There are three coin types: Uncirculated (Circulation Strike), Proof, and Specimen (Satin-Finish).

Uncirculated (Circulation Strike)
The original coin type; a single-strike, normal-finish coin made primarily for circulation. Since 1968, these coins have been made at the Philadelphia (P) and Denver (D) Mints. A small percentage of these coins made for circulation are set aside for collectors. This is the source of the Brilliant Uncirculated (BU) coins we have at HSN.

Proof
Made solely for collectors since 1838, proof coins are double-strike coins with a mirror finish. Since 1968, proof coins have been produced at the San Francisco (S) Mint.

Specimen (Satin-Finish)
Made solely for collectors from 2005 to 2009, satin-finish or specimen coins are produced by both the Philadelphia (P) and Denver (D) Mints. (Also known as Special Premium Strike or Special Strike).



There is no regulation in coin grading; however, there are 4 major coin grading/certification services that are highly respected. These companies have industry experts who grade a coin (go over it with a 10x microscope for flaws and imperfections) and slab (or encapsulate) the coin to preserve the grading. In general, these companies consistently grade coins within a percentage point of each other. The 4 companies are ANACS, ICG, NGC, and PCGS. For the majority of coins it sells, HSN uses ANACS (the #1 volume grader (grades the most coins) each year) and ICG.

All coins are graded using the 70-point Sheldon Coin Grading Scale with 70 being perfect and 1 being the worst possible. Only approximately 1/2 of 1 percent (0.5%) of all coins are graded as a perfect 70.



A mint mark indicates where the coin was produced. The position of the mint mark on the coin can vary; generally, it's on the front. United States Mint marks include the following:
· Philadelphia Mint (P)
· Denver Mint (D)
· San Francisco Mint (S)
· West Point Mint (W)
· New Orleans Mint (obsolete; O)
· Carson City Mint (obsolete; CC)



One of the single most important factors in the desirability and value of a coin is condition.

Proof
Struck at least twice on highly polished coin blanks to bring out the mirrored background and high-relief images

Reverse Proof Coins
The same as proof, only the coin has a mirrored images and high-relief background

Graded PR70 (Proof)
Proof coin with the highest possible grading of 70 Struck at least twice on highly polished coin blanks to bring out the mirrored background and high-relief images

SP70 Condition (Specimen)
A Specimen coin with the highest possible grading of 70 Distinctive from regular coins because the dies are sandblasted with a fine mixture of sand and glass beads

Brilliant Uncirculated (BU)
This coin has not been released to the public for general circulation.

PR69 Condition
Proof coins of this quality have absolutely no visible flaws, so they look perfect to the naked eye Struck at least twice on highly polished coin blanks to bring out the mirrored background and high-relief images

Graded MS70
In Mint State condition with the highest possible grading of 70 Outstanding eye appeal with its full, original luster

MS69 Condition
Mint State coins in this condition have absolutely no visible flaws, so they look perfect to the naked eye

Graded MS67
Mint State coins with no visible hairlines without magnification Above average in luster and eye appeal

Graded MS66
Mint State coin with Blazing original luster, virtually no surface flaws and good strike Above average in luster and eye appeal If marks or hairlines are in an important focal area, then they must be minimal and compensated for by the rest of the coin's being superb

Graded MS65
Mint State coin with a few, scattered hairlines Fully-original luster Very-pleasing eye appeal

Graded MS63
At least 3 full grades better than a standard brilliant uncirculated coin

Grading Scale
All coins are graded on a 70-point scale, with 70 being absolute perfection

Clad
Core and outer layer made of different metals Since 1965, all United States dimes, quarters, half dollars, and dollars have been clad

(source: United States Mint Glossary)



Deep Cameo (DCAM)
Deeply frosted images and lettering that contrast with the mirrored background to produce extra sharp details

Satin Finish
Distinctive from regular coins because the dies are sandblasted with a fine mixture of sand and glass beads Called a “burnished finish” by the United States Mint Also known as Specimen State (SP)

Incuse (in-CUE-z) design
Design and all the lettering are sunk into the coin Creates a spectacular image

24K Gold-Plated and Colorized
Unique way to collect quarters Adds color and beauty

Hologrammed
Reflects light in every direction and highlights details in every way

Reeded Edge
Edge of a coin on which raised lines appear; designed to make it obvious if anyone has removed metal from the edges