Morgan Silver Dollar
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Silver proof coins were special samples of a coin in early times. They were the issues of the coin which were produced to check the dies and were also used for archival purposes. A special polish and tie are used to make a these types of coins. Here is some information about the making of silver proof coins.
For giving a fine detail of the image on the coin the die is struck more than once and thus the metal gets forced into the shape of the die. Not only proof coins but all the coins made are struck more than two times by the dies used for making a silver coins.
Silver coins are graded also. Nowadays, grades used for coins are similar to the ones used for uncirculated coins. To specify a proof coin, 'PR' or 'PF' is used as an attribute which means 'proof'. Generally the grades are PR 60 to PR 70, the rarest being PR 70. However, there is also a chance that a coin be graded lower than PR 60 because of mishandling or wearing while usage.
These coins can also get darkened of tone. Silver proof coins are expensive as the government which mints them sell them at a very high price due to the extra time and efforts involved in producing them. The government of US has limited the production of these coins also. Now only a few specimens exist. Therefore, an uncirculated non proof coin will be less expensive than one that is of the same date.
The government marks a letter on the silver coins known as mint marks which identifies the state which produced it. So an interested collector can buy the silver proof coin of the desired state. Silver is also known to be a poor mans gold because of the price difference between the two rare metals.
It's good to learn about silver and it's history in order to understand and create a better silver collection!
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Morgan Silver Dollar