Two coins with the same date and mint mark can differ in value by a factor of a hundred because of condition. Collectors describe condition with the Sheldon scale, a 1-to-70 system devised by Dr William Sheldon in 1949 for large cents and now used for every US coin.
The scale at a glance
| Grade | Number | What it looks like |
|---|---|---|
| Poor / Fair | 1 to 2 | Barely identifiable; date may be partly missing. |
| About Good | 3 | Heavily worn, rims worn into the lettering. |
| Good (G) | 4 to 6 | Design outlined, most detail gone, rims mostly complete. |
| Very Good (VG) | 8 to 10 | Some internal detail visible; key words such as LIBERTY partly legible. |
| Fine (F) | 12 to 15 | Moderate, even wear; all major details visible. |
| Very Fine (VF) | 20 to 35 | Light to moderate wear on high points; finer details clear. |
| Extremely Fine (EF/XF) | 40 to 45 | Light wear only on the highest points; traces of mint luster. |
| About Uncirculated (AU) | 50 to 58 | Trace wear on high points; most luster remains. |
| Mint State (MS) | 60 to 70 | No wear at all. Grade within MS depends on marks, luster and eye appeal; MS-70 is flawless under 5x magnification. |
Proof coins use the same numbers with the prefix PR or PF (for example PR-69). A proof is a method of manufacture, not a grade.
How to grade a coin yourself
- Find the high points. Wear starts on the highest parts of the design, such as a cheek, a hair curl or an eagle's breast. Each WePlayCoins series page lists the key wear points for that design.
- Look for luster. Mint luster is the cartwheel-like shine that rotates as you tilt an uncirculated coin. Its absence on the high points means wear.
- Count the marks. Uncirculated coins pick up "bag marks" from contact with other coins. Fewer and smaller marks mean a higher MS number.
- Judge eye appeal. Attractive toning and a strong strike can lift a coin within its grade; spots and dull surfaces lower it.
Designations that change prices
- RD, RB, BN: Red, Red-Brown and Brown, for copper coins. Full red copper is worth much more.
- FB: Full Bands on Mercury and Roosevelt dimes (torch bands fully separated).
- FBL: Full Bell Lines on Franklin halves.
- FS / 5FS / 6FS: Full Steps on Jefferson nickels.
- FH: Full Head on Standing Liberty quarters.
- PL / DMPL: Prooflike and Deep Mirror Prooflike, mainly on Morgan dollars.
- CAM / DCAM (or UCAM): Cameo and Deep Cameo contrast on proofs.
Should you get a coin professionally graded?
Third-party grading services such as PCGS and NGC authenticate a coin, assign a grade and seal it in a tamper-evident holder. Grading costs money and takes time, so it makes sense for coins likely to be worth more than the fee: key dates, errors, high-grade silver and anything you plan to sell. For common coins, careful self-grading is enough.
Where the 70-point scale came from
Dr. William Sheldon published his scale in 1949 in the book Early American Cents. He tied the numbers to the market value of large cents, so a coin graded 60 was meant to be worth roughly sixty times a coin graded 1. That price link broke down long ago, but the numbers stuck. The American Numismatic Association published its own grading standards for all US coins in 1977, using the Sheldon numbers. Professional grading services followed in 1986 and 1987, sealing graded coins in the plastic holders collectors call slabs.
Within Mint State, collectors use a few traditional names. MS-63 is often called Choice Uncirculated, MS-65 is Gem Uncirculated and MS-67 and higher are called Superb Gem.
Telling a weak strike from wear
Not every flat spot is wear. Some coins left the press with soft detail because the dies were worn or spaced too far apart, or the metal did not flow fully into the deepest parts of the design. Many Buffalo nickels and Walking Liberty halves from Denver and San Francisco in the 1920s are known for this. The way to tell the difference is luster. A weakly struck area on an uncirculated coin still has unbroken mint luster, while a worn area is dull and shows a different texture from the surrounding surface.
Light and tools for grading at home
Grade under a single point of light, such as a desk lamp with a bright bulb, about a foot above the coin. Overhead room lights and diffuse daylight hide hairlines and wear. Hold the coin by its edges and tilt and rotate it slowly so the light rolls across each part of the surface. Use a 5x glass for the overall look and a 10x loupe to check high points and marks. Grade the coin before you read any label or listing, so the opinion is your own.
Details grades and problem coins
Grading services will not give a straight numeric grade to a coin with a significant problem. Instead they assign a details grade, such as XF Details, Cleaned. Common reasons are cleaning, scratches, environmental damage such as corrosion, rim damage, PVC residue, tooling and holes. The wear level is still described, so an XF details coin has the detail of an extremely fine coin, but it sells at a discount to problem-free coins of the same wear.
How to get better at grading
Pick one series you see often and study certified examples of it at several grades, either at coin shows or through the large photo archives the grading services publish. Notice exactly where each design wears first. Then grade your own coins and compare your results with certified pieces. Experienced collectors still disagree by a point or two on the same coin, especially between MS-63 and MS-65, so aim for consistency rather than certainty.
Frequently asked questions
What does MS-65 mean on a coin?
MS-65 means Mint State 65, often called Gem Uncirculated. The coin has no wear and only a few minor marks, with strong luster and good eye appeal.
Can a cleaned coin get a numeric grade?
Usually not from the major services. A noticeably cleaned coin receives a details grade that describes the wear but notes the cleaning.
Who invented the coin grading scale?
Dr. William Sheldon introduced the 1 to 70 scale in 1949 in his book Early American Cents, originally for large cents.