Grading Scale

Grading is a system by which one can describe the present condition of a coin in comparison to its original condition at the time of manufacture. From the moment coins are minted, coins get marks and blemishes from contact with other coins and from being in circulation. Grading gives collectors a common language by which they can describe their coins to others.

For many years, coins were graded only with words and adjectives. For example, terms such as choice, superb, and gem were used to describe uncirculated coins; but it was difficult for a reader of a catalog to get a mental picture of what the coins really looked like. Even professionals were confused.

Today, numismatists and all of the third-party grading services in the United States use a 70 point numerical scale that was adapted from an old method of grading Large Cents. It's called the Sheldon Scale after its originator, William Sheldon. This scale uses the first 59 numbers to deal with circulated coins and the last 11 numbers for uncirculated coins. Every number is not used.

Grade Description
Poor-1 A coin so worn that it is almost unidentifiable. It is not considered collectible except for extremely rare issues.
About
Good-3		 This coin is flat with little detail remaining ad with the rims worn down into the lettering.
Good-4 A heavily worn coin with flat details but with intact rims.
Very
Good-8		 A well-worn coin with the main features clear and bold.
Fine-12 This coin will have moderate to heavy even wear but will have bold design features.
Very
Fine-20		 You will find moderate wear on the high points of the design. All the major details are present.
Choice Very
Fine-30		 This coin shows light even wear on the surface and on the highest parts of the design. All the lettering and features are sharp and clear.
Extremely
Fine - 40		 The coin’s design is lightly worn. Traces of luster may show.
Choice Extremely
Fine -45		 The coin has wear on all the high points of the design but all of the design elements are sharp. The coin must have some mint luster to qualify for this grade.
About
Uncirculated – (AU50)		 The coin will have traces of wear on most of the high points but it must have at least half the original mint luster.
Choice About
Uncirculated- (AU55)		 Only the smallest amount of wear will be found on only the highest points of the design. Most of the mint luster must be evident.

 

In the circulated grades, One to Ten points separate each grade. In the uncirculated grades, every number represents a grade. Each of the following numbers corresponds to a word description:

In the Uncirculated grades, the numbers are preceded with the designation MS for Mint State. The grades used are MS60 through MS70 with MS60 representing a coin that is uncirculated but may have heavy marks and dull luster.

An MS65 coin will have few marks and none of them can be distracting. An MS65 coin will be very pleasing to look at. At the top of the scale would be MS70, which would represent an outstanding looking coin with absolutely no marks. This perfect grade is almost never used. Coins that fall into the near-perfect category are given the grades MS67, MS68 or MS69.

Proof coins are denoted with “PF” and are not released for general circulation. For these coins, the Proof refers to the method of manufacture and not condition. Proof coins are struck more than once on specially-made planchets using polished dies. This gives Proof coins a deep, mirrored surface with razor-sharp edges and imagery.

The Three Tiers of Grading Services - Coin grading and encapsulation services are generally regarded as belonging to one of three tiers:

  • Top Tier - PCGS and NGC
  • Second Tier - ANACS and ICG
  • Third Tier - All others, including ACG, INB, NTC, PCI, SEGS, SGS, etc.

For more in-depth grading scales used by the premier industry grading service, PGCS, click the link below:
     http://www.pcgs.com/grades.chtml



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United States Gold Bureau is a private distributor of United States Gold, Silver & Platinum coins and is not affiliated with the U.S. Government. Information on this web site is intended for educational purpose only and is not to be used as investment advice or a recommendation to buy sell or trade any asset that requires a licensed broker. As with all investments there is risk and the past performance of a particular asset class does not guarantee any future performance. United States Gold Bureau, principals and representatives DO NOT guarantee a profit or guarantee that losses may not be incurred as a result of following its coin collecting recommendations, or upon liquidation of coins bought from USGB.