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Message:: [QUOTE="ziggy29, post: 18793, member: 1113"]A few thoughts: 1. Proof coins were made with a special measure of manufacture and with care not to subject them to the usual dangers of the coining process.  Thus, the average proof has fewer hits and distractions than the average mint state coin.  Thus, while 65 is considered a particularly choice grade in mint state (indeed, it's usually considered the lower end of "gem" status), it's a more ordinary grade for proofs, especially modern proofs. 2.  Proof coins were specifically made for collectors who were likely to not subject them to handling abuses seen in some mint state coins that were jostled around and handled after leaving the Mint.  This adds to point #1 that leads to 65 being a more exceptional grade for MS coins than for proof coins. 3.  Most proofs have very full strikes.  Many mint state coins do not.  The fact that "business strike" coins are often less well-struck leads, yet again, to a lower average grade (to the extent that "market grading" is employed such that strike is considered as part of the overall numerical grade). 4.  Many collectors prefer mint state coins to proof coins for various reasons.  This increases the demand of MS coins vis-a-vis proof coins and increases their relative market value.[/QUOTE]