Proof coinage refers to special early samples of a coin issue, originally made to check the dies and for archival purposes. Nowadays, proof coins are often made in larger numbers for collectors. Almost all countries have issued proof coinage.
Creating proof coins usually involves polishing the dies. These coins can be distinguished from regular circulation coins by their sharper rims and design, as well as much smoother fields – the blank areas not part of the coin’s design.
Modern proof coins often have parts of the design with a frosted appearance and polished fields with a mirror finish. This effect has also been achieved in the past using sandblasting and other methods. Early 19th-century proof coins may appear scratched, but this was part of the production process. “Proof” refers to the making process, not the coin’s condition. Certification agencies grade proof coins, with PR70 being the highest grade, indicating a perfect example.
Most proof coins are struck twice under higher pressure, which ensures full detail in the design. After being struck, they are handled individually, unlike regular coins which are collected in bins.
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United States Proof Coins
The U.S. largely stopped making proof coins in 1916, but from 1936 to 1942, proof coins could be ordered individually from the U.S. Mint. From 1950, proof coins could only be ordered as complete sets.
From 1950 to 1955, proof sets were packaged in boxes, with each coin sealed in a cellophane bag. In 1955, the packaging was changed to a flat-pack. This continued until 1964, after which the coins were sealed in various hard plastic cases. Proof sets were not made from 1965 to 1967; instead, Special Mint Sets were produced.
Proof sets from 1936 to 1942 and from 1950 to 1972 included the cent, nickel, dime, quarter, and half dollar. Since 1975, the San Francisco Mint has been primarily used for proof coinage, except for certain coins. The sets issued from 1973 to 1981 and from 2000 onward included the dollar. Special proof sets have been released, such as the 1976 Bicentennial set and the 2009 Lincoln Coin & Chronicles set.
Occasionally, errors occur during the Mint’s inspection process, resulting in rare and valuable proof sets. Some proof sets contain coin varieties that are less common and more valuable. Since 1992, proof sets have been made in both silver and base metal. U.S. commemorative and bullion coins are often issued in proof types with different mint marks.
Starting in 1947, the U.S. Mint began producing “mint sets,” which are different from proof sets. Mint sets contain uncirculated coins that are specially packaged and are generally less expensive than proof sets. Some mint sets, however, are highly valued by collectors. The Philadelphia and Denver mints have also sold annual “souvenir sets” since 1973, which are not mint sets and generally have lower collectible value. The public should be aware of the different types of coin sets available and ensure they understand what they are purchasing.
Conclusion
Proof coins are high-quality, collectible coins with sharp details and unique finishes. Originally made in small numbers for quality checks, they are now often produced in larger quantities for collectors. In the U.S., proof coins have shifted from being sold individually to being part of complete sets. Special proof sets and error coins can be particularly valuable. Understanding these differences helps collectors make informed choices.