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<p>[QUOTE=&quot;Leadfoot, post: 541594, member: 2972&quot;]Yes.&nbsp; They are rare -- far rarer than mint state ones -- particularly for IHCs.&nbsp; To wit, I can&#039;t recall the last time I saw a circulated IHC proof, but I&#039;m sure they&#039;re out there. </p><p><br /></p><p>In general, the higher the denomination the more likely it was spent -- you&#039;ll see more proof halves and dollars circulated because of their intrinsic value.&nbsp; Remember, back in the 1800&#039;s a dollar bought a LOT of stuff.&nbsp; But a cent (obviously) wasn&#039;t as valuable so the reward for spending one was less.</p><p><br /></p><p>Or at least that&#039;s the way I&#039;ve always thought about it/rationalized the number of larger denomination proofs you see in circulated condition.[/QUOTE]</p><p><br /></p>

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