Understanding coin grades — UK Sheldon scale for US coins, descriptive scale for British coins.
| Grade | Abbrev. | Description | Surface Wear |
|---|---|---|---|
| BU | Brilliant Uncirculated | Freshly minted, full original lustre, no contact marks. As struck. | None |
| UNC | Uncirculated | Never circulated but may have minor bag marks from minting/handling. Lustre present. | None |
| EF | Extremely Fine | Very light wear on highest points only. Nearly all detail sharp. Lustre may be partially present. | Trace to very light |
| VF | Very Fine | Light wear on high points but all major detail still sharp. No major flat areas. | Light |
| F | Fine | Moderate even wear throughout. All legends and dates clear. Design outline complete. | Moderate |
| VG | Very Good | Well worn but main features clear. Legends readable but may be weak in places. | Considerable |
| G | Good | Heavily worn. Design and legend visible but faint in spots. | Heavy |
| FR | Fair | Extremely worn. Coin barely identifiable. Major features present. | Very heavy |
| PR | Poor | Barely identifiable. Date may be missing. For type collection only. | Extreme |
| Grade | Points | Description | Circulated? |
|---|---|---|---|
| MS-70 | 70 | Perfect uncirculated. No marks under 5× magnification. | No (Mint State) |
| MS-67 | 67 | Superb gem uncirculated. Slightest weakness or blemish. | No (Mint State) |
| MS-65 | 65 | Gem uncirculated. Strong lustre, above average strike. Minor blemishes. | No (Mint State) |
| MS-63 | 63 | Choice uncirculated. Some distracting marks or blemishes in focal areas. | No (Mint State) |
| MS-60 | 60 | Uncirculated. No trace of wear but many contact marks. Lustre may be impaired. | No (Mint State) |
| AU-58 | 58 | Choice about uncirculated. Slight wear on high points. Most lustre present. | No / Trace |
| AU-55 | 55 | Choice about uncirculated. Evidence of friction on high points. Half lustre. | No / Trace |
| AU-50 | 50 | About uncirculated. Trace of wear on several high points. Half lustre. | No / Trace |
| EF-45 | 45 | Choice extremely fine. Light wear on high points. All design detail sharp. | Yes |
| EF-40 | 40 | Extremely fine. Light wear throughout but all features sharp. | Yes |
| VF-35 | 35 | Choice very fine. Light to moderate even wear. Lettering and legends sharp. | Yes |
| VF-30 | 30 | Choice very fine. Moderate wear on high points. All major features sharp. | Yes |
| VF-25 | 25 | Very fine. Moderate wear on high points. All legends and letters clear. | Yes |
| VF-20 | 20 | Very fine. Moderate wear throughout. Main features sharp. | Yes |
| F-15 | 15 | Choice fine. Moderate to heavy even wear. All design elements visible. | Yes |
| F-12 | 12 | Fine. Even moderate to heavy wear. Legends complete though may be weak. | Yes |
| VG-10 | 10 | Choice very good. Well worn. Main features clear but flat. | Yes |
| VG-8 | 8 | Very good. Well worn. Main features clear but with faint areas. | Yes |
| G-6 | 6 | Choice good. Heavily worn. Design visible but faint in spots. | Yes |
| G-4 | 4 | Good. Heavily worn. Design and legend visible but faint. | Yes |
| AG-3 | 3 | About good. Very heavily worn. Legend readable, date visible. | Yes |
| FR-2 | 2 | Fair. Extremely worn. Coin barely identifiable. | Yes |
| P-1 | 1 | Poor. Barely identifiable as a coin of the type. | Yes |
Hold coins at an angle under a single point light source (not fluorescent). Rotate slowly to see all surface details.
Use a 5× to 10× loupe for examining fine details, hairlines on proofs, and die varieties.
Cleaning removes original surfaces and permanently reduces grade. Even "gentle" cleaning destroys value.
Always handle coins by the edges. Fingerprints contain acids that etch surfaces over time.
PCGS and NGC (US), CGS and LCGS (UK) provide independent grading and slabbing for valuable coins.
Grading is subjective. Two experts may differ by 1-2 points. The price a coin achieves at auction is the truest test.