The finish on Australia's annual wedge-tailed eagle silver bullion coin is referred to as "brilliant uncirculated." It features brilliant devices with frosted fields, except for the mirror-like finish of the band around the rim of the coin that features the coin's inscriptions.
This year, 2017, the
Perth Mint struck what it describes as a high-relief reverse proof version of the current design. It features brilliant devices with frosted fields, except for the mirror-like finish of the band around the rim of the coin that features the coin's inscriptions.
A side-by-side comparison shows two coins with the same finish but one is described as "uncirculated" while the other is considered "reverse proof.' You can see the strike type designations specified on the label of the graded examples of each coin shown below - "MS 69" vs. "PF 69".
I have to say, in hand, the finish on the two coins appears to be identical. When I've shown the bullion coins of the series (2014 to date) to other collectors at my local coin clubs, I've generally referred to their finish as "reverse proof" because that's how they appear to my eyes. The release of the high-relief reverse proof coin this year confirms what my eyes have been telling me.
I realize that the high-relief reverse proof coin likely meets the criteria for a proof coin: 1) struck using specially-prepared polished dies and planchets, and 2) struck more than once in order to bring up the design's relief (vs. one strike for the bullion piece). But, to the unaided eye, they really do seem to share the same finish.
My images aren't great, but I believe they show the closely-matched appearances of the two versions of the coin.

