[nfbwatlk] Uncirculated and Proof

[Nightingale, Noel]

the below post is more information to help in the decision-making process about the issue of whether to purchase a proof or uncirculated  commemorative coin celebrating the anniversary of Louis Braille's Birth.

Noel
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From: brl-coordinators-bounces at nfbnet.org [mailto:brl-coordinators-bounces at nfbnet.org] On Behalf Of Dick Davis
Sent: Thursday, March 12, 2009 5:22 PM
To: 'Braille Readers are Leaders contest support list'
Subject: Re: [Brl-coordinators] Uncirculated and Proof

Ryan,

I'm a coin collector, and I've never heard anything about a coin losing value after it has been touched.

The uncirculated ones come out in what is called "brilliant uncirculated" (MS 60) condition.  If you scratch them, get fingerprints on them, clean them with silver cleaner (which scratches them), or do anything else that changes their mint condition, they will drop to "almost uncirculated" (AU) condition and be worth a lot less.  The oil on a person's hands is corrosive enough that after a time, fingerprints will become etched into the coin and impossible to remove.

So if you want to touch them, touch them all you want, then clean them immediately after with a smooth, lint free cotton cloth, water, and a little mild dishwashing detergent.  (Distilled water is best, as it has no minerals in it.  It costs about $1.00 a gallon and you can use it in your clothes iron.)  Rinse them off good afterward.  Do not rub them: pat them dry, and let them air dry on a soft cloth after that.  Some collectors use white cotton gloves to handle their coins, as it protects the coins from their fingerprints.  If you handle coins, always do it over something soft.  If you drop them, they dent or scratch easily.

One thing I can add about proof coins.  They look completely different from brilliant uncirculated ones.  The image is frosted and the background is like a mirror, so there is a dramatic contrast.  If you handle these, make doubly sure that you get any fingerprints, dirt, etc. off, as they will really show up on the mirror finish.  Don't forget to clean the edges.  Scratches really show up on them too, so be careful handling them.  I don't think proof coins are necessarily more collectible than brilliant uncirculated ones.  Some people don't like proof coins.

It is possible to increase a coin's value quite a bit by sending it in to one of the grading services, NGC or PCGS, which will assign a grade to it, register it, and place it in a plastic slab.  MS 70 (perfect) is the highest grade and worth a lot: if you get one of those, hold onto it.  MS 69 (almost perfect) is valuable too, but a lot less valuable.  Brilliant uncirculated is MS 60, and there are other grades in between.  Once a coin is in a slab, you can't touch it without breaking the slab, which wipes out much of its value.  Grading costs around $15.00 if time is not important: the cost goes up depending on how soon you want it back.

You can buy plastic covers at any coin shop and put your coins in them if you want a cheaper solution and want to look at them from time to time.  That's what I do.  (Note: avoid PVC plastic: it turns coins green.)  The mint boxes are also a good way to store them: they are really quite beautiful, as you will see when you get your coin.

I'm sure this is far more information than any of you ever wanted to know, but it's important if you want to preserve or increase your coin's value.  Since I am only a collector and not an expert, there may be other people on this list who can give you far better information.

Dick Davis

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From: brl-coordinators-bounces at nfbnet.org [mailto:brl-coordinators-bounces at nfbnet.org] On Behalf Of Ryan Strunk
Sent: Thursday, March 12, 2009 6:17 PM
To: 'Braille Readers are Leaders contest support list'
Subject: [Brl-coordinators] Uncirculated and Proof

Difference between proof and uncirculated coin

The proof coin is double stamped, if not more, and is made from a different blank than the uncirculated version. This means that the proof's image will be sharper and the coin itself will be shinier.

If you are purchasing a coin as a collectible item, you will want to purchase the proof. If you are purchasing the coin and intend to remove it from it's packaging to feel the Braille, you  will want to purchase the uncirculated coin. If you are interested in doing both of these things, you will  want to purchase both as collectible coins lose their value once they have been touched.