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Collecting Proof Gold
Gazes
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I am curious about how many people collect classic proof gold (not modern)? The coins are beautiful but very expensive. One reason I ask the question is that for many dates there are only 20-40 minted. And the prices are almost always $20,000 or more. But for coins with such small mintages, I seem to always see a decent amount available in every big auction, certain dealer sites, etc. In other words, for coins with tiny mintages and high prices reflecting rarity, I am surprised how many seem to be available?
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I imagine that people that collect classic proof gold mostly do it by type and are not interested in a date set. The small mintages for individual dates aren't as much in play as the total mintage for the type. If you ignore the dates and assume that mintages correlate to auction appearances, a Type 3 $20 Liberty should show up about as often as an 1856 Flying Eagle cent.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I would assume that not too many people collect them because, like you said, they are expensive and have small mintages. I would assume more collectors would get just one example because they are collecting that series or they just want a older proof coin. When they need to get some cash, they aren't going to sell a coin that is part of their main collection so they go sell the proof.
I have one piece of old Proof gold, an 1883 gold dollar in PCGS PR-65, Cam. I bought because I wanted to have at least old Proof gold piece. The gold Dollars from the late 1880s are the most common old Proof gold pieces with mintages over 1,000. My 1883 was last semi low mintage one at just over 200.
These coins, but the prices keep most us out of the market. I don't care for most lower grade Proof coins so that limits my activities in that market also.
I wouldn't be surprised if the lack of demand for these relates to both the high price of most and the lack of availability of decent looking specimens to collect. The eye appeal of proof coins deteriorates quickly as the grade drops.
Low mintages but high number of survivors as a % versus MS coins...very modest demand...