Unlike circulated coins, proof coins were never intended for circulation. Whilst today, it is widely recognised that they are produced purely for the collector’s market, they were originally manufactured as early samples of specific coin issues that would be presented to the Ministry of Finance and the Royal Mint for them to approve prior to circulation.

As coins of the finest quality, proof coins are hugely popular amongst collectors due to their rarity and generally high value. The production process is a meticulous one, with the coins being produced in characteristically small numbers due to the intense level of craftmanship and attention to detail required to carry out the process correctly.

Whilst regular coins are struck once under normal pressure and at high speed, proof coins are struck at least twice, and sometimes up to six times, at a lower speed and under less pressure, in order to preserve the coin’s fine detail and produce exceptionally sharp designs. By striking the coin multiple times, it is left with a brilliant shimmer and level of intricacy that cannot be achieved any other way.

Proof coins are the highest quality coins produced by mints across the world. Their unrivalled finish and intricate designs make them particularly admired by collectors. Many are produced in solid gold or silver and with the recent rise in bullion prices they have been a very good investment for collectors.

There are numerous factors that contribute to the value of proof coin sets, but age and rarity are the two greatest indicators. Since they were originally produced as prototypes, very few proof coins were made and those that were produced generally before 1970, tend to hold a higher value. Pre 20th century examples are even rarer and also carry historical value, so subsequently fetch the highest prices overall at auction. Although proof coins produced in more recent years can still hold a lot of value, it is the historical value of older coins that gives them prestige.

Design is also an important factor to consider, with some designs being rarer and more sought after than others. Furthermore, possessing an original Certificate of Authenticity is highly advantageous when determining the value of a proof coin set, as having verified authenticity will boost its value when you come to sell. This, accompanied with protective casing, will ensure the value of your coin does not diminish due to over-handling and damage.

Here at Sheffield Auction Gallery, we have been lucky enough to sell a number of large collections of proof set coins over the years so if you would like to buy or sell any coins our specialist Valuer Ryan is always happy to help you.