What is the difference between circulated and uncirculated coins?
Circulated Coins
A circulated coin is one that has been used in everyday transactions. It will show signs of wear, such as flattened details, scratches, and changes in color. The amount of wear determines its grade, which ranges from About Good (AG3) to About Uncirculated (AU58). Even a coin that looks nice but has slight wear on the highest points is considered circulated.
Circulated coins are common and usually worth close to their face value or metal content, unless they are rare dates or key dates. For example, a 1909-S VDB Lincoln cent in circulated condition might still be worth hundreds of dollars, but most circulated coins are inexpensive.
- Show wear on high points
- Grades from AG3 to AU58
- Often valued for metal content or rarity
- May have scratches, dents, or cleaned surfaces
Uncirculated Coins
An uncirculated coin has never been used in commerce. It still has its original mint luster and no wear from circulation. Uncirculated grades run from MS60 to MS70, with MS70 being perfect. Even an MS60 coin may have bag marks or contact marks from storage, but no actual wear.
Uncirculated coins are often more valuable because they are in pristine condition. However, not all uncirculated coins are rare; many modern uncirculated coins are common and worth only a small premium over face value. The key is the combination of grade and rarity.
- No wear from circulation
- Grades MS60 to MS70
- Retain original mint luster
- Can still have bag marks or contact marks
Common mistakes
- Thinking any shiny coin is uncirculated: a cleaned or polished circulated coin can look bright but is still circulated.
- Confusing uncirculated with proof: proofs are specially made for collectors, not just uncirculated.
- Assuming all uncirculated coins are valuable: many modern uncirculated coins are common and low value.
