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 Replies: 11 / Views: 19,095 |
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Valued Member
United States
62 Posts |
I like to collect coins that were intentionally struck for common usage (just my preference).
I assume some of my business strikes that are high grade really never made it to circulation and were bought at the bank before they were distributed, etc. -- but that is OK as long as they were intentionally made for the public for circulation.
Now I look at Canadian Quarters and I see there is a category PL (Proof Like)...
Are those business strikes coins that are just so nice they get a special PL? Are they Proofs that are less than Proof quality? Were they made for circulation or are they they same idea as Proofs (made only for the collector market)?
Thank you!
Edited by mbird
09/17/2010 5:40 pm
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Pillar of the Community
United States
2120 Posts |
Proof like means its a circulation coin made with work out (or no longer needed) proof dies. Since the die is specially made but only pressed once on the BU coins, it creates a "proof like" field and devices, but since it isn't pressed twice, or as hard as a proof, it only resembles it.
Technically PL coins were meant for circulation because they were used on normal, non-proof, planchets and in the same manner as circulating coins.
HTH
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Valued Member
Canada
166 Posts |
Hello,
Proof like coins were intentionally made for the collector market. They are not double struck under higher pressure as traditional US proof coins, but were struck on polished planchets from selected dies and not touched by hand until distributed (in special packaging) to collectors, at a premium price (often not too great a premium). Because they were never touched by hand, like US proof coins, it is possible to find Canadian PL coins in grades unheard of (like ICCS 67 or PCGS 68) for "business" strikes intended for circulation.
I hope that helps.
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Bedrock of the Community
United States
12437 Posts |
That is not the correct definition of prooflike for US coins either, proof dies were occasionally reused but they are a very minor source of PL coins. Most PL coins are very early die state coins(but not all VEDS coins are are PL) or they can also be minted after dies have received a fresh resurfacing/polishing. Canadian PL coins are similar to the US SMS coins minted 1965-1967. |
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Pillar of the Community
United States
2408 Posts |
Era 1948-1968: "When striking proof-like coins the mint used regular dies, often ones used previously. The dies were cleaned and sometimes pickled in a bath of dilute nitric acid [...]" http://www.edmontoncoinclub.com/cameo.htmRegular dies... Interesting... |
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Moderator
 United States
6563 Posts |
mbird,
I apologize for the drama. I have removed all of the non-coin related material so we can get back to your question.
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Valued Member
 United States
62 Posts |
The article you listed ( http://www.edmontoncoinclub.com/cameo.htm) was very interesting! For me the deciding factor is intent -- what were the coins intended for: the general public as circulation or the collector market. So reading the article and the above posts I am thinking that PL and Proofs (US and Canada) are intended for the collector market -- is this a correct read? Another way to question it is: what is the life cycle of a PL coin -- does it get sold to the public via sets or directly from the mint? -- or do they get sold to banks and then distributed like circulation coins (I assume it is sets and the mint which would make me assign the intent as the collector market. Again, coins intended for general circulation is just my chosen preference -- I certainly respect and appreciate those who choose proof collections! Thank you! Edited by mbird
09/18/2010 10:21 am
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Valued Member
United States
83 Posts |
Here is the definition of a proof coin from PCGS and I will quote:
"A coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes."
I am not sure if the Canadian Mint uses the exact same method, but I am sure they might.
To add, I purchased 20 Canadian silver $5 coins back in 2005. I ordered them from a bullion dealer and when they arived I was quite surprised, they looked just like a US proof coin, mirrored field and frosted devices.
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Pillar of the Community
Canada
9862 Posts |
Canadian PL coins were intended for the collector market,not for general circulation.The sets were packaged at the mint and distributed from there to collectors and dealers.The mint did not use the term prooflike for these coins,they were sold as uncirculated sets and later as BU sets.The term PL was given to these coins in about 1954 by Charlton,and has been used by collectors since then.If coins intended for general circulation are your preference,then PL coins are not for you.
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Valued Member
United States
62 Posts |
Quote:
The mint did not use the term prooflike for these coins,they were sold as uncirculated sets and later as BU sets.The term PL was given to these coins in about 1954 by Charlton, and has been used by collectors since then. So now I understand PL and PRF and as I wish to collect business strikes intended for public circulation these will not be part of that collection. But I am now wondering about BU. So is BU a business strike coin that is very high grade or are they purposely made with the intent of selling to collectors like PL and PRF? The reason I ask is that at the shows I see dealers selling MS, PL, PRF, and BU (as well as all the lower grades). Also are all the MS grades business strikes intended for circulation -- so in other words are the only coins the mint makes with the intent of collectors PL and PFR or are there some MS grades in there too? Please remember my interest in all of this is I am trying to find out what grades have what intents so I can collect the best grade I can find (and afford :) that was intended for public circulation. It does not have to have circulated (it may be a great coin bought at the mint in a roll that was high grade) it just needs to have that history as intended for the public as a regular circulating coin. Maybe that sounds weird but each person has their own collecting ideas so... :) Thanks for your ideas and info! |
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Pillar of the Community
Canada
1051 Posts |
The mint makes proof-like (unc, nbu, pl), specimen, and proof coins for the collector coins/sets.
BU (to me) means brilliant uncirculated MS. I'd use it to describe something like an MS-62, or a lower
grade MS coin. Why? Because brilliant uncirculated sounds better than MS-60 (which is a grade that a lot of people will avoid, along with MS-62, as they are often "ugly" MS coins). For the higher grades,
the actual assigned grade is more important (ie. MS-65). The MS-65 is still, by definition, a BU coin,
but at the higher grades it's sort of redundant to add "BU". This is just my opinion, and yours as well as
others may vary.
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New Member
United States
19 Posts |
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Replies: 11 / Views: 19,095 |
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Posted 09/17/2010 7:19 pm
