Coin Grading Explained

Understanding the Sheldon Scale in Coin Grading

In 1949, Dr. William Sheldon introduced a grading system for coins in his book Early American Cents. This grading scale ranges from 1 (Poor) to 70 (Perfect), providing a standardized way of assessing the condition of coins. While it started as a basic guide, it gained popularity quickly and was adopted by the American Numismatic Association (ANA) in the 1970s. Over time, the scale evolved into the more detailed version that’s in use today.

Read Whole Article: https://bullionsharks.com/coin-grading-explained/?el=linkedin_organic

Breakdown of Coin Conditions According to the Sheldon Scale:

• AG 3 (About Good): Coin shows significant wear, with parts of the date and lettering possibly illegible.
• G4 (Good): Design is visible but heavily worn, with flat features.
• VG 8 (Very Good): Main features are discernible but slightly worn.
• F 12 (Fine): Moderate wear with bold design features.
• VF 20 (Very Fine): Clear major features with moderate wear.
• VF 30 (Choice Very Fine): Features are well-defined, with light wear on the high points.
• EF 40 (Extremely Fine): Sharp features with minimal wear, some luster visible.
• EF 45 (Choice Extremely Fine): Well-defined designs, some luster, and slight wear on high points.
• AU 50 (About Uncirculated): Nearly full luster, with light wear on high points.
• AU 55 (Choice About Uncirculated): Most luster intact, some visible friction on high points.
• MS 60 (Uncirculated): No wear, but coin may have marks or blemishes.
• MS 63 (Choice Uncirculated): No wear, but visible marks and luster imperfections.
• MS 65 (Gem Uncirculated): High-quality coin with minimal marks.
• MS 70 (Perfect Uncirculated): A flawless coin in mint condition.
• PF 60 (Proof): Dull luster with minor imperfections visible.
• PF 63 (Choice Proof): Reflective finish with few imperfections.
• PF 65 (Gem Proof): Almost perfect condition with brilliant detail.

Grading Integrity and the Role of Certification: Coins that have been cleaned or damaged can lose significant value, making it important to check for any signs of alteration before purchasing uncertified pieces.

Coin grading, while not an exact science, is an essential practice for collectors. Over the past several decades, four primary grading services have emerged, with the Sheldon Scale serving as the benchmark for evaluating coin quality. Among these services, two stand out: NGC (Numismatic Guaranty Corporation) and PCGS (Professional Coin Grading Service), both of which are widely trusted by the numismatic community. Below is a closer look at these and other grading services:

NGC: Leading the Way in Certification

Founded in 1987, NGC is based in Sarasota, Florida, and is renowned for its global presence in grading rare and collectible coins, including ancient, shipwreck, and modern pieces. NGC's certification process involves authenticating, grading, and encapsulating each coin in a secure, airtight holder. Their rigorous standards earned them recognition as the official grading service for the ANA and PNG.

PCGS: A Commitment to Accuracy

Established in 1985 in California, PCGS was created by a group of experts seeking to address the need for accurate coin grading and protection against counterfeit coins. PCGS encapsulates graded coins and offers a final quality check to ensure authenticity. Their dedication to quality has made them one of the most respected grading services in the industry.

ANACS: The Pioneer in Coin Grading

ANACS, founded in 1972, was the first major third-party coin grading service in the United States. Originally operated by the American Numismatic Association, ANACS helped combat the rise of counterfeit coins in the 1960s. Today, it continues to provide reliable coin certification services.

ICG: A Reliable, Fast Option

Independent Coin Graders (ICG), founded in 1998, is known for offering efficient and cost-effective grading services. Though smaller than the others, ICG has built a strong reputation for integrity and quick turnaround times in certifying coins.