The Sheldon coin grading scale runs from P-1 (Poor) through MS-70 (Perfect Mint State), with PCGS and NGC both using the same 1–70 numeric ladder. This page lists every grade with its tier name and what it actually means — a quick reference for buyers, sellers, and anyone deciding whether to send a coin in for professional grading.
Poor through About Good (P-1, FR-2, AG-3)
Heavily worn
P-1
Poor
Barely identifiable as a coin. Type only readable; date may be gone.
FR-2
Fair
Heavily worn. Some major details visible; no inner detail.
AG-3
About Good
Rim worn into letters. Heavy wear; outline-only design.
Good and Very Good (G-4 to VG-10)
Major details visible, no inner detail
G-4
Good
Heavy wear. Major design elements outlined but flat.
G-6
Good+
Slightly better than G-4. Rim and lettering still complete.
VG-8
Very Good
All major details readable. Hints of inner detail.
VG-10
Very Good+
Faint inner detail visible.
Fine (F-12, F-15)
Moderate wear, design clear
F-12
Fine
Moderate even wear. Major design details clear; some inner detail.
Light to moderate wear on high points. All major details sharp.
VF-25
VF Choice
Slightly better. Cleaner fields.
VF-30
Choice VF
Light wear; most inner detail present.
VF-35
VF Premium
Approaching XF. Light wear only on highest points.
Extremely Fine (EF/XF-40, EF-45)
Slight wear; some original luster
EF-40
Extremely Fine
Slight wear on highest points. Most details sharp.
EF-45
Choice EF
Trace wear; partial luster in protected areas.
About Uncirculated (AU-50 to AU-58)
Trace wear; nearly mint state
AU-50
About Unc.
Trace wear on highest points. At least half of the original luster present.
AU-53
AU Choice
Wear barely visible. Three-quarters of luster present.
AU-55
Choice AU
Tiny rub on highest design points. Most luster intact.
AU-58
AU Premium
Near-mint. Faint friction on a single high point. Often more attractive than MS-60.
Mint State 60–64
Uncirculated; varying eye appeal
MS-60
Mint State
Strictly uncirculated but heavily bag-marked or unattractive.
MS-61
MS-61
Uncirculated with many marks; below average eye appeal.
MS-62
MS-62
Uncirculated with above-average marks.
MS-63
Choice BU
Choice BU. Average for the grade — moderate marks but pleasing.
MS-64
Near-Gem
Above-average marks for the date. Strong eye appeal.
Mint State 65–67
Gem and Superb Gem
MS-65
Gem BU
Gem uncirculated. Few minor marks; strong luster and strike.
MS-66
Premium Gem
Excellent eye appeal. Marks small and unobtrusive.
MS-67
Superb Gem
Superb. Only the most minor marks under magnification.
Mint State 68–70
Nearly perfect to perfect
MS-68
MS-68
Virtually perfect surfaces. Tiny detractions only at high magnification.
MS-69
MS-69
Practically flawless. Common only on modern bullion and proofs.
MS-70
Perfect
No flaws under 5× magnification. Essentially impossible for circulation strikes; common for modern proofs and bullion.
Reading a grade in practice
The numbers on the Sheldon scale are not linear price multipliers — they describe surface preservation. A G-4 to VF-20 jump on a common date might double the price; the same numeric jump from MS-64 to MS-65 on a tough date can mean a 5× to 20× price increase because gem-quality survivors are scarce. Grade is the single largest driver of collector value, often dwarfing date and mintmark.
Most circulated coins fall between G-4 and AU-58. Mint State coins (MS-60+) come from coins that never circulated — usually pulled from rolls or sets at the Mint, or held back by collectors. The difference between MS-63 ("choice BU") and MS-65 ("gem") is the threshold most buyers pay attention to: gem-quality coins anchor the modern collector market.
Common surface designations
Beyond the numeric grade, PCGS and NGC apply suffix designations that describe surface character:
Code
Meaning
FB / FBL / FH / FT / FS
Full Bands (Mercury, Roosevelt), Full Bell Lines (Franklin), Full Head (Standing Liberty), Full Torch (Roosevelt), Full Steps (Jefferson) — strike-quality designations.
CAM
Cameo. Frosted devices over mirror fields on a proof.
DCAM / UCAM
Deep / Ultra Cameo. More dramatic frost-to-mirror contrast.
PL
Proof-Like. Mint State business strike with mirror-like fields.
DMPL
Deep Mirror Proof-Like. Reflective fields readable at 6+ inches. Common on Morgan dollars.
RD / RB / BN
For copper coins: Red, Red-Brown, Brown — original color description. RD carries the highest premium.
+ (PCGS)
Coin is at the high end of its grade. Roughly top 30% of submissions at that grade.
★ (NGC Star)
Exceptional eye appeal. Often awarded for attractive toning or superior strike.
Details
The coin would qualify for a numeric grade but has been cleaned, scratched, environmentally damaged, or otherwise impaired. Sells at a discount to a problem-free coin of similar grade.
PCGS vs NGC
Professional Coin Grading Service (PCGS, founded 1986) and Numismatic Guaranty Company (NGC, founded 1987) are the two dominant third-party grading services. Both use the Sheldon 1–70 scale and the same definitions for each grade, and both guarantee authenticity and grade. In secondary markets, PCGS-graded Mint State coins of the same nominal grade often command a small premium (typically 5–15%) over NGC equivalents, while NGC is sometimes preferred for circulated and toned material. For modern bullion, the two are largely interchangeable.
Should you send a coin in for grading?
Professional grading is worth it when the coin's graded value materially exceeds raw-buy market plus the grading fee (typically $20–$45 per coin for standard tiers, more for high-value items). Rule of thumb: if the coin is worth less than $100 raw, grading rarely pays. If it's a key date, a high-grade common date where the slab adds confidence, or a variety that needs attribution, it's usually worth doing. The how to grade a coin guide walks through self-assessment before submitting.
More grading and value resources
How to grade a coin — the long-form companion guide. Walks through self-assessment before submitting to PCGS or NGC.
LuckyGrade — interactive grading practice with real graded coins. Train your eye against PCGS and NGC slabs.
All tools: melt-value calculators for silver, gold, platinum, palladium, and copper.
Preguntas frecuentes
¿Qué es la escala Sheldon de graduación de monedas?
La escala Sheldon es un sistema numérico de 1–70 creado por el Dr. William Sheldon en 1949 (originalmente en su libro "Early American Cents, 1793–1814") para valorar los large cents tempranos de EE. UU. PCGS y NGC adoptaron la escala en los años 80 como estándar de la industria para todas las monedas de EE. UU. La escala va de P-1 (Pobre) hasta MS-70 (Estado Mint Perfecto), con los proofs graduados en la misma escala numérica usando los prefijos PR o PF.
¿Por qué un MS-65 vale tanto más que un MS-63?
La escala de precios entre grados Mint State es no lineal. MS-63 ("choice BU") es aproximadamente el piso de una moneda no circulada atractiva, mientras que MS-65 es el umbral de calidad "gem" — significativamente menos sobreviven al nivel gem para la mayoría de las series, especialmente las acuñaciones anteriores a 1934. Para dólares Morgan de fechas comunes, el salto de MS-63 a MS-65 es típicamente 2–4×; para fechas más raras y series más difíciles (Walking Liberty halves tempranas, Indian Head cents de cecas sucursales), el mismo salto puede ser 10× o más.
¿Cuál es la diferencia entre AU-58 y MS-60?
Ambos grados describen monedas con detalles originales esencialmente completos. AU-58 tiene un leve y único roce en el punto más alto por circulación; MS-60 es técnicamente no circulada pero fuertemente marcada por la bolsa o poco atractiva. En la práctica, los ejemplares atractivos AU-58 a menudo son más atractivos visualmente que los MS-60 y pueden venderse a precios similares o superiores a pesar del grado técnicamente inferior. Muchos coleccionistas prefieren AU-58 para fines de type-set cuando los precios MS son prohibitivos.
¿En qué se diferencian PCGS y NGC?
Ambos usan la misma escala Sheldon 1–70 y los mismos estándares. En la práctica, PCGS tiene reputación de ser ligeramente más estricto en strikes de Mint State (un MS-65 de PCGS a veces vale un poco más que el grado NGC equivalente en precios de distribuidor). NGC a veces se considera ligeramente más generoso en grados con tonos y circulados. Ambas compañías garantizan el grado y autentican la moneda — las monedas en cualquier holder se negocian activamente. Las primas de subasta entre los dos suelen ser pequeñas (5–15%) y varían según la serie.
¿Qué significan CAM, DCAM, PL y DMPL?
Son designaciones de superficie para monedas Mint State y Proof. CAM (Cameo) y DCAM (Deep/Ultra Cameo) describen proofs con relieves esmerilados contra campos espejados — DCAM es más dramático. PL (Proof-Like) y DMPL (Deep Mirror Proof-Like) describen strikes Mint State de negocio con campos tipo espejo, comunes en dólares Morgan. Un "Morgan en MS-65 DMPL" se negocia con una prima significativa sobre un MS-65 simple.
¿Qué significa la designación "+" o "Star"?
Ambos indican atractivo visual excepcional dentro de un grado. PCGS usa "+" (p. ej. MS-65+) para monedas en el extremo superior de un grado — típicamente el 30% superior de las presentaciones a ese grado. NGC usa Star (p. ej. MS-65★) para atractivo visual superior al promedio, a menudo otorgado por tonos atractivos, superficies tipo proof o strike superior. Ambas designaciones llevan primas de precio del 10–50% sobre el grado simple para series deseables.
¿Cómo afecta el grado al valor de la moneda?
El grado es el mayor factor individual de precio para casi cualquier moneda coleccionable de EE. UU. La diferencia de precio entre un ejemplar circulado G-4 y un MS-65 de la misma fecha puede ser 50× o más para fechas comunes, y cientos de veces para fechas clave. Para monedas raw (sin certificar), los distribuidores típicamente pagan por debajo del equivalente en slab debido a la incertidumbre de graduación. Las acuñaciones de plata anteriores a 1965 en grados desgastados (G–VG) a menudo se negocian al valor de fundición de la plata independientemente de la fecha, mientras que la misma moneda en MS-65 lleva una prima de coleccionista sustancial.