Coin grading is the process of evaluating a coin’s condition and assigning it a standardized numeric grade. The Sheldon scale, ranging from 1 to 70, is the universal standard used by major grading services like PCGS and NGC. Understanding these grades can help you, as a collector or investor, make informed decisions about the precious metals in your portfolio. Below is a breakdown of common coin grades you may encounter.

Table of Contents

MS-70

The perfect uncirculated coin. No post-production imperfections are visible under 5x magnification. Strike is sharp, luster is full, and surfaces are flawless. Extremely rare and highly sought after by collectors.

MS-69

A near-perfect uncirculated coin with only the slightest imperfection, typically a single tiny mark or weakness, visible under magnification. Exceptionally difficult to distinguish from MS-70 with the naked eye.

MS-68

An outstanding uncirculated coin with very few contact marks, hairlines, or blemishes. The strike is sharp, luster is full, and eye appeal is exceptional. One of the higher premium grades for bullion coins.

MS-67

A superb gem uncirculated coin with only a few scattered, light contact marks. Luster is full and the strike is sharp. Well above average in quality and desirable for both collectors and investors.

MS-66

A gem uncirculated coin with above-average strike and surface quality. A few light marks or minor blemishes may be present but should not detract significantly from overall eye appeal.

MS-65

Gem uncirculated. Strong mint luster with only a few small, scattered contact marks or hairlines. An attractive coin with no major detracting flaws. This is the standard benchmark for a high-quality uncirculated coin.

MS-64

Choice uncirculated. Several contact marks, some hairlines, or a single large blemish may be present. Luster may be slightly impaired but overall still an above-average uncirculated example.

MS-63

Choice uncirculated with noticeable detracting contact marks or blemishes in the prime focal areas. Luster may be impaired. A solid uncirculated coin, though not considered a gem.

MS-62

Uncirculated with no trace of wear, but with heavy marks or blemishes that reduce eye appeal. Not considered an attractive coin despite being technically mint state.

MS-61

Uncirculated with no trace of wear. Heavy and distracting contact marks or blemishes are present throughout. Below average for a mint state coin with little collector premium.

MS-60

The lowest mint state grade. Uncirculated with no trace of wear, but characterized by numerous heavy marks, poor luster, and little to no eye appeal. Value is primarily intrinsic (metal content) rather than numismatic.

PF-70 DC

The perfect proof coin with deep cameo contrast frosted, sculpted devices set against mirror-like fields. No flaws of any kind are present under any magnification. The pinnacle of proof coin quality.

PF-70

A perfect proof coin without the deep cameo designation. Absolutely no post-production flaws are visible. The strike, surfaces, and finish are flawless in every respect.

PF-69 DC

A near-perfect proof with deep cameo contrast. Only the most minute imperfection, imperceptible to the naked eye, prevents a perfect grade. Considered an elite collectible.

PF-69

A near-perfect proof coin without deep cameo contrast. Virtually flawless with only a trivial imperfection under magnification. Highly desirable and commands a strong premium.

PF-68

An exceptionally high quality proof coin with only slight imperfections. Minor marks or hairlines that are barely visible under close inspection. Well above average for a proof coin.

PF-67

A superior proof coin with minor imperfections. A small number of light hairlines or contact marks may be present but do not significantly detract from the coin’s beauty or eye appeal.

AU-58

Choice about uncirculated. Slight wear visible only on the very highest points of the design. Full mint luster remains with the exception of the high points. Often mistaken for mint state at first glance.

AU-55

Choice about uncirculated with obvious wear on the high points. At least half of the original mint luster is still present. Design elements remain sharp and well-defined.

AU-50

About uncirculated with wear on the high points throughout the design. Approximately half of the mint luster is still present. All design details remain sharp with no major features worn flat.

EF-45

Choice extremely fine. Light wear on the highest points only. All design elements are sharp and well-defined with slight flattening on the very tops of the high relief areas. Traces of luster may still be visible.

EF-40

Extremely fine. Light wear throughout the design. All design elements and lettering remain sharp and well-defined. High points are flat but all features are clear and distinct.

VF-35

Choice very fine. Light to moderate even wear across the design. All major features are sharp and the overall detail remains very pleasing. High points are more noticeably flat than EF grades.

VF-30

Choice very fine. Light to moderate even wear with all major features and lettering remaining sharp. Slightly more worn than VF-35 but detail throughout the design is still strong.

VF-25

Very fine. Moderate wear on the high points with all major design details still clear. Some flatness is visible across the finer design elements, but the overall impression remains well above average for a circulated coin.

VF-20

Very fine. Moderate wear throughout the entire design. All major details remain clear and legible but show noticeable flatness. The lowest of the very fine grades.

F-15

Choice fine. Moderate to heavy even wear across the coin. The overall design is clear but flat with little to no fine inner detail remaining. All lettering is visible and readable.

F-12

Fine. Moderate to heavy even wear with all design elements visible but flat and lacking internal detail. Lettering remains legible but may be worn at the edges. A widely collected grade for classic coins.

VG-10

Choice very good. Well worn with the main features clear and bold. Design outlines are distinct but most inner detail is worn away. Lettering is clear.

VG-8

Very good. Well worn throughout with the main features clear but the design flat and lacking most detail. Legends are readable. A common grade for heavily circulated classic coins.

G-6

Choice good. Heavily worn with the design visible but faint in spots. Some peripheral lettering may be weak or worn into the rim. Major design elements are outlined but largely smooth.

G-4

Good. Heavily worn with all design elements visible but very faint. Legends are legible but often worn smooth at their edges. The coin’s type is identifiable but most design detail is lost.

AG-3

About good. Extremely worn. The design is only partially outlined with most details completely smooth. Parts of the date and legend may be worn away. Primarily valuable for its metal content or as a type coin placeholder.