Business Strike

Coins intended for general circulation are referred to as Business Strike coins. These coins have a matte finish, just like a nickel or quarter that you may have in your pocket right now. The subset of these coins that is at or near the top condition are called Mint State. A coin from the old West that is in superior condition, with minimal visible scratches, for example, may achieve a grade of Mint State 64, written as “MS64.”

Proof Coins

Proof coins differ in appearance from Mint State coins. The term “Proof ” refers to the method of manufacture and not the condition of the coin. Proof coins are struck on a highly polished planchet (as blank coins are called) giving the fields a mirrored effect while the image or portrait has razor-sharp edges and a frosted finish. Historically, proof coins were sometimes minted and given to members of Congress, placed on display at exhibits and gifted to foreign dignitaries. These coins were never intended for general circulation and are generally considered to be quite rare.

The United States Mint in gold, silver and platinum makes Modern Proofs. The mintages of these coins are nearly always a small fraction of the Business Strike coins that are circulated as bullion. Oftentimes, the Mint will set a production limit or only produce them for a certain period of time. These Proofs are intended for collectors and investors and trade at a much higher premium above the spot price of gold, even before they are certified.
Proof coins that are certified are denoted with the letters “Pr” or “PF” and are mostly valued by investors when they achieve the coveted Proof 70 status, since these are the rarest of the rare.
Coins are Evaluated with the Sheldon Grading Scale

The Sheldon Coin Grading Scale

The Sheldon Grading Scale categorizes a coins condition by number, grade and description. This scale is the most commonly used grading system to assign a quality of condition to coins. Numbers:
#1 / Poor-Clear enough to identify, date may be worn smooth with one side of the coin blanked. Coins that are very badly corroded may also fall under this category.

#2 / Fair-Some detail shows.

# 3 – 3.5 / About Good, Almost Good-readable lettering although very heavily worn. The date and design may be worn smooth.
#4 / Good-rims of the coin are slightly worn, design is visible but faint in areas with many parts of the coin worn flat. Peripheral lettering nearly full.

#6 / Choice Good-rims of the coin are complete peripheral lettering full.

#8 / Very Good-Slight detail shows, two to three letters of the word liBerTY show with coins of this feature, for example.

#10 / Choice Very Good-Slightly clearer design features, five or possibly six letters of the word liBerTY would show with coins of this feature.

#12 / Fine-Some deeply recessed areas with detail, all lettering is sharp, The word liBerTY is complete with coins
of this feature but may be weak. Moderate to considerable even wear throughout the coin.

#15 / Choice Fine-Slightly more detail in the recessed areas of the coin.

#20 / Very Fine-Moderate wear on the higher surface features.

#25 / Very Fine-all lettering and major features are sharp, light to moderate even wear is seen on the surface and high points of the coin.

#30 / Choice Very Fine-all lettering and major features are sharp, light even wear is seen on the surface and high points of the coin.

#35 / Choice Very Fine-all lettering and major features are sharp, light even wear is seen on the surface and high points of the coin. Traces of mint luster may show.

#40 / Extremely Fine/Extra Fine-overall sharpness, light wear at the highest points of the coin, details of the coin are sharp. Traces of mint luster may show.

#45 / Choice Extremely Fine-Slight overall wear at the highest points of the coin (examples being raised features), all the details are full and very sharp. Mint luster may show only in protected areas of the coin’s surface.

#50 / About Uncirculated,Almost Uncirculated-Traces of wear at the highest points of the coin, at least half of the original mint luster remains.

#55 / Choice About Uncirculated-Three-fourths of the original mint luster remains.

#58 / Choice About Uncirculated-almost all of the original mint luster remains.

#60 / MS60 or PF60-Unattractive, dull or washed out mint luster may mark this coin. There may be many large detracting contact marks, or damage spots, but absolutely no trace of wear. Rim nicks may be present, and eye appeal is very poor. Copper coins may be dark, dull and spotted.

#61 / MS61 or PF61-Mint luster may be diminished or noticeably impaired, and the surface has clusters of small contact marks throughout. hairlines could be very noticeable. Scuff-marks may show as unattractive patches on large areas or major features.

#62 / MS62 or PF62-impaired or dull luster may be evident. Clusters of small marks may be present throughout with a few large marks or nicks in prime focal areas. hairlines may be very noticeable. large unattractive scuff-marks might be seen on major features. The strike, rim and planchet quality may be noticeably below average.

#63 / MS63 or PF63-Mint luster may be slightly impaired. numerous small contact marks, and a few scattered heavy marks may be seen. Small hairlines are visible with- out magnification. Several detracting scuff marks or defects may be present throughout the design or in the fields. The general quality is average, but overall the coin is rather attractive.

#64 / MS64 or PF64-Coin has average luster and strike for the type. Several small contact marks in groups, as well as one or two moderately heavy marks may be present. one or two small patches of hairlines may show under low magnification. noticeable light scuff marks or defects might be seen within the design or in the field. Attractive overall quality with a pleasing eye appeal.

#65 / MS65 or PF65 -Coin shows an attractive high quality of luster and strike for the date and mint. a few small scattered contact marks, or two larger marks may be present, and one or two small patches of hairlines may show under magnification. overall quality is above average and overall eye appeal is very pleasing.

#66 / MS66 or PF66-Coin has above average quality of strike and full original mint luster, with no more than two or three minor but noticeable contact marks. a few very light hairlines may show under magnification, or there may be one or two light scuff marks showing on frosted surfaces or in the field. The eye appeal must be above average and very pleasing for the date and mint.

#67 / MS67 or PF67-Coin has a sharp strike with full original luster, May have three or four very small contact marks and one more noticeable but not detracting mark. on comparable coins, one
or two small single hairlines may show under magnification, or one or two partially hidden scuff marks or flaws may be present. eye appeal is exceptional.

#68 / MS68 or PF68-Coin has a sharp strike with full original luster, with no more than four light scattered contact marks or flaws. no hairlines or scuff marks show. Copper coins have lustrous original color. eye appeal is exceptional.

#69/ MS70 or PF69-Coin has a sharp strike with full original luster, with no more than two small non-detracting contact marks or flaws. no hairlines or scuff marks are visible. eye appeal is exceptional.

#70 / MS70 or PF70-The perfect coin, as minted. has no trace of wear, handling, scratches or contact with other coins. Coins in this grade are almost non-existent in older coins with very few examples known. Copper coins are bright with full original color and luster. eye appeal is exceptional.

Frisco Gold and Silver Exchange deals in Silver and Gold Bullion. We buy coins and bullion from customers everyday our inventory is constantly changing. We would like to help you achieve your investment goals in gold and silver bullion and other precious metals. Come visit our location and talk to one of our associates! We look forward to seeing you.