I recall being shown two Proof trade dollars dated 1873. One was certified as Proof-60 and was bright and beautiful. It had been dipped sometime in the not too distant past, but even so it was aesthetically pleasing. The other was certified as Proof-63 but was darkly toned and blotchy. In my opinion, the Proof-60 coin was worth double or triple the price of the 63.

Opinion is divided as to whether manufacturing flaws in Proof coins should be mentioned or whether the grade of a Proof coin should be dropped to compensate for this. For example, I recall seeing an 1858 Proof Liberty Seated quarter dollar, which, like numerous other small-denomination Proof silver coins of the period, had a myriad of lint marks in the fields. These lint marks consisted of lines, curlicues, and other depressions in the coin's surface and were made by threads adhering to the die used to strike the piece, residue from an oily rag used to wipe the die. I suggested that an appropriate description would be "Proof-65 with mint-caused lint marks in the field," but the owner of the coin decided to offer it as Proof-63 with no further comment, believing that the coin was worth a Proof-63 price, which it undoubtedly was.

As is the case with Mint State coins, even the experts and the grading services are apt to disagree on their findings. What is Proof-65 to one person may be Proof-66 to another, or vice versa.

Prooflike Coins

Certain business strike coins were made with prooflike surfaces at the various mints, particularly in the 19th century in Philadelphia, Carson City, New Orleans, and San Francisco. These were not made for collectors, but were produced during the ordinary course of business. Such surfaces were caused by striking the pieces from polished dies. In some instances, a new die was given a mirrorlike finish as part of the die manufacturing process. In other instances, dies which had been used extensively were resurfaced by light grinding and then, to eliminate the grinding marks, by polishing.

Coins which exhibit a mixture of frosty mint lustre and prooflike finish are called prooflike (abbreviated PL). Coins which are so prooflike that they almost resemble Philadelphia Mint Proofs are called deep prooflike (abbreviated DPL), or, in a term popularized by Bruce Amspacher, deep mirror prooflike (abbreviated DMPL).