Proof Coins

The grading of Proof coins in higher levels is similar to that of Mint State coins. An absolutely perfect coin can be judged as Proof-70. A few years ago my company sent several dozen 1953 Proof sets in their original mint packages, never opened, to a leading grading service. The typical grade the experts on their staff assigned to the individual Proof coins was Proof-63. Only a few were designated Proof-65. And yet these coins had never been handled by anyone outside of the mint! During a visit to the San Francisco Mint to watch the preparation of Proof coins there in 1975, I noticed that it was standard procedure for a press operator to stack Proof half dollars on top of each other after they were coined!

Then there is the situation of Matte Proof Lincoln cents of the 1909-1916 era. The Mint stored and sold them in so-called tarnish-proof tissue, which was anything but. The cents soon turned a deep brown or purple-brown color. For this reason any Matte Proof cent of this era with full original red surfaces is a rarity!

Mishandling of a Proof coin after the point of striking is not usually done at the Mint itself but, rather, by purchasers and subsequent owners. Repeated dipping of a Proof coin to make it brilliant will over a period of time produce a cloudy, grainy surface which cannot be restored. Rubbing a Proof coin, even lightly, with a cloth can produce minute hairlines, and cleaning with a paste or substance which is even slightly abrasive can cause severe hairlines. Careless handling of a Proof coin can cause nicks or marks.

Beginning in the 1920s it was popular for collectors to house coins in cardboard album pages with the openings covered with clear slides made of celluloid or other transparent material. Such slides, if brushed against a coin, caused minute parallel scratches, and numerous Barber dimes, quarters, and half dollars, Morgan dollars, and other issues in which the cheek of Miss Liberty is prominent show evidence of such slide marks. A Proof which has numerous hairlines, is cloudy, or which shows abrasions may be a candidate for the Proof-60 designation or even lower.

Terms such as Proof-50 and Proof-55 describe coins originally struck with Proof finish but which later were subjected to friction or even circulation. Proof-60, Proof-61, Proof-62, through Proof-70 describe ascending grades of finer quality Proof issues. An outstanding condition for a 19th-century specimen is apt to be Proof-65, and there are many nice Proof-63 and Proof-64 coins which are highly prized by their owners. Even at the Proof-60 to 62 level, there are many attractive pieces. If you are buying at a lower Proof level such as 60 to 62, be sure to cherrypick carefully. Patience is often rewarded, and perhaps after you examine 20 coins you will find one that is very beautiful, perhaps even with the aesthetic appeal of a Proof-63 or higher coin.