Why?

[Danye West]

Why did the government begin to make proof coins? Was it to keep a preserved model of the coin?

 

Why does the mint now offer 'silver proof sets'? Is it for financial gain?

[19Lyds]

Proof Coins were initially created to "proof" the die designs and/or create special presentation coins as gifts to visiting dignitaries. Extra's were sold to the public by those who knew of their existence. (Kinda like today. )

 

"Public Demand" then created the market to which the US Mint has happily responded.

 

Today, Proof coins, silver or common metals, provide a cash cow for the US Treasury Department and the National Debt.

[Danye West]

Thanks for the explanation. I wonder if the Chinese government will accept proof sets to help pay off our dept. Maybe..

[cpm9ball]

Thanks for the explanation. I wonder if the Chinese government will accept proof sets to help pay off our dept. Maybe..

 

They'll probably just merge your department with another.

 

Chris

[BillJones]

Thanks for the explanation. I wonder if the Chinese government will accept proof sets to help pay off our dept. Maybe..

 

The Chinese are not dumb. By in large modern Proof sets have been terrible investments. Most of them have market values that are below their issue prices years and decades after the U.S. Mint sold them.

[moneyhoney]

You can visit a search engine and put in the same question and you will get some info

[Conder101]

I wonder if the Chinese government will accept proof sets to help pay off our dept. Maybe

Only at face value.

[Danye West]

Thanks for the explanation. I wonder if the Chinese government will accept proof sets to help pay off our dept. Maybe..

 

They'll probably just merge your department with another.

 

Chris

 

Haha! I didn't notice that!

[Danye West]

I wasn't being serious, Bill

[BillJones]

Why did the government begin to make proof coins? Was it to keep a preserved model of the coin?

 

Why does the mint now offer 'silver proof sets'? Is it for financial gain?

 

One of the alternative names for "Proof coins" is "master coins." One of the early purposes of making Proofs was to check out to sell how a coin design looked under ideal circumstances.