I like proof coins – after all they were purposefully minted with special care to be as sharp and beautiful as possible, often in limited quantities especially for collectors. But for those very reasons, sometimes proof coins feel almost like cheating, in a way. They were never intended for circulation and so for the most part, were never exposed to the bumps, dings, scratches, and wear that circulation coins experienced. They didn’t do any work. Consequently, while a high grade, sharply struck proof is nothing standout or special, finding a similarly beautiful “business strike” coin is much more difficult. For these reasons, even though as stated above, I like proof coins, and have a few, I tend to shy away from them and focus mostly on circulation coins for my collection. What about you? Do you have a preference for either? Proof: BRITISH INDIA Bombay Presidency CU Proof 1½ Pice (29.0mm, 9.71g, 6h) Dated 1791. Soho mint, Handsworth, England Obverse: United East India Company bale mark, with date below Reverse: Balanced scales, Persian legend “balanced” or “just” between References: Numista 50421 Mintage: unknown In PCGS encapsulation, graded PR63 BN. Only two proof specimens graded higher by PCGS, none by NGC. A rare proof specimen with glossy brown surfaces. Prooflike: UNITED STATES OF AMERICA AR Dollar (38.1mm, 26.73g, 6h) Dated 1886. Philadelphia mint Obverse: Liberty facing left, wearing Phrygian cap, wreath, and diadem inscribed LIBERTY; E·PLURIBUS·UNUM above, 13 stars around; date below Reverse: UNITED STATES OF AMERICA around eagle facing with wings outstretched, head left, holding olive branch and arrows in claws, wreath encircling; * ONE DOLLAR * below Mintage: 19,963,000 In PCGS encapsulation, graded MS63PL. Gem business strike: REPUBLIC OF GUATEMALAAR 10 Centavos (20.5mm, 3.33g, 6h) Dated 1945. Guatemala City mint Obverse: REPUBLICA DE GUATEMALA around coat of arms of Guatemala: quetzal perched on scroll inscribed LIBERTAD 15 DE SEPTEMBRE DE 1821 in four lines; crossed rifles and sabres behind, wreath around; below arms, 0.720 1945 Reverse: -LEY DE 26 DE NOVIEMBRE DE 1924-, quetzal perched on pillar inscribed 30 DE JUNIO 10 DE 1871 in five lines; 10 in left field, CENTAVOS below References: Numista 5128 Mintage: 1,499,000 In NGC encapsulation, graded MS66. Only one graded higher at NGC; none higher at PCGS. From the Globus Collection. A most attractive specimen, lustrous and lightly toned.
I have collected proof and high MS coins but my ardent focus is on finding coins that have survived circulation and are MS (newly added to the gen. pop.) and not worse than VF20. The vast majority average AU58. But, as we all know, every coin is it’s own special animal. I would keep a 1914-D Lincoln no matter what condition as long as it wasn’t damaged or corroded. Like you, I have an affinity for finding them from circulation.
I'd prefer a fender washer over a proof coin. I'd take a XF45 or 40 anytime. I do have proofs that only came in that version; such as the 2017 South Africa silver Krugerrand. Proofs remind of the BS artists at work that never do anything except look good.
I do think the older the proof, the better. A proof coin from the 1800s or even earlier is actually pretty special. Ditto for very low mintage proofs (which most early ones were.) For example I'd much rather have a 1930s proof Washington quarter than one from 1964. And hey, there are always exceptions! As I write this, I have a 1980 proof coin "out for delivery".
I am a historical US coin collector primarily. I spent my whole life collecting “average” circulated coins because it was all I could afford. Now that I am in a little better place I have allowed myself some better pieces and yes I do seem to have a fairly decent selection of mid-late 19th century proof pieces. I do appreciate holding a flawless 150 year old coin in my hands. Don’t much care for modern proofs though.
I have Proof, Uncirculated and circulated in my collection. The sets have been mostly found in the wild or traded for. Here are a few of my Near Mint found during CRH.
Proof coins have their place but all proof coins were originally minted specifically for collectors. Circulating coins are much more of a challenge and to find a clean, non damaged coin that’s circulated is sometimes very difficult. Then there’s the notion that you don’t know who handled the coin but with circulation coins, well, let me just say that I have several of them handled by the founding fathers of the United States, along with other famous people.
I like proof coins as they are coins that are nearest to perfection....Although they don't always circulate (impaired) I enjoy them rather well.
I'm not perfect, so my coins don't have to be. And yes i all kinds from proof to road rash, I love them all.
I personally do not have any great desire for proofs; I collect most coins because of what they are/were and the history they hold, never to be fully known so open to the imagination. I do enjoy looking at the proofs that are posted in these forums and admire the beauty and perfection, and I have some of the clad and silver mint proof sets: my father had a few and I buy them most years.
That is certainly a valid point. And that one is a beauty! I've been tempted to pick up one of the post-2021 Morgan proof dollars. It's a classic old design, so it's an exception.
As a U.S. type coin collector, I've gone for the Proof coins whenever I could. Sometimes they are cheaper than the Mint State pieces. I did buy one of the late date Morgan and Peace dollars coins. I wanted to see the Peace Dollar design fully struck up. A typical strike for a 1921 Peace Dollar. One of the modern Proofs. The old Matte Proofs never looked this good.
I got hooked on the Dansco 7070 album. That took me into building the same set already graded. I would pick proofs over MS but enjoy both.
Proofs are clearly made for collectors, but well I am a collector, so nothing against them on that score lol. I do have quite a few, and sometimes I even find them in circulation. But well, anything pre-modern is really expensive in proof obviously, and I'd rather spread my finite funds over a larger variety of coins, which means more of my coins will be circulated than proof. It's kind of like asking what I think of gold coins. I have nothing against them, but I can't afford a lot of them, so I won't have a lot in my collection. Money being no object, sure I'd get a lot more, but well money is indeed an object to me lol. If there's one non-modern proof that's on my wish list, btw, it would be a nice proof (of any date) of a copper-nickel 3 cent piece. What can I say, it's one of my favorite US coin designs that isn't already everyone else's favorite.
As a rule I only collect business strikes and preferably circulated ones. I do like to have the occasional proof, especially for the older pre early 20th century pieces. My problem is that for some of the series I have collected the business strikes are much rarer than the proofs, For example my nickel three cent collection is all business strikes. I'm down to the last coin, the 1884. A business strike is going to cost around $4,000. But I can get a nice proof for $800. Lots of people have that problem with that series. Look at most any collection of nickel three cent and the 1882, 83, 84, 85, and 87 will almost always be proof coins and not business strikes. You see the same thing with shield nickels. sets almost always have the 1879, 80, and 81 as proofs.
