Coin grading guide
A coin's grade says how much it's worn, and how well it was made and has been kept. Most collectors use the Sheldon scale, from 1 (barely identifiable) to 70 (perfect). Small steps in grade can mean big steps in value, especially at the top.
The Sheldon scale
| Grade | Name | What it looks like |
|---|---|---|
| P-1 | Poor | Barely identifiable: the date or mint mark may be worn away. |
| FR-2 | Fair | Heavily worn, but the type and date can be made out, if only just. |
| AG-3 | About Good | Very heavily worn: parts of the date and lettering are worn into the rim. |
| G-4 to G-6 | Good | Heavily worn, with the main design outlined and the rim mostly complete. Little detail inside the design. |
| VG-8 to VG-10 | Very Good | Well worn, but the main features are clear and some inner detail shows. |
| F-12 to F-15 | Fine | Moderate, even wear on the high points; the design is bold and the major details are there. |
| VF-20 to VF-35 | Very Fine | Light to moderate wear on the high points; the finer details are mostly sharp. |
| EF-40 to EF-45 | Extremely Fine | Light wear on the highest points only; all the design detail is sharp. (Also written XF.) |
| AU-50 to AU-58 | About Uncirculated | A trace of wear on the highest points, often with some of the original mint lustre. |
| MS-60 to MS-62 | Mint State | No wear at all, but with noticeable bag marks or other flaws. |
| MS-63 to MS-64 | Mint State (Choice) | No wear, with fewer and smaller marks, and good lustre and eye appeal. |
| MS-65 to MS-66 | Mint State (Gem) | No wear, with only minor marks and strong lustre and eye appeal. |
| MS-67 to MS-70 | Mint State (Superb) | Close to flawless; MS-70 means no flaw shows under 5x magnification. |
Grades 1 to 58 are "circulated": the coin has wear. 60 to 70 are "uncirculated" or Mint State: no wear, and the grade depends on marks, lustre, strike, and eye appeal.
Proofs and specimens
A proof is struck specially for collectors, usually more than once, from polished dies, giving mirror-like fields. Proofs are graded on the same 60 to 70 scale, written PR (at PCGS) or PF (at NGC): a PR-69 is a nearly perfect proof. A proof is a way of making a coin, not a grade.
A specimen (SP) sits between a circulation strike and a proof: made with extra care for collectors' sets. The Royal Canadian Mint's specimen sets are well known.
Designations
- RD
- Red (copper: 95% or more of its original colour)
- RB
- Red-brown (copper: 5% to 95% red)
- BN
- Brown (copper: under 5% red)
- CAM
- Cameo (frosted designs on mirror fields)
- DCAM
- Deep cameo (PCGS; NGC says Ultra Cameo)
- PL
- Prooflike (mirrored fields)
- DMPL
- Deep mirror prooflike
- FB
- Full bands (Mercury and Roosevelt dimes)
- FBL
- Full bell lines (Franklin halves)
- FH
- Full head (Standing Liberty quarters)
- FS
- Full steps (Jefferson nickels)
A "+" (PCGS and NGC) marks a coin at the high end of its grade, and a star (★, NGC) one with exceptional eye appeal.
Details grades
A coin with a problem (cleaned, scratched, damaged, tooled, or harmed by its surroundings) may be graded for its wear but labelled with "details" and the problem: "VF Details, cleaned". These usually sell for much less than a problem-free coin of the same wear. The single best way to keep a coin's value is never to clean it.
This guide is a summary for collectors. Each grading service has its own standards: check theirs for the details.