Coin Grading

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Grading and Quality Standards

We follow the

NGC &PCGS

Grading Standards for precision

Over time, coins experience varying degrees of wear from circulation, or marks from contact with other coins or surfaces. Because coins are priced according to their condition, a standard system of grading has been developed to facilitate the exchange of coins between dealers, and between dealers and collectors.

With Precious Metallurgy’s grading and Quality Standards you can trust in a widely recognized and stringent business. The referenced grades refer to circulated & uncirculated coins, and are meant as general guides only. Standards can vary from type to type. We strive to bring you the most. Contact us for coin collection appraisal.

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NGC Coin Grading Scale

PCGS Grading Standards

NGC Coin Grading Scale

NGC uses the internationally accepted Sheldon grading scale of 1 to 70, which was first used in the United States in the late 1940s. This scale was adopted by NGC when it began operations in 1987 and is considered to be the industry standard. Below are NGC's grading standards for each numeric grade as well as major strike types and designations.

Strike Type

NGC uses two-letter codes before a coin’s numeric grade to describe its method of production and overall appearance. The most common are MS for Mint State coins (those struck for circulation) and PF for Proof coins (those struck for collectors). Another strike type is SP for Specimen, which describes a coin that falls short of the definition for actual Proofs but are superior to the normal currency issues.

Mint State. Coins struck in the same format as circulation issues. Applies to grades 60 to 70.

Proof. Coins struck in a special format for collectors.

Specimen. A hybrid between Mint State and Proof.

Numeric Grades

NGC uses a numeric grade to succinctly describe a problem-free coin’s condition. The available numeric grades range from 1 to 70 based on an internationally recognized scale developed in the 1940s. As the numeric grade increases, a coin’s condition is considered to be better. Some numbers are skipped below the grade of 60, which is the threshold for a coin to be considered Uncirculated.

MS/PF

A coin with no post-production imperfections at 5x magnification.

MS/PF

A fully struck coin with nearly imperceptible imperfections.

MS/PF

Very sharply struck with only miniscule imperfections.

MS/PF

Sharply struck with only a few imperfections.

MS/PF

Very well struck with minimal marks and hairlines.

MS/PF

Well struck with moderate marks or hairlines.

MS/PF

Average or better strike with several obvious marks or hairlines and other miniscule imperfections.

MS/PF

Slightly weak or average strike with moderate abrasions and hairlines of varying sizes.

MS/PF

Slightly weak or average strike with no trace of wear. More or larger abrasions than an MS/PF 63.

MS/PF

Weak or average strike with no trace of wear. More marks and/or multiple large abrasions.

MS/PF

Weak or average strike with no trace of wear. Numerous abrasions, hairlines and/or large marks.

AU

Slight wear on the highest points of the design. Full details.

AU

Slight wear on less than 50% of the design. Full details.

AU

Slight wear on more than 50% of the design. Full details except for very minor softness on the high points.

AU

Slight wear on more than 50% of the design. Full details except for minor softness on the high points.

XF

Complete details with minor wear on some of the high points.

XF

Complete details with minor wear on most of the high points.

VF

Complete details with wear on all of the high points.

VF

Nearly complete details with moderate softness on the design areas.

VF

Nearly complete details with more softness on the design areas.

VF

Moderate design detail with sharp letters and digits.

F

Recessed areas show slight softness. Letters and digits are sharp.

F

Recessed areas show more softness. Letters and digits are sharp.

VG

Wear throughout the design. Letters and digits show softness.

VG

Wear throughout the design. Letters and digits show more softness.

G

Peripheral letters and digits are full. Rims are sharp.

G

Peripheral letters and digits are nearly full. Rims exhibit wear.

AG

Most letters and digits are readable. Rims are worn into the fields.

FR

Some details are visible. Rims are barely visible.

PO

Enough detail to identify the coin's date and type. Rims are flat or nearly flat.

Plus & Star

NGC uses the Plus (+) and Star (★) designations to distinguish coins at the high end of their assigned grade and/or with exceptional eye appeal for their assigned grade. All coins are evaluated for the Plus and Star designations as part of the normal NGC coin grading process.

+ (NGC Plus Designation)

NGC (Numismatic Guaranty Corporation) assigns a '+' to coins that almost meet the criteria for the next grade up, like a coin graded MS 64 being close to MS 65 quality. These coins not only excel technically but also boast better-than-average visual appeal. However, not all coins qualify for this designation; only those graded between NGC XF 45 to NGC MS 68 or NGC PF 45 to NGC PF 68 are eligible. The '+' is given to United States coins dating from 1792 onwards, except bullion and modern commemorative coins, as well as world coins struck before 1970.

★ (NGC Star Designation)

NGC uses its ★ Star Designation for coins that display exceptional eye appeal within their assigned grade. Eye appeal is subjective but typically involves vibrant toning, strong luster, or notable cameo contrast in Proof coins. To receive the ★ star, coins must lack planchet irregularities and distracting spots or blemishes. Toned coins are accepted if they display pleasing colors without dark brown or black areas. Coins with the ★ Star Designation can vary within their assigned grades, like an NGC MS 64 coin might fall at the lower, mid, or higher end of that grade.

Strike Characters

Strike characters are used to describe how well an area of a coin is struck and when information is of specific interest to collectors. For example, strike characters can describe the degree of red luster on a copper coin’s surface (BN, RB and RD), the degree of contrast on a Proof coin (Cameo and Ultra Cameo) or other distinctive features, such as FB for Full Bands on a Mercury Dime.

RD

Red. A coin with full mint red luster.

RB

Red Brown. A coin with a mix of red luster and brown patina.

BN

Brown. A coin with full or nearly full brown patina.

Ultra Cameo

Applies only to PF coins. The fields are deeply mirrored and the devices are heavily frosted for bold contrast on both sides of the coin.

DPL

Deep Prooflike. The fields are deeply mirrored. Does not apply to Proof coins.

PL

Prooflike. The fields are mirrored. Does not apply to Proof coins.

NGC Releases Designations

NGC offers several special releases designations to recognize coins received for grading within a specified timeframe or at a particular event. These releases designations, such as Early Releases, First Releases, First Day of Issue and Show Releases, work to capture the excitement of a new release and are generally paired with special NGC certification labels.

Early Releases

NGC offers the Early Releases designation for selected coins received by NGC or an NGC-approved depository during the first 30 days of release.

First Releases

NGC offers the First Releases designation for selected coins received by NGC or an NGC-approved depository during the first 30 days of release.

MS/PR-70

MS/PR-67

MS/PR-64

MS/PR-61

AU-55

XF-45

VF-30

F-15

VG-8

AG-03

ungradable

MS/PR-69

MS/PR-66

MS/PR-63

MS/PR-60

AU-53

XF-40

VF-25

F-12

G-6

FR-2

MS/PR-68

MS/PR-65

MS/PR-62

AU-58

AU-50

VF-35

VF-20

VG-10

G-4

PO-1

Uncirculated / UNC / BU / MS

Coins with no wear at all are alternately referred to as Uncirculated (Unc.), Brilliant Uncirculated (BU), and Mint State (MS). When a numerical grade is assigned to an uncirculated coin, it goes along with the abbreviation MS, such as MS-60.

It is important to note that Uncirculated and similar terms refer only to the fact that the coin has no wear. The presence or absence of bagmarks, toning (discoloration), or a strong strike does not affect a coin’s Uncirculated status, although such things can affect the numerical grade of the coin.

A circulated coin is a coin that has been used in trade. This means that the coin has been passed from person to person and has seen use in commerce. Circulated coins typically have less value than coins that are not circulated.

Circulated coins have been used to some extent in daily commerce and have some “wear” from handling. Because older or scarcer coins may be very difficult to locate in mint Uncirculated condition, circulated coins may better suit your needs for some coin series and issues.

Proof (PR)

A coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes. PCGS recognizes Proofs (PR) as those struck in 1817 and later.

Specimen (SP)

Special coins struck at the Mint from 1792-1816 that display many characteristics of the later Proof coinage. Prior to 1817, the minting equipment and technology was limited, so these coins do not have the “watery” surfaces of later Proofs nor the evenness of strike of the close collar Proofs.