Grading Basics: From Good to Mint State — Coin Collecting Lessons

Grade means how much wear a coin has, and it drives value more than almost anything else. The same coin can be worth $2 worn and $200 pristine. US coins are graded on a 70-point scale, but as a beginner you only need the main letter grades, from most worn to least: G (Good) — heavily worn, design flat but major elements and date readable. VG (Very Good) — worn, but a bit more detail survives. F (Fine) — moderate even wear, all lettering clear. VF (Very Fine) — light wear on the high points, most detail sharp. XF or EF (Extremely Fine) — only slight wear on the highest points, traces of mint luster may remain.

Then the top tier: AU (About Uncirculated) — just a whisper of friction on the very highest points; looks new until you tilt it under a light. MS (Mint State, 60-70) — no wear at all, never circulated. Within Mint State, the number reflects luster, strike quality, and how many marks the coin picked up in mint bags: MS60 is baggy and dull, MS65 is a 'gem,' and MS70 is flawless (essentially only seen on modern coins).

To practice, look at the highest points of the design first — Lincoln's cheekbone and jaw, Washington's hair — because wear hits those first. Compare your coin against photos of graded examples (PCGS Photograde is free online). Everyone over-grades their own coins at first; assume your guess is a grade optimistic and you'll be about right.

Tip: Tilt the coin under a single light source. Unbroken 'cartwheel' luster sweeping across the whole surface is the signature of an uncirculated coin; dull gray high points mean wear.