Sure, this probably happens, but does it happen that much? Who is to say that some kids aren't given the coins as gifts (Xmas, Birthday, etc.) but they don't really care about collecting. So, they spend them. Chris
This, I suspect is the most common way--either that, or heirs who really don't give a darn once they realize that they aren't going to get rich by selling them.
In my opinion older proofs probably was theft and being spent. But for modern proofs its likely people (likely dealers for the most) just not bothering with the hassle to try and sell them or they just wanted one coin out of the set and spent the rest.
A dealer can still get a few bucks for each proof instead of spending them at face value. When I needed 2004-2006 proof nickels for a special project, I bought 9 rolls at $100 per roll ($2.50 each). Chris
Very true but not all of them want to sit on them or deal with it. For example dealers putting together a Kennedy or Ike group and done want to be bothered trying to sell incomplete clad proof sets. It very well could be more collectors doing things like that or only collecting some of the series in the sets though.
I would tend to think even dealers who are putting together a special set would be more likely to 2X2 the others and offer them in their junk bin before throwing them into circulation. As a collector I would not think of tossing proofs into circulation.
The 2x2 itself would cost more than the proof penny. I'm sure some dealers do save every last thing for sale, but many would rather get face value and be done with some left over proof pennies and nickles ect. There certainly is an ebay market for individual proofs like that, but no money is being made for under two dollar sales with free shipping. Don't get me wrong I enjoy some proofs myself and more power to those that want to collect them, collecting should be enjoyable, its just from a time money analysis dealers are more profitable concentrating their efforts elsewhere than saving individual proofs from broken up modern sets.
I was thinking of a cardboard 2X2 flip not a plastic 2X2 snap lock holder. One costs me 2 cents the other 35 cents in which case you would be correct.
Even the cheapest at 2 cents is still more than a proof 1c. Again I don't mean to sound like I am talking down about proofs, but if your job was to make money off coins would you spend it using 2c 2x2s on 1c and 5c coins or even 10c proofs or somewhere more profitable?
