Coin Value 101: Grade/Condition

Coin grading – this is a term that beginner collectors will encounter most of the time. Grading coins is one of the most important processes in determining your coin value and if you are a collector for profit, being well-versed in this area will help you a lot in your future dealings of buying and selling coins.

When you hear the word grade, this refers to how numismatists (person who studies or collects coins) value a coin based on its appearance. Collectors would usually grade coins based on their eye appeal, how the surface shows and if there are marks, chips or dents or how its luster and color are preserved compared to its original or mint state.

When grading coins, there is a system that is widely used today known as the Sheldon Scale. The Sheldon Scale is a 70-point scale for grading coins named after its inventor, Dr. William Sheldon in the late 1940s.

At the earlier stages of coin grading, numismatists and collectors simply categorized coins as poor or basal, good, fine, and uncirculated. As years passed, there was a need for a more precise valuation to grading coins and it was Dr. William Sheldon’s system that paved way to a more objective coin grading.

At present, there exists a modified system, which combined Sheldon’s number grades and its corresponding description (adjectival scale). Let’s run through them briefly:

• Poor – 1: this is a coin that has been badly damaged
• Fair – 2: the type and date is hard to recognize and the coin is worn out
• Almost Good – 3: type and date are recognizable although it still shows significant wear-and-tear; some elements like lettering may not be readable
• Good – 4: the major features of the coin are recognizable but coin is still heavily worn
• Good – 6: the coin still features a full rim and has the characteristic of the previous grade with major features that are recognizable; still could be heavily worn
• Very Good – 8: the coin has the features of the previous grade and has a recognizable legend (inscription on the coin signifying who minted it and for what specific purpose);
• Fine – 12: coin has the features of the previous grade, all legends are readable and is moderately worn
• Very Fine – 20: the coin shows good detail and has moderate wear on the high points and a little wear below
• Very Fine – 25: shows light wear on high points with clear, recognizable details
• Extremely Fine – 40,45: these coins have light wear on high points and can still showcase a trace of the coin’s luster
• About Uncirculated – 50, 53, 55, 58: these coins range from very minimal wear and light trace of friction on the high points with medium to almost full luster.
• Mint State Basal – 60: mint condition coins that are free of any wear
• Mint State higher up to 70: mint state, uncirculated coins with proof designations based on eye appeal, luster or toning, and the absence of contact marks, hair and the like.

Being a master in coin grading takes time and a lot of effort but it is good to have these basics covered as you start on your collection journey. Coin shops like Colonial Acres Coins do not only help beginner collectors expand their newfound hobby, they also feature resources that can help you expound your knowledge on the subject.

As you start on this collection, find a reliable company that can offer assistance every step of the way. Colonial Acres Coins is one of the leading numismatic firms in all of Canada and prides itself by giving collectors the chance to safely purchase coins online along with access lots of helpful information through their informative website. Colonial Acres deals in Canadian & US coins and paper bills.