What are "Proof" Coins & are they better than bullion? | Proof Silver & Gold Greyhound of Richmond

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What are Proof Coins and are they any good? | White Greyhound of Richmond Proof Gold and Silver from The Royal Mint
What are "proof" coins and what makes them different to Bullion coins. Today we unbox and review some proof coins from The Royal Mint - the Queen's Beasts 1 oz silver and 1/4 oz Gold White Greyhound of Richmond coins.
These beautiful 2021 one ounce silver coin and 1/4 oz gold coin featuring the White Greyhound of Richmond is the Ninth, coin in the popular "Queen's Beasts" Proof series from the Royal Mint. These coins are based on the ten statues which stood guard outside Westminster Abbey for the Queen's Coronation in 1953. They were originally sculpted by J.Woodford RA in 1953 and represent the various houses in the Queen's ancestry.
The White Greyhound comes to the Queen as the badge of John of Gaunt, the Duke of Lancaster and Earl of Richmond, who was the father of Henry IV. It represents honour and has associations with the north of England and with the Celtic Britons. As in the original statue, the greyhound bears a shield with the Tudor Rose ensigned by a Royal Crown.
The Queen's Beasts statues are still standing, but are currently housed at the Canadian Museum of History in Quebec. Stone replicas can be found at Kew Gardens.
The coin contains two ounce of fine silver with a nominal value of £5 and the Gold a nominal value of £100. Just like other British currency, this coin is exempt from Capital Gains Tax. Like all coins in this series, both the obverse and reverse are designed by the Royal Mint's Jody Clark.
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22 июл 2024

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Комментарии : 111

@VerticalStacker 3 года назад

A very good video about some differences between proof coins and bullion. Also, why a collector or stacker might want one over the other. Thank you for sharing this information! The queensbeast series really is a nice series.

@OgKingMC 3 года назад

Such a good close up ! great video. BYB rambling society :)

@ChrisEdward94 2 месяца назад

great video. I was able to pick up the queens beasts lion coin and full set from the facebook groups for about 5% over spot not too long ago. :D

@Jesse_Dawg 2 года назад

I like this type of analysis video. Please make more like this

@jbullionaire2749 3 года назад

I do love a proof coin, especially when you get it for bullion price (on the secondary market obviously). Win Win!

@ocultimastacking6654 3 года назад

Omg beautiful looking proof coins ever!!! :D

@chrissummerfield9583 3 года назад

Great one again byb .

@BackyardBullion 3 года назад

Thanks my friend!

@AlohaStacker 3 года назад

As a stacker first I go the cheapest since the metal contained is the same! If I can get a proof for BU price I would take it too! I think Proofs are more collectors! 🇬🇧🤙🏼

@davidmartin2957 3 года назад

Love it “you can have a pause/ paws sneaky one.

@heidigib01 3 года назад

I’m with you, the series is amazing especially the mirror finish background. Gorgeous! If I can afford to get the coin I love to collect, then I can afford a proof if buying new. Right now I can’t afford it, and just getting into this, I doubt I will be getting them soon, but it’s best to set your Barr high I suppose. Regarding packaging, if that’s just the sleeve, isn’t that the point, if anything is damaged it will be shipping sleeve not the box?

@felicianoiii2664 3 года назад

Absolutely love this video Great explanation of the difference of proofs and bullion for someone like me who is a beginner in this remarkable hobby Thanks from Kissimmee Florida 👍🏽

@BackyardBullion 3 года назад

Thanks very much for the kind feedback, I'm glad you enjoyed the video!

@felicianoiii2664 3 года назад

Backyard Bullion Absolutely

@jimtalbott2095 3 года назад

I pay the exact same price for gold eagle proofs as I do for bu, shiny doesn’t mean more, an oz is an oz

@robclads3404 3 года назад

i agree about the packaging, one of the most expensive places to buy as well and they cheap out on the packing

@romanbrough 3 года назад

I am indifferent to proof coins. I would never pay more for them. That being said, when the dealer had loads of coins, I would always choose the oldest and least worn. I did recently get a discount on one coin that had been scratched. But there is still a real shortage of actual shiny metal. More buyers than sellers.

@dleetr Месяц назад

lol, four hundred and eighty pounds for that proof. Lovely thing. i always liked that greyhound design. One day i'll get the ten ounce silver. It was never a popular design (even if I know better than the average punter), so it still doesn't go for much above spot. It's funny how the design speaks to me, even though i'm not a dog person. But there you are. Something statuesque about the greyhound.

@heidigib01 3 года назад

Great timing, I was just wondering

@BackyardBullion 3 года назад

Glad to hear it was of help!

@mikeb3811 3 года назад

Hey BYB, Im new to this. I bought a couple 1 oz bullion coins the other day, really happy with them. However, I am a collector at heart, but want to be able to handle the actual coins, so which coin is best for me?

@SovereignSaurus 3 года назад

Great video and very informative, for me personally I prefer bullion coins but have picked up a few proof sovereigns because the prices were very similar to the bullion price. I'd probably look to sell and buy more weight in 'standard' coins

@BackyardBullion 3 года назад

Thanks for the feedback and for stopping by and commenting!

@Mosti7 3 года назад

ive seen proof 1 oz gold queens beasts boxes sell for 300$+ just for the box so everything matters you are completely right!

@BackyardBullion 3 года назад

Yeah, those are like hen's teeth!

@shashankgolikeri132 3 года назад

Very enjoyable IFF. The design on the proof version is very nice indeed. The greyhound stands out much better against a plain mirrored background. I'm trying to imagine that in the full ounce size, gold. Some of the 'purists' among numismatists say proof is best, better than plain bullion, because the aesthetics makes for a more beautiful coin. And they may well be right. Proof coins are valued higher and cost a lot more. Btw did you actually receive your gold bullion coin in a flimsy plastic bag? RM sent you for review that same in a capsule, didn't they? Now to await the drinks coaster. And the set will all be set. Thanks for tonight's episode. I'm always very happy when there's gold to behold.

@BackyardBullion 3 года назад

Thanks my friend, the RM sent me the 1 Oz gold coin in that plastic bag. I just put it in the capsule for the purpose of the video last week. Proofs coins are the creme de la crème of coins in my opinion and will always hold the best attention of collectors.

@HifiCentret 3 года назад

Which is best? The one you treasure the most! Ultimately it comes down to whether you're a collector or a stacker. Sure everybody is probably a combination both to some degree. And that is perfectly fine! As long as you can distinguish between whether you buy a coin for collecting or a coin for the metal. I believe that many people fall victim of the collectors trap. They might start out as wanting to buy gold or silver coins and perhaps find it a bit hard to find a seller that they trust. Then there's all these offerings and then people urge out to them in full confident that if (when) gold goes up so does these coins. Sure but often when gold goes up collectors value goes down and over all it has been a bad buy unless you're keeping for 50 years and perhaps even not then. Back in the 70s (late 60s to early 80s) - in Scandinavia at least - there was a boom of medalions for just about every imagineable event and if none then there was the country's medallion of the year. Typically made in both bronze and silver and some of them even also in gold and platinum although gold and platinum are quite rare to stumble upon (think most has been melted by now). They where not cheap back then (so I'm told) but today it's not uncommon stumbling upon the silver versions for scrap value - I happily buy those. Fun to stack and mostly they're very high relief really beautiful pieces of art compared to modern boring coin like medals. I'm sure that one day they'll regain collectors value - but when is anybody's guess. If not they're not at all hard to sell for silver value and since I bought most for scrap value makes them a great buy - and fun too! The bronze versions even though also quite limited when looking at absolute numbers (typically like 3000 pieces, 1500 pieces for silver) the non pm versions mostly goes for literally pennies - just about zero collectors value at the moment even though they're also true pieces of art. I buy the bronze version of those I also have the silver version of. That said I do once in a while buy collectors coins that I like and what I think will have potential but far from all of them. That's the difference in stacking and investing in art pieces. Stacking is about the metal and art pieces is about collectors value and there's a very huge difference between these two "investments"!! (that said I do handle my bullion with care. Nice samples are easier to resell and will probably fetch a little higher premiums as well even though it's nowhere near what you'd expect for collectors items)

@jerrystringer9593 3 года назад

I to to love proof coins. I have the complete set of American eagle oz silvers from 1986 to 2020.

@jasondeleon2457 3 года назад

I like the box. I wonder if they or some other company produce display box or case also for graded coins.

@Matter_C 3 года назад

Just ordered my first proof coins, fractional gold to dip my toe! Thanks for the video.

@BackyardBullion 3 года назад

Nice!!

@2509baller 3 года назад

If you had a choice of the entire series of America the beautiful 5 oz proofs or its equivalent of 250 oz of 2020 silver eagles , what would you choose?

@QoraxAudio 2 месяца назад

There are coin collectors and gold collectors. Two very different target audiences requiring two very different products!

@bala8oo 3 года назад

Proofs are keepers, whereas bullion is to sell. I think all precious metal coins look amazing so I’m not too bothered about buying proofs just yet

@syovar1 3 года назад

I located some proof coins which were literally less than a bullion style coin. I still cannot figure out why a proof coin was less costly.

@silverstallion4634 3 года назад

What's up backyard bullion silver Stallion here

@BackyardBullion 3 года назад

Howdy my friend!

@alanhorswill6541 3 года назад

Just ask the royal mint for a replacement box. They will surely have spares. When procuring packaging and printing you always order an excess as the additional cost is minimal.

@BackyardBullion 3 года назад

Hopefully they will have a spare!

@Silverado_UK 3 года назад

They are good looking coins. At the moment I have only bought silver bullion 2oz, but quarter ounce in gold is a temptation;-)

@BackyardBullion 3 года назад

The 1/4 gold is a lovely size

@AUTUMN-DARK 3 года назад

Been really curious about this so thank you.. I'll watch a couple of times to let the info sink in... I could see myself purchasing a small collection of fine silver proofs if I stumble across a set I love but for purely financial reasons I think I'd stick to bullion for gold... A lot of the proof sets I'd seen thus far were not indeed fine silver or even precious metals at all so I had been turned off that idea and actually assumed the proof sets of britannias or sovereign etc were just very expensive plated coins so this info is once again valuable... Quick question if I may... Do you have a recommendation for a UK based coin capsule seller?... I am specifically looking for airtight capsules for 1/4 oz gold britannia but not the foam insert type.. Actually snug fitting capsule with no rattle etc?... And one last question 😬🙏... I recent saw a vid of yours mentioning some boxes but I could not find the link you mentioned... Any suggestions for such a thing still? Would like an attractive tray box for the 1/4 oz gold britannias...

@BackyardBullion 3 года назад

Glad you got something from the video, feel free to watch it over and over! I would certainly go for precious metals proof coins over non precious metal. As far as capsules go, your best bet is actually somewhere like eBay - just look up the dimensions of the coin in question and then have a look at what is out there, most that dont have the foam are pretty good.

@AUTUMN-DARK 3 года назад

@@BackyardBullion thanks 😊

@BackyardBullion 3 года назад

Pleasure

@SWFLtreasures 3 года назад

The 1 oz gold QB proofs are SO hard to find! Looking for a unicorn and griffin here in the US

@BackyardBullion 3 года назад

Yeah, they have very small mintages.

@SWFLtreasures 3 года назад

@@BackyardBullion Seen any listings lately? Highly interested.

@womblestacker7993 3 года назад

Nice

@BackyardBullion 3 года назад

Thanks my friend!

@Review-This 2 года назад

So the only way to tell if a queen is a proof coin is it it’s a much clearer image?

@listen2meokidoki264 3 года назад

In Australia Proof coins are subject to 10% GST (sales tax). And CGT (Capital Gains tax) unless bought for personal use OR enjoyment for under $500.01 each. So a regular bullion coin avoids GST. Unless I'm completely or partly wrong.

@BackyardBullion 3 года назад

Wow, interesting - thanks for sharing!

@listen2meokidoki264 3 года назад

@@BackyardBullion Forgot to add, no sales tax on bullion coins. Proofing is value added, so gets taxed.

@RockHudrock 3 года назад

I like the look of the QBs in regular BU. The “proof” ones look a bit too boring. Almost like private rounds. 🥱😴

@AgSmithsilversmith 3 года назад

I wonder when the ideal time will be to sell them. Will the series be seen as a classic in the future and grow in premium or will it just be a forgotten set worth intrinsic metal value

@BackyardBullion 3 года назад

It will be a hard one to judge, the honest answer is I have no clue. Many different scenarios could play out!

@AgSmithsilversmith 3 года назад

@@BackyardBullion there aren't too many coins outside of the sovereign range that do well in the long run, I think the best time to sell will be on the release of the Griffin, but that doesn't give you time to enjoy them, so I'd hold them and not see them as an investment

@1betterthan 3 года назад

I think outer box to a proof coin should be 100% in mint condition with know cracks or blemishes, after all we are paying top dollar for these coins..

@BackyardBullion 3 года назад

I agree, it is really important.

@taggie_ 3 года назад

I am surprised to see such issues! I buy from the Royal Canadian Mint and have never been so disgusted by such handling. A shame that this is what you have to deal with.

@samaelgames1217 3 года назад

Recent drop in prices made me think about getting some silver from european mint. Britannia (advertised .999 silver) VS Kangaroo's (advertised .9999 silver) for the same price, which one would you go for?

@BackyardBullion 3 года назад

If you live in the UK then Britannias have capital gains tax exemption which could be useful one day.

@samaelgames1217 3 года назад

@@BackyardBullion Belgium, so, yeah, we're kinda in the same boat regarding taxes. I think I'll go for britannia's to start my silver stacking. Kangaroo's are often the cheapest option, don't know why, so i'll jump on these sweet brit's while they're at the same level.

@mikedolman1065 2 года назад

How is this quater heavier than half

@Vqrdict 3 года назад

Would you recommend buying proofs or bullion as a long term investment? Do the proofs gain value a lot better?

@BackyardBullion 3 года назад

I would say bullion for the long term, only 1 in 100 proofs will gain good value over time

@Vqrdict 3 года назад

Backyard Bullion why is that? You would expect the more perfect coin to do better and hold its value, I love the Queens beast collection, I wish I knew about solver earlier so I could have collected them, 10oz only though, prefer the bigger couns

@BackyardBullion 3 года назад

Because you are often paying double spot price for something very specific that has a tiny market of interested buyers that only have interest for a limited time and once those buyers have their product they won't buy again, so holding for a long time will mean only a very few proof coins will actually still be desirable or profitable

@ravensnflies8167 3 года назад

what do you think of melting bullion down to break into smaller amounts? when the shtf, not everything will be an ounce of silver or more... we will need to break our stashes down to smaller increments.

@BackyardBullion 3 года назад

I think it is not something we will ever have to worry about but if it was a situation then chopping them up with tools will be better than melting.

@ravensnflies8167 3 года назад

@@BackyardBullion then we would eventually wind up with a sack of little tiny bits o silver or gold dust and would have to carry around a scale. not very practical. damn i wish we could just use silver as a standard of currency and cut these rich debt brokers out of the picture already.

@bigsmurff55 3 года назад

I bet they have spare cardboard outers. Try writing to them see if they will just replace the outer.

@BackyardBullion 3 года назад

Maybe so

@ericdawson845 3 года назад

Or if you look at buying a set of gold 1 oz. proofs versus a nice set of gold unc. "bullion" pieces, there is a HUGE difference. Perhaps almost 10k pounds. I have a set of unc. 1 oz bullions and they are grand - hand picked and of excellent quality and very PL quality....

@BackyardBullion 3 года назад

Thanks for the info

@davidmartin2957 3 года назад

You said no to grading numi will be giving you a written warning lol.

@BackyardBullion 3 года назад

Ha, yeah probably 😉😉

@RockHudrock 3 года назад

😆

@ocultimastacking6654 3 года назад

Hit like button!! ^w^

@beecee5162 3 года назад

I assumed the excess mintage of 10 this year was for the Trial of the Pyx or potentially even NGC grading (since RM has teamed up with NGC). This is the first year I've noticed the maximum coin mintage being higher than the limited presentation. As far as I'm aware, for every previous release these numbers have been the same and there hasn't been excess coins minted above the limited presentation.

@markbass354 3 года назад

BYB I THINK THE QUEEN'S BEAST IS THE ONLY SERIES WHERE THE BU COIN LOOKS BETTER THAN THE PROOF

@BackyardBullion 3 года назад

Fair enough my friend, personally I think the proofs are lovely, but it's each to their own!

@markbass354 3 года назад

@@BackyardBullion YES SIR ALL ARE LOVELY AND A GREAT SERIES

@meteoman7958 3 года назад

I feel the same way, Mark.

@markbass354 3 года назад

@@meteoman7958 COOL

@jamiebishop9512 2 года назад

I’ve had some shocking damage on coins received from the royal mint. Honestly shocking

@ngantnier 3 года назад

I just prefer the look of bullion coins. Proofs tend to have a harsh overly sharp look to me.

@harryzero1566 3 года назад

There might be alot of differing opinions, I just don't have one view either way. You have your fiat currency and you make a choice. BTW, why would anyone display their gold.

@BackyardBullion 3 года назад

Each to their own - some people like to display these kind of things!

@donsmith7138 3 года назад

Looks like the display case is very nice 👍 your are a little picky on the outside case. Nevertheless beautiful coin

@BackyardBullion 3 года назад

I am being picky, yes. But it is important to me. Thanks for stopping by and commenting!

@grahampitchy8691 3 года назад

Presentation proof coins look nice but at the end of the day the value is in the gold content surely whether it's a little marked or not. Why pay £200.00 more for a bit of timber and cardboard. I may be wrong but that's my opinion anyway!

@BackyardBullion 3 года назад

I think there is a balance for some issues. There is a lot to be said for a very perfect specimen of a coin.

@grahampitchy8691 3 года назад

@@BackyardBullion You are definitely right my friend, but do people need to pay so much more just for the surrounding material? I would be more than happy buying a 100% flawless gold coin on it's own.

@2phil4u 2 года назад

I have proof coins worth 30 dollar per ounce and bu worth 60 or more.

@wayawolf1967 Год назад

10% of the value was lost in the packaging so it seems.

@marknordgard1916 3 года назад

Gold is gold silver is silver , proof or not

@BackyardBullion 3 года назад

Yes, but there is a collectors market to consider too.

@mikedolman1065 2 года назад

That's a half not quater as quater is only 2g

@hunterguillory9231 3 года назад

whats up back yard bullion!! thanks so much for your content, i love consuming!! Crypto_Union here just stopping by to show some love

@BackyardBullion 3 года назад

Thanks my friend, appreciate the comment and support!

@RobBoon1967 Год назад

More money than sense

@yvettesilver2522 3 года назад

Great looking coins.! btw-someone needs to clean their nails

@BackyardBullion 3 года назад

I work with my hands on a daily basis, they are as good as they can be. Sorry!

@harryzero1566 3 года назад

@@BackyardBullion A craftsman would be foolish to spend time and currency having a manicure.

@BackyardBullion 3 года назад

To be honest, my nails are no where near as dirty as they could/have been in the past. I know some people wont like it but to be honest I am past caring.

@beverleysmith3629 3 года назад

@@BackyardBullion The video is not about nails, it is about proof coins, take no notice, you are doing a good job by teaching us about proof coins. Thank you.