Coin grading

Although it takes practice to get good at it, coin grading is something that anyone with a good eye for detail can learn to do. That's basically what it takes to grade coins: A good eye, practice, and of course, you need to have some knowledge of the grades.

If you are serious about learning to grade coins you'll want to get a hold of at least one definitive book on coin grading, such as the Official ANA Grading Standards, which is published by the American Numismatics Association (ANA). The Official Guide to Coin Grading and Counterfeit Detection by Scott Travers and John W. Dannreuther is another good one.

If you are buying a valuable coin or selling a potentially valuable coin, then you'll want to have it graded by a professional third party grading service. You should stick with either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation of America (NGC). Another one, ANACS, which used to be owned by the ANA is also pretty reliable and trustworthy. But PCGS and NGC are the two major ones, and I basically stick with them and don't bother with the rest. The reason being is liquidity. When you go to sell a coin that is PCGS or NGC certified, you can be assured of getting top dollar, as serious coin collectors seek these certified coins out.

Before we go onto the actual grades, it needs to be said that a coin grade has both a name (good, fine, mint-state, etc.) and a number. The number comes from the Sheldon 70 point scale, which is the de facto standard used for grading US coins. 70 being perfect, 60 being uncirculated, and 1 being, well, garbage. To the untrained eye, a mint-state 60 (MS-60) coin would probably be considered perfect. So, as you can see, there are fine distinctions in the number that goes with the grade adjective, and they are often highly subjective.

Also a note about terminology I use...I'll try not to use any technical mumbo-jumbo when describing the grades, but here are a few terms you should know, if you don't already. Devices: The device just means the raised up image on the coin, such as Washington's portrait on the US quarter, or the Lincoln Memorial on the back of a penny. Legend: The main lettering i.e., "United States of America," and "Quarter Dollar." Rims: The rim is just the outside edge of the coin, that has the appearance of a line or ring around the design of the coin.


Coin Grades

Basal State - This is just a piece of metal really. You know it was coin, but that's about it.

Fair - You can discern what type of coin it is, but otherwise it is badly worn and/or damaged. You might not be able to see a date, due to wear. The coin could be bent or have holes in it.

About Good (AG) - A heavily worn coin, with parts of the design still intact. The date should be somewhat visible, but may be only partially readable. AG-3 on the Sheldon scale.

Good (G) - Still heavily worn, but the major parts of the design are visible. Still, most of the details are gone. The date should be readable. Some, but not all, coins require full rims to be considered good. G-4 on the Sheldon scale.

Very good (VG) - Also heavy wear, but the coin has full rims and some visible detail. VG-8 on the Sheldon scale

Fine (F) - F-12 on the Sheldon scale. Moderate to heavy wear, but with the wear being more even, more detail showing, and more distinct rims. Basically, you should be able to see the entire design even though a lot of the details are gone.

Very Fine (VF) - VF-20 to VF-35 on the Sheldon scale. Clearly visible light to medium wear, especially on the higher points of the coin. But all the major features of the coin should be sharp. VF-20 and VF-25 would be considered Very Fine, and VF-30 and VF-35 are Choice Very Fine.


Extremely Fine (EF or XF) - XF-40 is Extremely Fine and XF-45 is Choice Extremely Fine. Visible light wear, but only on the very high points. There may be some mint luster visible on the coin, depending on the type. The devices are clear and sharp.


About Uncirculated (AU) - AU-50, AU-55 and AU-58 on the Sheldon scale. There is a tiny bit of wear on these coins, but only on the highest points of the coin. You should definitely be able to see at least some of the mint luster left.

Mint State (MS) - Also called Uncirculated (Unc), and Brilliant Uncirculated (BU). From MS-60 to MS-70 on the Sheldon scale. MS-65 is Choice uncirculated. There is no trace of any wear in a mint-state coin. On the lower end, you have MS-60, and even though there is no wear, there will still be dings, bag marks, and even scratches on the coin, as a result of being shipped in large bags from the mint. On the high end you have the perfect coin, MS-70, which is extremely rare, and there will be no marks or blemishes whatsoever on this coin.