If you are a coin collector, you should know all the basics about coin grading. Coin collectors or investors know that the better the grade of the coin, the higher its value. But do you know why grading is done or how is it done? Are you aware of the factors to consider when grading a coin? If you are not familiar with this information yet and you are a coin collector or you want to enter the coin collecting industry, then this article is for you.
Every dealer should be knowledgeable about numismatics. However, coin collectors, these days are also encouraged to learn more about what the dealers know. There is a coin buyer near me that suggests that coin collecting is more than just buying and selling good and high-quality coins. So let this article give you more information about everything that you need to know about the process of coin grading.
Coin Grading – When And Where Did It Start?
If you are interested to know about the history of coin grading, then this part is for you. The basics used in coin grading today was created by Dr. William H. Sheldon in 1949. He was a numismatist and the system was known as the Sheldon scale. This consisted of a range of point values – 1 to 70. What this scale means is that a coin that has a rating of 70 should be worth 70 times as much compared to a coin rated at 1.
Using this system, the value of the coin will increase with each grade. The Sheldon Scale was simpler compared to the ones being used today. Still, this is the basis of the modern grading system. In 1986, the Professional Coin Grading Service (PCGS) expanded this system. They added a letter grade that is accompanied by a numerical value.
Understanding the Coin Grading Process
Using the new coin grading system, a point value is assigned to a coin range which is still 1 to 70 where 1 is the lowest rating that a coin can receive and 70 as the highest value. Aside from this, there is also the grading element. There are 12 possible adjectives that can be assigned to a coin:
- Poor (PR) – 1
- Fair (FR) – 2
- About Good or Almost Good (AG) – 3
- Good (G) – 4 to 6
- Very Good (VG) – 8 to 10
- Fine (F) – 12 to 15
- Very Fine (VF) – 20 to 35
- Extremely Fine (XF) – 40 to 45
- About Uncirculated (AU) – 50 to 58
- Mint State or Uncirculated (MS) – 60 to 70
- Proof (PF) – 60 to 70
Know What Is The Plus (+) Grading
If you get the chance to look at graded coins at https://www.houstoncoins.com/, you will notice that there are others that are graded followed by a plus (+) sign. That is the symbol that simply indicates that the coin is considered as among the best quality coins in the particular grade. This means that the coins with grade followed by a plus sign are more expensive than those with no plus sign.
When buying a coin, it is important that you choose a dealer who can provide you with coins that are graded either by PCGS or NGC. this way, you are sure that they are real, authentic, fairly-graded, and unaltered. That means that you are getting the best value for your money.