Im having a hard time judging the color but i think it is red. Im gonna cherrypick one on ebay someday. Although if i do i dont think i could collect another coin cause nothing would be able to top it.
This is somewhat of a myth. Proof coins were struck with extra care, and not necessarily struck twice. This could be an issued proof, a rejected proof that ended up in circulation (assuming, for the moment they did that with Lincolns then), or a business strike made with proof dies. If PCGS doesn't call it a proof, show it to John Dannreuther at the next major show.
I think a lot of them ended up in circulation. This was an unusual proof. Proof coins prior to this were reflective and looked like proofs. These did not. And among the few collectors that were around then, most i assume didn't find these very attractive. Now think, when these coins were passed on in collections, many of those recipients didnt know these were proofs and/or couldnt tell the difference between these and circulation strikes. Take into account the great depression where I believe a lot of coins probably made their way into circulation, it isnt hard to fathom that many matte proofs may have been spent, only to end up in jars or bags along with thousands more circulation strikes. I know I take extra time and look at all philly Lincolns between 1909 and 1916. Problem is how do you tell when all the markers could be worn away. Here is the most well known circulated matte proof that i know of: 1916 PF58 Not mine. Courtesy of PCGS
Cool! Look forward to hearing the grade from PCGS when you get it back. I would have sent it in to PCGS Restoration though... if you look really close at the photos that were posted, there are a few minor spots. Not sure if they're really on the coin and permanent, or just some dirtiness that can be easily removed. Also, the surfaces just look a little dirty and slightly hazy when looking really close. With these matte proof cents the look (and the grade) can be improved significantly with a little "treatment" by the experts. Seen it done many times. Good luck!
Wow Chris, I just got a chance to read through this thread. You totally suck! Looking forward to the TPG results.
Still working with the owner on what to do. I'll post when I can. Until then I won't be posting about it. Sorry guys. Patience
Could be like the pieces Julian Leidman has on ebay that he swears are proofs but PCGS called them business strikes. Wasnt ANACS like the experts on MPLs once?
If several of the diagnostics weren't present I would agree with you. There is enough going for the coin to make it worth the effort. I don't think I would have Julian Leidman be the authenticator though. I have no idea what is keeping the owner from pursuing authentication. The upside is a nice little windfall............if $10k-$20k is little.
Oh no I for sure believe the OP coin is in fact a matte proof. Im just commenting off of what @C-B-D said.
I think it must have came back as an MS Details Cleaned. I can't see a reason to not just say what PCGS had to say. Maybe the owner is not happy and want's an opinion from NGC. Looks like a bunch of smoke and no fire.