There is at least as much art as science to grading coins. It is a skill that any interested investor or collector can learn with practice. Coin grading is important to both investors and collectors because, generally speaking, higher grade coins are worth more money. In some coins and grades, even slight differences in grade can translate to big differences in value.

Dr. William Shelby's book, Penny Whimsy, introduced the 70 point scale on which most American coins are graded today. The scale begins at 0 which means you can barely tell what kind of coin it was, and goes up to 70 for a coin in absolutely perfect condition. Coins graded 60 and above are considered "uncirculated," that is, with no visible signs of wear at all. There is wide agreement for the standards for each grade in the industry, but as there are subjective decisions to be made with every coin, there can be over- and undergrading for various reasons.

The Earl American Coppers Society is a reputable numismatic organization which never the less has a reputation for undergrading coins according to the accepted standard. Unscrupulous dealers may overgrade coins to take advantage of unwary customers. Or coins may simply be mistakenly graded by beginners. In any case, the smart collector learns as much as possible about such a valuable skill.

Raw beginners should get professional help in grading coins. The problems tends to be more serious when buying. If you are selling, you can simply shop a coin around and pick your best price. It's a good idea to get the coin graded first. There are many current guides to price for graded coins.

The Official A.N.A. Grading Standards for United States Coins, published by the American Numismatic Association, is the very best place to start.

Dealers often sell grading sets for different coin types. Besides the two books listed above, there are many books and CDs available on coin grading. Study up and enjoy the art!

1 October 2008 by Gerald

Posted Wednesday 1 October 2008 by Xavier and filed under Grading Coins. Follow comments via the RSS 2.0 feed. Leave a response, or trackback from your site.