Toronto Metal Exchange uses the Sheldon Scale coin grading system to a assess the overall appearance and condition of a coin, enabling a more precise estimate of its value. The internationally recognized system, developed by the American numismatist Dr. William Sheldon during the early 1940’s, assigns numerical grades 1 to 70. As the number increases, the coins condition is considered to be superior. A grade below 60 indicated that the coin has been in circulation. Every grade in itself has a upper and lower band or range within each tier, such as a high-end MS or a low-end VF.  Each submission is based on an individual basis. Toronto Metal Exchange consistently relies on this grading system as a fundamental basis for order submissions. It is important to note that our grade encompass the coin’s entirety, so results will vary.

Strike Typology

 MS:  Mint State coins.

 PF: Proof coins (first issue strikes that are specially selected and marketed towards collectors).  

SP: Specimen describes a coin that falls just short of the definition for actual proofs.

Numerical Grading

MS/PF70: A specimen-like coin with no visible post-production imperfections at 10x magnification.

MS/PF69: A fully struck coin with adequately imperceptible imperfections.

MS/PF68: A Very sharply struck coin with only miniscule visible imperfections.

MS/PF67: A sharply struck coin with few imperfections visible to the naked eye.

MS/PF66: A sufficiently well struck coin with minimal markings and/or hairlines.

MS/PF65: A well struck coin with moderate markings and/or hairlines.

MS/PF64: An average or better struck coin with many obviously visible markings and/or hairlines in addition to other miniscule imperfections.

MS/PF63: A coin with below average strike with moderate abrasion and many hairlines of varying degrees.

MS/PF62: A Slightly weaker or below average struck coin with no trace of wear. More significant abrasions than an MS/PF 63.

MS/PF61: An average to weak struck coin with no visible trace of wear. More markings and/or multiple large abrasions.

MS/PF60: Weak strike with no trace of wear. Numerous abrasions, hairlines and/or large marks.

AU58: Slightly worn out on the highest points of the design. All details remain easily visible.

AU55: Slight wear on less than 50% of the design. All details remain easily visible.

AU53: Slight wear on more than 50% of the design. All details are visible except for very minor softness on the high points.

AU50: More than slight wear on more than 50% of the design. Most details remain visible except for minor softness on the high points.

XF45: Complete details with very minor wear on many of the high points.

XF40: Complete details with minor wear on most of the high points.

VF35: Complete details with wear on all of the high points.

VF30: Nearly complete details with moderate softness on the design areas.

VF25: Nearly complete details with considerable softness on the design areas.

VF20: Basic design details with sharp letters and digits.

F15: Recessed areas show softness. Letters and digits are soft.

VG10: Wear throughout the design. Letters and digits show softness.

VG8: Wear throughout the design. Letters and digits show more softness.

G6: Peripheral letters and digits are full. Rims are sharp.

G4: Peripheral letters and digits are nearly full. Rims exhibit wear.

AG3: Most letters and digits are readable. Rims are worn into the fields.

FR2: Some details are visible. Rims are barely visible.