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SilverCoins
5th June 2008, 09:29
Hello I am new to collecting silver and just have a simple question... What is the difference between PROOF coins and non-PROOF coins? I realize PROOF coins have a mirror like finish... are they worth more? thanks!

Scrap Metal
5th June 2008, 09:46
You are correct, proof coins have a mirror finish. They are made especially for collectors, not for general circulation. They generally have numismatic value over the same coin in a business strike, which is a coin made for circulation.

There can be vast differences in the values of proofs. For example, all Silver American Eagle proofs really look the same. The difference is the year and the mint. While many of these are valued between $30 and $40, some are over $100, and the 1995 W proof is valued between $4,000 and $5,000. Basically, they are identical in looks. The price is based on how many were minted, and how badly collectors desire them.

This is one of the areas where collectors need to understand the market. Some proof sets are hot, while others are dogs. I do not collect any but the Eagles, so I am not a proof authority. But that is a general overview.

SilverCoins
5th June 2008, 09:49
You are correct, proof coins have a mirror finish. They are made especially for collectors, not for general circulation. They generally have numismatic value over the same coin in a business strike, which is a coin made for circulation.

There can be vast differences in the values of proofs. For example, all Silver American Eagle proofs really look the same. The difference is the year and the mint. While many of these are valued between $30 and $40, some are over $100, and the 1995 W proof is valued between $4,000 and $5,000. Basically, they are identical in looks. The price is based on how many were minted, and how badly collectors desire them.

This is one of the areas where collectors need to understand the market. Some proof sets are hot, while others are dogs. I do not collect any but the Eagles, so I am not a proof authority. But that is a general overview.

Awesome, thank you for the explanation! :D