Grading Coins In Coin Collecting – The 6 Types Of Coins To Know About

The quantity of the coins you hold does not judge your ability in coin collection. One other important thing that you have to keep in mind is the quality. The coins are graded on a scale of 0 – 70, which was introduced by Doctor William Shelby, and this process was called “Penny Whimsy”.

Following are the methods in which the coins are graded:

1. Mint State Coins

These types of coins almost have a value of about 60 – 70 on the scale. This kind of coin has no flaws, whatsoever. Many coins that belong to this category are shiny, new, unworn, and uncirculated.

2. Almost Uncirculated Coins

“Almost Uncirculated” coins are rated 50 – 58 on Doctor Shelby’s scale.

The coin collectors must always know the various locations of high points in this type of coin. The best way to check this coin is to see the difference in the light reflection in the various high points. This is the specialty of the “Almost Uncirculated” coin, and this is how it differs from mint state coins.

3. Fine Coins

These kinds of coins are further classified as:

(i) Extremely Fine Coins which range from 40 – 45. Mint luster will be present in this coin.
(ii) Very Fine Coins which range from 20 – 30 or even 35. These are the coins that could have been in use for around 1- 3 years, and the minor details might not be present anymore.
(iii) Fine Coins range from 10 – 20, depending on the closeness of the details in the coin. These coins generally are worn out, yet have their design.

4. Good Coins

These coins are of three types, “Very Good Coins, and “Good Coins” and “Almost Good Coins”.

Most of the intricate details would have disappeared by now. But, the weak designs will still remain, and they can be observed. Otherwise, the high points in the coin are smooth.

Generally, the “Very Good Coins” get to have the full rims, and the mint mark, along with the date will be visible in case of “Good Coins”. “Almost Good Coins are worn out!

5. Fair Coins

These kinds of coins are totally worn out, but they can be identified with what remains. As long as it is identifiable, it is good!

6. Basal Coins

These kinds of coins can be identified as coins, but then, what kind of coin it is, is hard to say.

These are the classifications in which the coins can be graded. Always remember that the grading knowledge of coins will give you an edge in your coin collecting spree.

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by ariel.chico

Why You Need To Consider Your Coin Collection Value

The coin collection value is the most important aspect of coin collecting for most collectors. Many people regard coin collecting as an investment, so they need to be updated with market demands. In general, the valuation of a particular coin depends on its condition, mint rarity and denomination which is why collectors must build up their knowledge in these areas.

 There are many price guides which are used for referencing by coin collectors. “The Standard Catalog of World Coins” by Chester L. Krause and Clifford Mishler manage to cover coins starting from 1601, all the way down to the present time in five volumes. In the book, coins are identified and their prices are listed.  When trying to determine my coin collection value I have often referred to this publication and can personally recommend it as a good source of information.

A guide book for United States coins called the “Red Book” is published annually and is also a respected authority as a retail price guide. The “Blue Book” and the “Black Book” are also well established price guides to determine the value of a coin and thus the coin collection value. The “Coin Dealer Newsletter”, more popularly known as “the Greysheet”, is a price guide for coin dealers. The Numismatic News publishes prices for dealers, bidders and retailers. There are even online resources which maintain prices of coins like the “NumisMedia” website and a price guide for U.K. coins maintained by Tony Clayton can be found on his personal website.

As a rule rare coins are more expensive but rarity does not necessarily have to do with the age of the coin. Some Chinese coins which might be a thousand years old do not sell at high rates because they are common. The price of the coin also depends on the demand for the coin. If a lot of collectors want a particular coin, its price will get higher.

Collectors must also think about grade when establishing their coin collection value. Coin grading is a method of assessing the condition of the coin – the grade of the coin has a high determination of the eventual valuation of the coin. If a coin has been damaged its price will be reduced. Similarly, bullion also plays a role in determining value – the presence of precious metals like Gold and Silver increase the price of the coins as well. The aesthetical appeal of the coin has an effect on its price as well; it makes the coin more attractive for the collector. The American Numismatic Association has a 1-70 range for assessing coins, where 70 represents a faultless coin. The Numismatic Guarantee Corporation (NGC) and the Professional Coin Grading Service (PCGS) are two organizations that go through the meticulous task of grading coins. Coins that have been certified by these reputable organizations have a higher value as their authenticity is more valid and reliable. ICG, Independent Coin Grading, and ANACS, handled by the American Numismatic Association are two other reliable grading services available.

Many people have accumulated tables of coin values which show coin collectors the values of particular coins – these tables can be built up over the course of a lifetime and can prove invaluable when establishing the coin collecting value; they give the collector the knowledge regarding which coins are worthy to be collected. There are also lists of coins worth collecting available with coins that are scarce ranked considerably higher. For example the 1909-S VDB Lincoln cent would be one of these coins. Items such as the legendary 1913 “V” nickel can be worth over 0,000. These hefty prices show why so many investors are willing to invest in coin collecting and expect high rates of return to their investments.

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