Proof versus MS

Ok. Iam getting mixed information concerning this topic. On one hand I read that Proof coins are more rare and cost more, yet everytime I turn around I see the MS version of the same grade and coin selling for double its PF version. Whats the deal?? Almost all my coins are proof, but I see the PF coins that I own selling for half of what I paid, and the MS version selling for my purchase price.

 

Log in or Sign up to hide this ad.

Generally speaking, it is tougher to find a coin in MS70 than it is to find it in PF 70 (even 69 for that matter).

Proofs are minted with perfection in mind whereas Mint State coins are meant for circulation, so not as much care goes into their striking.

These are big factors, among others, that determine supply and demand which in turn, determine price.

I like both, but prefer proofs because they exemplify what a "perfect" coin should look like.

 

Does this mean that iam paying too much for my proof coin??

 

Not necessarily. Evaulate the proofs on their own merit. Compare apples to apples only, oranges to oranges only.

Give me more detail. What coins are you talking about ? Moderns ?

 

Not necessarily.

I assume your proofs are in Mint packaging? If this is the case, the is a market, and will probably always be a market for these coins.

If you have purchased graded proofs, then prices will generally remain relative unless something occurs to increase/decrease supply and/or demand for that coin.

If I look at my collecting over the years, I have purchased mint sets from the Mint, dealers, and online so that I can look at what a "perfect" coin should look like. When it comes to graded coins, I have purchased primarily Mint State examples because I am trying to obtain a really nice example of a circulation type strike because one would figure that most of these will go into commerce and get dinged and damaged. People do not buy Mint Sets to break up and spend. They are kept for collecting purposes.

Summarily, if you like proofs, continue purchasing Mint Sets. If you can afford it, I recommend silver proof sets. When it comes to graded coins by PCGS, NGC, or ANACS, I would purchase mostly MS type coins of 69 for coins from the 90's to present and 66-69 prior to that depending on the coin and price.

 

Of course, you can look at it this way as well....one can purchase a proof set dating back 50 years or more for less than the original price of the piece. Modern proofs are literally a dime a dozen. Classic proofs are where the money comes in.
Guy

 

well i recently bought congressional 1997 FDR coin signed by Mercanti in PR69 for $900. I was l looking online and saw that this coin in a PR69 was selling for around half that without Mercanti's signature, and MS70 was selling for the price I paid.

 

sorry. MS69 was selling for price i paid

 

It sounds like the signature has value.

Also, I agree with coleguy, I think older proof sets are a good buy right now.

 

Thank you again, GDJMSP, for the knowledge. You are a veritable numismatic storehouse of information.

 

I usually purchase from US money reserve or APEX, and get all coins in slab. However I see great prices on ebay, but hear that there are many scammers.

 

He is a literal numismatic knowledge base. Doug has forgotten more about coins than many of us will ever know.

 

Which is why one should never mix crack with cheap whiskey.

 

This coin is the FDR $5 Gold Commemorative? If so, and since I don’t collect labels, I would not have paid that price, But some do collect labels, so I’d check to see what these are going for at auction. And yes, you can find better prices online, just make sure you can return the coin.

As for uncs going for more than proofs, the modern commemoratives are one series where uncs typically sell for more than the proofs after the ordering period ends. This is an example of lower mintage creating demand, since more proofs are sold during the ordering period. I collect only the uncs, not only because they typically show better appreciation, but because I prefer their look to the proofs.

 

Yes

 

He never said that cheap whiskey was bad, just that you shouldn't mix crack with it.

 

No kidding. You get those whiskey goggles on and you never know what kind of crack you just might get.

 

Nuff said....