PCGS made an announcement that starting July 1st everything that they grade will now be eligible for PL designations when warranted. This is something that people have been asking for for many years and tip of the hat to the new regime for listening and deciding to make the change.
We already have matte proofs, mirror proofs, and reverse proofs.
PCGS is doing a very good thing here. There are many classic coin series (including gold) which have prooflike contrast and reflective fields, but cannot be considered "PL" just because PCGS did not allow them to be attributed as PL. If you look through old high-end auction catalogs, you will find many coins other than Morgans that had "prooflike" in their descriptions.
The "prooflike" appearance is often a result of fresh die pairs being used, and the more coins those dies strike, the less prooflike they tend to get. But that's not always the case -- with Morgans, for example, worn dies were sometimes polished to remove clash marks and abrasions, resulting in prooflike surfaces on coins that would otherwise show features of later die states such as cracks and deep clashes that won't polish out.
Proof itself refers to the method of striking, not the surfaces of the coin, so there are many Proof issues with MS-like surfaces; if they show signs of actually entering circulation they become "impaired" proofs and receive AU or lower grades, but they're still Proof strikes.
This will be beneficial for gold collectors and collectors of series such as the Liberty Seated, Barber, and especially Mercury/Walking Liberty coins, which previously have been unable or very rarely able to achieve PL designations even in MS66 and MS67 grades that show clear prooflike elements. It also has the (good or bad) side effect of getting collectors who own non-designated coins which they consider Prooflike to resubmit their coins for a shot at the new designation. I don't believe NGC currently offers what PCGS is about to start doing, so it might even draw in some reholders from NGC, ANACS and IGC for a PCGS PL holder.
World coin collectors will also benefit as previously PL was not available or very rarely available on many popular world coin series such as German States thalers and aerlier Central/South American crown-size coins (Bolivares, Reis, Dineros, Pesos, Soles, Reales, etc.)
Quote: So PL is one step up from MS?...MS what? Ridiculous!
As nicely as I can say it, you really need to do some research on this. Examples have been posted, links have been posted, it's time for you to put in some effort. Calling it ridiculous is very uneducated