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<p>[QUOTE=&quot;Jaelus, post: 3508068, member: 46237&quot;]Well it&#039;s plain to see, &quot;having never been in circulation&quot; is obviously nonsense by itself, since plenty of circulated coins are graded MS. The &quot;having no wear&quot; is also obviously nonsense by itself, since plenty of coins with wear are graded MS. <b>But you&#039;ll notice that the clever use of AND/OR really switches it up.</b></p><p><br /></p><p>AND/OR means mint state can include:</p><ol> <li>Coins <b>with wear</b> that have not circulated</li> <li>Coins <b>that have circulated</b> that do not have wear</li> <li>Coins that have not circulated and do not have wear</li> </ol><p>Coins that fall into category 2 are impossible to conclusively tell from coins in category 3 (some exceptions of course). So we can condense those two into simply: Coins that do not have wear, and it is functionally equivalent. Coins that fall into category 1 are the tough ones, as it is highly subjective and of course we haven&#039;t been able to reach a consensus on this issue.</p><p><br /></p><p>To me it doesn&#039;t really matter. For the most part I am comfortable calling all technical AU58 coins uncirculated at whatever MS grade is commensurate with their general appearance. After all, AU55 is for coins that have visible wear to the naked eye. If the wear is there but not visible to the naked eye, I&#039;m comfortable with a minor deduction.[/QUOTE]</p><p><br /></p>

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