FYI; ANACS uses EF, but Heritage, NGC, and PCGS use XF. Although the experts disagree, I think XF has the edge.
This is JMHO, and I am sure it doesn't matter to anyone but... EF sounds like VF and in conversation might be confusing, so I personally prefer XF.
The official ANA Grading Standards for US Coins uses EF for both 40 and 45 grades and makes a special note about the correct abbreviation being EF instead of XF. It's kind of funny how the market has adopted XF.
I think Mike hit the nail on the head. VF and EF sound too much alike. XF is not the least confusing.
In Brit-land we use EF and even have a strange system at auctions and such likes where we use "good ef" instead of ef/xf+
I typically use XF, and XF seems to be used much more commonly than EF in exonumia circles. But then we are kind of in our own little world.
EF means extremely fine and XF means extra fine: Both are acceptable but I see EF more often on coin price lists and internet websites. Clinker
If my memory serves me right XF was what we used to use a long, long time ago. When the first Red Books came out and dealers couldn't say F or Unc, they would say XF. There were not to many grades back then. Little by little people started to use AG, AF, and a few others. But if you look at the old Red Books there was only G, F, Unc and proof. Lately no one I know uses XF anymore. At coin shows I've never seen XF for anything. Only now with the EF stuff. I would assume if you use the XF notation you are probably close to my age and some older. Young people all use the notations in the Books regardless of anything an old person says.
any world coin dealer worth his salt uses XF. since i work for SGS (steve's good stuff) i call them MS69. hehe -Steve