Uncirculated coins: The
term "uncirculated coin" refers to the condition of a coin that
indicates that it has never circulated in the regular money supply in
the economy. In other words, the coin shows no signs of wear on any of
its surfaces. Since most modern coins are mass-produced in large
quantities, it is common that the coin may have small nicks and scrapes
on its surface from the production process and transported in bags and
bins. These minor imperfections are not from the coin circulating in
commerce, and hence the coin is still considered an uncirculated coin.