A Mint State coin is uncirculated and resembles its original state. The Mint State is a condition given to coins, usually graded between 60 and 70 on the Sheldon Grading Scale. Mint state coins have never been in circulation, so when buyers get them, they buy a coin in the same condition as originally minted or close to it.
The Sheldon scale ranges from 1 to 70, with 1 being the lowest grade indicating poor condition while 70 indicates perfection. Mint state-graded coins are noted with “MS” preceding the number. For example, a coin could be certified as MS-68.
A certified Mint State coin is one that has been independently assessed and authenticated by a reputable grading service, such as the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC). The certification process confirms the coin’s grade and authenticity and places it in a secure, tamper-evident holder to protect it from damage. Certified coins often include information such as the year, grade, finish, serial number, and grading company on the protective holder, giving collectors and investors assurance of the coin’s condition and quality.
Most often, coins will be graded before you purchase them. You can send ungraded coins to PCGS or NGC after purchasing, but professional grading services charge a fee to certify coins. Having a low-value coin certified may not be worth the cost. You can easily buy certified coins. To buy a Mint State coin, look for the “MS” before the grade.
The Sheldon Grading System
The Sheldon grading scale, ranging from 1 to 70, is widely used for grading coins. The most well-known grading services use this scale to grade coins. Certified coins are packaged in specialized protective packaging and includes the coin’s year, serial number, finish, grade, designation, and grading service. Higher numeric grades indicate better condition.
For example:
- MS/PF 70: Mint State Proof. Perfect coin with no imperfections.
- MS/PF 69: Mint State Proof. Fully struck with minor imperfections.
- MS/PF 68: Mint State Proof. Very well-struck with tiny flaws.
- AU 58: About Uncirculated. Slight wear on high points.
- XF 45: Extremely Fine. Complete details with minor wear.
Remember, grading can vary slightly among different grading services.
How Can an Uncirculated Coin be Damaged?
Mint-made damage is inevitable. Some are minor damages, while others are drastic. Even though a coin is uncirculated, it does not mean the condition is perfect. The U.S. Mint produces some coins that are of lower quality. As the number of coins and bullion produced each year increases, the chances of error increase.
Some examples of damage that can call for a lower grade include:
Bag Damage
- Bag damage are marks and nicks caused by other coins in a bag. Some instances of damage are more severe than others.
Weak Striking
- Weak strikes can cause a distortion of the coin design.
Metal Quality
- With metal quality problems, the buyer can see the brittleness of the coin, making it more susceptible to scratches and scrapes.
Why do Mint State Coins Cost More?
Certified Mint State are professionally graded to ensure quality. When sold, they may command a higher price and are also in more demand than circulated coins. Coins with historic demand may also be valuable compared to lesser-quality coins. While extremely rare, an uncirculated 1933 Double Eagle sold for nearly 19 million in 2021.
Is Buying a Mint State Coin Worth the Higher Price
If you are investing in coins for more than simply their bullion value, they may be worth the extra cost due to their rarity, demand, and potential historical value. Many investors find good resale values with specific year errors or numismatic coins in Mint State. Buying certified Mint State coins is a personal decision, and deciding whether they are worth the higher price is dependent on your investment goals and preferences.
