:: WHAT IS A RARE COIN? ::

The United States produces special coins for collectors every year. They are issued in Proof Sets containing all of today's coinage from the penny to the half dollar. Last year the mint produced approximately 30 million "special" proof sets. They are offered for sale by the mint and available at many coin shops. The entire proof set sells for about $15.00 In the early 1800's the US Mint produced a small amount of special presentation coins. They were given to politicians, foreign dignitaries and the heads of the US Mint. They were not available to the public. 1858 was the first year the US Mint offered coins for sale to the public, minting 80 coins of each denomination. They quickly sold out and increased the mintage to 800 coins per denomination in 1859. With increasing demand for "special coins", today's need is about 30,000,000 for each denomination.

:: WHAT IS A CERTIFIED COIN? ::

There are approximately 12 grading companies, but only two of them are accepted universally. Any coin graded by Professional Coin Grading Service or Numismatic Guarantee Corporation can be bought or sold over the telephone by hundreds of coins dealers.

PCGS & NGC has set the industry's standards and have enabled rare coins to be traded similar to stocks or bonds. The coins are encased in a 2 x 3 plastic holder and sealed in airtight capsules thereby protecting the coin from environmental damage, as well as guaranteeing that the coin is the grade you have purchased.

:: WHAT IS THE GRADE OF A COIN? ::

Coins are graded on a scale of 1 - 70. If a coin has never been circulated, it automatically achieves a grade of 60. Perfect coins do not exist, but usually a grade of 65 is considered top-notch.

:: WHAT IS A PROOF COIN? ::

A "proof" is a specimen striking of coinage for presentation, souvenir, exhibition, or for numismatic collectors. Pre-1968 proofs were made only at the Philadelphia Mint except in a few rare instances in which presentation pieces were struck at branch mints. Current proofs are made at San Francisco and West Point.

The term "proof" refers to the method of manufacturing and not the condition of a coin. Regular production coins in mint state have frosty luster, soft details, and minor imperfections. Proof coins can usually be distinguished by their sharpness of detail, high wire edge, and extremely brilliant, mirrorlike surface. All proofs were originally sold by the US Mint at a premium.

:: WHY SHOULD I BUY A PROOF COIN? ::

The U.S. Mint has exact records of how many coins were produced each year. When dealing with proof coins, you always know where you stand.

In the 1960's, one of the rarest silver dollars was the 1904 minted at the New Orleans mint. It was worth several hundreds of dollars. Then a bank released many hundreds of thousands of coins from a vault. The price plummeted to that of a common coin.

This could never happen with a proof coin. They were sold one at a time into coin collections over the last 140 years.
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