AU vs MS Coin Grades
The difference between AU-58 and MS-60 can mean hundreds or thousands of dollars for a rare Canadian coin. Yet to the untrained eye, these two grades can look nearly identical. Here is how to tell them apart.
The Key Difference: Wear vs. No Wear
AU (About Uncirculated)
An AU coin has been in circulation but only very briefly. It shows traces of wear on the very highest points of the design — the cheekbone on a portrait, the highest hair strands, the tops of lettering. Luster is still present in the fields but may be slightly disturbed.
MS (Mint State)
An MS coin has never been in circulation. There is absolutely no wear anywhere on the coin. The distinction between MS grades (60–70) is based on the quality of the luster, the number and severity of contact marks (bag marks), and the overall eye appeal.
Why the AU/MS Distinction Matters for Canadian Coins
For common-date Canadian coins, the difference between AU-58 and MS-60 might be $20–$50. For key dates, the same distinction can be worth thousands of dollars. Consider the 1948 Canadian silver dollar: an AU-58 example might sell for $1,500, while an MS-63 example could bring $8,000 or more.
This is why the AU/MS boundary is one of the most contested areas in coin grading. An AU-58 coin can look virtually identical to an MS-60 under casual inspection. Professional graders use strong magnification and raking light to detect the faintest traces of wear on the highest points.
The term "slider" is used in the trade for AU-58 coins that are sometimes misrepresented as MS. A slider has been lightly circulated — perhaps just passed from hand to hand a few times — and retains most of its original luster. It can fool inexperienced buyers into thinking they are getting an uncirculated coin.
Buyer beware: If someone is selling a coin as MS that looks too good to be true for the price, examine it carefully under magnification for traces of wear on the highest points. When in doubt, buy certified.
How to Identify AU vs MS at Home
A 10x loupe is the standard tool. Examine the highest points of the design — the cheekbone, hair strands, and lettering tops — for any flattening or dulling of the metal.
Hold the coin at a low angle to a single light source and rotate it slowly. Wear appears as flat, dull areas that do not reflect light the same way as the surrounding luster.
Original mint luster has a cartwheel effect — it flows across the coin as you rotate it. Wear disrupts this flow. An MS coin shows uninterrupted cartwheel luster; an AU coin shows slight interruption on the high points.
The PCGS and ICCS population reports include images of certified coins. Comparing your coin to certified AU-58 and MS-60 examples of the same type is the best way to calibrate your eye.
Frequently Asked Questions
Is an AU-58 coin worth significantly less than MS-60?
For common coins, the difference is modest. For key dates, the difference can be substantial — sometimes 2–5x the value. The AU/MS boundary is one of the most value-significant grade boundaries in numismatics.
Can a coin be AU if it was never circulated?
Yes. A coin can show AU characteristics from mishandling at the mint, during storage, or from being dropped or rubbed against other coins in a bag. These are called "bag marks" or "contact marks" and are different from circulation wear.
How do professional graders determine AU vs MS?
Professional graders use strong magnification, raking light, and years of experience with specific coin series. They look for the faintest traces of wear on the very highest design points. For borderline coins, multiple graders may examine the same coin.
Should I get my AU or MS coins professionally graded?
For coins worth $200 or more, professional grading by ICCS or PCGS is worth considering. The certified grade provides buyer confidence and can significantly increase the sale price.
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This guide explains the value of Canadian coins, including key dates, silver content, and factors that affect collector value. If you believe you may have a valuable coin, you can upload photos for a free estimate.
How Coin Values Are Determined
Four key factors influence what a coin is worth. Understanding these helps you know what to look for.
Rarity
Coins with low mintage numbers or surviving in small quantities are worth more. A coin minted in the millions is common; one minted in the thousands can be scarce.
Condition
Collectors grade coins from Poor (heavily worn) to Mint State (uncirculated). A coin in excellent condition can be worth many times more than the same coin in worn condition.
Silver or Gold Content
Many older Canadian coins contain 80% silver. Even a common silver coin has a base value tied to the current silver price, regardless of collector demand.
Collector Demand
Some coins are actively sought by collectors, which drives prices higher. Key dates, varieties, and coins from popular series attract more buyers.