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The Poe Collection of Prooflike Coins

Category:  Other
Owner:  physics-fan3.14
Last Modified:  10/12/2020
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Origin/Country: United States
Design Description: HALF CENTS - CORONET, BRAIDED HAIR
Item Description: 1/2C 1855 C-1
Grade: NGC MS 65 BN PL
Research: View Coin
Slot:
Origin/Country: United States
Design Description: CENTS - FLYING EAGLE
Item Description: 1C 1858 SMALL LETTERS
Grade: NGC MS 64 PL
Research: View Coin
Owner Comments
Total Graded: 7617
Total Prooflike: 9
Percentage: 0.1182%

The Flying Eagle cent is a really short series, but remains quite popular. The coins of 1856 are considered to be patterns, while regular issue coins were only made in 1857 and 1858. Despite this, there are a wealth of varieties and subtle design changes. There are two design subtypes in 1858: the coins of ’57 and early ’58 have Large Letters on the reverse, some of the 1858 coins have Small Letters. This difference is easily seen in the United States of America on the obverse. There is also a reverse design type: High Leaves and Low Leaves. This is most clearly seen by looking at the leaf just to the left of the C and to the right of T in CENT. On the high leaves reverse, the leaf will come up above the level of the base of the C and T (as seen on my coin). On the low leaves reverse, this leaf ends below the bottom of the letters.

Many of the 19th century prooflikes are theorized to have been created when Proof dies were later recycled and used for business strikes. The first few of the strikes will have reflective surfaces, until the delicate mirrors are worn off by the moving metal. The present coin, my 1858, is very easy to identify as one of these “coins struck by proof dies.” Rick Snow has specialized in early small cents, and, using his book, this coin can be attributed as the PR-1. After showing the coin to Snow, he agrees that the coin is a prooflike business strike. The key identifiers are the weaknesses in the strike, and the rounded rims. A proof strike will have sharp, square corners on the rims which this coin does not show.

The appearance of this coin is quite attractive to a specialist, but may not be something everyone appreciates. The mirrors are not extremely strong, but the fields are clearly reflective. The luster is muted (luster is often difficult to interpret on PL coins). There is a subtle and original patina on the coin. Flying eagle cents were made with an alloy high in nickel, so their color is very different from later date cents – the pale reddish/brownish color of this coin is original, and characteristic of this composition. Weakness of the strike, especially in the wreath on the reverse, is minor (the strike is above average for the date – but below a true proof). Minor carbon spots are flecked here and there, and a planchet flaw below the 1 of the date provides easy provenance identification. The coin easily earns the 64PL grade.
Slot:
Origin/Country: United States
Design Description: CENTS - INDIAN HEAD
Item Description: 1C 1908 S
Grade: NGC MS 65 RD
Research: View Coin
Owner Comments
Total Graded: 93303
Total Prooflike: 7
Percentage: 0.0075%

Prooflike Indian Cents are rare. Well, that is a bit of an understatement. PL Indian cents are RARE! When I asked one of the leading Indian cent dealers (Charmy Harker) about PL Indians, she said “They don’t exist.” Well, I refused to accept that as an answer, and kept looking. I knew that NGC had designated at least a couple, so they had to be out there somewhere.

Finally, I found this one. I was at the 2016 FUN show in Tampa, and had gone to pay a visit to Rick Snow and asked him to take a look at my Flying Eagle cent (to determine if it was a proof or actually a prooflike business strike). While at the table, we started talking about my set and my quest for PL coins. He showed me a 1908S in his case, and I immediately knew that I had to buy it. It was priced quite strongly, but it was worth it. At the time, it was in a PCGS 65RD holder, with his EagleEye sticker. He said that this coin was previously owned by QDB himself, in a set that Snow had helped him build.

The coin is bright red, with flashy, deep mirrors. There is a significant amount of cameo contrast on strongly struck devices. A couple of very minor carbon spots, and a couple of minor contact marks are all that hold this coin back from 66 – which is why NGC crossed it to 65+. There is a moderate amount of very fine die polish lines in the fields. For some reason, NGC did not designate this stunning coin as PL on the first try, so I had to send it back for a designation review, where it easily earned the PL.
Slot:
Origin/Country: United States
Design Description: CENTS - LINCOLN, WHEAT REVERSE
Item Description: 1C 1938 S
Grade: NGC MS 66 RD
Research: View Coin
Slot:
Origin/Country: United States
Design Description: CENTS - LINCOLN, WHEAT REVERSE
Item Description: 1C 1943 S
Grade: NGC MS 66 PL
Research: View Coin
Slot:
Origin/Country: United States
Design Description: CENTS - LINCOLN, MEMORIAL REVERSE
Item Description: 1C 2004
Grade: NGC MS 68 RDP
Research: View Coin
Owner Comments
Total Graded: 75918
Total Prooflike: 148
Percentage: 0.1949%

Modern coins have a higher percentage of prooflikes graded, in general, than most classic series. Higher technical standards at the mint, and better polishing techniques, are generally responsible for this. In addition, the mint began chrome plating new dies in an effort to extend their life. Just like the chrome on your car, these chrome plated dies are often polished to a high shine – and hence a prooflike coin is struck. This change occurred in the mid-1980’s, and the modern prooflikes begin (depending on the series), around 1984.

The first of the modern coins in the type set is the Lincoln Memorial cent. Modern prooflikes are often highly reflective, looking more like proofs than many of their classic counterparts. The mirrors are not quite as deep as a true proof, and there is a distinctly “business strike” look to them. They generally have more textured fields than the proofs often display. Cartwheel luster is usually present, and the strike is not quite as good as the double-struck proofs. There is very rarely any cameo effect on these prooflikes – they are almost always fully brilliant. However, comparing the strike of prooflike coins to the normal coins, the prooflikes generally have very clear, crisp strikes. This is because these coins are the true “first strikes” from early dies.

A note on the statistics for this series: after watching the numbers for several years, it seems the ratio of prooflikes is fairly stable. Since I started watching the memorial Lincolns, the total graded number has increased from 55,000 to 75,000 – but the percentage of prooflikes has remained fairly constant (it is only slightly lower than when I started watching them).

My Lincoln Memorial is a bright red, fully reflective Superb Gem. While there are a few 69’s graded PL, 68 represents a great value to price point on the later coins (after 2000). Prior to that, I would recommend a 67PL coin. 2004 is one of the most common dates for PL strikes, with the other most common dates being 1999D and 2003. Perhaps this is why I was able to obtain this one on Ebay for $35 (which is a very good price). The coin is a bright cherry red, and possesses very strong mirrors. There is a light sheen of unidirectional die polish on both sides, but close magnification is required to see it. The strike is full and crisp – the most detailed strike I’ve ever seen on a late-date Lincoln. This is clearly one of the very first strikes from a set of new dies. For a modern Lincoln, this is a beautiful coin.
Slot:
Origin/Country: United States
Design Description: CENTS - LINCOLN, BICENTENNIAL & SHIELD REVERSES
Item Description: 1C 2015 D EARLY RELEASES OFFICIAL US MINT SET
Grade: NGC MS 67 RD PL
Research: View Coin
Slot:
Origin/Country: United States
Design Description: THREE-CENT PIECES - SILVER
Item Description: 3CS 1862
Grade: NGC MS 67 PL
Research: View Coin
Owner Comments
Total Graded: 9781
Total Prooflike: 31
Percentage: 0.3169%

One of my goals as a collector is to buy coins that make people go WOW. It is great when I can impress a collector. Dealers, who often see so many nice coins, are often harder to impress: there are very few coins that will impress dealers. This is one of them Every dealer I’ve shown this to has paused, looked at it closely, admired it, and reluctantly handed it back (my 1871 Shield Nickel is another coin like this).

Silver 3 cent coins are actually fairly available in prooflike condition, compared to many other series. With a little looking, you can find 62-64 PL coins with more frequency than you would expect, given the number graded. What you will not often find, however, is one graded 67* PL. There are a few graded in the series at 67, and a couple at 68. I’ve had the pleasure of looking at one of the 68s and it was stunning, but the mirrors on mine are deeper. The most common date in prooflike is 1871, 1862 is second most common; 1851O, 1864, and 1872 are tied for third.

My coin has stunningly deep mirrors and a fantastic strike. There is a minor planchet flaw on the obverse which adds character, and very light die polish is evident at the right angle. Cameo contrast is strong, and the coin is nearly entirely free of contact marks. This is a tiny coin, but it packs a powerful punch. There is some disagreement among dealers I’ve shown it to whether it is actually a proof or a business strike. The rims are fairly square and the strike is strong, but the planchet flaw and die polish are uncharacteristic of a proof coin. Either way, the coin is attractive (and CAC agrees).
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Origin/Country: United States
Design Description: HALF DIMES - CAPPED BUST
Item Description: H10C 1834
Grade: NGC MS 64 PL
Research: View Coin
Owner Comments
Total Graded: 5876
Total Prooflike: 35
Percentage: 0.5956%

A brief perusal of a major sale containing a number of half dimes shows several which are often described as “prooflike” or with “prooflike characteristics.” Rarely are these fully prooflike however, usually only showing shallow mirrors or patches of reflectivity. These coins don’t have the deep, reflective mirrored surfaces required for a coin to be called fully prooflike. Half dimes, however, are among the most common early coins in prooflike condition, with a full 35 coins so certified in this short series.

The coin I have added to my collection is a stunning example, with deep mirrors and a razor sharp strike. This coin is in magnificent condition, with few marks of note anywhere on the surface. The coin is further graced by attractive blue toning on both sides, which tends to mute the obverse mirrors some but not much. The obverse mirrors are somewhat shallower than the reverse, but that is only because the reverse mirror is fantastically strong. The mirrors appear to be formed due to die polishing, which is evidenced by polish lines on both sides of the coin. Minor ghosting in front of Liberty’s face and under the eagle’s wing is the only impediments to the mirrors. This effect seems to be fairly common on PL Bust coinage, for some reason. This coin is definitely a keeper.
Slot:
Origin/Country: United States
Design Description: HALF DIMES - SEATED LIBERTY
Item Description: H10C 1858
Grade: NGC MS 64 PL
Research: View Coin
Owner Comments
Total Graded: 14925
Total Prooflike: 30
Percentage: 0.2010%

The half dime is a very small coin. The small surface area means that a larger percentage of them are going to be PL – or so you would think. However, the early Seated series is generally very difficult to find in prooflike condition. The later “With Motto” series is much easier.

The present coin is a fantastic example of the type. Deep watery mirrors are unblemished, with only scattered traces of polish evident under magnification. The strike is strong, but clearly not a proof – weakness in the stars and hair make it evident this is a business strike. Moderate toning is evident under the correct light, but is less obvious in hand than it is in these pictures. I got this coin at FUN 2012 from Dr. Eugene Bruder, a well known dealer and collector of prooflike coins.
Slot:
Origin/Country: United States
Design Description: FIVE-CENT PIECES - SHIELD
Item Description: 5C 1867 RAYS
Grade: NGC MS 65 PL
Research: View Coin
Owner Comments
Total Graded: 2088
Total Prooflike: 4
Percentage: 0.1916%

The census reports 4 graded prooflike examples, but looking through the Heritage archives proves that at least one of them is a resubmission (my present example, actually makes two appearances in the archives, in two different slabs with different numbers). All of them are from 1867, and they all grade very high (in the 65 to 66 range). Specialists in shield nickels will tell you that, especially in the early years, prooflike examples are common. However, having looked at enough of them in search of a suitable example for my set, these “prooflike” coins are really coins which have prooflike tendencies, but which rarely exceed semi-prooflike status. They are attractive coins, for sure, but if they do not meet the minimum requirements for the prooflike designation, then they cannot be called prooflike.

My coin is a stunning example of the With Rays type. Gorgeously reflective fields are characterized by die polish throughout. This is a late die state coin, but it is well struck for the type. The shield nickel series is well known for its plethora of varieties, and this one is no exception. It sports a F-04 repunched date, and the repunched 1 is clearly and easily visible in my pictures. All in all, this is a fantastic coin, and one I am very proud to add to my collection.
Slot:
Origin/Country: United States
Design Description: FIVE-CENT PIECES - SHIELD
Item Description: 5C 1871
Grade: NGC MS 65 PL
Research: View Coin
Owner Comments
Total Graded: 6152
Total Prooflike: 2
Percentage: 0.0325%

Prooflike Shield Nickels, like most nickels, are quite rare. I have heard from shield nickel specialists that PL Shields are more common than the census numbers indicate, because many of them had not been submitted. I, however, disagree. I have seen many semi-PL shield nickels, but very few of them have the full reflectivity and noticeably mirrors that are required for the designation. Of the 2 examples graded of the No Rays type, my example is by far the highest graded (the other one is a 62PL). Both of these examples are from 1871, which leads me to believe that an old proof die may have been used, or a die that was initially intended to be proof.

My coin has deep, water mirrors with excellent cameo contrast. The coin is a shimmering gem, and one of the nicest Shield Nickels I have ever seen. There are minor mint made planchet flaws near the rims, but they do not detract significantly from the eye appeal of this coin. As NGC has denoted, this coin has a star for its superior eye appeal (with the cameo contrast) and the deeply reflective mirrors (which just miss being DPL).
Slot:
Origin/Country: United States
Design Description: FIVE-CENT PIECES - LIBERTY HEAD
Item Description: 5C 1883 NO CENTS
Grade: NGC MS 65 PL
Research: View Coin
Owner Comments
Total Graded: 6450
Total Prooflike: 1
Percentage: 0.0155%

While the 1883 No Cents nickel is the most common date of the Liberty Nickel series, it is still an intriguing coin. Rumour has it that a number of the nickels were plated in gold by racketeers, and passed off as $5 coins. Thus, the word cents was added to the reverse to prevent this. These racketeering nickels can sometimes be found with traces of gold plating still clinging to them.

This one year subtype is exceedingly scarce in prooflike. Liberty nickels in general are quite scarce, but being a one year only type, the chance for prooflike coins is that much smaller. Out of the 16 prooflike coins graded by NGC for the entire series, my example is the only one of the No Cents subtype. I have seen a couple other PL No Cents nickels in ANACS holders, but it was questionable whether they would garner the PL designation at NGC.

This coin is absolutely spectacular. CAC gave it the green bean, which really means nothing to me but some people care about it. The coin is mark free, with beautiful deep mirrors and a strong cameo effect. The strike is sublime with only the barest hints of weakness on the lower left stars and some of the vegetation on the reverse. The color is a delicate icy blue, with little to no toning. There is minor spotting in places, but it is insignificant. While prooflikes in general are difficult to evaluate through photos, this is one that you definitely need to see in hand.
Slot:
Origin/Country: United States
Design Description: FIVE-CENT PIECES - LIBERTY HEAD
Item Description: 5C 1902
Grade: NGC MS 64 PL
Research: View Coin
Owner Comments
Total Graded: 18550
Total Prooflike: 15
Percentage: 0.0809%

Prooflike nickels are very scarce; prooflike Liberty nickels are even scarcer. Because nickel is such a hard metal, it tended to wear dies faster than other metals. Thus, the fragile surfaces of the die necessary for prooflike coins would be degraded faster than other metals. The Liberty head nickels are divided into two subtypes: the first, minted only in 1883, is the no CENTS version. The type shown here, minted 1883 until the series ended in 1912, had the word CENTS added under the wreath on the reverse.

I was quite pleased to add this coin to my collection. It is the highest graded of 2 for the date, and while the mirrors aren’t as deep as other coins I have, it is unmistakably prooflike. The obverse mirrors are clearly stronger than the reverse. The coin has light die polish under the devices especially on the reverse. Minor striking weakness on the obverse stars is made up for by the excellent strike on the reverse. I’m guessing this is a coin which was repolished to mirror finish later in die life, rather than having been created this way. I won it at a Heritage auction for a fair price in 2010. No new PL’s have been graded in the intervening years which means this coin is a truly scarce specimen.
Slot:
Origin/Country: United States
Design Description: FIVE-CENT PIECES - JEFFERSON
Item Description: 5C 1942 S
Grade: NGC MS 66 PL
Research: View Coin
Owner Comments
Total Graded: 55443
Total Prooflike: 16
Percentage: 0.0289%

An interesting subset of the Jefferson nickel series is the War Nickel, made from 1942-1945. Nickel and copper were important wartime metals, and so the mint was forced to use silver for the nickel. These coins were given large mintmarks over the dome of Monticello to distinguish them. Today, they are incredibly popular with collectors. San Francisco minted nickels sometimes exhibit prooflike characteristics due to polishing the dies and placing them back in service. The effect is seen on many different series of coins from the 40’s and 50’s, and can be quite charming. Fully prooflike coins are rare, but semi-PL coins can be found with a bit of searching.

I have added a 1942S to my set. This is by far the most common date for PL war nickels, with 11 of the 16 graded (two of those being FS examples). My coin is tied for finest known. It has very nice mirrors, with the characteristic die polish covering the surfaces. The strike is average (which means it is soft). There is a light patina covering the coin, which, with the reflective mirrors, gives this coin a very attractive look.
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