- 1). Check the luster of the coin. If it looks as if it just came from the U.S. Mint and retains a deep red color, the coin can grade as choice uncirculated (MS-63) or higher, to a maximum grade of MS-70.
- 2). Examine the coin for blemishes such as marks from coming into contact with other objects. An Indian Head penny with little wear and light blemishes can grade as uncirculated (MS-60) or choice uncirculated (MS-63).
- 3). Look at the ear of Liberty and the curls of the hair above it. If the coin has only slight wear in these areas, it can grade as about uncirculated (AU-50).
- 4). Check for wear on the ribbon of the headdress. Wear here will knock the coin down to a grade of extremely fine (EF-40).
- 5). Grade the coin as very fine (VF-20) if it has some wear on the word "LIBERTY" on the headdress. If the coin has quite a bit of wear on the word it will grade as fine (F-12). If only some of the letters in the word can be seen, the coin should grade no higher than very good (VG-8). If "LIBERTY" cannot be seen at all the Indian Head penny should be graded as good (G-4).
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