How to Grade Mint State Coins
Mint state coins are all new pennies. By definition the coins have never been circulated. They somehow got misplaced at the bank, fell into the hands of a distracted coin collector who ignored them and now, years or decades after their minting, they are finally exposed to the light. An expert can find defects even among these brand new coins. There are 11 grades of mint state coins. The best, the one coin in 100,000 is graded MS-70. Coins dealers call the least of these new pennies MS-60s. When you break open a roll of brand new coins and hand it to an experienced coin appraiser, this is what he can see that you cannot.
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Instructions
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Form an impression of both sides of the coin under bright light. Look at the surface preservation, how sharply the coin was struck at the mint, the luster and the general eye-appeal of the coin.
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Look at the coin through a magnifying glass or loupe. Sharply struck coins with no visible imperfections under magnification and full mint luster are MS-68 or above. Lesser coins with very small marks from being in a bag with other coins should be graded between MS-65 and MS-68.
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Grade coins that were struck with slightly worn coin dies and that are marred with bag marks no less than MS-62 and no higher than MS-64.
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Grade poorly struck coins with bag marks and other surface distractions that show no signs of circulation as MS-60 or MS-61.
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