Guide
Coin grades explained.
A coin's grade describes its condition on a scale from 1 to 70. For bullion coins it barely matters; for collector coins it can decide most of the value, so it's worth knowing what the letters mean.
Updated October 28, 2026
The 1 to 70 scale
Coin dealers and grading services use the Sheldon scale, which William Sheldon proposed in 1948 for U.S. large cents. It's now used for every U.S. coin and most others. Grades 1 to 58 are circulated coins; 60 to 70 are Mint State, coins that never circulated.
| Grade | Name | What it looks like |
|---|---|---|
| PO-1 | Poor | Barely identifiable: the type shows, the date may not. |
| FR-2 | Fair | Worn nearly smooth, with the date just readable. |
| AG-3 | About Good | Heavily worn; parts of the lettering are gone. |
| G-4, G-6 | Good | Worn flat but complete in outline, with a readable date. |
| VG-8, VG-10 | Very Good | Worn, with some inner detail showing. |
| F-12, F-15 | Fine | Moderate even wear; the major details are clear. |
| VF-20 to VF-35 | Very Fine | Light to moderate wear on the high points. |
| XF-40, XF-45 | Extremely Fine | Light wear on the highest points only. Also written EF. |
| AU-50 to AU-58 | About Uncirculated | Traces of wear, often only on the highest points. |
| MS-60 to MS-70 | Mint State | No wear at all; the number grades marks and luster. MS-70 is flawless under magnification. |
Terms you'll see in listings
- BU (Brilliant Uncirculated): never circulated, with full original luster. Bullion coins such as Silver Eagles and Maple Leafs are sold "BU" without a numeric grade.
- Uncirculated: the same idea without a grade: no wear from use.
- Circulated: shows wear from use. Most junk silver and common pre-1933 gold is circulated.
- Cull: damaged or worn below a collectible grade, so it's priced for its metal only.
- Proof (PR or PF): a coin struck with special polished dies for collectors, graded on the same 1 to 70 numbers, as in PR-69. See proof vs bullion coins.
- Certified, slabbed, or encapsulated: graded by a service such as PCGS or NGC and sealed in a plastic holder with the grade on its label. See how to sell graded coins.
How grade changes what a coin is worth
For bullion coins, grade is almost irrelevant: a 1 ozt Gold Eagle is worth its gold whether it's BU or lightly handled. For collector coins, the difference between grades can be large, especially in Mint State and for scarce dates. A common-date Morgan dollar in Fine is worth about its silver; the same coin in MS-65 sells for a premium, and key dates far more.
Don't clean a coin to improve how it looks. Cleaning leaves fine scratches that graders see at once, and it lowers the grade and the price. See should you clean coins before selling.
Coin guides: Morgan dollars · Peace dollars · Old U.S. gold coins · Mint marks · How to sell a coin collection · Selling graded coins
The highest payouts for your gold, at a published percentage of the live Kitco bid.
Your coins
Not sure what grade yours are?
Send clear photos of both sides and we'll tell you whether they're worth more than their metal, with a free written estimate.