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Pierre_Henri

The first Kruger Rands circulated as one rand coins ...

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Pierre_Henri    10
Pierre_Henri

Just joking - but this is what the CIRCULATED grade suggests ...

 

1 Oz - *#* 1967 Krugerrand 1 oz NGC Slabbed AU 58 *#* for sale in Johannesburg (ID:72537569)

 

The coin was maybe (mis)handled by the children of the owner (or owners) over the years, so it is not UNC anymore.

 

I have also seen Proof 58 coins graded by NGC- but never understood that? What is the difference between a PF58 and an impaired proof?

 

Where does it crosses the line from being proof to being an impaired proof? PF55? PF53?

 

How low must a proof coin go before being labeled impaired?

 

Pierre

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ZARBOY    10
ZARBOY

Hi Pierre

 

You almost gave me the fright of my numismatic life. As I opened this thread, I believed you have once again discovered some article or proof that Kruger Rands circulated as one rand coins. I truly could not believe it.

 

Regarding the grading of impaired proofs. It has changed over many years. The original Sheldon Scale developed did not make provision for the grading of Proof Coins. It was adapted to make these provisions. Any marks of any kind will have a detremental effect as to the grade of that proof coin, much more than in business strike.

 

The only marks slightly acceptable is some kind of form is propably lint marks, esspecially on older 19th-century issues when most proof dies was wiped with an oily rag. This sometimes left threads, bits of hair, lint and so on remaining. When a proof coin was struck from these "lint dies", an incuse or recess impression of the debris would appear on the proof piece again.

 

NGC started with the grading of lower grade proof coins as PF58 and lower. This is very contradicting as sometimes they would return proof coins as "impaired proofs" and other times as lower grade proofs. I am as yet to understand the logic??? Ken Bresset revised the Official American Numismatic Association Grading Standards for Proof Coins and included the lower grading of proof coins or impaired proofs.

 

So, in this way NGC now again conforms to the ANA Standards, but also only halfway. It is very interisting to note that only the following grades in proof originally existed; PF70, PF65, PF60.

 

Mr. Ken Bresset in his revised study and standards for ANA has changed these grades to include PF67 and PF63. As ANA Standards today read;

 

Proof-70. A proof-70, or “perfect proof,” has no hairlines, handling marks, or other defects; in other words, a flawless coin. Such a coin may be brilliant or may have natural toning.

 

Proof-67. A grade midway between proof-70 and proof-65 and would be noticeably finer than proof-65.

 

Proof-65. Proof-65, or “choice proof,” refers to a proof that may show some very fine hairlines, usually from friction-type cleaning or friction-type drying or rubbing after dipping. To the unaided eye, a proof-65 will appear to be virtually perfect. However, 4X magnification will reveal some minute lines. Such hairlines are best seen under strong incandescent light.

 

Proof-63. A coin midway between proof-65 and proof-60.

 

Proof-60. A coin with some scattered handling marks and hairlines visible to the unaided eye

 

Interesting to note that although the above is the official grading standards of the American Numismatic Association as revised by K. Bresset and A. Koshoff, it is not followed by the grading companies.

 

As to end this reply, any proof graded lower than PF60 is an impaired proof and such a grade should have a detail describing the impairity of that specific proof piece.

 

Regards

Thomas van der Spuy

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Pierre_Henri    10
Pierre_Henri
Hi Pierre

 

You almost gave me the fright of my numismatic life. As I opened this thread, I believed you have once again discovered some article or proof that Kruger Rands circulated as one rand coins. I truly could not believe it.

 

Regarding the grading of impaired proofs. It has changed over many years. The original Sheldon Scale developed did not make provision for the grading of Proof Coins. It was adapted to make these provisions. Any marks of any kind will have a detremental effect as to the grade of that proof coin, much more than in business strike.

 

The only marks slightly acceptable is some kind of form is propably lint marks, esspecially on older 19th-century issues when most proof dies was wiped with an oily rag. This sometimes left threads, bits of hair, lint and so on remaining. When a proof coin was struck from these "lint dies", an incuse or recess impression of the debris would appear on the proof piece again.

 

NGC started with the grading of lower grade proof coins as PF58 and lower. This is very contradicting as sometimes they would return proof coins as "impaired proofs" and other times as lower grade proofs. I am as yet to understand the logic??? Ken Bresset revised the Official American Numismatic Association Grading Standards for Proof Coins and included the lower grading of proof coins or impaired proofs.

 

So, in this way NGC now again conforms to the ANA Standards, but also only halfway. It is very interisting to note that only the following grades in proof originally existed; PF70, PF65, PF60.

 

Mr. Ken Bresset in his revised study and standards for ANA has changed these grades to include PF67 and PF63. As ANA Standards today read;

 

Proof-70. A proof-70, or “perfect proof,” has no hairlines, handling marks, or other defects; in other words, a flawless coin. Such a coin may be brilliant or may have natural toning.

 

Proof-67. A grade midway between proof-70 and proof-65 and would be noticeably finer than proof-65.

 

Proof-65. Proof-65, or “choice proof,” refers to a proof that may show some very fine hairlines, usually from friction-type cleaning or friction-type drying or rubbing after dipping. To the unaided eye, a proof-65 will appear to be virtually perfect. However, 4X magnification will reveal some minute lines. Such hairlines are best seen under strong incandescent light.

 

Proof-63. A coin midway between proof-65 and proof-60.

 

Proof-60. A coin with some scattered handling marks and hairlines visible to the unaided eye

 

Interesting to note that although the above is the official grading standards of the American Numismatic Association as revised by K. Bresset and A. Koshoff, it is not followed by the grading companies.

 

As to end this reply, any proof graded lower than PF60 is an impaired proof and such a grade should have a detail describing the impairity of that specific proof piece.

 

Regards

Thomas van der Spuy

 

Thank you Thomas!

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