problem coin
Any coin that has been cleaned, damaged or has other undesirable traits.
proof
Coins struck mainly for collectors as special presentation pieces using specially polished or otherwise prepared dies.
Problem coin
A coin that has been cleaned or damaged or has other unfavorable characteristics. A problem coin is usually valued at a small fraction of other examples of the same coin having no problems.
Processing ...
If the problem coins are detected in these processes what happens next?
Unfortunately, it is all too common to receive overgraded and/or problem coins from some mail order sources.
Bodybags (doesn't grade) problem coins (major problems) -- no refund of fee.
With regular service, coins are initially graded by two graders independent of one another. If there's disagreement, a third grader grades the coin.
In this case, the coin isn't assumed to be a problem coin (unless stated.) This usage is archaic and is discouraged in the modern coin market, but it is sometimes seen on coins graded prior to about 1980.
Reference to a wide range of damages that a coin may have and that must be included in the description of the coin's grade, eg. and uncirculated coin with an unsightly and unexpectedly large rim gouge is a problem coin.
Still, the spread (the difference between what an investor can buy and sell for at any moment) on "perfect" Gold Maple Leafs is about $4 wider than on Gold Eagles. However, the U.S. Mint's new 24-karat gold coins need not be problem coins.
Mint from 1983-84 and 1986-97 containing one or more proof commemorative coins released in the same year, as well as a proof cent, nickel, dime, quarter and half problem coin Any coin that has been cleaned or damaged or has other undesirable ...
The bargain hunter in circulated Indian Cents will undoubtedly wind up with a lot of problem coins, while the quality conscious collector will probably have to pay more, but will get the nice problem free coin.
I didn't buy the coin as an attractive example of ancient numismatic art but as a problem coin illustrating an interesting effect.
 See also: Coin, Copper, Collector, Grade, Strike
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