Reference

What Does FDC Mean on Coins? The Fleur-de-Coin Reference

FDC — Fleur-de-Coin, French for “flower of the die” — is the UK descriptive grade for a flawless coin. Spink, Baldwin’s and London Coins still use it; PCGS and NGC have mostly migrated to the numeric MS-70 / PR-70 equivalents. This reference covers the term’s 18th-century French origins, the distinction between Proof FDC and BU FDC, when FDC commands a 30–60% premium and how to spot misrepresented FDC claims on eBay UK.

Last updated: 22 June 2026
In brief. FDC means “Fleur-de-Coin” — flawless, as struck. Equivalent to MS-70 / PR-70 on the Sheldon scale. Used by Spink, Baldwin’s and London Coins in UK auction catalogues. PCGS and NGC use numeric grades. Proof FDC and BU FDC are distinguished by striking method; both describe condition only.

Where the term Fleur-de-Coin comes from

The phrase Fleur-de-Coin (literally “flower of the die”) appears in 18th-century French numismatic catalogues to describe a coin in its perfect, freshly-struck state. The metaphor compares a new coin to a flower in full bloom: pristine, complete, before any touch or wear. The Cabinet du Roi at Versailles used the descriptor; the early Bibliotheque Nationale in Paris adopted it; from there it spread to English-speaking numismatic catalogues through the 19th century via French dealer networks.

Curiously, the term has largely disappeared from modern French numismatics, where contemporary auction houses use the international Sheldon scale or the European 4-tier descriptive system (B, TB, TTB, SUP, FDC). FDC survives in French as the top-tier modern descriptor but the wider phrase “Fleur-de-Coin” is now an English-language fossil — a French expression preserved in UK auction practice longer than in its source country.

FDC vs Proof vs UNC — when each applies

Four UK descriptive terms cluster at the top of the grading scale and are sometimes confused. Each describes a different aspect of a high-grade coin:

TermWhat it describesSheldon equivalentTypical use
UNCNo wear from circulationMS-60 to MS-70Any uncirculated coin (broad)
BURoyal Mint product, polished dieMS-65 typicalRoyal Mint commemorative pack
ProofMulti-strike polished-die finishPR-60 to PR-70Mirror-field commemorative
FDCCondition: flawless, as struckMS-70 / PR-70Top-tier non-proof or proof

The crucial distinction: UNC, BU and Proof describe how the coin was made; FDC describes what condition it’s in. A coin can be UNC and FDC simultaneously (a flawless circulation strike) or Proof and FDC (a flawless proof) or BU and FDC (a flawless BU strike). FDC is a flag of perfection, not a finish type.

Why FDC is rarer in modern UK grading vocabulary

Three forces have pushed FDC out of mainstream UK grading vocabulary over the past 25 years:

  1. Slabbing services standardised on Sheldon. PCGS (founded 1986) and NGC (founded 1987) both use the 1–70 Sheldon numeric scale exclusively. Coins they slab carry numeric grades, not descriptive ones. As more UK coins enter slabs, more discussion uses MS-67 / PR-69 DCAM language rather than “UNC with cabinet friction” or “FDC”.
  2. CGS UK adopted a numeric scale. Coin Grading Services (UK) launched in 2004 with a 1–100 numeric scale modelled on Sheldon’s 70-point system. CGS UK is the most popular slabbing service for UK collectors and its scale dominates UK forum discussion.
  3. Online price aggregation rewards numeric grades. Realised-price data, including our own MyCoinage database, breaks prices out by grade. A coin priced at £180 in MS-65 vs £320 in MS-67 is more useful pricing data than “EF–UNC” or “FDC”. Numeric grades scale better in spreadsheets and data systems.

FDC survives strongest in printed UK auction catalogues — Spink, Baldwin’s, London Coins — where descriptive grading remains the house style. Online and slabbed coin discussion has largely moved to numeric grades.

UK auction houses still using FDC

Three of the five major UK numismatic auction houses retain FDC in their catalogue grading:

  • Spink & Son — founded 1666, the oldest numismatic firm in the world. Spink’s standard catalogue (the “Spink Coins of England” annual) uses Fine, VF, EF, UNC, FDC throughout, with PR or PR-FDC for proofs. Auction lots are described in the same vocabulary.
  • Baldwin’s of St James’s — long-established London dealer and auctioneer (separate from the Baldwin’s name held by Stack’s Bowers). Catalogues use UK descriptive grades including FDC.
  • London Coins — Bracknell-based auction house with quarterly UK coin sales. Uses descriptive grading with numeric grades occasionally noted for slabbed lots.

Noonans (formerly Dix Noonan Webb) and Heritage Auctions both use Sheldon numeric grades primarily, with FDC mentioned only when describing a slabbed UK lot for context. See our UK auction house comparison for commission rates, sale calendars and consignment policies for each.

Proof FDC vs BU FDC — why both exist

The two compound terms describe flawless condition combined with one of two striking methods:

  • Proof FDC. A flawless proof coin: mirror fields, frosted devices, no contact marks, no hairlines, full strike, deep cameo contrast. Equivalent to PR-70 DCAM at PCGS / NGC. Sold at the proof premium plus the FDC condition premium — typically 30–60% above a standard PR-65 grade.
  • BU FDC. A flawless Brilliant Uncirculated strike: full lustre, sharp design, no contact marks, no hairlines. Equivalent to MS-70 at PCGS / NGC. Sold at BU premium plus FDC condition premium.

Why both exist: a Royal Mint commemorative is sold in two main formats — BU pack and proof pack — and each has its own price-condition curve. A Spink auctioneer cataloguing a lot needs to communicate both the striking method (Proof or BU) and the condition (FDC or lower). “Proof FDC” says: this is a proof, and it’s flawless. “BU FDC” says: this is a BU strike, and it’s flawless. Each commands a different price tier even when both grade FDC.

When FDC commands a real premium

FDC pricing only differs meaningfully from MS-65 / PR-65 in three scenarios:

  1. Top-pop coins. When the FDC example is the highest-graded across PCGS, NGC and CGS UK population reports, it represents the absolute peak quality available. Top-pop status drives competitive bidding from registry-set collectors who want the finest known example. Premiums of 100% or more above the next grade down are common in this scenario.
  2. Low-mintage commemoratives. Issues with under 50,000 coins struck where the FDC population is in the dozens. The 2009 Kew Gardens 50p had a mintage of 210,000; FDC examples (MS-67+) are scarce and trade at £350–£500 against £180–£200 for MS-65.
  3. Key dates and rarities. Already-scarce dates where condition uplift is amplified by underlying rarity. A 1937 Edward VIII pattern brass threepence in any UNC grade trades for six figures; in FDC condition the same coin commands an additional 30–60% premium on top.

For common-mintage circulating issues where MS-65 examples are plentiful, the FDC premium narrows or disappears. A 2014 Britannia 1oz silver bullion in MS-65 and FDC trade at similar prices because the condition isn’t scarce enough to support a separate tier.

How an FDC slab differs visually

A coin graded MS-70 or PR-70 (the slabbing-service equivalents of FDC) carries the highest-tier label format:

  • PCGS MS-70 or PR-70. Gold-foil insert with the grade prominently displayed; the slab itself is the standard PCGS holder. The gold insert is unmistakable from across a coin show floor.
  • NGC MS-70 or PR-70. Black insert with gold lettering. NGC also issues “Star designation” (MS-70★) for exceptional eye appeal within the grade, with a star symbol on the label.
  • CGS UK UNC-95+ / UNC-100. Gold-banded insert; the highest CGS grade is UNC-100 (perfect) and is exceedingly rare. UNC-95 to UNC-99 also carry premium-tier labelling.
  • Spink / Baldwin’s FDC. Loose coin in tissue paper or capsule with a written description on the lot card. UK auction houses don’t encapsulate; the condition statement in the catalogue is the authentication.

Authentication: claimed FDC on eBay is often misrepresented

FDC is widely abused on eBay UK and other online marketplaces, where sellers use the term loosely to mean “new in packaging” or “like new” rather than the strict “flawless under 5× magnification” sense. Five tells separate genuine FDC claims from misuse:

  1. Slab confirmation. A genuine FDC coin commanding the FDC premium is almost always slabbed by PCGS, NGC or CGS UK at the equivalent grade. If the listing is a non-slabbed coin claiming FDC at £200+ for a coin worth £120 in MS-65, the FDC claim is unverified.
  2. High-resolution photographs under raking light. A genuine FDC coin photographs cleanly; any contact mark, hairline or tone ring is visible at higher magnification. Listings with low-resolution, flat-light photography are hiding surface defects.
  3. Comparison to known FDC examples. Cross-check the photograph against PCGS Photograde or NGC’s grade-at-a-glance reference for the same coin in MS-70 or PR-70. Genuine FDC examples have flawless focal areas and full lustre / mirror.
  4. Pricing alignment. If the asking price is the FDC premium tier (30–60% above MS-65 market) but the coin is non-slabbed and non-pedigreed, ask why. A coin truly worth FDC premium would have been slabbed by the consignor to capture that premium.
  5. Seller reputation. Established UK numismatic dealers (BNTA members, established eBay sellers with 10,000+ feedback in coins) can be trusted on FDC claims; new sellers and bulk-listing accounts cannot. See our where to buy rare coins UK guide for a vetted dealer list.
½ Sovereign - Elizabeth II 3rd portrait; Proof
½ Sovereign - Elizabeth II 3rd portrait; Proof
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up to £7,155
5 Pounds - Elizabeth II Royal Wedding; Gold Proof
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up to £4,687
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up to £1,930
2 Pounds - Elizabeth II 75th VE Day; Gold Proof
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up to £1,761
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up to £925
5 Pounds - Elizabeth II Gothic Crown Quartered Arms; Silver Proof
5 Pounds - Elizabeth II Gothic Crown Quartered Arms; Silver Proof
2021
up to £925

Frequently asked questions

What does FDC mean on a coin?
FDC stands for Fleur-de-Coin, French for “flower of the die,” an antiquarian numismatic term meaning “as struck” with no blemishes or imperfections. The term originates in 18th-century French coin catalogues where the “flower” metaphor described a coin in the perfect bloom of its production — before any contact, wear, toning or handling. In modern UK auction catalogues FDC is used for the highest-grade non-proof and proof coins, equivalent to MS-70 or PR-70 on the Sheldon scale. Spink, Baldwin’s and London Coins still use FDC; PCGS and NGC have largely abandoned it in favour of numeric grades.
Is FDC the same as MS-70?
They are nearly equivalent but not identical. MS-70 on the Sheldon scale means flawless under 5× magnification — PCGS and NGC apply this strictly, with only a small fraction of submitted coins receiving the grade. FDC as used by Spink and Baldwin’s is slightly more forgiving, accepting minor die polish lines or strike weakness as long as the coin has no contact wear or post-mint damage. A coin graded MS-70 by PCGS will always grade FDC at Spink; the reverse is not always true. Both terms describe the highest condition tier; the difference is in interpretation.
Is FDC a grade or a finish?
FDC is technically a grade descriptor, not a finish. It can be applied to any coin in flawless condition regardless of how the coin was struck. A circulation-strike business coin can theoretically grade FDC if it survived the Mint without any contact mark; a proof coin can grade FDC if it has the perfect mirror-and-frost surface a proof should show. In modern UK usage FDC is most often used for proofs (where it’s sometimes written “Proof FDC”) but it can apply to BU and Specimen pieces too. The distinction matters in auction catalogues where “FDC” alone vs “Proof FDC” vs “BU FDC” signal different things.
Why do PCGS and NGC use MS-70 instead of FDC?
PCGS and NGC are US-founded grading services built around the Sheldon numeric scale, which Dr William Sheldon introduced in 1949. The numeric scale provides finer differentiation than descriptive terms (MS-65 vs MS-66 vs MS-67 are three distinct tiers; “Gem” is one), and it scales internationally without requiring translation. PCGS and NGC slabs occasionally include FDC notes on UK coins for buyer familiarity, but the slab’s primary grade is always numeric. CGS UK uses a 1–100 numeric scale that mirrors the Sheldon approach. The shift to numeric grades happened across the 1980s and 90s and is now industry standard for all but traditional UK auction houses.
Which UK auction houses still use FDC?
Three major UK numismatic auction houses retain FDC in their catalogue grading: Spink & Son (the oldest UK numismatic firm, founded 1666), Baldwin’s of St James’s (a long-established London dealer and auctioneer), and London Coins (a Bracknell-based auction house). All three publish printed catalogues that use the UK descriptive grading system — Fine, VF, EF, UNC, FDC — alongside Sheldon numeric grades for slabbed lots. Noonans (formerly Dix Noonan Webb) increasingly uses numeric grades; Heritage Auctions uses Sheldon. See our UK auction house comparison.
What is the difference between Proof FDC and BU FDC?
The two terms describe a flawless coin produced via two different striking methods: Proof FDC is a flawless proof — mirror fields, frosted devices, no contact marks, no hairlines, full strike. BU FDC is a flawless BU strike — full lustre, no field mirror, no contact marks, no hairlines. Both are MS-70 grade. The price difference reflects the underlying coin: a Proof FDC commands the proof premium (the proof itself retails at £30–£100+ over face) plus the FDC condition premium (typically 30–60% over a standard proof of the same issue). BU FDC commands BU premium plus FDC condition premium — usually less in absolute terms but proportionally significant.
When does FDC command a 30–60% premium?
FDC commands a meaningful premium over MS-65 or PR-65 grade in three scenarios: (1) top-pop pieces — coins where the FDC example is the highest-graded across all major slabbing services; (2) low-mintage commemoratives — where collectors compete for the finest examples; (3) key dates and rarities — where any condition uplift is amplified by underlying scarcity. A 1953 Coronation crown in MS-65 trades at £30; in FDC (PR-69 or MS-69) it trades at £120–£180. A 2009 Kew Gardens 50p in MS-65 trades at £200; in FDC at £350–£500. The premium narrows for common-mintage circulating issues where MS-65 is plentiful.
How does an FDC slab differ visually?
A coin slabbed at FDC (or its numeric equivalent MS-70 / PR-70) by PCGS or NGC carries the highest-tier label colour: PCGS uses a gold-foil insert for MS-70 and PR-70 grades; NGC uses a black insert with gold lettering. CGS UK denotes its highest grades (UNC-95+) with gold-banded inserts. The slab itself is the same construction; only the label changes. UK auction houses (Spink, Baldwin’s, London Coins) typically describe FDC coins in catalogue text rather than encapsulating them, since the lots are sold individually rather than as graded inventory. A Spink FDC coin is loose in a tissue paper or capsule; a PCGS PR-70 coin is in a plastic slab.
Are eBay claims of “FDC” reliable?
Generally no. FDC is widely abused on eBay UK, where sellers use it loosely to mean “as new” or “in original packaging” rather than the strict “flawless under magnification” sense. Treat any non-slabbed eBay listing claiming FDC with scepticism: ask for high-resolution photographs of the coin under raking light, look for contact marks on the focal areas, and compare the surface to known FDC examples. If the asking price is the FDC premium tier (30–60% above MS-65), the coin should be slabbed by PCGS, NGC or CGS UK at the equivalent grade — if not, you’re paying for a claim, not a verified condition. See our eBay sold listings guide.
Where does the term Fleur-de-Coin come from?
“Fleur-de-Coin” (French: “flower of the die”) appears in 18th-century French numismatic catalogues, particularly those of the Cabinet du Roi at Versailles and the early Bibliotheque Nationale. The metaphor compared a freshly-struck coin to a flower in full bloom — the coin in its perfect, just-produced state before any handling, wear or toning. The term entered English numismatic usage through 19th-century catalogues that traded with French dealers, and survived as a UK-specific descriptor while continental and US numismatics moved to numeric grading. The term has no equivalent in modern French numismatics; it’s now an English-language fossil from a French source.
Can a circulation-strike coin really grade FDC?
Yes, but it’s extremely rare. The Royal Mint produces millions of circulating coins per year; almost all carry at least minor bag marks from production handling. A circulation-strike coin grading FDC (MS-70) requires that it survived the entire production-and-distribution process without a single contact mark on any focal surface, which happens to perhaps one coin in every 100,000+. PCGS and NGC report MS-70 circulation strikes for modern UK coins at rates of 0.1% or lower in submission populations. Most claimed “FDC circulation strikes” in the secondary market are actually MS-67 or MS-68 examples being marketed loosely.
Is FDC always the highest grade?
Yes — in the UK descriptive system, FDC is the absolute top grade. There is no descriptor above FDC; any qualifier like “Choice FDC” or “Gem FDC” is auction-catalogue language emphasising the example’s exceptional eye appeal within the FDC tier rather than a grade above it. On the Sheldon scale, MS-70 and PR-70 are equally the top: there is no MS-71. The 70-point Sheldon scale is closed at the top end. Some grading services (notably ANACS and ICG) issue plus-grades like MS-67+, but no service issues a grade above MS-70 or PR-70. FDC, MS-70 and PR-70 are all equivalent terms for the perfect coin.
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Reviewed by Connor Jones, Editor. Every MyCoinage guide is fact-checked against realised auction sales before publication.
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