Coin Grading Guide
Everything you need to know about coin grading — the Sheldon scale, professional grading services (PCGS, NGC, ANACS), submission tips, and FAQs.
What Is Coin Grading?
Coin grading is the process of evaluating a coin's physical condition and assigning it a numeric grade that represents its level of preservation. The grade directly affects a coin's market value — the difference between a VF-30 and an MS-65 example of the same coin can be thousands or even tens of thousands of dollars.
Professional grading services examine coins under magnification, assess factors like wear, luster, strike quality, and eye appeal, then seal the coin in a tamper-evident holder (called a "slab") with a label showing the assigned grade. This provides buyers and sellers with a trusted, standardized assessment.
The Sheldon Grading Scale (1–70)
All major grading services use the Sheldon scale, a numeric system from 1 to 70 developed by Dr. William Sheldon in 1949. The scale is divided into categories based on the amount of wear visible on the coin:
| Grade Range | Category | Description |
|---|---|---|
| P-1 | Poor | Barely identifiable, heavy wear |
| FR-2 | Fair | Heavily worn, outline visible |
| AG-3 | About Good | Very heavily worn, major details clear |
| G-4 to G-6 | Good | Major design elements visible, most details worn smooth |
| VG-8 to VG-10 | Very Good | Design clear, some details visible |
| F-12 to F-15 | Fine | Moderate wear on high points, all lettering sharp |
| VF-20 to VF-35 | Very Fine | Light to moderate wear, major features sharp |
| EF-40 to EF-45 | Extremely Fine | Light wear on highest points only |
| AU-50 to AU-58 | About Uncirculated | Slight wear on the highest points, most luster remaining |
| MS-60 to MS-70 | Mint State | No wear — uncirculated. MS-70 is a theoretically perfect coin |
| PF-60 to PF-70 | Proof | Specially struck coins with mirror-like fields |
How Professional Grading Works
The grading process follows a standard workflow at all major services:
- Submission — You send your coins to the grading service (directly, through a dealer, or at a coin show). Each coin is logged and assigned a submission number.
- Authentication — Experts verify the coin is genuine, checking for counterfeits, alterations, and artificial toning.
- Grading — Multiple graders independently evaluate the coin and assign a grade. Their assessments are combined into a final grade using the 1-70 scale.
- Encapsulation — The coin is sealed in a sonically welded, tamper-evident plastic holder with a label showing the grade, date, denomination, and certification number.
- Return — The slabbed coin is shipped back to you, ready for your collection or sale.
Major Coin Grading Companies
Five companies dominate the professional coin grading market. Each has different strengths, pricing, and areas of specialization:
PCGS
Professional Coin Grading Service
The most widely recognized grading service for US coins. Founded in 1986, PCGS has graded over 200 million coins.
NGC
Numismatic Guaranty Company
The world's largest third-party grading service. Preferred for world coins, ancient coins, and tokens.
ANACS
ANACS (formerly American Numismatic Association Certification Service)
The oldest grading service in the US, founded in 1972. Known for affordable grading and variety attributions.
ICG
Independent Coin Graders
An independent grading service offering competitive pricing and fast turnaround times.
CGC
Certified Guaranty Company
A newer entrant to coin grading from the trusted CGC brand, known for comics and trading cards grading.
Submitting Coins at Coin Shows
One of the best places to submit coins for grading is at a coin show. Major shows often have on-site representatives from PCGS, NGC, and ANACS accepting submissions directly. This eliminates shipping risk and sometimes offers faster turnaround. Check our state-by-state show listings to find events near you where grading submissions are available.