The terms Mint State (MS) and Uncirculated (UNC) are interchangeable and refer to coins which may be brilliant or toned with contact marks, blemishes or impaired luster. RAW coins are coins that have not been graded and encapsulated by a professional third party grading service. Some coins may have evidence of friction on high points from movement and handling out of bags or tubes and some may grade such coins as choice about uncirculated as grading interpretations are subjective and vary.
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