How Coin Grading Works: The 70-Point Sheldon Scale

November 13, 2026

Quick answer: U.S. coins are graded on the Sheldon scale, which runs from 1 (barely identifiable) to 70 (flawless). Grades of 60 and up are uncirculated, and a prefix such as MS (Mint State), PF (Proof) or SP (Specimen) tells you how the coin was made. A 70 shows no post-production flaws under 5x magnification, while a 69 has tiny flaws that are hard to see.

What is the Sheldon scale?

The 70-point scale comes from Dr. William H. Sheldon. He introduced it in his 1949 book Early American Cents as a way to grade early copper large cents. His idea was simple: give every level of wear a number, so collectors could describe a coin the same way.

The American Numismatic Association (ANA) later adapted the scale for all U.S. coins. Today both major grading services, PCGS and NGC, use it. A 1 is a coin so worn you can barely tell what it is. A 70 is a perfect coin.

What do MS, PF and SP mean?

The letters before the number tell you how the coin was made, not how good it is.

MS (Mint State): a coin struck the normal way, like a circulation or bullion coin, that has never been worn. MS grades run from 60 to 70.
PF or PR (Proof): a coin struck in a special format for collectors, usually with mirror-like fields and frosted designs. NGC writes PF. PCGS writes PR. They mean the same thing.
SP (Specimen): a catch-all for coins made with special care whose surfaces are neither normal Mint State nor true Proof. NGC describes it as a hybrid between the two.

Proofs can be graded below 60 too. A proof that has been handled or worn gets a lower number but keeps its PF or PR prefix.

What are the grade bands?

Below 60, coins show wear, and not every number is used. Here are the bands both services use.

Grade	Name	Abbreviation	What it means
1	Poor	PO	Barely identifiable
2	Fair	FR	Extremely worn; outline of the design visible
3	About Good	AG	Very heavily worn
4–6	Good	G	Heavy wear; main design visible
8–10	Very Good	VG	Well worn; some detail visible
12–15	Fine	F	Moderate, even wear
20–35	Very Fine	VF	Light to moderate wear on high points
40–45	Extremely Fine	XF or EF	Light wear on the highest points
50–58	About Uncirculated	AU	Traces of wear only
60–70	Mint State / Proof	MS, PF/PR, SP	No wear; graded on marks, luster, strike and eye appeal

Above 60, wear is no longer the question. Graders look at contact marks, hairlines, luster, how fully the design was struck, and overall eye appeal. Our glossary defines these terms.

What does 69 vs. 70 really mean?

This is the question most buyers of modern coins ask. NGC defines a 70 as a coin with no post-production imperfections at 5x magnification. A 69 is fully struck, with flaws that are nearly imperceptible.

In plain terms, a 69 and a 70 usually look the same to the naked eye. The difference is a tiny mark, spot or hairline that a grader finds under a loupe. That gap still matters to many collectors, especially for registry sets. Our guide to MS70 vs. PF70 vs. MS69 goes deeper.

What is a details grade?

Some coins have a problem that rules out a normal number. Common reasons include harsh cleaning, scratches, damage, tooling and corrosion from the environment.

Instead of a straight grade, both services can certify the coin as genuine and note the problem. The label then shows the problem and a grade such as “XF Details” to describe how much wear the coin has apart from that issue. A details coin is not the same as a straight-graded coin at the same level. The ANA notes that cleaning or damage can lead to a details grade and lower a coin’s value.

Who grades coins?

Grading is done by independent third-party services. The two biggest in U.S. coins are:

PCGS (Professional Coin Grading Service): founded in 1986. It popularized sealing graded coins in tamper-evident plastic holders, often called slabs.
NGC (Numismatic Guaranty Company): founded in 1987. It has used the Sheldon scale since it opened.

Both services authenticate the coin, assign a grade, add designations where they apply, and seal it in a holder with a unique certification number. Labels can also carry finish notes, such as Ultra Cameo at NGC or Deep Cameo (DCAM) at PCGS for proofs with strong contrast. For a side-by-side look, see NGC vs. PCGS, and for every line on a label, see our coin label guide.

Is grading an exact science?

No. The ANA calls grading more art than science. Two skilled graders can look at the same coin and disagree by a point. A grade is an expert opinion, backed by the grading service’s guarantee, not a measurement.

That is why the coin itself matters as much as the number. Within the same grade, some coins have better luster, a stronger strike or nicer toning.

Affinity Collectibles, an NGC Authorized Dealer and ANA member that also submits coins to PCGS, is happy to walk you through any grade on a coin you are considering. Reach us through our contact page.

Frequently asked questions

Why does the scale stop at 70?

Sheldon’s original scale used 70 as the top. The number stuck when the ANA and later the grading services adopted the system.

Is PF70 better than MS70?

Neither is better. They describe different kinds of coins. PF70 is a perfect proof, and MS70 is a perfect Mint State coin.

What is the lowest uncirculated grade?

MS60. NGC calls 60 the threshold for a coin to count as uncirculated.

Can a cleaned coin get a number grade?

Usually not if the cleaning left visible damage, such as hairlines or an unnatural shine. Those coins typically receive a details grade.