How to Grade U.S. Mint Coins
The U.S. Mint produces coins in several parts of the country including Philadelphia, Denver and San Francisco. While it is possible to buy newer sets of coins directly from the U.S. Mint, collectors frequently have to settle for circulated coins when acquiring ones from decades ago. Collectors assign grades according to the condition of the coin. The grading scale was devised in 1891 but is somewhat subjective depending on the quality of manufacture. Most uncirculated Lincoln pennies from the mid-1990s, for example, were poorly struck and appear to have wear, even though they really are uncirculated.
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Instructions
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Grade your coins as Mint State (MS) if they have absolutely no trace of handling or wear. The scale goes from MS-70 (absolutely perfect) to MS-60 (shiny with fingerprints or other tiny blemishes). It is rare to have any coins that are above MS-65.
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Assign the grade of Almost Uncirculated (AU) if there is only a trace amount of wear on the highest points of the coin. Different denominations, and different series within a denomination, will have varying high points. It is important to learn where the high points are on each style of your coins so you can grade them accurately. The scale goes from AU-50 to AU-59.
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Grade coins with a small amount of wear on the highest points and still having some mint luster as Extremely Fine (EF). All features should be well defined. The grading scale starts at EF-40 for extremely fine and EF-45 for choice extremely fine.
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Choose Choice Very Fine (VF-30) if there is light wear throughout the surface of the coin but all major features are sharp. A grade of Very Fine (VF-20) would be appropriate for coins that have a noticeable amount of wear on the high points but the major features are still detailed.
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Assign one of the three "Good" grades for coins with more wear. Very Good (VG-8) has features that are still clear but worn nearly flat. Good (G-4) is a much worn coin but the design, lettering and year are still visible. About Good (AG-3) has heavy wear on the date and lettering to the point where it may be completely flat.
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Tips & Warnings
The grade that you assign to your coin is only part of determining its value. Rarity, manufacturing errors, recent sales history and other factors are all considered when estimating a value.
References
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