What are Gold Proof Coins?
Gold Proof Coins are coins which are specially struck for collectors and special occasions. They are not meant for circulation. The blanks from which the coins are made are specially prepared and are polished before being struck by the die. The dies also are specially prepared and polished prior to the strike, giving the coin a special finish.
There are different types of proof coins. Some are produced with a matt finish. Some have a reverse proof finish. The background is matt and the raised design is polished. But most proof coins have the traditional matt design on a highly polished background.
Gold Proof Coins are produced in limited amounts and runs. This makes them even more rare than the uncirculated. This can only improve their value as time marches on. Gold coins are an excellent source of funds in times of economic need, as they can always be sold.
Popular Gold Proof Coins
American Gold Eagle Proofs
American Eagles Gold Proof Coins for 2008 display a classic Augustus Saint-Gaudens design. This figure of Lady Liberty, with full-length, flowing hair, shows her holding a torch in her right hand, and an olive branch in her left. The reverse side of the gold bullion coin designed by sculptor, Miley Busiek, is a special contemporary design honoring the American family. The design shows a male eagle carrying an olive branch flying above a nest containing a female eagle and her newborns.
The collector’s eye will turn to this remaining one-tenth ounce proof coin. The coin is priced at $162.95. Being the smallest, it has always carried the heaviest premium over the price of gold.
Are Gold Proof Coins graded differently than Business Strikes?
There is a mistaken concept of referring Proof to a grade. Proof in fact is not a grade but a designation for coins that have been struck, usually as preproduction samples.Proof is actually a method of manufacture that involve striking coins with care on specially polished planchets and often using multiple blows of the dies. Proofs are produced by the Mint for collectors and are made in limited quantity. On the other hand, Business strikes are not afforded any special care or striking and they are produced for circulation with little thought regarding their appearance or quality. Hence, by their very nature, Proofs should have a “better” appearance than business strikes