Monday, March 13, 2017

Grading Coins With a Reference Set

A frequent question I get  is "What would you grade this coin?"

There is a lot of hesitance coming from new collectors when it comes to grading coins.  It may be they don't have the experience to know what it entails.  Some think there is some specialized knowledge or certification required to account for all the mysterious subtle nuances of which they may not be aware.  I talk to folks that only deal with TPG coins and if its not slabbed, its poison.
A PCGS slabbed Lincoln Cent
It comes down to confidence in one's own judgement.  Without experience there can be a great deal of insecurity when stepping into unknown territory.  Don't let it stop you from estimating the grade of a coin.  


There are tools out there which will help guide you.  Have a look at PCGS Photograde.  This is one of the top TPG (Third Party Grading) services out there and is generally accepted as being accurate most of the time.  On the site you'll find photos of every series of US coins in every grade level.  If you don't know what your coins is, keep looking at the pictures until you find a series that matches your coin.  To grade your coin, all you have to do it compare your coin to the photos, choose the grade that is the best match to what you have in hand.  There's no magic here, no secrets or tricks, just a side by side comparison.

For those times when you are not online, consider putting together a graded set for yourself.  You could spend the big money and buy several slabbed coins in various grades, but chances are good that you already have coins in your collection assigned a grade with which you are confident.  Set them aside, use them as a reference set. Collect AG, G, VG, F VF, XF, AU, UNC. Collect several of each so you can get a range of coins that fit in that grade.  Come across a specimen you have not graded, all you have to do is compare it to the reference set.  Over time you'll gain experience.  Experience builds confidence.  With enough experience, you can grade anything  and be confident that your estimate is generally accepted as accurate.

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