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I believe it is the highest quality for a coin, a prf-65 liberty nickel, for example, could auction for about $600

CorrectionPR65 describes a specific grade of a specific type of coin. PR stands for Proof, which means that a coin is specially struck to give it (usually) a mirror-like finish, and is sold to collectors rather than used for spending. 65 is a numeric grade that further describes the coin's quality.

Numeric grades for proof coins as well as for uncirculated coins (designated MS, or Mint State) normally run from 60 to 70. 60 is the lowest acceptable condition. Of course MS60 or PR60 are still very nice, but not as good as a higher value. In addition very few coins are so well-struck that they qualify for a grade of 66 or above. That means PR65 describes a coin that's (a) a proof strike and (b) almost but not quite the highest possible quality.

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