What is the Sheldon scale?

The Sheldon scale is a 1-to-70 numeric system for grading coins, devised by Dr. William Sheldon in 1949. It runs from P-1 (Poor) through circulated grades to MS-70 (a flawless mint-state coin). PCGS and NGC both grade on this scale.

What does MS mean before a grade number?

MS stands for Mint State, meaning the coin has no wear from circulation. MS grades run from MS-60 to MS-70. Proof coins use PR or PF instead, but share the same 60-to-70 numbers.

What is the difference between AU and MS?

AU (About Uncirculated, grades 50-58) coins show only the slightest trace of wear on the highest points. MS (Mint State, 60-70) coins show no wear at all. The jump from AU-58 to MS-60 is about the presence of any rub, not eye appeal.

Why are some grades skipped on the scale?

Not every number from 1 to 70 is used. Common grade points are 1, 2, 3, 4, 6, 8, 10, 12, 15, 20, 25, 30, 35, 40, 45, 50, 53, 55, 58, then 60 through 70. The gaps reflect meaningful, distinguishable steps in condition.

Does a higher grade always mean more value?

Generally yes, but value also depends on rarity, mintage, demand, and eye appeal. A common coin in MS-65 may be worth little, while a rare key date in VF-20 can be worth a great deal. Grade is one factor among several.

What is the Coin Grading Reference Tool?

Select a grade from P-1 through MS-70 to display the full Sheldon scale description, strike and luster criteria, and the collector grade tier it falls in. A reference for numismatists and coin collectors. It runs free in your browser on Gera Tools, with nothing uploaded.

Coin Grading Reference Tool

Name: Coin Grading Reference Tool
Creator: Gera Tools
License: https://creativecommons.org/licenses/by/4.0/

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The Sheldon scale assigns a coin a number from 1 to 70 that captures how much wear and detail it shows. This reference lets you look up any grade point and see the standard description so you can sanity-check a listing or your own assessment.

The Sheldon scale at a glance

The scale was created by Dr. William Sheldon in 1949 and is the basis for modern grading by PCGS and NGC. It is divided into broad tiers:

P-1 .. FR-2      Poor / Fair        barely identifiable
AG-3 .. G-6      About Good / Good  heavy wear, rims worn
VG-8 .. VG-10    Very Good          design clear but worn
F-12 .. F-15     Fine               moderate even wear
VF-20 .. VF-35   Very Fine          light to moderate wear
EF-40 .. EF-45   Extremely Fine     slight wear on high points
AU-50 .. AU-58   About Uncirculated trace of wear only
MS-60 .. MS-70   Mint State         no wear; 70 is flawless

Mint State coins are separated by the number and severity of contact marks, strike quality, and luster rather than wear. An MS-70 has no flaws visible at 5x magnification.

Walking through the grades with examples

EF-40 (Extremely Fine): Full design detail remains, but the highest points — hair strands, feather tips, or a portrait’s cheekbone — show slight flattening from wear. At a glance the coin looks nearly unworn, but a loupe reveals the flatness.

AU-50 to AU-58 (About Uncirculated): Even the highest points are nearly complete, with only a faint trace of friction from brief circulation or improper handling. AU-58 coins are often more visually attractive than an MS-60, which can have many contact marks from bag handling despite never circulating.

MS-60 to MS-65 (Mint State, lower to mid range): No wear, but varying degrees of contact marks, hairlines, and imperfect luster. MS-60 may look quite battered from bag contact; MS-65 shows only minor marks under magnification with appealing luster.

MS-67 to MS-70: Reserved for exceptional coins. An MS-70 is considered perfect — no flaws under 5× magnification. For modern bullion coins and proofs, this standard is attainable; for early American coinage it is essentially nonexistent.

What grading services look at beyond the number

The numeric grade captures wear and surface quality, but experienced collectors also consider:

Strike: How sharply the design was pressed into the planchet. A weakly struck coin with original surfaces can grade MS-65 yet look less impressive than a well-struck MS-63.
Luster: The cartwheel sheen of original mint surfaces. Cleaned coins lose their luster and are noted separately as “improperly cleaned.”
Eye appeal: Two MS-64 coins can look quite different. Toning, color, and mark placement relative to design elements affect desirability even at the same grade.
Varieties: Major varieties (doubled dies, mintmark repunchings) can command large premiums at the same grade number.

Notes on using the reference

Grading is partly subjective: two experienced graders can disagree by a point, which is why third-party slabs from PCGS and NGC command a premium for their consistency. When buying a raw (unslabbed) coin from a dealer description, treat the stated grade as an estimate and examine the coin or photos critically. Grade is one factor — rarity, eye appeal, and strike quality determine value alongside it.