This arrived today from my Sister in Canada. All marks are on the capsule. Numista has it as a specimen, not business or proof. It is a term I am not familiar with regarding coins. Here is the info https://en.numista.com/catalogue/pieces16315.html and here is the coin if someone can explain specimen to me, thanks
Yikes, I think I may let others handle this. It is difficult to define and the definition not only vary between people but also over time. In general, a specimen strike is one of special presentation and treatment but not quite up to the quality of proof. But then the breakdown on definition changes as intimated. Usually proof coins (vs. specimens) have specially prepared and handled blanks or planchets that are struck by specially prepared dies with the planchets being struck multiple times. Many times, but not always there is a frosted aspect to the devices and lettering that is in contrast to the fields (you don't see this on the OP coin). I will leave and follow this for possible further commentary.
Other way around, it's superior to a proof hence how it can be recognized. You don't specially prepare something to have it be inferior to a common issue method.
This is the case it was bought in, obviously open for viewing at the coin shop judging by the fibres inside and the marks on the capsule, also no COA but my sister saw past all that and bought me a wonderful coin. Would you know of a reliable source to learn more about this method of producing a coin?
Short answer: What 'specimen' means depends on the country, time period, and collectors' attitudes. Long answer: At that point in time, Canada had three finishes: circulation, proof-like, and specimen. Proof-like coins, I believe, were struck using highly polished dies but otherwise similar to the circulation coins. Specimens were struck using 'prepared' dies and usually struck twice. In my experience it can be tough to discern a proof-like and specimen coin on finish alone, but luckily this is only an issue for circulating denominations. Specimen does indeed slot in between proof-like and proof in the hierarchy of finishes for Canada (and below proof in most places that I'm aware of). The key is that Canadian proofs use prepared dies and planchets, and Canadian proofs will always have cameo. The first Canadian proofs were commemoratives for the 1976 Olympics, and proof sets of the circulating denominations began in 1981.
Canada may do something different in which case that can be true there. Ultra moderns use the designation as kind of a catch all if you will for different things but the SP grade isnt what I would go to right away for referring to them
I have not ever heard of a designated specimen strike being superior to a proof, and would take exception to that. In the OP, the depicted coin we were given the choice of business, proof or specimen. If held to that, then it certainly is NOT a business strike and it just does not stand up to proof standards as I look at the photograph. Therefore deduction leads to us choosing "specimen". That having been said, it appears to be more of a prooflike strike. Shaving hairs is not a specialty of mine and frankly tends to irritate slightly. In the Norweb sale of Canadian coins, there were many pages devoted to separating specimen and proof. Reading it frankly left me wanting as IMHO there were contradictions in there; "pigeonholing" does not really work and there are so many exceptions that it becomes clear to me at least that there is really more of a sliding scale from business to proof with PL and "specimen" generally being somewhere along the middle points of this spectrum.
https://www.coinsandcanada.com/coins-prices-collection.php?coin=silver-dollar-1979&p=10&cat=1 Quote "Specimen coins are struck up to two times on numismatic presses." Closed quote
Actually baseball, that IS how it works. Entertained would be rational discourse rather than unsubstantiated and baseless contrarian flat statements. However, first the logic, deductive, and secondly the truth of 30 + years of experience and three college degrees.
This kind of says it all. I'd say this way though - the definition of a Specimen coin depends on who you ask. Specimen coins do however have a few characteristics that pretty much all definitions have in common. Like Proofs, they are struck with specially prepared dies and planchets, they are struck more than once, and they are typically struck in small mintages. But they are different than Proofs and business strikes. In other words they are in their own classification. Personally, I've always thought of them as being similar, not the same but similar, to Presentation strikes from the days of old. Presentation strikes were coins that were minted with great care and attention to detail because they were to be presented to the King/Queen, or the pertinent minting authority, to serve as examples for approval of new coins. Presentation strikes predate the very first Proofs. And that's where the time thing comes in to play. In later, more modern years that idea changed and the term Specimen became more of a marketing gimmick than anything else.
So a specimen is a business strike with a proof attitude? I've owned a few Canadian specimen bullion coins and quite honestly, some look much like an uncirculated coin, while others went as far as having selective frosting and mirrors like the current U.S. enhanced uncirculated. Maybe there is an official difference within the Canadian Mint, but it seems to be just a middle ground. A step up from business strike, but not quite a proof, if that isn't vague enough!
There are multiple types of specimens. They can be a coin with special striking and handling and/or a special finish produced for collectors, that isn't a prooflike finish and isn't a proof (as with US SMS issues). They can be special presentation pieces prepared for a dignitary, for archiving by a government collection, or the like (as Doug mentioned). Another common use for specimen that hasn't been mentioned yet is that some countries will literally add the legend "specimen" in the language of the issuer on a coin or banknote to denote one of three things. First, that the coin has been prepared for testing purposes (as with an experimental planchet). Second, that the coin has been produced as a sample at request of another country, bank, or in some case, businesses. Third, that the coin has been produced as a special issue for the collector market. In all three of these cases, the specimen (as marked) is not considered legal tender. The above methodology is very common with banknotes as most countries produce specimen notes (including the US). Specimen notes of this type are typically overprinted or punched with the word specimen, and also typically have a special serial number that is either all zeros, a specific placeholder sequence (like 1234567890), or are numbered sequentially.
I always find it interesting to refer to the Brits. Specimens were for all intents and purposes proofs through the 19th century [at least]. But modern Brit bullion coins, esp the gold Britannias et al are struck multiple times on special planchets by special dies and referred to as "uncirculated". Wow, they are proof by all measures; however their proof issues instead of just being struck 3 or 4 times under high pressures are struck multiples of that.
You have received various opinions. It may be worthwhile to email RWB for a knowledgeable explanation of the designation SP. I am sure you will enjoy the learning experience.
