Grading Comparisons

Yeah, I used to think the same thing, until I learned that generally it's tougher to get an MS65 coin than a PR65 coin. The proofs should all be at least 65s because of the way they are struck. Just my laymans brief explanation.

I feel like there are also more collectors of business strikes than collectors of proofs. Supply and demand drive prices, not condition or rarity.

Absolutely right jbuck, but if no one collects it, the price will be low. Look at 1909 S VDB cents. There are actually quite a few out there. But EVERYONE wants one.

I was just pointing out that the demand for Franklin Proofs, and Franklins in general, is decidedly lower than for many other series. How else do I buy a coin with mintages around 4 million, for melt? And this is after a couple rounds of silver prices causing who knows how many to be melted.

I accept your correction

Just to restate what was mentioned above:

Proofs are made for collecting, not spending. So most of the Proofs out there are still in great shape. Very few have circulated. So finding a high grade one is actually more common than finding a circulated one!

MS coins are coins intended for circulation that are still in "mint state", meaning not ever used in circulation. Not as many of these exist because people would have had to save them out of bank rolls or from their change before they had a chance to make it far.

So it's kind of like a proof is expected to be PF-65, but for a regular strike it unexpected that it would be MS-65.

For some years and coins very few proofs were made so that can alter the equation.

1963 Franklins are relatively scarce with Full Bell Lines in general, and equally scarce in MS65 and above regardless. With or without full lines, there are only a hundred or so known in grades over MS65. PR65, on the other hand, is not a particularly good grade for a Proof and between them PCGS and HGC have over 15,000 Proof 1963 Franklins graded higher than PR65.