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Is a proof coin "uncirculated"

1630Boston1630Boston Posts: 13,787 ✭✭✭✭✭

If I have a PR 67 coin in my type set with other MS coins, can I say that the set is "uncirculated?
Just thinking. :)

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Comments

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    Usually. Any wear on it?

    Liberty: Parent of Science & Industry

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    If no, has it ever been spent?

    Liberty: Parent of Science & Industry

  • airplanenutairplanenut Posts: 22,172 ✭✭✭✭✭

    It depends. Uncirculated has two meanings: literally, that a coin hasn't been in circulation, and less literally but more colloquially, that it's a business strike that hasn't been in circulated. A proof that hasn't been circulated certainly fits the first definition, though if you showed someone your set of uncirculated ___________ and the set contained all proofs, you'd get some quizzical looks.

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  • ShaunBC5ShaunBC5 Posts: 1,729 ✭✭✭✭✭

    It's your collection, call it what you want. If you're planning on selling it, though, you might at least make the distinction. "Uncirculated MS and Proof Strikes" or something along those lines. Or just call out the single coin.

  • JBKJBK Posts: 15,687 ✭✭✭✭✭

    Interesting question.

    Since "proof" refers to a method of manufacture, not a grade, I guess it could be "uncirculated".

    However, I don't think you could call it Mint State as MS and PR are not interchangeable on the slab labels. My understanding is that Mint State refers to a business strike.

  • Namvet69Namvet69 Posts: 9,016 ✭✭✭✭✭

    The only thing is a proof coin may be radically different looking and seem to be at odds with the grouping. Peace Roy

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  • SanctionIISanctionII Posts: 12,175 ✭✭✭✭✭

    The answer to your question I think is ".........in the pudding." :)

    As in "The proof is in the pudding."

  • MFeldMFeld Posts: 13,631 ✭✭✭✭✭
    edited July 22, 2020 1:38PM

    @ShaunBC5 said:
    It's your collection, call it what you want. If you're planning on selling it, though, you might at least make the distinction. "Uncirculated MS and Proof Strikes" or something along those lines. Or just call out the single coin.

    I’d go with “Uncirculated business strikes and proofs”. Or “Uncirculated Business Strikes and Proofs”. Or “Uncirculated and Proof” coins.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • crazyhounddogcrazyhounddog Posts: 13,980 ✭✭✭✭✭

    It depends.

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • StellaStella Posts: 704 ✭✭✭✭✭

    It depends on who you ask. Some purists would prefer to have all business strikes in such a set, whereas other collectors would not have any issue with this--think of the 1895 Proof Morgan being often included in Morgan Dollar date sets.

    Coin collector since childhood and New York Numismatist at Heritage Auctions.
  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    Proofs are made for the collectors ... uncirculated is a business coin for the public. IMO.

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    I think like JBK, method of manufacture which results in Proof and Mint State.

  • BUFFNIXXBUFFNIXX Posts: 2,718 ✭✭✭✭✭

    A proof coin is “Un-circulated” and a business strike is uncirculated.

    Collector of Buffalo Nickels and other 20th century United States Coinage
    a.k.a "The BUFFINATOR"
  • PerryHallPerryHall Posts: 46,240 ✭✭✭✭✭

    @BUFFNIXX said:
    A proof coin is “Un-circulated” and a business strike is uncirculated.

    What about a proof coin that entered circulation and has wear?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
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  • BStrauss3BStrauss3 Posts: 3,464 ✭✭✭✭✭

    Then it's an impaired proof.

    Still a proof as that's an artifact of it's manufacture.

    But graded below PF60 so it has some wear. Could be cabinet friction, could be circulation wear.

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • PerryHallPerryHall Posts: 46,240 ✭✭✭✭✭
    edited July 22, 2020 5:06PM

    @BStrauss3 said:
    Then it's an impaired proof.

    Still a proof as that's an artifact of it's manufacture.

    But graded below PF60 so it has some wear. Could be cabinet friction, could be circulation wear.

    I was asking a rhetorical question. I was trying to make the point that once a proof coin entered circulation and suffered wear it was no longer uncirculated even though it would still be a proof. If the coin was a proof only issue it could grade PF04 or even PF01. If it was a proof and there were also business strikes issued with the same date and mintmark, there's a point where the wear is so great that the coin can no longer be recognized as a proof in which case it's graded as if it were a business strike coin.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • coinbufcoinbuf Posts: 11,370 ✭✭✭✭✭

    Proofs are not made for circulation thus automatically uncirculated, it really only matters to coin nerds because if you show the set to a non collector they wouldn't have a clue.

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  • philographerphilographer Posts: 1,316 ✭✭✭✭✭

    This proof coin is circulated...or at least worn...

    Note, not my coin. From eBay archives

    He who knows he has enough is rich.

  • JBKJBK Posts: 15,687 ✭✭✭✭✭

    @coinbuf said:
    Proofs are not made for circulation thus automatically uncirculated, it really only matters to coin nerds because if you show the set to a non collector they wouldn't have a clue.

    Proofs are only uncirculated if they have never been in circulation. ;)

    The same can be said of business strikes.

    Intentions when struck aside, it's the wear or lack thereof that matters.

  • edwardjulioedwardjulio Posts: 1,103 ✭✭✭✭✭
    edited November 29, 2021 7:41AM

    NLH

    End Systemic Elitism - It Takes All Of Us

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭

    The term "impaired" proof is sort of a misnomer imo. Been that way for decades though. No coin is impaired if it just has normal wear and tear from handling and/or circulation. It happens. I'm ok with the term 'wear.' Just don't like the term "impaired" unless it really is. Nothing wrong with an PF55 with no "problems."

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,369 ✭✭✭✭✭
    edited July 22, 2020 8:17PM

    @keets said:
    I think like JBK, method of manufacture which results in Proof and Mint State.

    Me too, with the caveat that once it's below 60 (Proof or Mint State) , it's circulated/impaired or something else which took coin from the "uncirculated" status.

  • derrybderryb Posts: 36,953 ✭✭✭✭✭
    edited July 22, 2020 8:26PM

    @Jimnight said:
    Proofs are made for the collectors ... uncirculated is a business coin for the public. IMO.

    Mint makes uncirculated business strikes for collectors, i.e. the W non-proof American Eagles.

    Business strikes vs. proof identifies the two versions. Circulated vs. uncirculated describes their quality/condition.

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  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I had no idea this topic could engender such a lengthy discussion :o A proof coin (method of manufacture) could be circulated or uncirculated....that depends on what is happens to it after it leaves the mint. Cheers, RickO

  • 1630Boston1630Boston Posts: 13,787 ✭✭✭✭✭

    @ricko said:
    I had no idea this topic could engender such a lengthy discussion :o

    I love lengthy discussions that are peaceful/respectful in nature :)

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  • oih82w8oih82w8 Posts: 12,256 ✭✭✭✭✭

    BLUF: No, IMO. I may not know much but I am under the impression that "Proof" is a method of striking a coin or other medallion which was struck, at least twice, and was not meant for commerce, circulation. Circulation coins are struck once. Proof coins have entered circulation on occasion, but are not intended for circulation. Proof coinage have their own grade designation of PR. Proof coinage are designated as impaired by showing evidence of wear. Proof coinage can be identified as such after showing signs of wear, e.g. the 1895 Morgan Dollar was, arguably, struck in Proof condition only ( https://www.pcgs.com/coinfacts/coin/1895-1/7330 ), however there are impaired proofs of this date / denomination in existence.

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  • jmlanzafjmlanzaf Posts: 34,610 ✭✭✭✭✭

    What is a "proof coin" proof of?

    Is it possible to pull an "uncirculated coin" from a bank roll since it has clearly circulated?

    If the U.S. Mint employees walk off their jobs, is that a business strike business strike?

    These are the semantic debates that keep us all up at night.

    And why is a nickel mostly copper?

  • CharlotteDudeCharlotteDude Posts: 3,038 ✭✭✭✭✭

    Easy answer: most are, some aren't. Uncirculated implies that the coin never circulated, however some proof coins were used (both intentionally and unintentionally) in commerce. Those that haven't been would be classified as "uncirculated proof". Those that have, such as philographer's and edwardjulio's above, would be considered "circulated proofs".

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  • ashelandasheland Posts: 23,236 ✭✭✭✭✭

    Pretty simple, PF60 and up, uncirculated, PF58 and down circulated in some fashion, although it wasn't intended to circulate

  • CoinscratchCoinscratch Posts: 8,719 ✭✭✭✭✭

    @jmlanzaf said:
    What is a "proof coin" proof of?

    Is it possible to pull an "uncirculated coin" from a bank roll since it has clearly circulated?

    If the U.S. Mint employees walk off their jobs, is that a business strike business strike?

    These are the semantic debates that keep us all up at night.

    And why is a nickel mostly copper?

    If apples are red what color are oranges? I like the term Proof Like - aaahhhhhh.
    https://en.wikipedia.org/wiki/Cupronickel#:~:text=The successful use of cupronickel,with the addition of silver.

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    :)

  • YQQYQQ Posts: 3,314 ✭✭✭✭✭

    Proof is simply the method a coin is struck as.
    The best sharp polished dies without any negative issues on the dies.
    I believe there is usually a limited number allowed to be struck with the die sets before these are changed.
    Proofs are "usually" issued in sets and as such sold to collectors, or given to VIPs as gifts , similar as SP struck coins.
    sets are broken by collectors and hence you find individual Proof struck coins in circulation, raw or graded. depending on wear proof will have grades up to PR 70
    Just saying, and it is MO only.

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  • TreashuntTreashunt Posts: 6,747 ✭✭✭✭✭

    A proof is always a proof, even with wear

    Frank

    BHNC #203

  • 1630Boston1630Boston Posts: 13,787 ✭✭✭✭✭

    Are uncirculated coins made with a special die?

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  • crazyhounddogcrazyhounddog Posts: 13,980 ✭✭✭✭✭

    It depends on how much wear is on the proof coin. A proof Coin is a special strike to produce the surfaces and details it possesses. IF that coin has been circulated, creating wear, it is now a circulated proof coin. Not uncirculated anymore but still a proof coin.

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • LanceNewmanOCCLanceNewmanOCC Posts: 19,999 ✭✭✭✭✭

    when in doubt always go to the definitions or word roots. i've been shocked good and bad by doing this.

    im·paired -

    1. weakened or damaged.
      "an impaired banking system"
      a. affected by alcohol or drugs to the extent of losing control over one's faculties or behavior.
      "impaired driving charges"

    2. having a disability of a specified kind.
      "hearing-impaired children"

    i've done this off and on for years to the betterment of my vocab and usage with much room for improvement. even more so the past several years as social media sites have exploded and the perceivable intelligence (being smart and acting smart are synonymous to me as a goal to aspire to) has gone down.

    hope it helps.

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