Finishes VS. RCM quality control
Shimmy
Posts: 122
Taken from the CCRS.
Finishes vs. RCM Quality Control
Good day to all. "An overview" The Mint, from 1908 to 1954, and one must allow for a bit of flexability in this statement, produced coins with two finishes, Mint State and Specimen. The mint state coins are easy to understand, the speciment coins a little more difficult, for during the time frame more than one quality of specimen was produced. From early 1954 to the beginning of 1977, four different finishes are found. Mint State (MS), Proof-like (PL), Specimen (SP), and Proof (PR). As we all know, PL was never reconized by the Mint as a finish. From 1977 to 2005 the following finishes are found (not including coloured, holograms, etc.). Brilliant Uncirculated, Specimen, Proof, Reverse Proof, and Bullion. The mint recognizes and promotes all these finishes. A second factor besides these finishes, which is now in play, is the assigned grades MS-60 to 70, PL-60 to 70; SP-60 to 70; Proof 60 to 70, etc. Now the question. Choosing a mint finish, for example proof, what is the average condition PR-65, PR-66, PR-67, PR-68, or PR-69, that the Mint ships this product in? The reason for the question, the pricing tables are expanding to accommodate the new trend in collecting Mint products by grade. At what grade should the suggested retail price published by the Royal Canadian Mint be recorded? For example, if the Mint ships in an average condition of PR-67, and the retail price published by the Mint is $100, then the trend or catalogue price for that product in PR-67 must open at $100. Is that not so! Cogitate on that. Bill Cross
Finishes vs. RCM Quality Control
Good day to all. "An overview" The Mint, from 1908 to 1954, and one must allow for a bit of flexability in this statement, produced coins with two finishes, Mint State and Specimen. The mint state coins are easy to understand, the speciment coins a little more difficult, for during the time frame more than one quality of specimen was produced. From early 1954 to the beginning of 1977, four different finishes are found. Mint State (MS), Proof-like (PL), Specimen (SP), and Proof (PR). As we all know, PL was never reconized by the Mint as a finish. From 1977 to 2005 the following finishes are found (not including coloured, holograms, etc.). Brilliant Uncirculated, Specimen, Proof, Reverse Proof, and Bullion. The mint recognizes and promotes all these finishes. A second factor besides these finishes, which is now in play, is the assigned grades MS-60 to 70, PL-60 to 70; SP-60 to 70; Proof 60 to 70, etc. Now the question. Choosing a mint finish, for example proof, what is the average condition PR-65, PR-66, PR-67, PR-68, or PR-69, that the Mint ships this product in? The reason for the question, the pricing tables are expanding to accommodate the new trend in collecting Mint products by grade. At what grade should the suggested retail price published by the Royal Canadian Mint be recorded? For example, if the Mint ships in an average condition of PR-67, and the retail price published by the Mint is $100, then the trend or catalogue price for that product in PR-67 must open at $100. Is that not so! Cogitate on that. Bill Cross
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Comments
Shep
<< <i>if the Mint ships in an average condition of PR-67, and the retail price published by the Mint is $100, then the trend or catalogue price for that product in PR-67 must open at $100 >>
Not at all!
They sell to the public at that price ... but to selected dealers at a discount. Set the price at the discounted price?
If you buy a diamond ring at the jewelers for $2500 do you think that if you try to sell it to a jeweler on the other side of town that they are going to pay you what you paid?
Look at the treasure ship coins ... worth about 25% of what they were originally selling for.
Purchase price doesn't always have anything to do with value.
Coin Show Schedules - www.CoinShowDates.com
Charlton and Haxby say that the RCM did not strike true proofs until 1973 when they received new equipment for that very purpose. From 1982 on "prooflike" became "brilliant uncirculated," though one would be hard pressed to explain the difference in finish (even if manufacturing methods changed).
Obscurum per obscurius