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Learning how to save money by grading your own coins
by D. L. Crane
The knowledge of properly
grade coins is a big challenge when you are
starting out on your new coin collection.
Defining the right grade for a coin is essential
to establishing its value. Whether you are
aiming to make money, or to add to your own
collection, being able to grade your own coins
would be the perfect skill that should be
obtained by all collectors. Nowadays everyone
knows that grading services have filled an
important gap in the industry, it is true that
only a small fraction of collectors know how to
grade their coins. The coins which have been
slabbed are sometimes improperly graded.
So grading your own coins
could help save you money. Look for the
following attributes when grading your coins:
Quality of coin, Type of wear or damage the coin
has such as dents or scrapes, and the overall
eye appeal. Also different issues have different
strike characteristics which can change the
aspects of the grading.
Copper coins are graded
differently from Silver and Gold coins
In order to grade a copper
coin you must be able to distinguish the color.
A fresh Mint copper coin would have a red/orange
color but a circulated copper coin carries a
dark chocolate brown color. Copper is a material
which reacts to the earth’s natural elements
like water , air and acids so copper coins are
really not that popular because of the wear you
find on them. After a certain period of time,
markings and profiles become unreadable making
copper coins less valuable depending on mintage.
One technique of grading
coins is using the Sheldon scale. The Sheldon
scale was introduce by Dr. William Sheldon. This
unique scale rates coins on a scale of 1-70.
Obviously because of its perfection, this scale
is being used by the majority of coin collectors
nowadays and is worth investing in if you are a
serious coin collector.
The following is the
definition on the Sheldon Scale which is used
for Grading U.S. Coins
Poor-1 or P-1
(Poor) - due to the coin being badly
damaged or worn the coin is graded ad Poor
Fair-2 or FR-2
(Fair) - coin damaged and extremely
worn.
AG-3 (About Good) -v
although some spots may be worn out. Some
lettering should be readable.
G-4 (Good) - features
are evident as outlines. Although the coin
overall is heavily worn.
G-6 (Good-plus) -
Coin has a full rim plus features are
clearly outlined. Heavy wear.
VG-8 (Very Good) -
Full rim with clearly discernable devices
and features. The whole coin is
significantly worn
F-12 (Fine) -
Distinct rim, all legends readable, clear
devices showing some detail, but the whole
coin is moderately, but evenly worn.
VF-20 (Very Fine) -
Clearly readable lightly worn ,good detail,
rims are clean, but the whole coin shows
wear on the high points and some wear below.
VF-30 (Good Very Fine) -high
points are lightly worn.
EF-40 (Extremely Fine) -
slight but obvious wear on the high points.
XF-45 (Choice Extremely
Fine) - This means the coin has great
eye appeal.
AU-50 (About
Uncirculated) - some remaining mint
luster.
AU-55 (Good about
Uncirculated) - hint of wear on the high
points. Great eye appeal.
AU-58 (Choice about
Uncirculated) - uncirculated, except for
minor marks. Nearly all mint luster must be
present, and must have outstanding eye
appeal.
MS-60 (Mint State Basal)
- Coins in this grade aver worn but in
mint condition with no wear what so ever
The MS60 -MS70 Coins are the most appealing
and most looked for coins.
Before using the Sheldon
Scale you have to determine the wear of your
coins you can do this by following this
technique:
A) You will need an
excellent light source example a one hundred
watt bulb, and a Magnifying glass which
magnifies up to 5 or 8 times more than a normal
magnifier.
B) You have to determine
if your coins are circulated, uncirculated or of
mint state. Even the slightest hint of wear
could decrease the value of a coin.
C) Finally compare you
coins to the Sheldon scale. It is recommended
that you invest in a standard coin grading book;
this also is convenient because it carries
photos with a description and price margin of a
specific coin.
Coin collectors usually use
the services of certification companies to
increase the value of their coins. . These
companies are usually of third parties and
determine the authenticity and condition of the
coin providing a certification number and will
leave comments regarding the state and rarity of
the coin.
Using the internet to sell
coins is the most common way to offload your
collection
As there are many websites
that offer services of coin sales, including
eBay, Forums or just by clicking and joining in
Coin websites.
Here are some tips on how to use the Internet
for your own advantage:
eBay you can either join in on auction
or find the Buy it now option.
Place Ads on face book or other
websites to let people know you are buying
or selling
Use online forums
Use Photographs with descriptions.
So as you can see investing a little of your
time in doing research , teaching yourself about
the Sheldon scales , distinguishing if the coin
is circulated , uncirculated or that of a mint
state will help you save money.
Go to
www.BestCoin.Com for a Free Coin Guide and
More Coin Collecting Information.
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