What is a Proof in Coin Collecting
If you are an avid coin collector, you have probably heard of a proof coin, if not, do not fret. Simply, a proof coin is a coin that most collectors want. These coins are usually specially created and are finished with high standards. Some of these coins are made with some of the finest metals. An example of this would be proof gold coins. These coins are usually minted in small numbers, and they are usually not circulated as widely. The fact that these coins are made so differently is what makes them important to collectors.
A coin that is newly minted is not always circulated to the general public; however, just because it is not circulated doesn’t make the coin a proof specifically. To get an idea of what gives value to a proof coin, you have to first understand how the coin is produced and why.
When it comes to minting proof coins, the process is much different from your common circulated coins. The coin is made when two different dies collide with a specific type of metal. The dies have two completely different engravings. To make the coins even better, the coin is stuck two times, which is able to make the designs much clearer and finer, which most definitely appeals to a collector’s eye. Even the thinnest and finest lines in the die template will be able to be seen on the proof coin.
Also when a proof coin is minted, the die that are used have a unique polish that is not used on ordinary coins. This gives the coin a different look when compared to coins that are meant for circulation. The dies that are used are applied with acid. The background that is present on the die is polished, which gives the proof coin a slightly frosted look. What coin collector wouldn’t want a coin like this?
Many proof coins are minted in Philadelphia or Denver. The coins have a letter that represents where it was made, which is known as a mint mark. Proof coins also have a year embedded on it to show when it was made.
If you are a coin collector, or even if you are new to the hobby, you probably already know about coin grading systems. When it comes to proof coins, the system is based upon PR and PF. Grades range from PR60-PR70. In this case, the coin graded a PR70 is said to be a perfect proof coin. Any coin that is graded lower than a PR70 is not on the level of perfection. This usually happens when a coin was not handled the right way when it was being made.
If you become interested in collecting proof coins, know that collecting these coins is not cheap. The price of a coin depends on how old it is. Proof coins can range from a few dollars to thousands. If you are not sure about a specific coin’s value, take it to an appraiser or someone who is an expert in collecting coins.