Here's a proof that I found today while roll searching during lunch. I'm trying to decide if I should submit it to PCGS or SGS for grading/slabbing before putting it with the rest of the proofs in my safe. As you can tell from the pictures, it's a real beauty. Someone really took the time to care for this piece of American History. If only the coin could speak and tell us it's story.
Using these three points as my only guidance available: Choice Very Fine (VF30) - Light even wear on the surface and highest parts of the design. All lettering and major features are sharp. Extremely Fine (EF40) - Design is lightly worn throughout, but all features are sharp and well defined. Traces of luster may show. Choice Extremely Fine (EF45) - Light overall wear shows on highest points. All design details are very sharp. Some of the mint luster is evident. And of course seeing the coin in person is easier than working from a scan, I'd give it a EF40 at best, but go with a conservative EF35. What makes it difficult to make a clear designation is that these are fine scratches throughout the entire coin and not the normal wear that I'm accustomed to. Does damage count as wear?, or do we say EF-45: DAMAGED? While I see some people use the PR designation, is this actual convention with the TPG's??
Sometimes you just need something new to break the mood. I still can't understand what could bring a person to spend a proof at face value, even with figuring in the ignorance factor.
I think this makes my 6th '71S that I've found. The only other year that I've found more of is 1979S, but I don't remember off hand how many of those I have.
How about: theft? I remember seeing a proof set plastic case be the side of the road one day while riding my bicycle. It was broken open and the coins removed. The case discarded.
talking to a dealer friend of mine, he said that a lot of people will buy a proof set for just one coin, then drop the rest into circulation.
Even the theft factor baffles me. Just because someone got if for free, you would think they would still sell it at a coin shop.
PR 50 -- not worth the shipping/grading fees. I'd put it in a 2x2 or an airtite and enjoy your new find -- it is not worth much more than its melt value, unfortunately...Mike
Treashunt, thanks for the correction. Leadfoot, I was joking about the grading, hence the comparison of PCGS to SGS. Actually, I think the melt value for these is still <50¢.
That's how circulated it's been. There is little evidence of the frosting left. There is even less evidence of the mirrored fields in the lowest parts hugging the design elements. All 1971S Kennedies were proofs.
