I got this 1963 Proof on ebay for $1. Im sure the penny is a proof. Do you grade a proof coin, or are they just a proof. If you do grade a proof coin what grade would this coin be and why? Im sorry to keep hammering you with all the questions but Im just trying to learn from you. What do you think about the numismedia site, how close are there values? Thanks
Yes proofs, are graded just like business strikes. I'd grade this one as a PF-63, you payed about cost for this penny.
dj, Coin grades are discussed in the front of your Red Book. (You DO have a Red Book, don't you?) Refer to the Chapter entitled, 'CONDITIONS OF COINS / Essential Elements of the American Numismatic Association Grading Standards' (near the front of the book) and the chapter entitled, 'PROOF COINS AND SETS' (immediately after Commemorative Coins.
i would think a typical proof from 1963 would grade higher, maybe 65-67. since the lowest coin that get graded is about 66
You'd be surprised at how low some of those '60s proofs will grade. Like Rodney Dangerfield, it seems like they don't get any respect.
It might have something to do with residue from the plastic getting on the coins. When I was buying '60s proof sets back in the '80s, I was told that it was better to take them out of the government plastic and put them in inert holders because the government plastic could end up contaminating the coins. I don't know how true that is, but I do know that just about every cent that I had in those proof sets developed at least one ugly black spot.
