List of Terms Related to Coinage and Banknotes - Coin Grades.

Piedfort

Proof FDC

Proofs are coins especially struck by a mint on prepared, polished or matte surface planchets (blanks). The dies used for the striking are also polished to produce coins with brilliant surfaces and perfect details. These are not regular, "circulation" coins.

Proof coins are generally sold by the mint or by appointed dealers at a premium.

A perfect or virtually perfect coin. Fully struck up. No contact or other detracting marks visible with the naked eye, and only minute superficial imperfections, relating to the manufacturing process rather than any other cause, may be visible under magnification. Full lustre is present. Toning on silver coins (if present) must be attractive. Brilliance (colour) on bronze coins should be 90% plus. Eye appeal is outstanding. In short this is a completely flawless mint state coin with nothing forgiven. This grade is very rare, not to be taken lightly or accepted easily.

Gem Uncirculated. Equal to MS64 or MS65.

Brilliant Uncirculated (BU, Choice Uncirculated). Equal to MS62 or MS63.

A coin is "Uncirculated" when it is in its "mint state", i.e. the way it left the mint. This is not necessarily perfect - due to the production method there may be imperfections, "bag marks" (scratches from where it hit other coins) etc.

There are traces of wear on most of the higher areas of the designs and considerable disruption is seen in the larger fields. At least half of the original mint lustre is present.

There is a very light overall wear on the coin's higher points, though all of the design details are very sharp. Mint lustre is still prominent on many areas of the coin's surface, though mainly in protected areas.

There is light wear on the high points of the designs, but there is still an excellent overall sharpness. Considerable mint lustre will still show in the protected areas. In general, a coin in "Extremely Fine" condition includes a wide range of quality. This ranges from coins with some lustre to those with no lustre, and some wear on the fine details. In general, an XF coin has a full and complete design which on close examination exhibits minimal wear on the detail and can be completely devoid of lustre.

Almost Extra Fine (aEF, About EF, aXF)

There is a light even wear on all but the most protected surfaces, and the details on the high points are worn, though there is still some sharpness to the major design features and lettering. Traces of original mint lustre remain in the most protected areas.

There is moderate wear on all of the high parts of the coin and the designs and lettering have lost much of their sharpness. The original mint lustre is virtually gone. A coin in "Very Fine" condition should have a full inscription, and all devices will be only moderately worn. It will usually have the most wear on the high points - hairlines, cheekbones, dress folds, and headgear (if present). Major parts of the design are clear, but minor details are weak. These coins are well circulated, with many coins fitting into this grade.

Almost Very Fine (aVF, About VF)

Good Fine (gF)

There is moderate to considerable even wear and although the original designs are recognisable and all lettering visible, they have some weaknesses and lack details. A coin in "Fine" condition has seen a great deal of circulation. The coin should have a full or almost full inscription, while some letters may be weak. Hairlines and other smaller details such as headgear, dress folds and facial features will show significant flatness, although the major devices on the coin will be fully outlined.

Almost Fine (aF, About F)

This is a well worn coin with most of the larger details of the designs being worn nearly smooth. A coin in "Very Good" condition is not very good at all. The small details are all gone, as well as most of the large details. The portrait is outlined, and has some relief, but often a good deal of the legend is worn away. Coins of this grade quite often have scratches, bumps, and other disfigurements.

Almost Very Good (aVG, About VG)

A heavily worn coin with all major designs still visible, though in little more than outline shapes with very little detail. There may be faintness in some areas, but most lettering should still be readable.

A coin in "Poor", "Fair" or "Worn" condition is basically just a piece of metal with a faint outline of the initial coin design. Recognisable as a coin, you might even recognise which coin exactly, but that's about it.

Damaged

The grade of a coin is an indication of how well preserved it is; it is arrived at by a carefully constructed series of guidelines to determine the condition and therefore the rarity and value of a coin.

Unknown