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<p>[QUOTE=&quot;cpm9ball, post: 1260894, member: 24633&quot;]I believe the lowest grade is PO1 - Poor.</p><p><br /></p><p>There is no mathematical formula or ratio that can be applied to the difference between each grade. In Mint State (MS) grades, it is based on luster and the number of detracting marks and whether or not those marks are in the prime focal areas. </p><p><br /></p><p>A circulated coin can fall in any of the lower grades from PO1 to AU58.</p><p><br /></p><p>It might be a good idea if you obtain one of the books on grading such as the <b><i>ANA Grading Standards for United States Coins.</i></b></p><p><br /></p><p>The only other categories which might be used are for problem coins which cannot be labeled with a standard alphanumeric grade such as &quot;MS Details&quot; (used by NGC) or &quot;Genuine&quot; (used by PCGS). NGC will identify the reason for the &quot;no grade&quot; with such descriptors as &quot;Improperly Cleaned&quot;, &quot;Altered Surfaces&quot;, &quot;Artificial Toning&quot;, etc. PCGS encodes the reason for their &quot;no grade&quot; in their certification number.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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