Is there a good resource for demonstrating how to grade between the better proof coins? I have some that are probably PR 65 at least, but I don’t know how to make any further distinctions than that. Thanks in advance!
Proof refers to the method of manufacture and is not a condition. There are 11 grades of proof coins, ranging from Proof-60 to Proof-70. Anything Below PR 60 is an impaired proof or circulated proof. it's literally the same standards for MS uncirculated coins. there is no real online reference to grading proof coins because the key to getting it right are the hairline flaws, or lack of them, and images in 2D just don't make them appear. you need to coin in hand to evaluate it, be able to turn it and tilt it. MS/PF70 A coin with no post-production imperfections at 5x magnification. MS/PF69 A fully struck coin with nearly imperceptible imperfections. MS/PF68 Very sharply struck with only miniscule imperfections. MS/PF67 Sharply struck with only a few imperfections. MS/PF66 Very well struck with minimal marks and hairlines. MS/PF65 Well struck with moderate marks or hairlines. MS/PF64 Average or better strike with several obvious marks or hairlines and other miniscule imperfections. MS/PF63 Slightly weak or average strike with moderate abrasions and hairlines of varying sizes. MS/PF62 Slightly weak or average strike with no trace of wear. More or larger abrasions than an MS/PF 63. MS/PF61 Weak or average strike with no trace of wear. More marks and/or multiple large abrasions. MS/PF60 Weak or average strike with no trace of wear. Numerous abrasions, hairlines and/or large marks. It's not easy really. it's a skill that takes a ton of practice because all well cared for proof coins look the same to the untrained eye.
You can have PR coins that are lower than 60. You can't have MS coins lower than 60. I've seen PR-45 coins and lower. There are photos on this site of proof coins with low grade numbers
yes you can have a Proof coin that is graded below PR60, but that is an impaired proof/circulated proof automatically I believe and always caries the PR, even if its an AG3 or a EF45. this mostly applies to the much older and rarer Proof coins though, I don't think many people are going to send impaired proof coins like found from CRH in to get graded. and get a PR55 or PR58 back, or a pocket piece proof silver eagle. At least how I understand it below PR60 when a coin is circulated and shows signs of it.
i'd agree on PR66 or lower for modern proofs being "impaired" considering what's available without any sort of issue, but it really isn't. I wouldn't want a modern proof even below PR67 really as a preference since PR69 and even 70 is pretty commonplace. But would you call a MS64 Morgan dollar a "circulated" morgan and dump it down to AU? because with proof coins, that's what you are doing by calling a PR66 or PR64 impaired proof. As I said previously, Proof isn't a condition, it's a method of manufacture. The "grade number" is the condition. If it's "mint state" it's going to be 60 or above, if it's circulated, damaged, signs of wear, it's going to be below 60. The amount of impairment that defines an "impaired proof" has always been at least somewhat subjective though. I'd think, for a proof to be impaired proof, it has to exhibit an issue or issues that would preclude it from being seen as "Mint State" any longer. I've seen some pretty nasty PR63 or PR62 That were wiped or cleaned that for whatever the reason didn't get cut down to below PR60 and in my opinion should have since they were clearly mishandled. Like a fingerprint, Technically a fingerprint is acceptable on a mint state coin as long as it doesn't have any signs of wear, it will drop the coin a few grades in Mint state but stay in mint state, but it wouldn't necessarily make the coin "circulated". signs of wear or circulation would make it circulated and drop it out of MS. Same goes with PR. Doesn't mean I would want a MS63 or MS66 coin with a distracting fingerprint, but they do exist. We all have what we will call acceptable and unacceptable. An impaired proof is a proof strike that shows enough signs of wear it can no longer be considered Mint State. once there's wear, it's impaired. mishandling, if severe enough can be "signs of wear" that knock it below 60.
If you have questions on some of your existing coins, you could provide pictures of them for the experts to give an approximate rating.
Grading Proof coins from photos is even harder than grading MS coins. Since I have been looking to complete a 1937 British gold Proof set on-line, with few or no shows available, I have sharpened my skills, but it is still hard. The things to look for are marks, tiny scratches called hairlines and fingerprints. Some hairlines can only be seen at certain angles. Toning is usually not a grading factor although if goes too far, it can make the coin less desirable. When it kills the Proof mirrors, it has gone too far and should lower the grade, but the grading services seem to differ with me on that one.
Here's an example of a 1963 Jefferson proof which is gorgeous (to my eyes), great eye appeal, and even under a 10x loupe I only see minor irregularities in the mirrored surfaces. I see no scratches, spots, etc. I hope that the pictures reflect that.
