Proof Coins vs Classic Mint/Master Strike Coins

FROM THE DESK
OF
RICHARD E.FAHY

Subject: International Grading of rare Coinage.

PROOF COINS

The definition of a Proof Coin in simple terms is a coin that has been separated on the first mintage, to serve as the defining example of the year of each coin minted. These coins were used as the benchmark for all future coins to be minted in that denomination and that year.

Australian pre decimal proof coins were minted in number only up to 100 coins, many of which were reserved for The Royal Australian Mint, the British Royal Family, serving political members and noted dignatories. Pre Decimal Proof Coins were minted from 1910 until 1964.

With the introduction of Decimal coinage in 1966 Proof coins were made available to the Australian public through The Royal Australian Mint.

A proof coin by correct definition has been double stamped & highly polished. All proof coins are first generation coins, from highly polished dies, producing the desired highly polished finish that results in a mirror finish, due to double stamping rims of all coins were raised over the base of each coin.

Proof coins are the most desirable of all coin stampings, even with wear a Proof coin maintains this unique grade.

As Australia’s leading on line International numismatic dealer @ www.therightnote.com.au having occasion to use International grading services including PCGS & PMG, both based in the USA. The definition of Proof coin remains the same internationally.

There are differences in grading Proof coins from Australia to EG: The USA-Australian grading traditionally takes the form of grading the coin as Proof, nominating the provenance of the coin, reliant on grading by individual Australian numismatic dealers.

TRN use the grading system of PCGS (Professional Coin Grading Service) TRN use this system, grading takes place as a numerical system
EG: A Proof coin will be graded from 50 to 65+. Up to 55-65+ In Australian coinage grading almost Uncirculated to Uncirculated.

In the case of a Proof coin being graded as PR65, this coin will be a designated as a Deep Cameo Coin, recognised as the highest quality Proof coin.

MINT/MASTER/SPECIMEN STRIKES

A Mint Strike coin is one which is described as Choice Uncirculated, the coin has a frosty matte finish.

The final finish varies from general circulated coins including higher stamping pressure, striking after Proof coins are completed, with machine polishing to complete the coin.

Through our services with PCGS the definition of a Mint strike covers the above description. Mint strikes can range from MS 55-65.

Australian numismatic terms for a Mint Strike will be Gem Uncirculated+.

NOTATION: The price variance of a Proof/Vs Mint Strike can vary greatly to many thousands of dollars