I recall being shown two Proof trade dollars dated 1873.
One was certified as Proof-60 and was bright and beautiful. It had been dipped
sometime in the not too distant past, but even so it was aesthetically pleasing.
The other was certified as Proof-63 but was darkly toned and blotchy. In my
opinion, the Proof-60 coin was worth double or triple the price of the 63.
Opinion is divided as to whether manufacturing flaws in
Proof coins should be mentioned or whether the grade of a Proof coin should be
dropped to compensate for this. For example, I recall seeing an 1858 Proof
Liberty Seated quarter dollar, which, like numerous other small-denomination
Proof silver coins of the period, had a myriad of lint marks in the fields.
These lint marks consisted of lines, curlicues, and other depressions in the
coin's surface and were made by threads adhering to the die used to strike the
piece, residue from an oily rag used to wipe the die. I suggested that an
appropriate description would be "Proof-65 with mint-caused lint marks in
the field," but the owner of the coin decided to offer it as Proof-63 with
no further comment, believing that the coin was worth a Proof-63 price, which it
undoubtedly was.
As is the case with Mint State coins, even the experts and
the grading services are apt to disagree on their findings. What is Proof-65 to
one person may be Proof-66 to another, or vice versa.
Prooflike Coins
Certain business strike coins were made with prooflike
surfaces at the various mints, particularly in the 19th century in Philadelphia,
Carson City, New Orleans, and San Francisco. These were not made for collectors,
but were produced during the ordinary course of business. Such surfaces were
caused by striking the pieces from polished dies. In some instances, a new die
was given a mirrorlike finish as part of the die manufacturing process. In other
instances, dies which had been used extensively were resurfaced by light
grinding and then, to eliminate the grinding marks, by polishing.
Coins which exhibit a mixture of frosty mint lustre and
prooflike finish are called prooflike (abbreviated PL). Coins which are so
prooflike that they almost resemble Philadelphia Mint Proofs are called deep
prooflike (abbreviated DPL), or, in a term popularized by Bruce Amspacher, deep
mirror prooflike (abbreviated DMPL).
