Although I wasn't asking for grade opinions, and I realize that the range of prices for circulated examples of this issue in any grade tends to be down toward its bullion value, I still feel as if I need to defend the condition of this specimen.
On the Sheldon scale, I'm hard pressed to see how this falls below XF40, let alone to the bottom end of the VF range. It's unlikely to make AU50 on account of the lack of any original mint luster, but gauging by the remaining detail in the crown on the reverse (the king's hair on the obverse being very subtly and softly rendered even when UNC), abrasion and wear to the high points of the devices is really minimal.
Colligo ergo sum