What Is Coin Grading and How Does the PCGS Grading Process Work?

Coin grading is the process of assessing a coin's condition and authenticity and expressing that assessment on a standardized scale, most commonly the 70-point Sheldon scale. PCGS (Professional Coin Grading Service) is a third-party grading service that authenticates, grades, and encapsulates coins; its site states that its numismatic experts have certified over 40 million modern and rare coins. Grading matters because a certified grade and label give buyers and sellers a shared, verifiable description of a coin's condition, which supports pricing and collecting decisions. The explanation below covers the scale, the submission-to-encapsulation flow, how to read a PCGS holder, and where grading ends and related services begin.

What coin grading is — and what it is not

Grading answers one question: in what condition is this coin? A grade is a judgment about wear, surface quality, strike, and eye appeal, expressed as a number and sometimes an adjective (for example, "MS 65" or "AU 58").

Three related services are often confused with grading:

A coin can be genuine but low-grade, or high-grade but of a common variety. The label captures all three dimensions separately, which is why reading it carefully matters as much as reading the number.

The 70-point Sheldon scale and its key ranges

The Sheldon scale runs from 1 (barely identifiable) to 70 (perfect, as struck). Most collector attention falls into three bands:

• Circulated grades (roughly 1–58): Show visible wear. Common descriptors include Good (G), Very Good (VG), Fine (F), Very Fine (VF), and Extremely Fine (EF/XF). Within each, numbers refine the judgment (e.g., F 12 vs. F 15).
• About Uncirculated (AU 50–58): Only a trace of wear on the highest points; otherwise mint-fresh surfaces.
• Mint State (MS 60–70): No wear from circulation. The number then reflects strike, marks, luster, and eye appeal — an MS 60 and an MS 67 are both uncirculated but far apart in quality and, usually, value.

Two practical points follow from the scale:

1. Small numeric differences can mean large value differences at the high end, so the grade alone is not enough — the label's other descriptors matter.
2. The scale is a judgment, not a measurement. Two graders can reasonably differ by a point, which is why third-party certification exists: it fixes one authoritative opinion on the holder.

How the PCGS grading process works, step by step

The general flow for a submission is: prepare and submit → receipt and verification → authentication → grading → encapsulation → return. At each stage, the expected result is a coin that either advances or is set aside with a reason.

1. Prepare the submission. Select the appropriate submission type and complete the accompanying paperwork. Expected result: a package that matches the service level you chose.
2. Receipt and verification. The service logs the coins in and confirms the submission details. Expected result: your coins are tracked against your submission.
3. Authentication. Graders determine whether each coin is genuine. Expected result: genuine coins proceed; questionable coins are held or returned.
4. Grading. The coin is assessed on the Sheldon scale, with variety or special designations attributed where applicable. Expected result: a grade and any attributions are assigned.
5. Encapsulation. The coin is sealed in a tamper-evident holder with a label carrying the grade, certification number, and descriptive details. Expected result: a certified coin you can verify and trade on.
6. Return. The encapsulated coins are shipped back. Expected result: you receive holders whose labels you can check against the certification database.

Common sticking points: mismatched or incomplete paperwork, coins that fail authentication, coins that are genuine but not gradable (for example, certain damage or environmental issues), and submissions that don't match the chosen service tier. Checking your submission against the service's published requirements before shipping avoids most delays.

How to read a PCGS holder label

The holder is the product; the label is the record. When you look at a certified coin, read it in this order:

• Grade and descriptor — the numeric grade plus any adjective (e.g., "MS 65"). This is the condition statement.
• Certification number — a unique identifier for that specific coin in that specific holder. Use it to look up the coin in the certification database and confirm the label matches the record.
• Attribution or variety — any special designation noted for the coin.
• Date, denomination, and mint — the basic identification, which should match the coin in the holder.

A label that is internally consistent and verifiable through the certification number is the practical test of a certified coin. If the number doesn't resolve, or the described coin doesn't match what you see, treat the holder as suspect until resolved.

Where to go next on PCGS.com

The site is organized around the collecting workflow rather than a single product page. Useful entry points include coin grading and authentication information, pricing resources, and coin show listings. If your question is "what can I do on this site," the answer is generally: learn how grading works, look up certified coins, and follow collecting and show information. For the specific mechanics of a submission — service tiers, forms, and shipping instructions — use the site's own submission guidance, since those details change and are not fixed by the general process described above.

The short version: grading standardizes condition, authentication establishes genuineness, and attribution identifies the variety — and a PCGS holder's label plus certification number is how you verify all three at once.