Reference — published standards
The grading scale, category by category.
Each category is graded on the scale its own trade uses — Sheldon 1–70 for coins, 1–70 with paper quality for currency, 1–10 in half points for cards, authenticity and originality class for everything else. Below is every band we assign, what separates it from the one above, and the notations that qualify it on a certificate.
Revision 2026.2 · effective 1 November 2026
Reading a numeric grade
Higher numbers describe survival, not beauty.
A grade records how much of an object's original state remains. Two coins at the same number can look very different — toning, colour and eye appeal change what a collector pays, but they never move the number on their own, and they never excuse a defect.
70–60
Uncirculated
No trace of circulation wear. On cards, the equivalent band is 10 through 8.
58–50
About uncirculated
A trace to light wear on the highest points. On cards, 7.5 through 6.5.
45–30
Extremely fine to very fine
Light to moderate wear with the full design still legible. On cards, 6 through 4.
25–12
Very fine to fine
Heavy even wear, outlines distinct. On cards, 3.5 through 2.
10–1
Very good to poor
Heavy to severe wear; identification may rely on a single element. On cards, 1.5 and 1.
01 — Coins
Sheldon 1–70
P-1 through MS-70
Coins are graded on the Sheldon 1–70 scale, the century-old numeric standard used across the numismatic trade. Grades from 1 to 58 describe circulated wear; 60 through 70 denote uncirculated coins, where the distinguishing factors become strike, luster, surface preservation and eye appeal rather than wear.
What the grade weighs
Surface preservation
30%
Contact marks, hairlines, rim nicks and abrasions under 5× magnification.
Strike
25%
Crispness of design elements, lettering and denticles at the central high points.
Luster
20%
Cartwheel brilliance and flow lines; whether original or impaired by handling.
Eye appeal
15%
Toning, contrast and overall presentation — never used to excuse technical defects.
Rims and edges
10%
Reeding integrity, rim dings and any evidence of mounting or jewellery use.
Perfect uncirculated
MS-70
Near perfect
MS-69
Superb gem
MS-68
Superb gem
MS-67
Premium gem
MS-66
Gem uncirculated
MS-65
Very choice
MS-64
Choice uncirculated
MS-63
Uncirculated
MS-62
Uncirculated
MS-61
Uncirculated
MS-60
About uncirculated
AU-58
About uncirculated
AU-55
About uncirculated
AU-50
Extremely fine
XF-45
Extremely fine
XF-40
Very fine
VF-35
Very fine
VF-30
Very fine
VF-25
Very fine
VF-20
Fine
F-15
Fine
F-12
Very good
VG-8
Good
G-6
Good
G-4
About good
AG-3
Fair
FR-2
Poor
P-1
Notations and qualifiers
- RD
- Red — at least 95% of original copper colour remains.
- RB
- Red and brown — a mix of original red and light brown.
- BN
- Brown — copper has toned to brown throughout.
- FB
- Full bands — the central bands of a Mercury dime are fully split.
- FS
- Full steps — the steps of a Jefferson nickel are complete.
- CAM
- Cameo — frosted devices against reflective fields.
- DCAM
- Deep cameo — heavy device frost and deeply mirrored fields.
- Details
- Genuine but impaired — cleaned, tooled or repaired, graded for detail only.
02 — Paper currency
1–70 with EPQ
1 through 70 EPQ
Notes use the same 1–70 numeric scale as coins, with one decisive addition: Exceptional Paper Quality. EPQ is awarded only where the paper is original — never pressed, washed, trimmed or chemically brightened — and it materially changes what a note is worth. Notes that have been conserved are graded numerically but carry an apparent or net designation.
What the grade weighs
Paper quality
30%
Original sizing, crispness, body and absence of pressing, washing or bleaching.
Margins and centering
25%
Border symmetry on all four sides; trimming or narrow margins cap the grade.
Embossing and inks
25%
Intaglio print quality, seal and overprint sharpness, ink colour and depth.
Handling and folds
20%
Counting creases, corner folds, staple holes, pinholes, stains and circulation soiling.
Superb gem uncirculated
70 EPQ
Superb gem uncirculated
67 EPQ
Gem uncirculated
65 EPQ
Very choice uncirculated
64 EPQ
Choice uncirculated
63 EPQ
Uncirculated
62 EPQ
Uncirculated
60 EPQ
About uncirculated
58
About uncirculated
55
About uncirculated
50
Extremely fine
45
Extremely fine
40
Very fine
35
Very fine
30
Very fine
25
Very fine
20
Fine
15
Fine
12
Very good
10
Very good
8
Good
6
Good
4
Fair to poor
1–3
Notations and qualifiers
- EPQ
- Exceptional Paper Quality — wholly original, untouched paper.
- PPQ
- Premium Paper Quality — the equivalent designation used by some services.
- Apparent
- The note presents better than its technical grade due to conservation.
- Net graded
- The grade accounts for a specific defect, stated on the certificate.
- Small size
- A note issued at the modern, reduced dimensions.
- Star note
- A replacement note, denoted by the star in the serial prefix.
03 — Trading cards
1–10, half points
1 through 10 with 0.5 increments
Cards are graded on a 1–10 scale in half-point increments across four technical categories. Nothing about a card's market value, population or player influences the number: only physical condition under 10× magnification, with centering measured against the card's own print borders.
What the grade weighs
Centering
30%
Symmetry of the printed borders on the front and back, measured as a ratio.
Corners
30%
Sharpness, layering and any whitening, rounding or softness at all four corners.
Edges
20%
Chipping, nicks and roughness along the cut, including factory-cut irregularities.
Surface
20%
Scratches, print lines, indentations, gloss loss, staining and surface wear.
Gem Mint
10
Gem Mint
9.5
Mint
9
Near mint-mint plus
8.5
Near mint-mint
8
Near mint plus
7.5
Near mint
7
Excellent-mint plus
6.5
Excellent-mint
6
Excellent plus
5.5
Excellent
5
Very good-excellent plus
4.5
Very good-excellent
4
Very good plus
3.5
Very good
3
Good plus
2.5
Good
2
Fair
1.5
Poor
1
Notations and qualifiers
- Gem Mint
- The highest descriptor, reserved for grades 9.5 and 10.
- Mint
- Grade 9 — a virtually flawless card with one minor flaw permitted.
- RC
- Rookie card — a factual designation; it does not affect the grade.
- MC
- Miscut — the card's image or border is shifted beyond tolerance.
- OC
- Off centre — centering falls outside the tolerance for the assigned grade.
- PD
- Print defect — a production flaw such as a print line or roller mark.
- Qualified
- A defect is noted and excluded from the numeric grade, at the owner's request.
04 — Collectibles
Authenticity + class
Class I through Class IV
Autographs, documents, photographs and ephemera cannot be ranked on a single numeric scale, so we grade two things separately: authenticity, and then originality. The originality class records how much of the object is as it left its maker — this is the distinction that matters when one signature or document is compared with another.
What the grade weighs
Originality
40%
Proportion of original material, ink and mounting that survives unaltered.
Completeness
25%
Whether pages, signatures, borders and components are all present.
Condition
20%
Tears, foxing, fading, folds and handling relative to the object's age.
Surface and patina
15%
Consistent ageing, ink tone and finish; absence of chemical brightening.
Original
Class I
Restored
Class II
Reconstructed
Class III
Assembled
Class IV
Unclassified
Authentic only
Declined
Not authentic
Notations and qualifiers
- Authentic
- Every component is consistent with the period and maker.
- Altered
- Original material present but modified — erasure, trimming or inpainting.
- Not authentic
- Inconsistent with the claimed maker or period.
- Assembled
- Authentic components combined from more than one object.
- Restored
- Reversible conservation to stabilise or reinstate losses.
- Facsimile
- A reproduction, clearly and permanently marked as such.
A grade is an opinion
Every certificate states the scale, the defects and the notations behind the number.
If a grade on one of our certificates is unclear, quote the certificate number to the intake desk and an examiner will walk you through the decision, criterion by criterion.