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Message:: [QUOTE="John Burgess, post: 4897138, member: 105098"]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.[/QUOTE]

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