Business strikes are coins which were struck by the U.S. Mint for general circulation in business and commerce. Other than normal minting procedures, no special care was taken in the manufacture or preservation of these coins. Those business strikes that were never circulated are referred to as "Mint State".

Proofs are specially struck coins in which the dies are polished and the planchets (blank coins) selected because they lacked imperfections. Several blows from the dies produce full detail of the design and "mirror-like" surfaces. Historically, these coins were not intended for general circulation purposes but were struck as presentation pieces for officials of the government, mint, and collectors. Proof designates method of manufacture rather than condition.