The limited edition Tokelau Year of the Horse one-ounce silver coins were first sold in the U.S. by MCM, the exclusive U.S. Distributor. They were designed and produced by Treasures of Oz, a world leader in beautiful, distinctive, high quality collector coins and were minted by the renowned B.H. Mayer's Kunstpraegeastalt GmbH (the Mayer Mint) out of Munich, Germany.
When we received the coins, we immediately began selling them and had some graded by NGC and PCGS. Their stunning beauty and the craftsmanship by which they are made led us to eventually question why they were not classified as 'reverse proof' coins.
In mid-September ModernCoinMart CEO, John Maben, made an inquiry (via the international distributor) to the Mayer Mint about the process they use in treating their dies and blanks for minting these coins. Their response generated an exchange that resulted in the mint officially classifying this issue as a 'reverse proof' issue.
We have received confirmation from the mint that these coins were produced using dies prepared in a very similar method as the reverse proof coinage of the United States, and that they have reclassified the issue as a 'reverse proof' issue in their records. In addition, Certificates of Authenticity which classify the coin as a reverse proof are now available to us.
We have forwarded the official letter we received from the mint to NGC (Numismatic Guaranty Corporation) that states this fact, and NGC has changed their labeling going forward to reflect this development. PCGS has also been notified.
What this means is that NGC has changed the classification on the coin ID numbers to identify the coins as 'reverse proof' coins for the coins that are already graded, and will change the grade annotation on future graded issues to reflect the change.
The maximum mintage will remain at 50,000. If you were lucky enough to buy these before the reclassification, congratulations!
Final note, these are not to be confused with the regular proof issue that was just released and has a tiny mintage of just 2500. We also have these available for sale at the present time.
Hayden Tubbs, Director of International Sales