Expert: PAPAJACK - 9/12/2008

Question
I recently found a 1971 Eisenhower silver dollar, and when I went to find a value for it I saw lot of MS-60, MS-67.  What do these mean and how do I find which one my coin falls under?

Answer
Hello Stephen,                    

Thank you for selecting me for this question. This is a common coin but let me give you all the information you may need.

Coins are valued on a set scale. Collectors and dealers have devised a numerical grading system for coins.
It goes from 1 to 70. Coins that have grade of 1means they are barely identifiable as a coin and a grade of 70 being a perfect specimen.

Coins taken from circulation usually fall between grade 8-VG (very Good) and grade 50 (AU Almost Uncirculated).  Only a strictly uncalculated coin can grade Mint State between 60 and 70. So a grade of MS67 is shorthand for a Mint State coin in grade 67 out of a possible 70 points.

So for coins the term "Good" is only a grade of 4 to 7 on the coin grading scale that runs from 1 to 70. This would be a heavily circulated coin with worn details and the high points would all be worn smooth.

Other Grades -
Very Fine Grade 20;
These coins will have wear spots on the hair below the part. The hairlines are weak but have nearly full details. Wear spots will also show on the cheek, jaw, center of neck and along the edge of the bust. The reverse shows wear on the head, wings and legs.

Extremely Fine grade 40;
This coin shows slight wear on the cheek, along the jawbone and on the high points at the edge of the bust. The hairlines are sharp and detailed. The reverse has wear on the high points of the head, legs and wing ridges.

Almost Uncirculated grade 50;
This will show a trace of wear on the highest points of the jawbone and at the center of the neck on the base of the bust. The reverse shows a trace of wear on the high points of feathers in the wings and legs.

Uncirculated Grade 60 or higher;
This coin has no trace of wear and has full mint luster. The surfaces may be dull, spotted or heavily toned and still hold this grade.

These coins are plentiful in all grades and therefore collectors only pay premium prices for the best specimens. Most coins that have been Cleaned, dented, scratched or have any problems are traded at face value.

Also the Eisenhower dollars were made at 3 mints this can affect the value. Look for a Mint Mark (P, D or S) above the date.

Eisenhower Dollars have a Copper core and clad with a Copper and Nickel alloy. They usually sell for less than $2.00 in circulated grades.
If worn, scratched or marred in any way  they sell at face value to about $1.15  There is a higher value for the S (San Francisco mint) if proof and or silver  issue. These silver issues came in blue or brown packages.

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Thank You and Good Luck

PapaJack