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<p>[QUOTE=&quot;Collect89, post: 1786735, member: 15445&quot;]Of course, you can&#039;t tell anything for certain without a full photo or better description but I have a theory.&nbsp; ANACS used to supply their photo certificate with a grade for the obverse &amp; a grade for the reverse.&nbsp; The last photo certs I personally ordered from ANACS was for a 1940 proof set.&nbsp; I did this in 1989.&nbsp; I think they discontinued offering the certificates around that time.&nbsp; ANACS returned my 1940 proof set as raw coins and included five certificates.&nbsp; This appears to be a raw coin that has been holdered by &quot;Coin Vault?&quot; along with the ANACS photo cert.[/QUOTE]</p><p><br /></p>

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