What Is a Silver Proof Coin?

Features

• The dies for a proof coin are polished much more vigorously than dies for regular coins. This gives the proof coin its reflective quality. The high points on the coin are treated with acid to give them the frosted look. The silver coin blanks are also specially polished and picked for their high quality. The dies stamp the silver coin blanks two or more times to provide extra crisp detail. Ordinary coins are only stamped once.

History

• The history of silver proof coins dates back the 1850s. The United States Mint created pattern coins for demonstration purposes. These silver proof coins were never intended for circulation or collection. The U.S. Mint made occasional proof coins in the years that followed and sold them for slightly more than face value. In 1936 the U.S. Mint started selling proof sets for each year. The cent was made mostly from copper, the nickel mostly of nickel, and the dime, quarter and half dollar from silver. The U.S. Mint stopped making proof sets between 1943 and 1950. They are still produced and sold today.

Time Frame

• Proof sets are one of the most popular types of numismatic collectibles. Many people buy proof sets to commemorate a special year like the birth of a child, a graduation or a wedding. Others collect a proof set every year. In 1965, the U.S. Mint stopped making dimes, quarters and half dollars out of silver. They changed to a copper-nickel alloy. In 1992, the U.S. Mint began offering special silver proof sets to collectors. They are sold at a premium and feature dimes, nickels and half dollars made of silver.

Types

• There are many types of silver proof coins other than those in proof sets. In 1986, the U.S. Mint started selling 1 oz. silver proof bullion coins. They are sold as collectibles and as a way to invest in silver. They are not legal tender. Mints around the world produce similar coins as well as special commemorative silver proof coins. These are often used to commemorate a special event, cause, person or anniversary.

Misconceptions

• Many coins that are shiny and reflective are thought to be proof coins. These are usually specimens made in the early stages of the minting cycle when the dies are fresh and new. These are not proof coins regardless of their condition. "Proof" refers to the process used to create the coin. If it was not made with the special proof dies and stamped at least twice, it is not a proof coin. Even a poor quality circulated proof coin is still considered a proof coin.