A collector’s introduction from The Canadian Coin Broker
Coin grading is a standardized way of describing a coin’s condition. Modern collectors commonly use the 1–70 Sheldon Scale, where 1 represents a coin in extremely poor condition and 70 represents a coin considered perfect as struck under the grading service’s standard.
What is the 1–70 scale called?
It is called the Sheldon Scale. Developed in 1949 by Dr. William H. Sheldon for early U.S. large cents, the original system linked numerical grades to a theoretical relationship between condition and value. That pricing formula did not remain practical, but the numbering system became the foundation of modern professional coin grading.
Why do we use it?
Instead of simply calling a coin “nice” or “worn,” collectors and dealers can use terms such as VF-20, AU-55, or MS-65. This gives us a more consistent language for describing condition.
Condition can have a major effect on value. Two coins of the same date, mint, and variety can have very different values if one is heavily worn and the other survives in a high Mint State grade.
The Sheldon grading scale
| Grade | Name | General description |
|---|---|---|
| 1 | Poor (PO) | Barely identifiable; extremely worn. |
| 2 | Fair (FR) | Very heavily worn, with only basic details remaining. |
| 3 | About Good (AG) | Heavily worn, but major design elements remain visible. |
| 4–6 | Good (G) | Major design is visible, with heavy overall wear. |
| 8–10 | Very Good (VG) | More major detail remains, but wear is obvious. |
| 12–15 | Fine (F) | Moderate to heavy wear with clearer design detail. |
| 20–35 | Very Fine (VF) | Considerable detail remains, with moderate wear on high points. |
| 40–45 | Extremely Fine (EF/XF) | Light wear, mainly on the highest points. |
| 50–58 | About Uncirculated (AU) | Only slight traces of wear. |
| 60–70 | Mint State (MS) | No circulation wear. Higher numbers generally indicate better preservation and fewer imperfections. |
These ranges are a quick reference. Not every number below 60 is used as a standard numerical grade, and the details to examine depend on the coin’s design.
The important jump: AU-58 to MS-60
AU-58 can be a beautiful coin, but it has a small amount of actual wear. MS-60 has no circulation wear, although it may have numerous contact marks or weaker eye appeal. An attractive AU-58 can look better at first glance than an MS-60. The distinction is wear, not simply which coin looks prettier.
What does MS-60 through MS-70 mean?
All Mint State grades indicate no circulation wear. Within that range, graders assess surface preservation, marks, lustre, strike, and overall eye appeal.
- MS-60: Uncirculated, but may have many noticeable marks or poor eye appeal.
- MS-65: A high-quality uncirculated coin with relatively few distracting marks and strong overall appearance.
- MS-70: Considered perfect as struck under the grading service’s standard. For example, NGC specifies no post-production imperfections at 5× magnification.
What determines a coin’s grade?
- Wear: How much of the original design has worn away.
- Contact marks: Nicks and marks caused by coins striking or rubbing against one another.
- Lustre: The original surface brilliance created when the coin was struck.
- Strike quality: How sharply the design was impressed when the coin was made.
- Surface preservation: Scratches, abrasions, spots, and other surface disturbances.
- Eye appeal: Overall appearance, including toning and how distracting marks are.
Grade is not the same as rarity or value
A grade describes condition. It does not, by itself, tell you how rare or valuable a coin is. Value also depends on rarity, demand, variety, date, mint, authenticity, and market conditions.
What is a “Details” grade?
A coin may have the wear associated with a normal grade but also have a surface problem, such as improper cleaning, damage, or corrosion. A grading service may assign a Details designation instead of a straight numerical grade. “AU Details,” for example, describes the level of remaining detail while flagging a separate problem.
Proof and Specimen are not grades above Mint State
Proof (PR or PF) and Specimen (SP) identify special methods or categories of manufacture. They are not extra steps above MS-70. A Proof coin can also receive a numerical grade, and being a Proof does not automatically mean that a coin is flawless.
Reading the abbreviations
PO: Poor · FR: Fair · AG: About Good · G: Good · VG: Very Good · F: Fine · VF: Very Fine · EF/XF: Extremely Fine · AU: About Uncirculated · MS: Mint State · PR/PF: Proof · SP: Specimen.
Key takeaway: MS-65 means Mint State, grade 65 on the 70-point scale. The number describes the coin’s condition, not its rarity or value by itself.
Keep learning
Compare coins under consistent lighting and learn where wear first appears on each design. This overview is a starting point, not a substitute for coin-specific grading references or professional examination.
Further reading: NGC grading scale, NGC Details grading, and PCGS on AU-58 versus MS-60.