FR-2 normally means less than AG-3 and better than PO-1. However, there are those of us who collect so many well circulated coins (like typical Barbers) that "FR" has become my personal shorthand for "Full Rim Good". (I refuse to use the cliche "PQ" on a better than average well-worn coin) On a few of my coins a G-6 FR is more of a rarity than say a common 1940s Mercury dime in MS-64 FB or a 1930 quarter in FH. Still, I doubt that grading services will be doing much to cater to my tastes in well-worn coins any time soon, so it's fair to say FR means FAIR.
"Never attribute to malice what can be adequately explained by stupidity" - Hanlon's Razor
Comments
One step below AG3,
PR1
FR2
AG3
that is the order I believe.
All the services (so far as I know), use PO, not PR, which would be confused with Proof, regardless of whether the company uses PR or PF.
Jeremy
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