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Message:: [QUOTE="Ed Zak, post: 29151, member: 824"]I'll take a stab at this.  Us Yanks, for the most part, still use the very same terms.  A little history... From the book, Photograde that I won right here at CoinTalk... In 1934, Wayte Raymond, a New York dealer and numismatic scholar launched the Standard Catalogue of United States Coins which went through 20 editions by the time he died in the 1950's.  Grading was basic with terms as Good, Fine, Very Fine, Uncirculated and Proof employed.  In 1954, the following grades were listed and explained: Proof, Uncirculated, EF, VF, F, VG, G and Fair. Numerical grading has its beginnings in the Sheldon Scale devised by Dr. William H. Sheldon.  His first book, Early American Cents (later retitled to Penny Whimsy) in 1949 as part of a formula for determining the market value of United States Large Cents of the dates 1793-1814.  Basically, Sheldon quantitatively reduced grading to numbers instead of descriptions.  This scale goes from 1 to 70 (absolute perfect coin) where MS (Mint State) addresses those coins that are "free from any trace of wear", hence Uncirculated coins and/or better.  What started out strictly for large cents was adopted by the rest of the numismatic community for ALL coins. For instance, a MS63 coin would be called Choice Uncirculated whereas a Gem Uncirculated would be listed as MS65.  A Gem Uncirculated Plus may be a MS67 grade. All in all, there are a lot of "grades" between your standard VF and EF and quantitatively using numbers instead of terms is more accurate than none at all.  Here is more good reading:  <a href="http://ngccoin.com/about/history.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://ngccoin.com/about/history.asp" rel="nofollow">http://ngccoin.com/about/history.asp</a> Here's a breakdown: MS-70. The perfect coin. Has very attractive sharp strike and original luster of the highest quality for the date and mint. No contact marks are visible under magnification. There are absolutely no hairlines, scuff marks or defects. Attractive and outstanding eye appeal. Copper coins must be bright with full original color and luster. MS-69. Must have very attractive sharp strike and full original luster for the date and mint, with no more than two small non-detracting contact marks or flaws. No hairlines or scuff marks can be seen. Has exceptional eye appeal. Copper coins must be bright with full original color and luster. MS-68. Attractive sharp strike and full original luster for the date and mint, with no more than four light scattered contact marks or flaws. No hairlines or scuff marks show. Exceptional eye appeal. Copper coins must have original color. MS-67. Has full original luster and sharp strike for date and mint. May have three or four very small contact marks and one more noticeable but not detracting mark. On comparable coins, one or two small single hairlines may show under magnification, or one or two partially hidden scuff marks or flaws may be present. Eye appeal is exceptional. Copper coins have lustrous original color. MS-66. Must have above average quality of strike and full original mint luster, with no more than two or three minor but noticeable contact marks. A few very light hairlines may show under magnification, or there may be one or two light scuff marks showing of frosted surfaces or in the field. The eye appeal must be above average and very pleasing for the date and mint. Copper coins display full original or lightly toned color as designated. MS-65. Shows an attractive high quality of luster and strike for the date and mint. A few small scattered contact marks, or two larger marks may be present, and one or two small patches of hairlines may show under magnification. Noticeable light scuff marks may show on the high points of the design. Overall quality is above average and overall eye appeal is very pleasing. Copper coins have full luster with original or darkened color as designated. MS-64. Has at least average luster and strike for the type. Several small contact marks in groups, as well as one or two moderately heavy marks may be present. One or two small patches of hairlines may show under magnification. Noticeable light scuff marks or defects might be seen within the design or in the field. Attractive overall quality with a pleasing eye appeal. Copper coins may be slightly dull. Color should be designated. MS-63. Mint luster may be slightly impaired. Numerous small contact marks, and a few scattered heavy marks may be seen. Small hairlines are visible without magnification. Several detracting scuff marks or defects may be present throughout the design or in the fields. The general quality is about average, but overall the coin is rather attractive. Copper pieces may be darkened or dull. Color should be designated. MS-62. An impaired or dull luster may be evident. Clusters of small marks may be present throughout with a few large marks or nicks in prime focal areas. Hairlines may be very noticeable. Large unattractive scuff marks might be seen on major features. The strike, rim and planchet quality may be noticeably below average. Overall eye appeal is generally acceptable. Copper coins will show a diminished color and tone. MS-61. Mint luster may be diminished or noticeably impaired, and the surface has clusters of large and small contact marks throughout. Hairlines could be very noticeable. Scuff marks may show as unattractive patches on large areas or major features. Small rim nicks, striking or planchet defects may show, and the quality may be noticeably poor. Eye appeal is somewhat unattractive. Copper pieces will be generally dull dark and possibly spotted. MS-60. Unattractive, dull or washed out mint luster may mark this coin. There may be many large detracting contact marks, or damage spots, but absolutely no trace of wear. There could be a heavy concentration of hairlines, or unattractive large areas of scuff marks. Rim nicks may be present, and eye appeal is very poor. Copper coins may be dark, dull and spotted.[/QUOTE]

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