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Coin Grading - The 1-70 Point Sheldon Coin Grading Scale...
Ian Russell on Sun, Feb 05, 2012 12:21:42 PM
As you will see on our websites, coins are graded by the three leading third-party grading services: PCGS, NGC and ANACS.  Each service will grade a coin between 1 and 70, which is based on the Sheldon Scale, developed by Dr. William Sheldon in 1949.  It is the standard for the rare coin industry.

Sheldon Scale for Grading U.S. Coins

Poor-1 or P-1 (Poor)
Fair-2 or FR-2 (Fair)
AG-3 (About Good)
G-4 (Good)
G-6 (Good-plus)
VG-8 (Very Good)
F-12 (Fine)
VF-20 (Very Fine)
VF-30 (Good Very Fine)
EF-40 (Extremely Fine)
XF-45 (Choice Extremely Fine)
AU-50 (About Uncirculated)
AU-55 (Good About Uncirculated)
AU-58 (Choice About Uncirculated)
MS-60 - MS-70 (Mint State)

There can be a large value difference between even one grading level, particularly on condition rarities.  Mint State in particular can jump between MS-63 and MS-64 and MS-65, depending on the coin issue.

Proofs - Proofs are a type of coins, and generally fall into the Proof-60 - Proof-70 numerical grading, since most proofs have not been circulated.

In addition to grading numerically, additional attributes are added for certified coins, including PL for Proof Like, DMPL/DPL for Deep Mirror Proof Like, DCAM/UC for Deep Cameo/Ultra Cameo and so forth.