A hot topic amongst collectors is finally being put to rest
Hiding In Plain Sight
In the realms of British Pre-Decimal numismatics few releases get collectors as hot under the collar as VIP Proof. For some the differentiation is frighteningly obvious (1960 VIP Proof) whereas others have set collectors against graders in a battle to have that ever-elusive VIP moniker to the slabs label. Following a back and forth with NGC they have since added a 'frosted shields' category to the census but a singular 1953 VIP has also been added in the process. As they are one and the same it would appear extremely confusing to attempt to make this differentiation.
Below we see a 1953 VIP proof crown with fully frosted shields. Above we see an Ultra Cameo example of a standard proof crown. When placed side by side the difference is obvious to anyone.
A Frosty Reception
Perhaps the most contested VIP proof at present is the 1953 VIP crown. The 1953 proof crown has grown rapidly in popularity on the back of The Queen's Platinum Jubilee with collectors feverishly acquiring sets en masse to find Ultra Cameo gems that have alluded so many. The VIP proof version of this crown is ultra rare assigned as R5 by Maurice Bull (Bull 4333 / ESC 393H) meaning 5-10 are known to exist. This then begs the question how does one tell a standard proof apart from a VIP proof. The answer is extremely simple... frosting.
Very Important Proof
Frosted shields are all that differentiate...
All grading houses are currently refusing to grade 1953 proofs as VIP. This may seem somewhat broad brush, however, there is a very good reason behind this. In the past coins have been graded with the incorrect VIP designation. Frosted shields are all that differentiate a 1953 VIP proof from a standard proof. As can be seen in the side by side images above on a standard proof (UCAM) the fields directly behind the shields are polished; on a 1953 VIP proof they are FULLY frosted. This may seem like such an insignificant difference, however, it makes a significant difference with regards to value.
Above we see a 1960 VIP proof crown with fully frosted shields. This is widely accepted as a VIP strike given this was only ever struck in Prooflike finish for the New York Exhibition. It is easy to see here that the shields are markedly different to that of a standard proof like or circulation crown of the era.
Stalemate
Whilst this exceptionally obvious difference has been pointed out, that is not to say it will lead to coins achieving the VIP designation. Many coins are in circulation that have been incorrectly designated as VIP when they are in fact simply Ultra Cameo examples of proof crowns. Neither of the main grading houses contain a census entry for 1953 VIP proof crowns, the VIP designation was added underneath the coin description on slabs, this in theory suggests that they were simply normal coins given to VIPs. This is an incorrect assumption as they were coins minted specifically for this purpose and are different to the standard 1953 proof crowns. They differentiate not only due to the frosted shields, but also the box they were presented in. The true VIP crowns were presented in a wooden box covered in maroon morocco goat leather, the top being gilded with the Queens cypher.
Now to confuse matters more there are coin sets out there in standard boxes that have presentation notes inside of them. These coins are NOT VIP coins, they just happened to be given to VIPs. They are standard proof sets that someone important just happened to be given. It has been suggested that VIP sets came in black boxes, once again this is untrue. There have been instances of the VIP proof crown being presented in a singular wooden box covered in a deep navy morocco goat leather, the queens cypher appears inside the box applied to the white silk lid lining.
So it continues...
To correct this monumental mistake would not be financially viable and, therefore, it is easier to simply deny even genuine VIP proof crowns the ability to be designated as such. Bull states these crowns were minted between 1953-1963 in minuscule numbers. If you have fully frosted shields you have a 1953 VIP... but good luck grading it as such!
Very interesting. Thanks for sharing!