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of BU Franklins I acquired, 100 rolls of 1963-D''s, a total of 2,000 coins, resulted in financial disaster for me and my partner. Oh, the bag quantity was original all right. All the rolls were in their original bank-wrappings, and had obviously never been unwrapped. The coins in these rolls were beautiful, bright blazers. We submitted the 125+ nicest coins coin to PCGS and NGC for grading, figuring if we got 40 or 50 MS 65''s we''d make a profit. The result? 5 MS 65''s!! The rest graded either MS 64 or MS 63. Why? The majority had a couple too photos many bag marks (a common problem with BU Franklins), or coin had a bit too much pitting on the high-points of the devices (another common problem with BU Franklins), or were too softly struck to grade MS 65 (another photos common problem with BU Franklins, or finally, had some very light hairline scratches, the result of having passed through a coin counter! By comparison, a single roll of late date Walking Liberty half dollars would likely have more gems among the 20 coins than the 1963-D coin Franklins did among the 2,000. Despite having populations a fraction of the Walking Liberty halves in gem condition, gem Franklins are photos currently priced coin well below the levels Walkers are currently selling at. Additionally, if one wishes to compare the populations of untoned, brilliant MS 65 Walkers to untoned, brilliant MS 65 Franklins, the population differences are even more striking in favor of the Franklins!
devoted to it. Here is one final, very important similarly between the Morgan dollar series and the Cameo Proof series: In grading prooflike Morgan dollars, the two largest grading services in the nation, PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), offer two grades of prooflike for that series - "DMPL" (Deep Mirror Prooflike) - for the very earliest strikes off the business die, and a simple "PL" (Prooflike) - for the slightly later strikes. PCGS and NGC now offer a similar delineation for all proof coinage from the 1950 to 1970 era. As of early February, 1992, PCGS offers two cameo designations for early strike cameo proofs - "DCAM" (Deep Cameo photos - roughly equivalent to what we refer to as "ultra-heavy") - for those cameo proofs which were the very earliest strikes off the proof die, with the heaviest contrast, and a simple "CAM" (Cameo) designation for those coins which were slightly later strikes, but which still coin possess photos significant cameo contrast. NGC instituted their own two-tier system similar to PCGS'' in the spring of 1995. With PCGS and NGC now involved, novices will for the first time have their coins recognized by the most widely used grading service in
the nation. Subsequent population reports coin emanating from PCGS will reveal how very scarce the photos majority of proof issues are in cameo. With the release coin of the cameo proof book, and with PCGS'' and NGC''s leap into this market, cameo dealers and collectors will now have accurate, hard data with the release of these services'' grading reports to back up what we long-time cameo dealers and collectors have known for years - that exceptional cameo examples of many dates are extremely rare, and are truly among the best values in U.S. numismatics today. Most collectors and dealers are very familiar with BU Franklins. The majority of uncirculated BU Franklin half dollars on the market are extremely photos baggy, coin and/or possess very heavy, unattractive brown or gray toning. These are ugly coins. The Franklin design is a work of art in its simplicity. The bust photos of Franklin on the obverse, coin and the famous Liberty bell on the reverse, are beautiful when their surfaces are clear and unblemished! In addition, many Franklins were issued by the mint in cardboard mint sets. The sulfur from these paper products often created some of the most beautifully toned coins in all of U.S. coinage! While rare, gem photos Franklin halves
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