A grade sums up the condition of the coin. The higher the grade, the more valuable the coin. In relation to this, coin collectors must be careful in purchasing or selling their coins. Careless or ignorant collectors may find themselves victims of scrupulous dealers or auctioneers. It is best that coin collectors do research on grading coins and its many classifications and characteristics.
Grading coins is a skill that serious collectors must acquire. Like any skill, such as cooking or carpentry, coin grading proficiency is achieved through the thorough study of coin collecting and grading guides, talks and meetings with experienced collectors and reputable dealers, and, of course, lots of practice.
Published standards set objective criteria for grading, yet some amount of subjectivity is to be expected. Experienced and expert coin graders have their own interpretation or opinion of certain coin characteristics. Sometimes a little difference on grade assignment could be placed on a single coin. Again, it would be best if the owner of the said coin knows how to make a reasonable assessment before making an informed decision. Knowledge is the best protection of the coin collector.
American Numismatic Association standards are widely used in the United States but are not the only system used. Other countries and international associations and groups use the grades Fair, Fine, Very Fine, Extremely Fine, Uncirculated, and Fleur-de-coin (according to some dictionaries, this term can only be applied to proof coins; which are absolutely perfect specimens, without bearing any wear, marks or blemishes; in other words, coins that are in mint condition). The Sheldon scale, on the other hand, is the basis for the numerals in grading coins.
There are two major categories in grading coins. The first is the Uncirculated Coins. These are coins in mint state (MS), barely or without any sign of wear. The grades in this category are from MS-60 to MS-70 in one point increments. Market values for many uncirculated coins vary dramatically from one grade to the next.
For circulated coins, the grade is primarily a sign of the how much wear has occurred. In general, it does not take into account the presence or absence of dings, scratches, toning, dirt and other foreign substances. ANA grading standards recognize 11 grades for circulated coins, starting from AU, EF (extremely fine), VF (very fine), F (fine), G (good), VG (very good), AG, F (fair), and P (poor).
| Raymond Hollister is a coin collecting expert. For more great information on collecting values be sure to visit http://www.insidercoincollectingsecrets.com. Article Source: http://EzineArticles.com/?expert=Raymond_Hollister |  |
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