I couldn't find anything on the PCGS web site on this. There are satin finish 2009 quarters on Ebay being sold with the subject line of MS68. However the PCGS slab shows it as a SP68. What is the story on the SP designation?
Typically, "SP" stands for (a specially prepared/made) "specimen" or "specimen strike" produced especially for collectors, as opposed to a regular "MS" coin, struck/intended for circulation. Depending upon the coin and its condition, one might be quite a bit more common or rarer than the other.
I've only seen/heard of them being on SMS examples. Don't know if it makes them worth more or rarer/commoner. I have this one.
Thanks guys, your explanation makes sense. A 2009 quarter with a satin finish means it probably came from a mint set hence the SP designation.
PCGS only very recently started using the "SP" designation for the satin finish coins so it may not be dishonesty of the seller, but more of a way to get their auction noticed in the searches of folks searching for the coins in the holder designated as "MS" as they have been for years. I'm sure not everyone is even aware of PCGS move towards using the "SP" designation. Makes things confusing for sure.
I happen to have a 1965 SMS Dime with a PCGS SP67 designation. I suspect that this is a newer designation change. ( I think my coin was graded recently; the slab looks very clean). I would have to agree that common uncirculated "mint state" coins with the same or higher grade than "specimen" coins are worth significantly more. Just compare the prices of the satin finish vs regular uncirculated coins. It will give you a good idea of the values. For example a Satin Finish SP69 2008D Sac$ is worth about half of a regular uncirculated 2008D MS68 Sac$.
The SP designation is used on the Special Mint Set coins of '65, '66 and '67 by PCGS. NGC labels these same coins as SMS. PCGS now uses SP for the satin finish Mint Set coins and I think, but can't swear to it, that NGC still uses the SMS designation for them. That said, there are other coins that have the SP (Specimen) designation, they are just few and far between. I believe both the matte finish nickels from the Coin and Currency sets of '94 & '97 (? years) are designated as such and their are a few others. And yes, pretty much any coin graded as MSxx is worth more than a SPxx of the same number.
As far as I know, both PCGS and NGC use the "SMS" (not "SP") designation on those coins. I checked a few of them on-line before posting this.
SMS is usually an NGC designation. They seem to use this for the special sets (e.g. 94/97 nickels, dollars, etc) and the satin finish uncirculated sets. I have seen both MS and SP satin finish coins (2005+) as well as both MS and SP SMS ('65-'67) PCGS graded coins. I have also seen a 1994P SMS Nickel graded PCGS SP69 without the FS designation. I think that in these special cases the SP and MS are interchangeable as long as one keeps in mind the planchet/minting aphorisms and the relevant dates.
I seen them both ways but most were 2005-P&D Minnesota DDR.but now I know for sure Anacs uses the full words
