This may be sacrilege, but I find that I don't love the cameo effect on proof coins, and am just as happy if not happier to find a blazing high grade proof without much cameo effect (e.g., proof Roosevelt dimes 1950-1964). Am I the only one with a non-cameo preference? Anyone else out there that at least thinks cameo is overrated? Haven't been able to find any threads on this.
I am not a huge fan myself, especially the modern, ultra cameo effect. I find it makes it harder for me to see the design details. I buy BU examples if I want a modern commemorative. I actually like the surface of the collector pucks, I don't know what they call it.
It has been a long time since I dealt regularly in cameo proof material, but I feel qualified to reply. Many cameos undeservedly fetch a very high premium which, if it is the price that prompts your comment, I don't necessarily disagree with you. Cameos are a very specialized area of numismatics, particularly in the 1950's and SMS years. Some combinations of date / denomination are quite common in cameo, even as extremely nice cameos, while others are incredibly rare, even with moderate cameo attributes. Of the coins minted in the years mentioned above, there are at least 2 coins I can think of that I have never seen in what I would consider true deep cameo . . . not in person and not in photographs. Bear in mind though, that the grading services have a tendency to adjust their acceptance criteria, based on their learnings with the passage of time. Before spending strong money on cameos, it would be best to learn a lot about depth of mirrors, frost fade, balance side-to-side, artificial frosting. and which dates are available nice, and which are not. Finally, buying non-returnable cameo proof coins without seeing them in person can be a major disappointment, especially if they are costly. Photographic lighting and post processing techniques can really exaggerate the contrast far beyond what one sees in person.
I'm not a big fan of cameos either. I think prices are a big factor. I have a complete set of Franklin Proof Halves and not 1 cameo, although I do have an NGC 68*, which designates it as a one sided cameo. The price difference can be quite large. I just calculated these differences using Numismedia for a Franklin set; PR65: non-cameo - $1638, cameo - $3846, increase of 235% PR66: non-cameo - $2173, cameo - $8314, increase of 383%
I love early proofs a cameo seated coin or a trade dollar is stunning a toned proof from the 19th c is even more stunning!
For coins minted after 1974, yes, Cameo is overrated. For coins minted from 1973 and earlier, Cameo is highly desirable as it represents the closest thing to "First Strike™" that a coin could get. IMO, the "artificial snakeskin™" cameo effect" of todays modern proofs is exactly equivalent to putting a "sticker" on a coin. In conjunction with Medoramans reply, this artificial pummeling of modern proofs definitely masks some of the finer details which "should" exist on modern proof coins. Poo-Poo.
I love cameo coins, especially Morgans and Barbers. I think they are beautiful and are worth the premium.
And that is kind of the issue for that is that is how the coin was designed, was intended to look. The only coins prior to '73 that have the cameo effect are those struck with new or fairly new dies. That is what sets them apart, that is what makes them scarce, and that is what makes them expensive. Now, should that matter you as a collector ? That depends on what kind of ice cream you like - chocolate or vanilla.
I'm in the love cameo/deep cameo on pre-64 coins camp. Any proof minted today without DCAM is an anamaly. I till love the ASE proof DCAM. I don't collect modern coinage, just the bullion stuff. When looking at pre-64 proofs, I want them with at least CAM and am willing to pay for it.
Try to find a Franklin proof 1950-54 mintage is a lot higher for 1000.00. Graded Cameo. for that price.
For many dates "cameo" correlates closely to brand new dies. I think this is one of the reasons they are sought.