They're odd questions for me, anyway. 1) Are proofs graded the same as business strike coins? If I had a proof 1963 Franklin, but it was circulated, how would they grade it? PF-EF40? PF AU58? PF-damaged? PF-circulated? I've never seen a proof less than PF63, so I don't know. 2) From my understanding, proofs are geared for collectors. Is the same true for the old stuff, like an 1855 half dime proof? I wouldn't think that there would be that many collectors back then, especially for proofs, but I don't know. That's why I'm asking.
It's my understanding that proofs have always been presentation pieces, or pieces for collectors. As for grading, a proof is a proof. So, even if it's very warn it will still be graded PF or PR and then a number. This is what I understand about the topic. If there is more to add I'd love to see what else as I'd love to learn more too
Interesting thread... maybe it's a sign of the times, but I've picked up four proofs (including a silver quarter) from circulation in the past three months. That's four more than in my previous 50 years of collecting.
Interesting question...I was checking Barber Half dollars in the PCGS price guide. They don't list any proofs below PR60. I've read about a "reflection test" that's done on the more worn/damaged proof coins to determine if they are, in fact, proofs...but I don't recall the specifics.
That is probably because they did not have any impaired (circulated) Proof Barber Halves. Once a Proof, always a Proof. A circulated Proof coin is still a Proof coin; it would be graded the same as a Business Strike except it would be denoted as a Proof. So the answer to the question is the coin would be graded PF-45 or PF-53 (depending on the amount of wear).
Check your Red Book. Proof issues are listed in parentheses. The US Mint started minting Proof coins for collectors (and by that I mean the general public) in 1858. My oldest Proof coin is an 1859 Seated Liberty Quarter graded PF-61.
Do you know of any coins listed in the PCGS Price Guide less than PR60? Perhaps there are, but I haven't come across them, yet. Even the gold coins only go down to PR60.
Not in the price guide, but in the population report. I know because I have it. A raw 1909MPL BN that when submitted came back as a PF-58 . There are only 4 lincoln proofs graded below PF-60, 3 PF-58 and 1 PF-35.
I don't use that price guide. Below are some impaired Proofs I found on Heritage. 1855 Flying Eagle Cent Judd-168 PF-55 1871 Seated Liberty $1 PF-45 1836 Gobrecht $1 PF-35 1922 Peace $1 Matte PF-25 1856 Flying Eagle Cent PF-15
Thanks for sharing...I've never seen one, but it certainly stands to reason they would be out there. :bow:
