Hi JPK, you have asked the million dollar question here, and there's no simple way to answer it, as the coin in question exhibits just about every vagarity that makes it nigh impossible to pin down! I'm firmly sitting on the fence re the grading of hammered coins, as I genuinely don't believe such a science exists for the type, despite the media of the TPGC's and others! Or at least if it does, it cannot be linked to value, on account of the other far more important aspect of eye-appeal, and currently unquantified rarity of variety (this shilling is the most common of them all, incidentally)! It may be loosely described as an NVF coin, but has other aspects of negatives and positives that alter its value! To play safe and stay with the TPG terminology, it has NVF details! As I said, it's just about the hardest of questions to answer, without a dissertation response, or an ability to define instinct! Are you thinking of buying it? Edit: it's probably VFish truth be told, but not VFish money, given it's the commonest of all the Liz shillings! Double edit: £350-£400