What kind of premium would you pay for a proof-like coin?

dan1ecu

If you found a liberty nickel or barber half, or even a gold coin that had proof-like surfaces and was labeled as such on the holder, would you pay a significant premium for it?

Do you think that proof-like coins should command as much of a premium as nicely toned pieces?

Dan

FC57Coins

I think it's all in the eye appeal of the coin. If a prooflike coin, like a toned coin, has eye appeal beyond that of a regularly graded coin, it might warrant a premium based on the appeal to the buyer. To give a blanket statement on all PL's would not be a prudent thing to do, given that PL surfaces sometimes display dings and nicks much more prevalently than regular MS coins. Like anything else - you have to judge individual coins to make that determination.

Frank

hughesm1

It depends. If the series (or year) is plagued by a weak strike, then yes.

IMO, PL coins ought to command a higher premium, as surely there will be a finite number that qualify as PL but over time nicely toned coins can be made (even as to appear as non-artificial toning.)

LucyBop

There is a certian Hepcat who has a 49s ProofLike Frankie... I'll pay a premium for that one.

DCAMFranklin

In those series, you bet I would pay a premium. Not as high as that for a wildly toned coin, but a good premium. Heck, even the Morgans with big surfaces and PLENTY of PL coins receive a premium for the PL on the holder.

DCAMFranklin

A '49-S Franklin in a PL holder? What service?

LucyBop

the 49s isnt designated anything other then a ms66fbl, but its as prooflike as a coin can be....

DCAMFranklin

I hope the owner will post some pics to give us the opportunity to see a PL Franklin.

FC57Coins

It's Oldcameoproofguy's Frankie - I'd give a major organ for something like that! Although not fully documented, it is probably one of 20-200 (no one really knows) presentation pieces made to celebrate the inauguration of production of Frankies at the San Francisco Mint. It should probably be classified as a Specimen Coin. A true rarity! I'd post it - but I'd rather give Mike the honor it deserves.

darktone

look what the PL designation did for the morgan dollar or better yet look at how any designation has improved the value of a coin if the big two list it on the holder. mike

coinguy1

For me, it will depend, almost entirely, upon the type of coin.

For instance, certain dates of Type lll gold dollars are quite common with PL surfaces. You can often find some issues of mint state Three Cent Silvers, Liberty nickels and Shield nickels with PL surfaces, too. Ditto for some With Motto Seated Liberty quarters and Half dollars, among others.

I predict that a number of people will pay silly premiums for some PL coins, not realizing that they aren't really that scarce, after all. Caution is strongly advised - do your homework (BEFORE you spend your $) in learning which coins are truly rare in PL and which ones are not.

Edited: I changed what was Three Cent Nickels, to Three Cent Silvers, above.

jonesy

Come on Frank. A major organ??? Who gets to choose?
Glenn

DCAMFranklin

Mark- I understand the jist of what you are saying. However, look at the PL Morgans. Man, they are anything but rare. Yet, there are enough collectors of the series, that they bring a premium. So, I think it is more a function of the number of collectors in the series AND the PL designation in the series. aka marketing??

coinguy1

DCAMFranklin - you make a fair/valid point - I hate it when that happens!

But, it is highly unlikley that other series which contain PL coins will share the popularity of the Morgan dollars. And, in most cases, the number of PL coins involved will probably be small enough so as to discourage most buyers from actively seeking them. In other words, they wont be worth promoting on a large scale.

coinkat

DCAMFRANKLIN:

Not all Morgans are common in PL. While I am the first to agree that an 1881-s PL is very common, there are other dates that are very, very rare. I won't even mention the key dates such as the 1886-o, 1896-o or 1901. How many 1902, 1903 or 1904 PL Morgans have you seen? And there are others such as the 1893 that are very rare in PL. It may sound hard to believe, but out of the series about 1/4 of the dates are a real challenge to find in PL.

dorkkarl

the anser totally depends, but not that i'm ignoring whether the slabe says or not. a good example is philly seated dimes & quarters from the 1880's, which practically always look p-l, yet how often does the slab say so? very inconsistently, they almost never say it, maybe because theyr'e so common(?) furthermore, it's a coin that i would pay a premium if the coin is NOT p-l.

in short, it really depends

K S

michael

1894 s morgan in 63 and higher virtually non existant in dmpl and really rare in pl if the coin has a cameo really really rare!
i guess it depends on the coin the grade the series the date and mintmark combo the overall look of the coin

and then the demand for the coin you can have some coins that are rare in pl yet is not worth a permium for as like mark feld says there is little supply so hard to have a demand and also to add to that many may not know or understand these coins so without knowledge of the coins by most buyers/collectors there will be no permium

i guess you needs to show me thE specific coin then i can tells you

sincerely michael

a great thread!

i think demand will grow but it will take time and the coin at best case scenerio better be uncommon as such and be strongly prooflike not a just made it with great eye appeal and hopefully cameo then you mights have a good coin

even the common 1880 to 1888 ms strongly prooflike quarters are great buys if you get a really super eye ap[pealling one that is really super strongly cameoed and either blast white or neatly toned but still strongly pl and cameoed

again it all depends on a sight seen appraisal of a specific coin

so show me the coin and then i can tell you

sincerely michael

cladking

PL coins are my favorites. The problem is that being PL doesn't necessarily
mean it will have less marking on it. While these are typically struck by very
new dies this will not necessarily result in a well struck coin. PL coins show
marking very prominently which can actually decrease their "eye appeal". A
well struck gem in proof like is an extremely desirable coin.

oldcameoproofsguy

I guess since you guys brought it up, I'll post a photo.




I did pay a premium for this one.

wingedliberty

It would be on a case by case basis. Certain series and dates are very scarce in PL and others are abundant. Generally speaking, the answer is yes.

Brian.

LucyBop

<< <i>I guess since you guys brought it up, I'll post a photo. >>



GASP!

rays

None. I prefer frosty luster to prooflike surfaces. PL surfaces show every hairline.

rkfish

When applied to Morgan's it can bring a huge premium.....
Check out the 1880's P mint coins and a couple of others......
Date-----63pl-----64pl-----65pl-----66pl-----67pl
1880------49-------69-------14--------2---------0
1881------64-------33--------9---------0-------- 0
1882------95-------72-------14-------- 0---------0
1883---------------114-------29--------2---------0
1884----------------71--------19--------5---------1
1887-s----25-------11---------0--------0---------0
1888-------96-------91--------31--------5---------0
1888-s-----47-------34--------2---------1---------0
1889-------83-------45--------10--------0---------0
I could go on but I think most will get the point.....these
"common" PL's can be a bit more difficult, especially in GEM condition,
than even I imagined..........considering the total # of coins graded in
these particular grades....
These are pops out of PCGS's pop reports.......

Lakesammman

Recently purchased this 1860 Type 1 IHC, PCGS 66. It's made proof-like by the die striations. My other proof-like coppers don't photograph to well - still haven't mastered the technique! Don't know if I paid a premium or not - sheets don't cover these sorts of coins.

grip

I think the" big boys" should give the PL designation to any series that warrents it.I have a peace dollar that may go PL,and do believe it's scarse.Al

rkfish

Grip,

Have you re-submitted this Peace Dollar?

I have not forgotten about it......

grip

Steve
No I havent,I had asked PCGS if they would give me the PL designation=No.was the answer.I dont understand why not,it's not like there's an abundance of them . Al

rkfish

it's not like there's an abundance of them

you are right about that!

one day I'm gonna see that coin!

Have a good day!