System For Coin Grades Leaves Room For Subjectivity

"While appraising coins has become a field requiring licensed individuals, one of the key aspects of a coin’s value is its grading"

While appraising coins has become a field requiring licensed individuals, one of the key aspects of a coin’s value is its grading. While there are different methods different appraisers use to determine coin grades, the system devised by Dr. William Shelby is one of the most often used in the United States. The coin grades system is based on a scale of 0 to 70, with 70 being absolutely perfect mint condition and a 0 meaning it may be recognizable as being a coin at one time.

While determining an exact grade requires experience as well as skill but for general purposes, a person can get a reasonable idea of the coin grades in their collection with a magnifying glass and a little understanding of the coin grades mean. It is rare that a coin will rate a grade of Mint State (MS) 70 although it may be uncirculated, will have ever so slight markings from being placed in a roll and shipped to banks where it makes its way to the grocery store.

The odds of finding a coin graded MS 67 or 68 in a roll of coins from the bank or store is about 100,000 to one. Almost Uncirculated (AU) coin grades are listed as AU 50 to 60 and while they will look perfect on the surface, looking closely at the highest points on the coin there will be slight visible signs of wear.

Discrepancies Often Found In Fine Grades

Extremely Fine (EF) will show only slight wear on the highest points of the coin and Very Fine (VF) will have slight wear on the high points but all features are sharp and clear, but may be some degradation on fine features such as hair or feathers on some coins. Worst of the best coin grades is fine (F) which still shows the fine features but many of the details are gone and are usually graded as F-12.

Among the coin grades good, Very Good (VG) is graded an eight with the entire design of the coin being very weak showing a few details and containing the full rim. Good (G) implies heavily worn and includes the design but contains faint spots and Almost good (AG) parts and date of the design have been rubbed away and an outline of the design is still visible.

Nearly the worst of the coin grades is Fair, indicating very little is discernable on the coin, but the type of coin it was can be determined. Coins graded as Basal state, indicate it appears to be a piece of metal, but may have been a coin of some type at some point.

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