why is a proof coin cheaper then a pr70 coin, i just started putting money in coins and would like to know what ones should i get for a good return in 20 years, thank you
Kevin - welcome to CoinTalk. We'd love to learn more about your collecting interests. If you have the time, please go to the Introductions page and tell us about yourself!
but isnt a proof a perfect coin, i have some proofs that are perfect no spots at all. can i send it in to be graded and come back a pr70
Its complicated and takes time to learn how to grade. Proof is not a perfect coin. Its a method of manufacture. They polish the dies and everything and strike it with more pressure than a normal coin (called business strike). PF70 has no marks dings hairlines nada under 10x magnification. PF69 has no marks dings hairlines nada under no magnification. PF68 has more marks than a PF69. PF67 has more marks than a PF68 and so on. The scale goes all the way down to Poor 1.
Welcome to CT Kevin, 1st - If you are looking for a good return in 20 years you should seriously consider investing in something else. If you are going to invest any serious amount of money in coins I would strongly advise that you buy some books and start reading. Would you invest money in anything you don't know much about? I wouldn't! No one knows what coins will be worth in 20 years. Stick around, read a lot, go to local coin shows and ask a lot of questions to different dealers and over time you may find an area of collecting you like and be able to tell what has a better chance of at least holding some value over time. There is no simple answer that you are going to find to the investing question! Your grading question is different. PR means proof. As far as value that will depend on the individual coin/grade/date/condition and market. Good Luck ~ Darryl
No Different people see different things - experts such as the graders at a TPG will see things most others do not! Possibly - but not likely - only a small percentage of proofs are good enough to get a 70 grade. The first book you should look at getting is "the coin collectors survival manual" by Scott Travers
PF70 is a grade...just like PF69, or PF62. All of those are proofs. Proof is talking about how the coin was minted. It sounds like you are wanting to invest in coins--this is not a good idea, nor one that I would suggest. Do a search here on CT for Investing in coins and I think you will find a month worth of threads to read! Speedy
Just because you buy a coin that is graded PR70 doesn't mean that it will gain in value over time. You are confusing terminologies - Proof refers to a type of strike and PR70 refers to a grade. And as I said in my 1st post a PR70 is a proof coin but not all proof coins are PR70 worthy.
Use the RedBook as a tool, but not as a price guide. The Red Book is printed months before the year it comes out for, and as we both know, coin values go up and down almost every day. Speedy
