schmoe goes to the local pawn-shop jewelry store they offer Joe the face value of the coins. Joe thinks that is dumb and decides to crack them out himself.
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Pillar of the Community
United States
687 Posts |
There are a lot of theories, but no concrete answers as to why they end up in circulation. Kids, theft, ignorance, dumping due to low value, etc all probably happen.
Halves are the most commonly found (assuming you look at halves) - I've found ~13 halves in circulation including a 63 Franklin. I have almost the entire run from the 70s and I'm kinda hoping I can complete the clad proofs from circulation some day.
I've also pulled 3-4 nickels and one dime. Never a quarter or penny, but I don't search those often.
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Pillar of the Community
United States
1204 Posts |
The only denomination I didnt find yet is the $ dollar . The hard to find is the penny , the rest is not big deal as I found about a dozen of each nickel , dime ,halves and couple State Quarter ! |
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Valued Member
United States
406 Posts |
My local coin dealer deliberately gives out some proof coins out in change - generally proofs with slight issues that would make them difficult to sell - a pretty small contribution to the local cash economy, but out there nevertheless. I got a 1989-s proof cent this way a few weeks ago and I've also picked up a couple of proof nickels.
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Pillar of the Community
United States
1431 Posts |
About a month ago, I hit the mother lode of Proof nickels in rolls from the bank. Seems to have been someone's dumped collection. Found a proof 1951 (DDO-1), 1957 x2, 1959, 1960 x2, 1961, 1962 x4, 1964 x2, and 1965 SMS.
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Replies: 17 / Views: 6,889 |
Posted 09/11/2011 09:40 am
