How Does Coin Grading Work?
Starting a coin collection is relatively easy, but recognizing its (coins’) value is rather difficult. Not many people have adequate knowledge of coin grading, something that’s fundamental for a valuable collection. If you happen to be one of them, here is a brief explanation of coin grading:
Coin grading is basically the process of examining the condition of a coin and then grading it accordingly. The lowest grade that a coin can get is 1. Similarly, the highest grade that can be given to coins is 70. There are a number of agencies in the US that render coin grading services. However not all of them are reliable and standardized. So if you plan on approaching a coin grading company, make sure to conduct adequate research first.
That being said, here are some important points that you need to know about the “70-Point Coin Grading Scale”:
70-Point Grading Scale
First and foremost, the coins are given a particular number (that represents its value) on the Sheldon Scale when graded. Moreover, coins are graded at key spots, some of which are given below:
The first grade is P-1. As the name suggest, the coin will be in a terrible and unrecognizable condition. The date may scarcely be visible, if not gone altogether. As mentioned earlier, this is the lowest grade that coins can possible get.
Here the coin is assigned a numeric value of 2. The images on the sides should be adequately visible. Plus the date should be noticeable enough to be read.
(G-4 to 6) Good
Coins with a value of four are considered to be in a good condition. However, the details (inscriptions) may seem a bit vague. Moreover, it rims will be undamaged.
(VG-7 to 10) Very Good
Numeric values ranging from 7 to 10 are assigned to coins that appear to be in a very good condition. Here all the details of the coin will be quite visible, with negligible faint.
(F-11 to 19) Fine
Coins that fall under this grade are generally quite worn out. However, the details are bold and visible.
(VF-20 to 38) Very Fine
As the name suggests, these coins are lightweight, with all the basic elements clearly noticeable. Plus, they are quite clean appearance-wise.
(EF-39 to 40) Extremely Fine
This rating is given to coins that have minimum wear & tear, and be very light. Moreover, all its key elements will be quite bold.
(AU-50) About Uncirculated
These coins will probably have over 90% of its design remaining and will give a reasonable amount of shine as well. Moreover, they will be exceedingly lightweight.
(60 to 65) Mint State
Coins with the mint state grading generally have 100% of their design intact, with sufficient luster. Furthermore, they are strictly uncirculated.
(70) Perfect Uncirculated
Perfect Uncirculated grading is the highest possible grade a coin can get. The coin appears in an impeccable condition, with seemingly no wears or damage, which is a reason why it’s so costly.
Understanding the coin grading scale is a must for every coin collector. There’s a lot to remember but these simple grade definitions will help you build an exquisite coin collection, easily.