Coin grade, which sums up a coin's condition, can be tricky. The differences between two grades of coins can be so subtle that it may be difficult for you to determine exactly what grade of coin you possess until you have it evaluated by a third party, such as a coin dealer. The best way to hone your coin grading skills is to practice grading coins at home, and then bring your coin books to a dealer and ask the dealer to grade those same coins. Then you can compare the grades you gave the coins with the grades the coin dealer says are correct.
Use A Trusted Third Party Coin Grading Service
As far as third party coin grading goes, there are two established coin grading services that are respected by professional coin collectors throughout the country. These are PCGS, the Professional Coin Grading Service, and NGC, the Numismatic Conservation Services. You can visit these grading services' Web sites at www.pcgs.com and www.ngccoin.com. Most serious coin collectors will buy only PCGS or NGC coins, unless the coin for sale is extremely rare and appears to be under-rated by an unsuspecting newbie coin collector.
Buy A Coin Grading Book
As you get started with coin collecting, you can find coin books that describe each of the grades, including pictures of sample coins in the grade described. Many other issues factor into the value of a coin, including the metal type of the coin, the age of the coin, the rarity of the coin and the history of the coin. Coin grading should take several questions into account: Is the coin in great condition? Are there signs of wear? How is the luster of the coin?
Understanding The Grades
As few as 6 and as many as 15 grades may be used when assessing general coin condition. Some coins are subjected to 25 grades, starting with "about good" (least valuable condition) and culminating in "perfect mintstate" (absolute best condition possible). The original six grades are as follows: good, very good, fine, very fine, extremely fine and uncirculated.
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