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Grading and Quality Standards
We follow the PCGS & NGC 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 desirable coins within each grade. Learn more and contact us for coin collection appraisal.
MS-70
Fully struck and lustrous, free of visual marks. The PCGS 70 grading standard does allow for “as minted” defects, as long as those flaws are minor and do not impact the eye appeal of the coin.
MS/PR-69
Virtually fully struck with minuscule imperfections visible upon close inspection.
MS/PR-68
Only the slightest weakness in strike with a few tiny imperfections barely visible.
MS/PR-67
Very well struck with minor imperfections visible without magnification.
MS/PR-66
Well struck with a few marks or hairlines, not in focal areas.
MS/PR-65
Above average strike with minor marks or hairlines, mostly out of focal areas.
MS/PR-64
Average or better strike with scattered marks or hairlines, though none severe.
MS/PR-63
Average or slightly weak strike with moderate marks or hairlines.
MS/PR-62
No wear, with average or below average strike. Numerous marks or hairlines.
MS/PR-61
No wear, with average or weak strike. Multiple heavy marks or hairlines allowed.
MS/PR-60
No wear. May be poorly struck with many heavy marks or hairlines.
AU-58
Only the slightest friction on the highest points. Virtually full luster.
AU-55
Full detail, with light friction on the high points. Considerable luster remains.
AU-53
Slight flatness and loss of luster visible on high points of design. Some luster remains.
AU-50
Trace of wear now seen on higher points of design. Bits of luster may remain.
XF-45
High points of design show light wear. A bit of luster may still be visible in protected areas.
XF-40
All design elements still show, but high points now worn flat. Little to no luster remains.
VF-35
Light wear is seen over entire surface though all major detail still visible.
VF-30
Wear now evident over entire surface. Intricate design detail beginning to flatten.
VF-25
Entire surface shows some wear, but major design features remain clear.
VF-20
Moderate wear with some loss of detail evident in design.
F-15
Slightly less than half of finer detail worn flat. All lettering remains sharp and clear.
F-12
About half of detail now worn flat. All lettering remains visible.
VG-10
Considerable wear has flattened most of the fine detail. Most lettering remains readable.
VG-8
Most central detail now worn flat. Some inner lettering still visible. Rims remain full.
G-6
Rims and peripheral lettering full but design now flat and visible only in outline form.
G-4
Rims mostly full but may be flat or slightly worn into peripheral letter in spots.
AG-03
Rims worn into tops of lettering but most lettering remains readable.
FR-2
Entire coin is worn flat, with only traces of peripheral lettering still visible.
PO-1
Identifiable as to type, date and mintmark.
UNGRADABLE
Date and mintmark of coin must be detectable to be graded.
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.
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.
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.