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Has anyone ever purchased what was thought to be uncirculated yet turned out to be a rare proof?
abcde12345
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I see coins on eBay every now and then that look proof yet am afraid to pull the trigger. Has there been success stories of those buying a 'common' uncirculated coin that turned out to be a rare proof?
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For me it has only been indian cents. Had a 1904 I sent to PCGS as an UNC, came back proof. Other was a major win that I still have 1909 Indian Cent bought as a Gem BU RB raw for around 150$, graded PCGS PR66RB. That one I thought could grade either unc or pr.
Aftrd5433, never let fear hold you back. As my great-grandma told me, " Only the brave made it....... the cowards never got started. " HO FOR CALIFORNIA!
I have a few matte proof Buffalo nickels that I cherried as circulation strikes.
I’ve turned down some supposedly rare business strikes that I was pretty sure were the less valuable Proofs.
I once bought a 1938 nickel at a show labeled as uncirculated that was actually a proof. I checked every box that dealer had looking for more but came up empty.
Sean Reynolds
"Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
Well, I bought this one as a proof (PR66 gold CAC) and thought it might be a rare uncirculated:
It certainly has some business strike characteristics. But Somebody-Who-Knows set me straight.
There are 10 types of people in the world, those who understand binary and those who do not.
I bought an NGC AU details cleaned Trade dollar and it became a PCGS PF58. Yes, I knew it was a Proof when I bought it and was surprised NGC didn't!
I bought an 1874 Trade $ off eBay that was listed as a regular business strike that was a proof. (700 minted vs. 987,800)
It would not grade at PCGS due to questionable color so I eventually sold it for a decent profit.
I bought a 1904 dollar off eBay as a polished UNC that was actually proof. Not knowing it was a proof at the time, I tried to sell it on the BST in a batch of other dollars for a bit over melt (with pictures) and got no takers.
Later, someone posted a thread with an impaired proof morgan and I thought, that looks familiar! Sure enough, PCGS ended up grading mine PR61. Back it went on the BST for a slightly different price and then sold.
So I guess I cherry picked myself on that one.
What are some of the key diagnostics for determining a proof coin, Edges, ???
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That's one of them. Strike and wider than normal rims are a couple more.
I found a 1942 quarter on eBay that was listed as UNC but was definitely a proof. It was discovered in an enormous safe inside a 200 year old pottery store, and the seller was a wonderful numismatist by the name of "Big Al"...
I made a modest bid on the coin, but the auction was won by some other lucky person....
It was a non US coin, but it was slabbed as an MS and for sale on eBay. Once in hand it clearly wasn't (though I'm sure it was submitted that way as the proofs are quite scarce)...and very unlike the usual strike--frosted/mirror fields. Sent it in for review and came back the proof.
Edited because I found my BluCC photo of it:
I bought an NGC graded 1876 Type 1/1 MS62 Prooflike on Ebay that was clearly a proof. PCGS agreed and it is now a PR62...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
I bought an odd looking 1950 quarter in Las Vegas at a show for $12. Sent it in and it graded PR65.
Bought this one for a buck as a circ strike. It's a proof.
Not me, but a friend bought an 1841 Seated $1 in VF-XF once upon a time that turned out to be a proof when he got the Osburn-Cushing book and looked it up.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Now, I didn't buy this one, but after 20+ years of being married to me, hubs decided to say 'hey did I ever show you the trade dollars from my grandfather's sdb?'. Um, no. No you didn't spouse. And he pulls this out.
It's cleaned and AU (edited add, more properly an 'impaired proof' I suppose), but still. Sent it to PCGS via an intermediary and will need to look up the cert number (I don't recall if there was a beauty shot done, which would be nice as this was a quick and dirty photo prior to mailing off). So, an unexpected proof, but oh well. Someone, somewhere might want it someday. In the meantime it's safely stuck in PCGS plastic so it wouldn't get even more neglected.
In September of 2019 I purchased a so-called uncirculated fully struck 1936 buffalo nickel from a big-time dealer on eBay
and got it slabbed by ICG as PR-62 the satin finish variety. From 2014 to 2017 Also from eBay I purchased the following buffalo nickels as uncirculated that turned out to be proofs -- 1913 type one, 1915, 1916, and a second 1936 satin finish.
These last four proofs were slabbed by pcgs as pr64, pr64, pr65, and pr64. And a few years prior to these last four
I got a nice 1913 type two called uncirculated that slabbed out as a PR63.
And many years prior to that I got another 1913 type one, two 1913 type twos, and another 1915. I remember the
1915 slabbing out as a PR61 by NGC. So far the only ones I have not been able to find are the 1914, 1936 brilliant, and
the 1937 brilliant variations. I think it would be nearly impossible to pick a 1936 or 1937 brilliant proof.
So the long and the short of it is keep on looking! You never know what you might run into next!!
One more nice coin I got unattributed from eBay was a 1913 type one three and one half legged buffalo in unc60.
a.k.a "The BUFFINATOR"
Great stories...
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never had that happen. maybe one day it will
Just last month!
Years ago, my purchase went the other way.
I bought what I thought was a nice MS 1885 nickel. It turned out to be a proof.
I blew it off and took my lumps. Never did acquire a nice '85........
Years ago I bought a raw 1888 Morgan that was listed as UNC MS, it was a proof 63. Don't think I still have pics but will take a look and post if I find.
bob
I once paid way over catalog ($2) for a pair of 1958 Icelandic 10 aurar because it's a better date and they were so Gem. They turned out to be proofs with a mintage of around 10.
There's little demand so it's not quite the bargain they seem.
I cherried a PR55 or so 1937 15 years ago on ebay.
A few years ago, I purchased a Morgan that was described as DMPL at our local B&M weekly bid board. Submitted it to our host, results was proof 63 cameo !!!
Wasnt a major rarity but ive been able to pick pf war nickels out of the 3$ dollar junk bin before.
About 5 or 6 years ago I purchased this 1890 Liberty Seated Dime for $32 on Ebay and had it conserved and sold the proof for $300. Not to say it was rare, but certainly a rare occurrence to me.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
congrats! Koyneqwest. That has to be an extremely rare occurrence getting a brilliant proof 1936-1937 buffalo as an MS
coin, wondering if it may have been toned to hide the lustre somewhat?
a.k.a "The BUFFINATOR"
I think a bad picture may have been a factor.
I believe the answer is yes. Someone has done that.
It happens especial on smaller denominations when they used same dies for proof coins then circulated. It can also go the other way too.
Best place to buy !
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