What exactly are specimen coins?

Hi guys, I frequently see silver coins advertised as specimen (always in Aussie) what is the difference between specimen and BU to me they look identical.

 

My understanding is its a fancy term for BU, they're just dressing it up

 

The terms are all mushed and blurred these days.

BU, brilliant uncirculated, are uncirculated coins.

Specimens historically are BU coins produced to a higher standard. It was a grading term used far more years back, these days we just tend to call them proofs.

Not a perfect explanation but it's close enough

 

That's exactly what I thought.

 

This what Perth says:

Specimen Coin
A collectable coin akin to a bullion coin with a frosted table, but also featuring one or more special numismatic treatments, including colour, gilding, antiquing, or the insertion of gems.

http://www.perthmint.com.au/mintage_policy.aspx

 

One interpretation that hasn't always been, 1990s Perth mint must be spinning in its grave reading that.