When the US Mint resumed the production of proof coins in 1936, the first Buffalo nickels of that proof series were struck with a satin finish similar to the matte proofs of a generation earlier. This did not prove popular with collectors, and the satin finish was quickly terminated in favor of a brilliant proof finish, and some collectors categorically refer to the satin proofs as Type 1 proofs while the Brilliant proofs are dubbed Type 2. About 2,000 are estimated to exist, with most encountered in the PR64-67 range. Several dozen have been certified as PR68, and PCGS has graded two as PR69.
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