NGC Grading – What Do MS70 and PF70 Mean? Are Slabbed Coins Worth It?

At auctions and in coin shops you will increasingly see coins sealed in plastic holders with an NGC label and a grade such as MS70 or PF70. What do these symbols mean, who assigns them and is it worth paying extra for such a coin? We explain step by step.

What is coin grading?

Grading is a professional, independent assessment of a coin's condition. Specialists verify its authenticity and then evaluate its surface, details, lustre and any flaws. After grading, the coin is sealed in an airtight holder, commonly called a slab.

Who is NGC?

NGC (Numismatic Guaranty Company) is one of the largest and most recognised grading companies in the world. It has operated since 1987 and is headquartered in Sarasota, Florida (USA). Together with PCGS, it is considered the global standard in coin grading.

Every coin graded by NGC receives a unique certification number that can be checked in NGC's online database, together with a photo and description of the coin.

The Sheldon scale: from 1 to 70

NGC uses the 70-point Sheldon scale, where 1 means a barely identifiable coin and 70 a perfect one. Modern collectible and bullion coins are usually graded at the top of the scale, between 60 and 70.

  • 70 – a coin with no post-production imperfections visible at 5x magnification,
  • 69 – a nearly perfect coin with barely noticeable minor imperfections,
  • 68 and below – increasingly visible marks, scratches or flaws.

The difference between 69 and 70 is often invisible to the naked eye, but on the market it can mean a noticeable price difference.

MS or PF – what do the letters mean?

The letters before the number indicate the type of coin:

  • MS (Mint State) – a coin in mint condition, struck in the standard way, e.g. BU or Antique Finish,
  • PF (Proof) – a coin struck with mirror dies in Proof quality.

So MS70 is a perfect mint-state coin and PF70 a perfect Proof coin. Proof coins often also carry the Ultra Cameo designation, indicating a strong contrast between the mirror field and the frosted relief. Read more about finishes in Proof, BU, Antique Finish – How Do Coin Finishes Differ? New to proofs? Start with what is a proof coin.

Early Releases and First Releases

NGC labels may also carry additional designations such as Early Releases or First Releases. According to NGC, they apply to coins received by NGC or an NGC-approved depository within the first 30 days of release. They say nothing about the coin's quality – they are valued by some collectors as a mark of early examples.

Advantages of graded coins

  • independent confirmation of authenticity and condition,
  • protection – the airtight slab shields the coin from touch, moisture and scratches,
  • easier resale – the buyer knows exactly what they are getting, even without seeing the coin in person,
  • prestige – coins graded 70 are sought after by collectors of top-condition coins.

Drawbacks and things to keep in mind

  • higher price – grading costs money, and a 70 grade usually raises the coin's price,
  • the coin cannot be removed from the slab without losing its certification,
  • a slab is larger than a capsule, so the collection takes up more space,
  • counterfeit slabs exist – always buy from a trusted seller and check the certification number in the NGC database.

Is it worth buying NGC graded coins?

Graded coins are a good choice if:

  • you want a confirmed, top-level condition,
  • you are building a collection of coins graded 70,
  • you want certainty of authenticity and an easier sale in the future.

If, on the other hand, you enjoy viewing a coin in its original box with the mint's certificate, ungraded coins will serve you just as well.

Summary

MS70 and PF70 are the highest grades on the Sheldon scale – they confirm that a coin is in perfect condition. NGC grading provides an independent guarantee of authenticity and protection for the coin, although it comes at a higher price.

See the coins in our NGC Grading category and the full range of silver coins at Magikos-Coins.