(Santa Ana, California) – Any and all qualifying mint state United States and world coins, as well as tokens and medals submitted to Professional Coin Grading Service, are now eligible to receive the desirable designation, Prooflike (PL).
According to PCGS standards, a coin’s surface is Prooflike when there is a clear reflection in the fields on both sides as viewed from two to four inches away. A cloudy effect or striations may impede the reflectivity.
Ongoing Expansion of Eligibility
The PL designation was available first for qualifying Morgan silver dollars when PCGS opened for business in February 1986. Since then, additional U.S. coin denominations and types have been added, such as California fractional gold and world coins, in the past year.
“As of July 1, all mint state coins, tokens and medals, U.S. and world, that meet the PCGS Prooflike standards now are eligible for PL designation,” said Brett Charville PCGS President.
The change in eligibility for the designation came about through feedback from the public revealed confusion among collectors.
“During the Ask Me Anything we conducted on our U.S. Coin Forum, it became clear that there was confusion regarding what coins are eligible for Prooflike designation and a desire for expanding this designation to all mint state coins. We decided to take a hard look at Prooflike designations, and this announcement is the continuation of addressing the requests of our community in The Year of the Customer,” stated Charville.
Although, as PCGS Director of Numismatics Mike Sherman explained, the occurrence of Prooflike conditions on vintage coins is infrequent, other than Morgan Dollars, the company felt it was important to recognize the coins that do qualify.
Attributes are Key
"Two perfect cases in point are the PCGS MS68PL 1899-S Liberty Head $5 and PCGS MS65+PL 1871-CC Dime. They are dazzling examples that ideally display the attributes we are looking for,” Sherman said.
The first notable coin to receive the PL designation is the 1899-S Liberty Head $5 gold coin. Struck in San Francisco, the coin exemplifies the incredible quality of the mint during that time with nearly flawless fields. The grade of PCGS MS68PL makes it one of the finest known.
The second recipient of the PL designation, the 1871-CC 10C recently graded MS65+PL, is by far the finest known of this scarce date with an estimated survival of around 100 pieces.
“The surfaces are fully PL, where all other mint state examples display a more satiny luster. Calling this amazing, rare coin PL and having it be a highlighted example for the new PCGS PL program was an easy choice,” said PCGS Director of Numismatic Education and Outreach, Steve Feltner.
For information about submitting coins to PCGS for authentication and grading visit the company's web site: www.pcgs.com/submissionguide.