What is Gem proof

Discussion in 'Coin Chat' started by Richard T, May 16, 2019.

  1. Richard T

    Richard T New Member

    Hi I’m new to coin collecting and I have seen some coins with no Ms , but the slab has Gem proof on it but no ms#... please explain what Gem proof is and is worth more than a coin with a MS# ?? Thanks Richard
     
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  3. LakeEffect

    LakeEffect Average Circulated

    Here's a nice summary of the 70-point Sheldon scale that should answer your question.

    Briefly, proof coins are specially struck, high-quality coins made especially for collectors. They are labeled "PR-60" through "PR-70"

    Mint state coins are regular business strikes that have not circulated in commerce. They are labeled "MS-60" through "MS-70"

    Both MS and PR coins that are especially nice are sometimes called "gem".

    Coins that have circulated and are no longer mint state are given different descriptions and lower numbers.
     
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  4. SchwaVB57

    SchwaVB57 Well-Known Member

    Some dealers put coins in slab holders and put Gem Proof on the label. If the label is not from a national grading service (PCGS, NGC, and others), it is not considered professionally graded by a third party. The term Gem usually refers to a coin in the 63, 64, 65 range of the 70-point Sheldon scale that do not contain a specific number 0 through 70.
     
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  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    Sounds like an ungraded proof coin from a dealer used as a marketing ploy.
     
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  6. Autoturf

    Autoturf Well-Known Member

    Its a generic term to me, and like they explained, yet its a good idea to buy the coin and not the slab, if there is questions, ask for better pictures, educate yourself before you buy, and try to make your own determination of grade and what your budget can handle, if its too good to be true, it is. and sometimes you get lucky. a coin can be gem and flawed. spotted, scratched. but they call it gem, that's where you have to educate yourself.
     
  7. Jaelus

    Jaelus The Hungarian Antiquarian Supporter

    Gem grades start at 65, so gem proof is just PF65 or better.
     
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  8. Michael K

    Michael K Well-Known Member

    Proof can be any number. MS is from 60-70.
    Of course the newly minted ones will range from 63-70, but some of the very old ones and the impaired proofs (proofs that have circulated) can be much lower.
     
  9. ddddd

    ddddd Member

    Others have given a general idea of what the term means.

    If you see it on a holder from one of the big companies (NGC, PCGS, Anacs, ICG), those are usually from bulk submissions from big dealers (like the ones that sell coins on TV or in magazines). They can set a level under which coins will just be labeled as “Gem Proof” (usually this would be anything below PF 69 for modern mint issued coins). This is done either because it can cost less or just to help sell the coins (it’s easier to market something as a gem proof than an “off” grade).
     
  10. paddyman98

    paddyman98 No Common Cents! Supporter

    Gem Proof - When your fiance takes the ring you proposed marriage with to a jeweler to get proof that the gem is real! :hilarious:
     
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  11. tommyc03

    tommyc03 Senior Member

    And when she finds out it's CZ, pack your bags.;)
     
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  12. Autoturf

    Autoturf Well-Known Member

    Figure if I start getting serious with a lady, Im going to pull their little trick "im not getting married without a gold coin"
     
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  13. green18

    green18 Sweet on Commemorative Coins Supporter

    Anything 'gem' (in the colloquial term) is '65 or over, but you as the collector should serve as a second set of eyes to make and reinforce that assessment by whoever designated that grade. How's that for a 'run on'?

    Anything 'gem' is of considerable excellence both is strike and appearance. You alone are the grader.........
     
  14. Richard T

    Richard T New Member

    I want to thank all of y’all.. I learned a lot and I’m thankful for the replies.. I like that about the ring lol. Note to self. Give a real diamond then give it some time then change it out for a CZ. Lol. Again thanks. Richard
     
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