Grading Circulated Coins
Once a coin enters commercial monetary circulation it begins to show signs of
wear. As time goes on, the coin becomes more and more worn until, usually after
many decades, only a few of the coin's original detailed features may be left.
While the numbers from 1 through 59 are continuous on the Sheldon scale, it
has been found practical to restrict their use to the limited number that follow. The
following descriptions and their numerical equivalents apply.
Choice About Uncirculated-55 (ALL 55). Only a small trace of wear is visible on
the highest points of the coin. As is the case with other grades here, specific wear
information is needed for each coin type and denomination since wear patterns often occur in different spots on coins of different designs.
About Uncirculated-50 (AU-50). There are traces of wear on nearly all of the
highest areas. At least half of the original mint lustre is present.
Choice Extremely Fine-45 (EF-45). There is light overall wear on the coin's
highest points. All design details are very sharp. Mint lustre is usually seen only in
the protected areas of the coin's surface. That remaining in the open fields is very
diminished or almost non-existent.
Extremely Fine-40 (EF-40). There is only slight wear, but it is more extensive
than on an EF-45 coin, and the coin still has excellent overall sharpness. Traces of mint lustre may still show in the protected areas within the legends.
Choice Very Fine-30 (VF-30). There is light, even wear on the surface. Design
details on the highest points are lightly worn, but all lettering and major features
are somewhat sharp.
Very Fine-20 (VF-20). The coin is as the proceeding, but with moderate wear
on the highest parts, such that the features and lettering are no longer sharp.
Fine-12 (F-12). There is moderate to considerable, even wear. The entire design
is bold. All lettering is visible, but with some weaknesses.
Very Good-8 (VG-8). The coin is well worn. Most fine details, such as hair
strands on the portrait, leaf details in wreaths, and so on, are worn nearly smooth.
The legend and date are legible.
Good-4 (G-4). The coin is heavily worn. Major designs are visible, but with
faintness in areas. Other major features are visible in outline form, without any
centre detail. Some of the lettering may be very faint.
About Good-3 (AG-3). The coin is very heavily worn, with portions of the
lettering, date and legends worn smooth. The date is barely legible.
Note: The exact descriptions of circulated grades may vary widely from coin issue
to coin issue. The preceding is only a very general characterization of the grades.