Not All Mint State Coins Are Equal: The Difference Between Mint State Grades

The nuances of coin grading are extremely intricate, where even a single point can make a significant difference, particularly at the pinnacle of the Sheldon Scale used by third-party grading companies. For proof coins, these distinctions are about the perfection of the coin's surface and strike. Let's break down the differences between PF 67, 68, 69, and 70, the upper echelons of proof coin grading.

The grades PF (NGC) or  PR (PCGS) 67, 68, 69, and 70 represent varying degrees of perfection for proof coins, which are specially minted with a high level of craftsmanship and finish. The higher the number, the closer the coin is to absolute flawlessness when it left the mint.

Here's a detailed look:

PF/PR 67 (Superb Proof):

A PF67 coin is an exceptionally attractive proof with a strong strike and excellent eye appeal.

It may exhibit minor, distracting flaws that are noticeable upon close inspection. These could include a few scattered and noticeable hairlines, light contact marks, or slight imperfections in the mirrored fields or frosted devices.

While still a high-quality coin, these minor issues prevent it from reaching the "near-perfect" category.

PF/PR 68 (Exceptional Proof):

A PF68 coin is a truly outstanding proof, showcasing a full, sharp strike and superb luster.

Any flaws present are extremely minor and very difficult to detect without magnification. These might be a single tiny hairline or a minuscule contact mark that is barely visible and does not detract from the coin's overall superb appearance.

The eye appeal is virtually pristine, reflecting a coin that has been handled with extreme care.

PF/PR 69 (Near-Perfect Proof):

A PF69 coin stands as an absolutely superb example of a proof coin, exhibiting a full and sharp strike, along with dazzling, original luster. Its eye appeal is truly magnificent, drawing the viewer in with its pristine appearance.

Any imperfections on a PF69 coin are so minuscule as to be virtually imperceptible to the naked eye, and only visible upon very close scrutiny, often under magnification. These might include a solitary, minute hairline or an isolated, microscopic contact mark. These tiny nuances are so subtle that they do not detract from the coin's overall stunning presentation, making it an outstanding specimen in every practical sense.

PF/PR 70 (Perfect Proof):

A PF70 coin is the absolute pinnacle of perfection in coin grading. This coin is flawless, even when viewed under 5x magnification.

It presents with a complete and sharp strike, magnificent luster, and absolutely no post-production imperfections of any kind – no hairlines, no contact marks, no flaws on the fields or devices, regardless of how minute.

Achieving a 70 grade signifies a coin that is truly perfect, a specimen that has been minted and preserved without acquiring even the slightest blemish. As a result, this ultimate grade carries a significant premium in the market due to its extreme rarity and the universal desire for absolute perfection.

The Key Distinction at the Top:

The jump from PF69 to PF70 is where the grading becomes exceptionally stringent. While a PF69 coin is virtually perfect in terms of its visual impact and overall quality, a PF70 is truly without fault. That almost imperceptible (under 5x magnification) blemish that might be on a 69 is simply not there on a 70. This tiny, often invisible difference is what commands the substantial premium for a 70, reflecting the extreme difficulty of producing and maintaining a coin in such unblemished condition.