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newbie question: where do rolls of proofs come from?
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<p>[QUOTE="cladking, post: 618798, member: 68"]It's the obvious answer but the wrong conclusion. </p><p><br /></p><p>Most of these rolls are generated by the big wholesalers who buy huge quantities of sets usually at a premium to bid. Some even used machinery to break up the sets. I've actually seen entire roll bags of proof coins. </p><p><br /></p><p>Many people assume these are lower quality than proof set coins still in the set but this isn't true. Since most of these coins are destined for retail they will pull out and spend all the substandard coins which can account for nearly 10% of mintage in some instances. Of course they also remove the top one or two percent for slabbing so you won't be getting any MS-70's in rolls either. The average quality is actually higher than proof set coins. </p><p><br /></p><p>This is the source of most of the proof coins seen in circulation. Usually the dates you see is a proof set which just dropped in value to a price that's lower than the sum total of the coins in it. When this happens this date will recieve more busting than most other dates. You'll very rarely see a date where the set is worth more than its parts. When you do it's usually because a collector cut a set for a specific coin or one inadvertantly got into circulation. </p><p><br /></p><p>But the vast majority of the proofs in circulation were spent intentionally by wholesalers or collectors.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 618798, member: 68"]It's the obvious answer but the wrong conclusion. Most of these rolls are generated by the big wholesalers who buy huge quantities of sets usually at a premium to bid. Some even used machinery to break up the sets. I've actually seen entire roll bags of proof coins. Many people assume these are lower quality than proof set coins still in the set but this isn't true. Since most of these coins are destined for retail they will pull out and spend all the substandard coins which can account for nearly 10% of mintage in some instances. Of course they also remove the top one or two percent for slabbing so you won't be getting any MS-70's in rolls either. The average quality is actually higher than proof set coins. This is the source of most of the proof coins seen in circulation. Usually the dates you see is a proof set which just dropped in value to a price that's lower than the sum total of the coins in it. When this happens this date will recieve more busting than most other dates. You'll very rarely see a date where the set is worth more than its parts. When you do it's usually because a collector cut a set for a specific coin or one inadvertantly got into circulation. But the vast majority of the proofs in circulation were spent intentionally by wholesalers or collectors.[/QUOTE]
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newbie question: where do rolls of proofs come from?
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