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Posts: 2,196
Registered: ‎05-18-2013
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As New doesn't mean it's New

I'm seeing some sellers describing Proof coins AS NEW which doesn't mean the coins are NEW so beware of this when bidding or buying.

PROOF means exactly that and there shouldn't be any kind of marks on these coins so selling them AS NEW is pointless and buying them is worthless in my opinion.

I have purchased some coins that turned out to have marks on them that were described NEW which I pointed out to the sellers and lucky they were ok with me returning them as they were not worth anything.

Community Member
Posts: 16,558
Registered: ‎02-27-2008

Re: As New doesn't mean it's New

in reply to eezipeezi888

But you can have proof coins that are not new.

Proof coins mean a different process so they can be proofed that die is correct.

 

 By treating the die in a special way, the coins it produces have a different appearance.  Modern technology allows the high points on the coin design to be acid treated (on the die).  The background (field) design of the coin die is polished, resulting in a mirror-like look on the coin it strikes. This gives the finished coin a frosted look (frosting) on the raise parts of the design, with a mirror like finish on the background. This contrasting finish is often called "cameo". On some older coins a cameo appearance is quite rare. The attribute "CAM", when added to a coin's description, means cameo appearance. "DCAM" means deep cameo, and indicates the cameo appearance is strong and easy to observe.

 

Today's grading of proofs is similar to the grades used for uncirculated coins.  The attribute "PR" or "PF" stands for "proof", and is used instead of the MS (mint state) to indicate a proof coin. Proofs (that are also un-circulated) will be graded PR 60 to PR70, with PR70 being rare or nonexistent in some cases.  Because a proof coin can be mishandled or receive wear by cleaning or handling, proof grades can extend below PR 60.  Example, a PR50 grade proof coin, is one that has had a touch of wear on the high points of the coin. Like uncirculated coins, proofs can experience toning, tarnish or darkening. 

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Community Member
Posts: 2,196
Registered: ‎05-18-2013

Re: As New doesn't mean it's New

in reply to kopenhagen5

I know what you're saying and I'm not to fussed about the toning what I'm peed off with is when the coins have scratches on them they're not worth anything to me and yes PR coins state the condition they're in,but to many sellers are selling coins that have marks on them and I wouldn't buy these coins would you?

PR69-70 is what I would buy and anything below that I wouldn't unless it's an old proof coin from the 60's lol.

Community Member
Posts: 16,558
Registered: ‎02-27-2008

Re: As New doesn't mean it's New

[ Edited ]
in reply to eezipeezi888

You're right, one expects a proof coin to be in UNC condition. And I wouldn't be interested in proofs with marks.

Obviously there are some proof coins not being cared for and even grandkids might use their gift coins to buy lollies, hence there being circulated proofs out there.

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Community Member
Posts: 2,196
Registered: ‎05-18-2013

Re: As New doesn't mean it's New

in reply to kopenhagen5

I did an experiment one day with a scratched proof coin,I tried to deposit it through an ATM with other coins that were normal and guess what the ATM spat the proof coin out and it read sorry but there was an item that wasn't recognisable lol,it was a proof $1 coin.

I went into the bank and asked why the ATM wouldn't accept it and they said because of how shiny it was and that it wasn't a coin for circulation so the scanner picked it up as an alien object hahaha