1902 Matte Proofs, Take A Look and Grade - You Probably Can Match the TPGs

Here are some pictures of the 1902 Matte proof 5 Sov. and 2 Sov coins. I primarily collect silver and copper/bronze but appreciate the golds. I have noticed the "Big Two" TPGs to be all over the map with regards to grading. Allegedly mint workmen did not like the appearance of any of the silver or gold matte proof coins produced in 1902 as they did not look like earlier proofs (eg 1887 and 1893 coins) and wiped the coins on their shop aprons; I have seen that story quoted in many different sources but not sure if that is so.
Regardless, many do have hairlines but also have the leftover stigmata of the matte finish application itself during which struck coins were subjected to fine grain sandblasting (!!). I have seen coins graded as high as 65 that have what appear to be hairlines and then seen them go as low as 58 with virtually the same density or numbers of hairlines (BTW there are much worse discrepancies on grading of the later mattes from the 1925-1960 period). On some coins the hairlines extend up to the devices and then clearly stop and then the guessing begins as some appear raised as in hairlines to the striking die & some infused as wear to the coin - IMO the TPGs do not consistently check exhaustively as to which and then issue IMO erratic grades on these coins.

These photos taken through one of the near 25 year old ANACS soap bar holders & the reverse especially has diagonal lines that are a wipe mark on the holder plastic. Also in hand do not see friction on St. George's thigh. Probably pretty near average.
Here is the 1902 Matte Proof 5 sov:

 

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Wow!

 

PF64

 

64

 

2 sovs (I can see what look to be mild hairlines near horse's tail):

 

I have the four 1902 gold pieces in Matte Proof. The half sovereign and sovereign are raw and part of an 11 piece set. The two and five pound pieces have been graded.

Woops! I need to take individual pictures of the two smaller gold coins. Here are photos of the set. The two small gold coins are okay, but far from outstanding.



Here is the two pound coin. It is PCGS graded Matte Proof-63. The only thing I can see wrong with it is a shiny spot on King Edward's brow. I think that the grade is on the conservative side.



The 5 pound coins can cost you an arm and a leg. I went the less expensive route and bought on in Matte Proof-62. It's a bit too shiny to be in a higher grade, but I don't know if it had that much Matte surface from the beginning. It does not have much in the way of hairlines.

 

I believe that the 5 pound piece in the ANACS holder that was shown in the opening post as been wiped. I see some hairlines on the reverse in the second photo in the second post. As such, I'd say that it would grade Mt. Proof-61 or 62.

These coins have gotten really expensive, so any example is a "good coin" so long as it's not severely damaged. A really nice one in PR-65 sells for $15,000 or so.

 

Try and find a legit 65 LOL. The ones I have seen are beset with the same micro hairlines...

 

I am going by the grades on the holders, not what I might grade them. Unfortunately the Covid epidemic left me depending on photos more than I ever have before. It’s worked out pretty well. I only had to return one item over the past couple of years.