A circulated coin graded AU-50 shows traces of wear on many of the highest parts of the design. On many of these coins, some of the original mint luster is still present. May have a few noticeable contact marks or flaws.
Notes: The exact descriptions of circulated grades vary widely from one coin issue to another, so the preceding commentary is only of a very general nature. It is essential to refer to the specific descriptions for a particular coin type when grading coins. The correct adjectival term for the "A" in AU is About, not Almost.
While numbers from 1 through 59 are continuous, it has been found practical to designate specific intermediate numbers to define grades, resulting in steps. Hence, this text uses the following descriptions and their numerical equivalents, as approved by the ANA Board of Governors.
While the preceding guidelines will undoubtedly prove useful to the reader, it is strongly advised that viewing actual coins in the marketplace will enable you to better determine grading practices affecting the series which interest you most. For example, the collector of Morgan silver dollars would do well to examine Morgans graded by a variety of services and sellers in order to determine in general what is considered to be MS-63, MS-64, MS-65, and higher grades.
Reproduced with permission from The Official American Numismatic Association Grading Standards for United States Coins, 6th edition, © 2005 Whitman Publishing, LLC. All Rights Reserved.