Coin Grading Scale Explained: Sheldon Scale From Good to Mint State 70

The coin grading scale is a 1-to-70 numbering system, known as the Sheldon scale, that describes the condition of a coin, with higher numbers meaning less wear and better preservation.

Where the Sheldon scale came from

Numismatist William Sheldon proposed the 1-to-70 scale in 1948. Over the following decades it spread from one coin series to nearly all of them, and when third-party grading services emerged in the 1980s they built their standards on it. PCGS and NGC, two of the best-known services, both grade on this scale today.

The main grade ranges

Grades are usually written as an abbreviation plus a number. Using the ranges published by PCGS and echoed in standard references, the common steps run from lowest to highest wear-based grade like this, with more detail visible as the numbers rise:

• Good (G-4 to G-6)
• Very Good (VG-8 to VG-10)
• Fine (F-12 to F-15)
• Very Fine (VF-20 to VF-35)
• Extremely Fine (XF-40 to XF-45)
• About Uncirculated (AU-50 to AU-58)
• Mint State (MS-60 to MS-70)

PCGS also defines lower grades below Good for coins that are worn nearly smooth, and notes that a coin must still show a readable date and mint mark to receive a numeric grade.

What "Mint State" really means

Mint State describes a business-strike coin that has never been in circulation. Under the PCGS description, a Mint State coin can range from one covered with marks (MS-60) to a flawless example (MS-70). NGC treats 60 as the threshold for Uncirculated and describes a 70 as having no post-production imperfections at 5x magnification. The numbers inside the Mint State range reflect things like surface marks, luster and strike quality, not wear.

Proof and other strike types

Proof coins are struck specially for collectors and receive their own designation, shown as PF or PR depending on the grading service. Specimen coins, labelled SP, fall between a true proof and a normal currency strike. A proof or specimen coin is graded on the same 1-to-70 scale.

Raw coins versus certified coins

A certified coin has been authenticated, graded and sealed in a tamper-evident holder by a third-party service, with the grade printed on the label. A raw coin has not been through that process, so the grade is the seller's opinion. At Bourne2Treasure, grades on ungraded coins are our own approximations, and the photos are the best way to judge condition yourself.

Tips for reading a grade

Look at the highest points of the design first, such as the hair above the ear on a portrait or the feathers on an eagle, because wear shows there before it appears anywhere else. Compare the coin to photos of the same series, since a grade that looks right for one design can look different on another. Grades can also differ between services and between graders, so treat any grade as a well-informed opinion rather than a measurement.

Frequently asked questions

Is a higher number always better?

Yes, within the scale a higher number means less wear or better preservation. The scale does not by itself say anything about price or desirability, which depend on many other factors.

What is the difference between AU and MS?

About Uncirculated coins show slight wear on the highest points, while Mint State coins show no wear from circulation at all.

Why do some sellers give a range such as VF-XF?

A range means the coin falls between two grades, or that the seller is describing an approximate grade. Certified coins carry a single numeric grade on the holder label.

Ready to browse? See our PCGS graded coins, our NGC graded coins, or circulated examples in our Indian Head cents collection.