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<p>[QUOTE=&quot;physics-fan3.14, post: 3183054, member: 19165&quot;]Gem Proof is an old-school term that meant it was a nice coin. Anything considered &quot;Gem&quot; under these descriptive grades would correlate to a modern grade of &quot;65&quot; or higher. </p><p><br /></p><p>The descriptive scale went thusly (and the proof terms correspond): </p><p><br /></p><ul> <li><i>Uncirculated </i>(MS-60, MS-61, MS-62): A technically uncirculated coin with abundant and noticeable defects such as bag marks and scrapes. It is usually accompanied by a poor strike and dull mint luster.</li> <li><i>Select Uncirculated</i> (MS-63): An uncirculated coin with fewer deficiencies and better eye appeal been lower Mint State grades</li> <li><i>Choice Uncirculated</i> (MS-64): These coins have moderate distracting bag marks and/or very few, but noticeable, light scratches due to handling. Eye appeal will be good, but not outstanding.</li> <li><i>Gem Uncirculated</i> (MS-65, MS-66): any uncirculated coin with only minor and light distracting marks or imperfections. Strike and eye appeal will be above average for the coin type.</li> <li><i>Superb Gem Uncirculated</i> (MS-67, MS-68, MS-69): And uncirculated coin with only the slightest of imperfections due to handling and transportation. Many of these imperfections will only be visible under magnification. Strike and eye appeal must be outstanding compared to other coins of the same type.</li> <li><i>Perfect Uncirculated</i> (MS-70): An utterly flawless coin with no imperfections or marks visible even under magnification.&nbsp; Strike must be exceptional and eye appeal must be dazzling.</li> </ul><p>These terms are very important to understand if you read older auction catalogues, and you&#039;ll often see them misused by modern shysters to imply something is nicer than it really is. </p><p><br /></p><p>In the case of the OP&#039;s coin, I&#039;d suspect that the submitter had a very large quantity of coins that they were submitting. These bulk submissions can designate a minimum grade for numerical grading - anything less than that gets a descriptor, and has reduced grading fees. </p><p><br /></p><p>The signatures are cool, but the set is realistically not worth a whole lot beyond it&#039;s &quot;cool&quot; factor.[/QUOTE]</p><p><br /></p>

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