Circulated proof half dollars - not worth more than face?

Discussion in 'US Coins Forum' started by Dougmeister, Apr 27, 2015.

  1. Dougmeister

    Dougmeister Well-Known Member

    I've heard that the main ways these find their way into circulation is that dealers buy them by in bulk, submit the best for grading, and dump the rest into circulation. Is that true?

    I have several rolls that I've saved over the years. I thought I saw some lots selling for decent prices (2x face) on eBay but did not bookmark them and can't find them now.

    Most of my brain says that, if the dealers couldn't sell these for a profit, then there is little chance that I can after they've been even a *little* bit circulated. Is that pretty much the consensus?

    (If I posted this before, I apologize. I searched and could not find that I had.)
     
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  3. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    I don't think the half dollar proofs are sold separately by the Mint. Maybe I misunderstood you. It's my guess that the dealers buy the proof sets from the Mint and submit them in bulk for grading. Any that do not meet their minimum grade are returned raw. Then, the dealers will try to sell the ungraded ones in tubes or individually to dispose of the rest.

    When I was searching boxes of half dollars, I would occasionally find an impaired proof, and it's my guess that these were the worst of the lots that made their way to circulation.

    Chris
     
  4. ldhair

    ldhair Clean Supporter

    Folks bust up proof sets and roll what they don't wish to have graded. Rolls like this should bring a bit more than face. If picked from circulation one at a time, they are not worth more than face value.
     
  5. coinman1234

    coinman1234 Not a Well-Known Member

    I keep them...
     
  6. GDJMSP

    GDJMSP Numismatist Moderator

    There's lots of ways that Proofs can make their way into circulation, dealers discarding low grade examples is but one of them. Kids, given the sets as gifts, often break them up and spend the coins. Collectors, who decide they have too many examples spend them. Those who inherit sets sometimes break them up and spend them. If you can imagine a way, it's happened.

    Are the coins worth more than face ? Depends on who you ask, some say yes, some say no.
     
  7. medoraman

    medoraman Supporter! Supporter

    Honestly, if I had some proof half dollars, I would put them in my pocket. Not to spend them, but to put some good wear on them. For some reason some people are into that whole "lowest grade" competition, so will actually pay good money for well worn proof only issues. So, put some proof only issue in your pocket, and know every time they ding against something, get worn, or otherwise wear down know you are literally putting money in your pocket.

    As a coin collector it makes me sick, but that is the economics associated with "registry sets" nowadays. :( I know everyone knows my views on slabs, but come on. Why do collectors have this compunction to out do others and "win"? Good gosh, I love all other coin collectors, and love just talking about coins. I have no desire in the world to wish to compare my collection to theirs, especially critically. Collect coins, enjoy the journey, talk to other coin geeks about coins and enjoy life. Its a dang hobby.
     
    coinman1234 likes this.
  8. Tom B

    Tom B TomB Everywhere Else

    I have never met a dealer who willingly spent at face value proof half dollars unless they were already damaged. Given that you are writing about modern JFKs, I would have to think that few got into circulation from dealers. My guess is that kids who inherit them or are given them as gifts would rather spend them than save them. Similarly, those who steal them are happy to spend them. I don't know where you are getting your coinage in order for you to put several rolls together of these, but I would value them at face value unless they were silver.
     
  9. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    What I dislike the most about the Registry "competitions" are those collectors who MUST HAVE the best of the best. They have deep pockets to buy these coins, but when all is said and done, very, very few of them enjoy sharing photos of their prized possessions with others. If it were up to me, anyone wishing to participate in a competitive registry set MUST provide photos.

    Chris
     
    bwdul likes this.
  10. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    @Tom B

    My first thought was that these rolls came from proof sets that did not grade high enough in bulk submissions.

    Back in 2006, when I needed proof nickels for the Westward Journey sets I was putting together, I bought 9 rolls from a dealer who had submitted the proof sets and these did not meet his minimum grade requirement.

    Chris
     
  11. Coinchemistry 2012

    Coinchemistry 2012 Well-Known Member

    This. If large hoards are coming out, the coins may have been stolen or someone is liquidating an estate in a poor manner.
     
  12. 19Lyds

    19Lyds Member of the United States of Confusion

    I think that they are all worth more than face BUT when the costs associated with selling the coins is factored in, it's just much easier to spend them or deposit them at the bank.

    I mean, why spend a buck just to sell something for .75 cents?

    Busted up proof sets that are NOT silver or a certain variety get thrown into my bank bag for deposit.
     
  13. jonny oneal

    jonny oneal Member

    in 2014, i bought a bag of 200 JFK half dollars (both P & D) and made "rols" by selecting the best and putting them into "plastic" baseball holders, then into NGC r PCGS slab boxes my wonderwife found at a garage sale for 50 cents each. this way i have a "roll" of P&D half dollars without paying the Mint's outrageous prices. I hope in twenty years they have some value as uncirculated halves. Comments?
     
  14. Dougmeister

    Dougmeister Well-Known Member

    I think you'd get a better response by starting a thread with a title more appropriate to your specific question.
     
  15. Coinchemistry 2012

    Coinchemistry 2012 Well-Known Member

    I wouldn't hold my breath. Unless you have top pop coins, I don't see much potentially.
     
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