Sheldon Coin Grading Scale Explained

The Complete Numismatic Guide to Coin Grades (1–70)

Learn how the Sheldon Coin Grading Scale works. This complete numismatic guide explains coin grades from Poor (P‑1) to Mint State (MS‑70).

What Is the Sheldon Coin Grading Scale?

The Sheldon Coin Grading Scale is the standard system used in numismatics to grade coins by condition. The scale runs from 1 to 70, with lower numbers indicating heavily worn coins and higher numbers representing better preservation and mint quality. It is the grading system used by professional services, dealers, collectors, and auction houses worldwide.

Coin grading matters because condition directly impacts value. Two coins of the same date and type can vary dramatically in price based solely on where they fall on the Sheldon Scale.

History of the Sheldon Grading System

The Sheldon Scale was developed in 1949 by Dr. William Herbert Sheldon, originally to grade Early American large cents (1793–1814). His goal was to replace vague descriptive terms with a numerical system that allowed precise, consistent evaluation.

Although Sheldon initially linked grades to market value, the 70‑point structure itself proved durable. In the 1970s, the American Numismatic Association (ANA) adopted the system for all U.S. coins, and by the 1980s it became institutionalized through third‑party grading services. Today, the Sheldon Scale is the universal coin grading standard.

How the Sheldon Coin Grading Scale Works

The Sheldon Scale is divided into two primary categories:

• Circulated Coins (Grades 1–58)

  
  

  Coins that show wear from use in commerce.

• Uncirculated / Mint State Coins (Grades 60–70)

  
  

  Coins with no wear from circulation.

Each grade combines a descriptive term and a number, such as VF‑30 (Very Fine) or MS‑65 (Mint State). Not every number is used; the scale relies on traditional grade points for consistency.

Circulated Coin Grades Explained (P‑1 to AU‑58)

Poor (P‑1)

A coin that is barely identifiable. Most design details are gone, and the date may be unreadable, though the coin’s type can still be determined.

Fair (FR‑2)

Slightly more detail than Poor. Major outlines are visible, but the coin is still heavily worn with little surface detail remaining.

About Good (AG‑3)

The design outline is clear, and the date and lettering are readable, though extremely worn. Rims are often worn into the fields.

Good (G‑4 to G‑6)

Major design elements are visible but flat. Peripheral lettering is complete, and the coin is clearly identifiable despite heavy wear.

Very Good (VG‑8 to VG‑10)

Moderate wear with clear outlines of the design. Some interior detail begins to show, and rims are mostly intact.

Fine (F‑12 to F‑15)

Even wear across the surface. All lettering is sharp, and some interior details remain visible in recessed areas. Fine coins are popular with collectors for their balance of detail and affordability.

Very Fine (VF‑20 to VF‑35)

Light to moderate wear on high points only. Most design details are sharp, with 75–90% of original detail visible.

Extremely Fine (EF/XF‑40 to XF‑45)

Only light wear on the highest points. Sharp details dominate, and traces of mint luster may remain.

About Uncirculated (AU‑50 to AU‑58)

Minimal wear or friction on the highest points. Most or nearly all original mint luster is intact.

 AU‑58 coins often appear uncirculated at first glance.

Mint State (Uncirculated) Coin Grades Explained (MS‑60 to MS‑70)

Mint State coins show no wear from circulation, though they may have contact marks from minting and storage.

MS‑60 to MS‑62

Uncirculated coins with heavy contact marks, dull luster, or weak strikes. Technically uncirculated but visually below average.

MS‑63 to MS‑64

Average to above‑average uncirculated coins with fewer abrasions, decent luster, and acceptable eye appeal.

MS‑65 (Gem Mint State)

Strong luster, sharp strike, and minimal imperfections. MS‑65 coins are highly desirable and often command significant premiums.

MS‑66 to MS‑69

Exceptional strike and luster with only microscopic imperfections visible under magnification. Each incremental step reflects a meaningful improvement in quality and rarity.

MS‑70 (Perfect Mint State)

A flawless coin with no post‑production imperfections visible under 5× magnification. MS‑70 represents absolute perfection and is extremely rare.

Why the Sheldon Coin Grading Scale Is Important

The Sheldon Scale provides the common language of coin grading, allowing collectors and dealers to accurately compare coins and establish fair market prices. Even a one‑point grade difference—such as MS‑64 versus MS‑65—can significantly affect value, making accurate grading essential.

Frequently Asked Questions About Coin Grading

What is the best coin grading scale?

The Sheldon Coin Grading Scale is the most widely accepted and universally used grading system in numismatics.

What does AU mean in coin grading?

AU (About Uncirculated) refers to coins graded AU‑50 to AU‑58 that show minimal wear and retain most original mint luster.

Is MS‑70 a perfect coin?

Yes. MS‑70 coins have no visible imperfections under magnification and represent the highest possible grade.