1957 Perth Proof Penny Brilliant type PCGS PR62RB

While the McDonald catalogue briefly mentions that two different types of 1957 proof penny exist, the reasons for their existence and their individual rarities are not explored. Differences in nomenclature between various professionals, and the fact that PCGS does not yet distinguish between the two types has only lead to more confusion. In any case, what is clear from observing market appearances and from statistical research by numismatist Dr Paul M. Holland, the so-called “brilliant” or “mirror” proofs (like the coin photographed above) are around twice as rare as the “frosted” proofs. (The brilliant proofs are not frosted and are usually covered with die polishing lines; they look more like the Perth proofs of 1955 and 1956. The frosted proofs resemble the later Perth proofs of 1959 onward.) In his 2005 article in the Journal of the Numismatic Association of Australia, Dr Holland explains that the rarer brilliant type were struck in 1957, while the more common and typical-looking bright type were struck in 1959. A mere 470 pieces were struck in 1957, and can be assumed to be of the brilliant finish (as the minting process of the frosted coins was not perfected until 1959). Now, here’s the anomaly: With a mintage of just 470 pieces, the 1957 brilliant proof is comparable in terms of grade and rarity to the 1955 and 1956 Perth proof pennies, so why do the 1955 and 1956 proofs sell for thousands of dollars while the 1957 brilliant proof sells for hundreds in comparable grade? There are a few reasons, in my view. Firstly, the low mintage figure is not published in any of the price guides, so collectors don’t know how hard they are to find; secondly, the nomenclature amongst the collecting fraternity is inconsistent (some use the term “brilliant”, others call it the “matte” type, while others still describe it as the “polished” type); thirdly, PCGS does not yet recognise the two different types; and finally, most importantly perhaps, collectors have not yet made the link between the rarity (and corresponding value) between the 1955 and 1956, and the 1957 brilliant type. To put it plainly, if the 1955 and 1956 are worth thousands, then the 1957 brilliant type should be as well. Time will tell if the market catches up with the fundamentals, but if you’re prepared to take a calculate bet on this issue, without outlaying too much, then this is your coin. Professional Coin Grading Service is the global leader in coin authentication and grading. With over 60 million coins graded and counting, PCGS is trusted by collectors, dealers, and investors to certify authenticity, protect value, and elevate market confidence. This is a direct conversion of the 70-point PCGS grade to a 10-point scale, intended to present the grade in a more intuitive format for newer collectors. It is not our personal opinion or an attempt at regrading the coin to a different standard. To understand how the 70-point scale converts to a 10-point scale, [click here](https://drakesterling.com/en/page/the-ten-point-coin-grading-scale). While the McDonald catalogue briefly mentions that two different types of 1957 proof penny exist, the reasons for their existence and their individual rarities are not explored. Differences in nomenclature between various professionals, and the fact that PCGS does not yet distinguish between the two types has only lead to more confusion. In any case, what is clear from observing market appearances and from statistical research by numismatist Dr Paul M. Holland, the so-called “brilliant” or “mirror” proofs (like the coin photographed above) are around twice as rare as the “frosted” proofs. (The brilliant proofs are not frosted and are usually covered with die polishing lines; they look more like the Perth proofs of 1955 and 1956. The frosted proofs resemble the later Perth proofs of 1959 onward.) In his 2005 article in the Journal of the Numismatic Association of Australia, Dr Holland explains that the rarer brilliant type were struck in 1957, while the more common and typical-looking bright type were struck in 1959. A mere 470 pieces were struck in 1957, and can be assumed to be of the brilliant finish (as the minting process of the frosted coins was not perfected until 1959). Now, here’s the anomaly: With a mintage of just 470 pieces, the 1957 brilliant proof is comparable in terms of grade and rarity to the 1955 and 1956 Perth proof pennies, so why do the 1955 and 1956 proofs sell for thousands of dollars while the 1957 brilliant proof sells for hundreds in comparable grade? There are a few reasons, in my view. Firstly, the low mintage figure is not published in any of the price guides, so collectors don’t know how hard they are to find; secondly, the nomenclature amongst the collecting fraternity is inconsistent (some use the term “brilliant”, others call it the “matte” type, while others still describe it as the “polished” type); thirdly, PCGS does not yet recognise the two different types; and finally, most importantly perhaps, collectors have not yet made the link between the rarity (and corresponding value) between the 1955 and 1956, and the 1957 brilliant type. To put it plainly, if the 1955 and 1956 are worth thousands, then the 1957 brilliant type should be as well. Time will tell if the market catches up with the fundamentals, but if you’re prepared to take a calculate bet on this issue, without outlaying too much, then this is your coin.