$5 Liberty Gold Coins XF
"XF" is a contraction for the denotation of "Extremely Fine" on the Sheldon Scale, which was developed in 1949 by Dr. William Herbert Sheldon. The scale ranges from 1 on the low end to 70 on the high end. XF coins tend to fall in the 35-45 range. An Extremely Fine $5 Liberty will be worn and circulated, although the designs will still be discernible and the lettering strong. $5 Liberties did see use in commerce more-so than the $10 or $20 pieces, and therefore not as many survived in XF or higher grades.
Specifics of the Grade
A $5 Liberty may be graded Extremely Fine for several reasons. Perhaps the coin shows a significant type of wear known as"Bag marks", which occur when the soft gold coins in the bottom of a sack of coins are scarred by the shifting weight and friction of other coins in the bank bag coming into contact with them (Think a sack of gold coins being transported by an old railroad car or stagecoach). Also, an XF coin may have been created by a worn down die, showing "Die cracks" and less than optimal detailing of the coin's design. Also in the XF designation, many nicks or scratches probably occur on the "Field", or smooth areas where there are no designs on the coin, though there will also probably be noticeable wear on the prominent "Lady Liberty" or shielded eagle artwork on the front and back of the coin, respectively.