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<p>[QUOTE=&quot;Kirkuleez, post: 2754098, member: 36864&quot;]Proof is the method of manufacturer and has zero to do with the numerical grade.&nbsp; The CAM and DCAM designations really only give you a clue as to when the coin was struck.&nbsp; The earlier in the dies life, the higher the cameo appearance.&nbsp; It is pretty easy to see the difference after you have handled a few of them.&nbsp; I only have two proof Morgan dollars.&nbsp; This first example is a pretty drab example as Morgan proofs go.&nbsp; This is a PCGS PR-64, but it has very little in the way of color or frost on the devices.&nbsp; It does have the typical razor sharp strike and squared off rims of Morgan proofs.&nbsp; This one was clearly struck late in the life of the dies.&nbsp; Still without certification and die markers, this one would be very tough to call a proof with any certainty.</p><p>[ATTACH=full]631436[/ATTACH] </p><p><br /></p><p>This 1880 though is also a PCGS PR-64, but it also carries the CAM designation and is a much higher end of the grade.&nbsp; This example was likely a much earlier strike for the die pair.&nbsp; It is not unusual for early proofs to not display a full cameo like modern proofs, the method of creating the dies was far different than today and this should be taken into account.&nbsp; If you see a raw Morgan proof, chances are that it will NOT have frosted devices.&nbsp; </p><p>[ATTACH=full]631444[/ATTACH]</p><p><br /></p><p>Although both coins are PR-64, neither of them show any bag marks.&nbsp; You will likely see fine hairlines on a Morgan proof, the fields don&#039;t hide mishandling very well, but you will likely never see any bag marks unless it is an impaired proof.&nbsp; Really, if you found a business strike coin with no bag marks, it would likely be worth more than its proof counterpart.[/QUOTE]</p><p><br /></p>

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