Coin grading scales: Sheldon, European and Polish
Updated:
The same coin can cost a few dollars or a few thousand, and the difference usually comes down to its grade. Collectors meet three scales: the Sheldon scale (1–70), used worldwide, and two traditional scales you will see in Polish and other European catalogues. Below we explain how to read them, how they roughly correspond, and how to judge a coin yourself.
Why grade matters so much
A coin’s price depends on three things: rarity, demand and condition. You cannot influence the first two, but you can learn to judge condition yourself, and that decides whether you pay a fair price. The difference between an uncirculated coin and a heavily worn one is often a multiple of the price.
Grading is largely subjective. Two people can grade the same coin half a step apart, and sellers tend to be more generous than buyers. That is why it pays to know the scales and to check a listing’s grade yourself. For the other half of the value equation, see our article on rarity scales.
The Sheldon scale (1–70)
The Sheldon scale is a numerical system from 1 to 70, devised by William Sheldon in the mid-20th century for American coins. Today it is the international standard: grading companies such as NGC and PCGS use it, and so do auction houses around the world. The number is preceded by an abbreviation of the grade group.
| Abbreviation | Range | Meaning |
|---|---|---|
| PO, FR, AG | 1–3 | Very heavily worn, barely identifiable |
| G | 4–6 | Main outlines visible, details worn away |
| VG | 8–10 | Outlines clear, details partly legible |
| F | 12–15 | Heavy wear, but the main design elements remain |
| VF | 20–35 | Moderate wear, most details sharp |
| XF (EF) | 40–45 | Light wear on the highest points only |
| AU | 50–58 | Almost uncirculated, minimal traces of circulation |
| MS | 60–70 | Mint State: uncirculated, no wear |
| PF (PR) | 60–70 | Proof: a special strike with mirror-like fields |
Within Mint State (MS 60–70) the difference lies in surface quality, lustre, the number and severity of small marks, and overall eye appeal. MS 70 is a coin with no visible flaws. NumiStack offers grades from PO 1 to MS 70, plus the proof grades PF 60–70.
Traditional European and Polish scales
Older European catalogues use a six-step scale written with Roman numerals: I (mint state), II (excellent), III (very fine), IV (fine), V (very good), VI (good), with plus and minus signs for intermediate steps, for example II+ or III-. NumiStack offers it as the “European” scale.
Polish catalogues, auctions and shops most often use a scale from 1 (best) to 5 (worst), with plus and minus steps in between. It matters mostly for Polish coins, where sellers quote it by default.
| Sheldon (approx.) | European | Polish | Description |
|---|---|---|---|
| MS 60–70 | I | 1 | Uncirculated |
| AU 50–58 | II | 1- to 2+ | Almost uncirculated |
| XF 40–45 | III | 2 | Light wear, details sharp |
| VF 20–35 | IV | 3+ to 3 | Circulated, design clear |
| F 12–15 | V | 4 | Heavily worn, main elements visible |
| G 4–6 and below | VI | 5 | Very worn, inscriptions hard to read |
There is no official conversion table between the scales. The ranges above are approximate and meant for a quick comparison, not for valuation. Different sources give them slightly differently.
How to judge a coin in practice
- Examine the coin under bright, diffused light, ideally with a 5–10× loupe.
- Start with the highest points of the relief (hair, beard, crown, eagle). Wear shows there first.
- Check the mint lustre: on uncirculated coins it forms swirls around the design, on circulated coins it fades.
- Judge the obverse and reverse separately. If they differ, give both grades or the lower one in your description.
- Record defects independently of the grade: scratches, toning, corrosion, rim damage, surface flaws, milk spots and fingerprints.
- Never clean a coin before grading it. Cleaning leaves hairline scratches and lowers the value more than natural wear.
Slabbed coins (NGC, PCGS)
A slab is a sealed plastic holder with a label on which an independent grading company states the Sheldon grade. Such a grade is usually more reliable and comparable than a seller’s description, but it is not infallible. In NumiStack you can record not only the grade but also the grading company (NGC, PCGS, ANACS and others), the certificate number and the grading date.
Recording condition in NumiStack
In a coin’s card you choose a grading scale (Sheldon, European or custom) and a specific grade; for Polish coins you can also note the condition on the Polish 1–5 scale. Separately you mark defects and whether the coin has been cleaned. The AI scanner can suggest a grade from photos of the obverse and reverse, but it is only a suggestion: doubtful fields are flagged and the decision is always yours.
To learn how to describe a whole collection consistently, read How to catalogue a coin collection.