We often buy coins from customers and sometimes pick up some very interesting and rare pieces. Many of these coins mark important historical events, often significant to our country and the monarchy. Here are the benefits of owning proof coins:
What are Proof Coins?
Proof coinage means special early samples of a coin issue, historically made for checking the dies and for archival purposes, but nowadays often struck in greater numbers especially for coin collectors. Nearly all countries have issued proof coinage.
Why might you buy a proof coin?
A Proof Coin is the absolute highest quality coin a mint can produce meaning they have impeccable sharpness and brilliance. If you're a collector or admirer of a particular coin design, these coins are so finely sculptured that extreme details are noticeable. They are undoubtedly the best choice if you want to own or gift a coin with the highest levels of craftsmanship and design detail.
How much extra do proof coins cost?
There are a couple of cost factors when it comes to Proof Coins. The main cost differences come with; how old the proof is, the demand for a particular design, the rarity of it or if it comes with an original Certificate of Authenticity. In addition to this, whenever you are dealing with any kinds of collector coins, you also have to deal with 'grading' rules. This is the coin's condition and also determines the value of your coin. If the grade of that coin is very bad, the value might not be as high as you would like. The more the coins are handled, the higher the likelihood that these coins will get worn down and reduce their value.
Where can you sell your proof coins?
If you have a proof coin, a proof set or a commemorative proof coin to sell, whether in their original mint packaging or graded, Bleyer will be delighted to talk to you. Most bullion dealers will offer you a price for them, but at Bleyer, they offer most of their customers 100% of the Spot price, which is a fantastic deal when compared to other rates. In addition to this, they've known customers who've actually sold their bullion on eBay themselves (thinking they could get more if sold independently) and have received far less than what they wanted, even before the incursion of additional costs like listing fees.
Why do Bleyer sell proof coins at large discounts? Are they worth any less when you come to sell them?
If you look at a Mint's pricing structure (The Royal Mint for example), proof sets and coins are never relative to their gold content, and will generally have a huge markup. Other bullion dealers will also buy proof coins from customers at an average price and mark up the price dramatically on when it comes to selling them due to their 'collective value'.
The reason Bleyer are able to offer customers a larger discount on these coins is that, rather than adding a huge markup on to the price, they like to pass a saving on to their customer without the need for exploiting the sale cost. Additionally, Bleyer's pricing strategy is very different to that of other bullion dealers in that, a thorough price analysis is conducted before the proof coin is listed on the website, ensuring that they are unquestionably the cheapest online! In fact, Bleyer is so confident in this approach that if a customer did find the exact proof item online elsewhere at a cheaper price, Bleyer will price match it. Contact one of our friendly team for a valuation at 01769 618618 or [email protected].
Benefits of owning Proof Coins
- Proof Coins are treated with a special die and resulting in a mirror-like look.
- Proof coins are struck twice (or even more) meaning the detail on design is much higher quality.
- Proofs are usually produced in quantities that are roughly 5-20% of that of their Uncirculated counterparts making them rare and harder to find.