1. Introduction to Coin Grading
Coin grading has become a cornerstone of numismatics, but why did it start, and why does it matter today? In the early days of coin collecting, grading was subjective, often based on a dealer’s opinion or individual systems, leading to inconsistencies and disputes. This lack of standardization made trading and valuing coins challenging, as different dealers assigned grades variably.
2. Understanding Coin Grading: The Process Explained
In the United States, coin evaluation relies on the Sheldon Coin Grading Scale, a system ranging from 1 to 70 created by William Sheldon in 1949. The core concept is that a coin graded at 70 could be valued up to 70 times more than one graded at 1, reflecting factors like condition and scarcity. Essentially, a score of 1 indicates the poorest quality, while 70 represents flawless perfection in mint condition.
3. Coin Grade Explanations
- Reference: What’s the score? Your guide to coin grading
Below is an overview of essential grade definitions, useful whether you’re relying on expert services or assessing coins on your own.
COIN GRADING SCALE
| Label | Grade | Definition |
| MS/PR-70 | Mint State or Proof 70 | The finest quality possible, with no evidence of scratches or imperfections under 5x magnification. |
| MS/PR-69 | Mint State or Proof 69 | A fully struck coin with nearly imperceptible imperfections. |
| MS/PR-68 | Mint State or Proof 68 | Very sharply struck with only minuscule imperfections. |
| MS/PR-67 | Mint State or Proof 67 | Sharply struck with only a few imperfections. |
| MS/PR-66 | Mint State or Proof 66 | Very well struck with minimal marks and hairlines. |
| MS/PR-65 | Mint State or Proof 65 | Well struck with moderate marks or hairlines. |
| MS/PR-64 | Mint State or Proof 64 | Above average strike; minor marks, mostly outside of focal areas |
| MS/PR-63 | Mint State or Proof 63 | Average or better strike; scattered marks, though none severe |
| MS/PR-62 | Mint State or Proof 62 | Slightly weak or average strike with no trace of wear. More or larger abrasions than an MS/PF 63. |
| MS/PR-61 | Mint State or Proof 61 | Weak or average strike with no trace of wear. More marks and/or multiple large abrasions. |
| MS/PR-60 | Mint State or Proof 60 | Weak or average strike with no trace of wear. Numerous abrasions, hairlines and/or large marks. |
| AU-58 | About Uncirculated 58 | Slight wear on the highest points of the design. Full details. |
| AU-55 | About Uncirculated 55 | Slight wear on less than 50% of the design. Full details. |
| AU-53 | About Uncirculated 53 | Slight wear on more than 50% of the design. Full details, very minor softness on the high points. |
| AU-50 | About Uncirculated 50 | Slight wear on more than 50% of the design. Full details, minor softness on the high points. |
| XF-45 | Extremely Fine 45 | Complete details with minor wear on some of the high points. |
| XF-40 | Extremely Fine 40 | Complete details with minor wear on most of the high points. |
| VF-35 | Very Fine 35 | Complete details with wear on all of the high points. |
| VF-30 | Very Fine 30 | Nearly complete details with moderate softness on the design areas |
| VF-25 | Very Fine 25 | Nearly complete details with more softness on the design areas. |
| VF-20 | Very Fine 20 | Moderate design detail with sharp letters and digits. |
| F-15 | Fine 15 | Recessed areas show slight softness. Letters and digits are sharp. |
| F-12 | Fine 12 | Recessed areas show more softness. Letters and digits are sharp. |
| VG-10 | Very Good 10 | Wear throughout the design. Letters and digits show softness. |
| VG-8 | Very Good 8 | Wear throughout the design. Letters and digits show more softness. |
| G-6 | Good 6 | Peripheral letters and digits are full. Rims are sharp. |
| G-4 | Good 4 | Peripheral letters and digits are nearly full. Rims exhibit wear. |
| AG-3 | About Good 3 | Most letters and digits are readable. Rims are worn into the fields. |
| FR-2 | Fair 2 | Some details are visible. Rims are barely visible. |
| PO-1 | Poor 1 | Enough detail to identify the coin’s date and type. Rims are flat or nearly flat. |
| None | Ungradable | Date and mintmark must be detectable to be graded |
4. Why Coins Are Graded ?
Coins are graded primarily to determine their quality, authenticity, and market value. Grading verifies a coin’s genuineness, as reputable services like PCGS authenticate coins during the process. This is crucial because counterfeit coins are rampant, and grading provides a documented condition that can appreciate over time. For collectors and investors, graded coins are easier to sell, often fetching higher prices due to transparency.
However, grading isn’t free—it adds cost, and not all coins recoup this when sold. Still, in a market where condition affects value dramatically, grading protects both buyers and sellers from overpaying or underselling.
In summary, coin grading evolved from chaotic early practices to a structured system that enhances trust, value, and liquidity in the numismatic world.
Get Expert Help from PGS Gold & Coin
At PGS Gold & Coin, we offer free in-store evaluations to help you understand what your coin could be worth – before you commit to the time and cost of professional certification.
Why Choose PGS Gold & Coin?
- Trusted by families across Chicago and the suburbs since 2008
- Certified, knowledgeable appraisers on staff
- Transparent pricing with no hidden fees
- Multiple locations and a discreet, welcoming environment
- Optional on-site estate consultations for large or complex collections
We’ve earned the trust of thousands of people across Chicago and the surrounding suburbs for over 15 years, offering a professional, friendly experience from start to finish.
📍 Visit a nearby location or get started online at staging.pgsgoldandcoin.com