An uncirculated Philadelphia is a coin minted by the U.S. Mint at its Philadelphia facility that never entered into circulation among the public. Uncirculated coins are generally produced as commemorative pieces or as part of collector's sets. Coins that appear uncirculated may also receive the uncirculated grading from coin appraisers.
The Philadelphia Mint facility is the oldest in the country, and coins minted at that facility do not contain a mint mark. Since its inception, the Philadelphia Mint has produced over 362 billion coins, some of which never entered circulation. Uncirculated coins typically carry the highest value to coin collectors.