Proof Coin Sets and Uncirculated Coins: What They Are and What They Are Worth

Proof coins are struck specially for collectors from polished dies on polished blanks, often more than once, giving mirror-like fields and frosted, sharp designs. They are sold in capsules, cases or sets with certificates. Proof describes how a coin was made, not its condition, and proofs mark easily if handled.

A reverse proof inverts the usual proof finish: the fields are frosted and the design is mirror bright. The Royal Mint has issued reverse proof sovereigns and other coins for collectors in limited numbers. Like other proofs, they are valued in their original packaging.

Most base-metal proof sets, such as Royal Mint year sets from the 1970s onwards, were made in large numbers and are worth only a little more than face value. Silver and gold proof sets carry their metal value and more, and low-mintage or historic sets are sought by collectors. Condition and packaging matter.

Some are. Royal Mint silver proof sets and silver proof single coins are sterling or fine silver, and United States silver proof sets, as well as US proof sets dated 1964 and earlier, contain 90% silver coins. Standard base-metal proof sets contain no silver. The box, certificate and coin inscriptions tell you which.

A proof set contains one proof example of each coin issued that year. A Royal Mint annual proof set holds the circulating denominations, from the 1p to the two pound coin, often with the year's commemorative coins. United States proof sets hold the cent, nickel, dime, quarter and half dollar, and sometimes the dollar.

Rarely, for modern base-metal sets, which were made in large numbers and often sell for less than their issue price. Silver and gold proofs follow their metal prices as well as collector demand, and historic or low-mintage sets can rise over time. Proof sets are best bought for enjoyment, not as an investment.

It is best not to. Opening a sealed proof set or taking coins out of their capsules exposes them to fingerprints, air and scratches, and removes the packaging collectors pay for, which lowers value. If a coin must be handled, wear cotton gloves and hold it by the edge only.

Uncirculated means a coin has never been used in change, so it shows no wear, though it may have small marks from contact with other coins at the mint. Brilliant uncirculated, or BU, is a better finish sold in packs, struck with care and showing full mint lustre. Proof is a higher finish again.

Yes, for collectors: an uncirculated coin is worth more than a worn example of the same coin, sometimes much more for older dates. For modern coins struck in millions, the difference is small. Rare dates in uncirculated condition, with full lustre and no marks, command the highest prices.

Yes. Uncirculated and brilliant uncirculated coins of current denominations are legal tender for their face value, but spending them gives up any collector value and the pack. Commemorative five pound coins are legal tender but rarely accepted in shops. Sell or keep them instead.

Keep them in their original capsules, packs and boxes, somewhere dry and at a steady temperature, away from damp, sunlight and household chemicals. Avoid soft PVC holders, which leave residue. Keep certificates with their coins, because sets without them are worth less.

The 1986 United States Statue of Liberty commemorative coins marked the statue's centenary: a clad half dollar, a 90% silver dollar and a gold five dollar coin, sold in proof and uncirculated versions. The silver and gold coins carry their metal value; the half dollar is base metal.

Photograph each set closed and open, with its certificate, and send the photos for a free valuation. Gold and silver proofs and better sets are worth selling individually; common base-metal sets sell best as a collection. We buy gold and silver proofs and sets, pay the same day by bank transfer, and offer insured postage.

Coin dealers, auction houses and collectors buy proof sets. Dealers pay most readily for silver and gold proofs and historic sets; common modern base-metal sets have a small market. We buy gold and silver proofs, sovereign sets and collections, and value them free from photos.

Enhanced uncirculated is a United States Mint finish that combines frosted and brilliant areas on an uncirculated coin to highlight parts of the design, used on some special sets and silver Eagles. It sits between standard uncirculated and proof finishes.