It is important to grade the coins in your hand. Coin value depends on the grade. Here are the normal denominations of coin grading's.
P1
Barely identifiable; must have date and mintmark, otherwise pretty thrashed.
FR2
Worn almost smooth but lacking the damage Poor coins have.
G-4
Heavily worn such that inscriptions merge into the rims in places; details are mostly gone.
VG-8
Very worn, but all major design elements are clear, if faint. Little if any central detail.
F-12
Very worn, but wear is even and overall design elements stand out boldly. Almost fully-separated rims.
VF-20
Moderately worn, with some finer details remaining. All letters of LIBERTY, (if present,) should be readable. Full, clean rims.
EF-40
Lightly worn; all devices are clear, major devices bold.
AU-50
Slight traces of wear on high points; may have contact marks and little eye appeal.
AU-58
Slightest hints of wear marks, no major contact marks, almost full luster, and positive eye appeal.
MS-60
Strictly uncirculated but that's all; ugly coin with no luster, obvious contact marks, etc.
MS-63
Uncirculated, but with contact marks and nicks, slightly impaired luster, overall basically appealing appearance. Strike is average to weak.
MS-65
Uncirculated with strong luster, very few contact marks, excellent eye appeal. Strike is above average.
MS-68
Uncirculated with perfect luster, no visible contact marks to the naked eye, exceptional eye appeal. Strike is sharp and attractive.
MS-69
Uncirculated with perfect luster, sharp, attractive strike, and very exceptional eye appeal. A perfect coin except for microscopic flaws (under 8x magnification) in planchet, strike, or contact marks.
MS-70
The perfect coin. There are no microscopic flaws visible to 8x, the strike is sharp, perfectly-cantered, and on a flawless planchet. Bright, full, original luster and outstanding eye appeal.
