Before 1971, the U.S. Mint produced Proof coins with dies that were chemically etched or sandblasted to impart a frosted finish on the coin's devices. To give the fields a mirrored finish, die finishers polished the flat areas of the dies to a smooth mirror consistency. Unfortunately, the set of Proof dies only produced about a hundred coins with deep cameo contrasting devices and mirror-like fields. As the dies continued to be used, the frosted devices on the coin slowly eroded due to the friction of the stamping process until the entire coin had a brilliant mirrored finish.
Collectors of early Proof coins prize coins with a high degree of cameo contrast. To obtain a cameo designation, both sides of the coin must have cameo contrast. If one side of the coin has a "deep cameo" and the other side only has a "cameo," then the coin will receive a "cameo" designation. "Deep cameo" is sometimes referred to as "ultra cameo".
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Deep Cameo + or Ultra Cameo ★
The "Deep Cameo +" (or "Deep Cameo ★") designation is only given to coins that exhibit a strong and intense frosted finish on the devices and have excellent eye appeal. This exceptional frosted finish on the devices is only seen on the first few coins that a new set of Proof die produces. Third party grading services may indicate this with a "+" or "★" (star) on the overall grade assigned to the coin.
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To receive a "Deep Cameo" (or "Ultra Cameo") designation a coin must exhibit strong and unbroken frosted devices on both the obverse and the reverse. A robust contrast between the mirrored fields and frosted devices must be consistent and undiminished in all areas. The degree of frosting on the devices will not be as intense as the "+" or "★" (star) designated coin. However, the frosting must be unbroken and complete. Even the smallest amount of brilliance or fade in the recessed areas of the design will prevent a coin from obtaining this designation.
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Coins that exhibit a light to moderate frosting on all the devices will receive a "Cameo" designation. There may be very small areas on the devices where the frosting fades and reflects light as almost mirrorlike. The coin may still qualify for cameo designation if it does not significantly impact the eye appeal of the coin. Both sides must have adequate levels of frosting to qualify for this designation.Continue to 5 of 6 below.
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Brilliant Proof (No Cameo)
Coins that have large patches of brilliance on the devices or the entire surface (including the devices) have a brilliant mirrored finish will be classified as "Brilliant Proof." Grading services usually indicate this designation by not including a suffix of "Cameo," "Deep Cameo" or "Ultra Cameo."
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Cameo Contrast Reference Sheet
In order to help you compare and discern the differences between the levels of Cameo contrast, I have prepared a reference sheet that illustrates the three basic categories of cameo contrast on Proof coins.