Due to the rate at which trackables go missing, some geocachers will choose to make a proxy instead. The proxy is then sent out into the world, while the original item is kept in the owner's possession. This is done to reduce the chances of the trackable going missing due to theft.
Proxies may be made through different methods. One of the more common methods is a laminated picture of the original item printed on paper. Due to the low cost of making such a proxy, this is often preferred. Another method involves making cheaper wooden or plastic coins, then pasting a picture of the original coin on either side. Some geocachers have gone as far as to order wooden nickels premade with the design on them. There are also some commercially available options that are more expensive but higher quality than hand made versions.
Proxies have met with mixed opinions amongst geocachers. On one side, geocachers value them as a way to keep the concept of trackables alive and highlight the increasing rate of trackables going missing. On the other side, geocachers have felt that they aren't the same and devalue the principle of trackables.