The ability to grade is based on how many coins you have viewed as a hobbyist and how many numismatic books you have read and educational websites you have visited. In other words, it takes time and experience as well as equipment and resources. No single article, including this one, can train you to master the basics below.
But this article will get you started with the basics.
Learn the Sheldon 1-70 scale on which coins are graded, establishing value. Here are designations: Poor (Po 1), Fair (Fr 2), About Good (AG 3), Good (G 4), Very Good (VG 8-10), Fine (F 12, Very Fine (VF 20-35), Extra/Extremely Fine (EF or XF 40-45), Almost Uncirculated (AU 50-58), Uncirculated/Brilliant Uncirculated (UNC 60-70).
Know numismatic terms (see this glossary) so that you can identify flaws, cleaning, condition rarities, varieties, errors and more. If a coin is dipped, for instance, or has machine doubling, it is not worth grading with a reputable holdering company (more on that later).
Know the various coin designations (see this post) so that you can identify full steps in nickels, full bands in dimes, full head in standing quarters, full bell lines in Franklin halves, and so on. Otherwise you will err when it comes to strike and value.
Bone up on counterfeit coins because so many of these are polluting the hobby market. Read this post and visit Jack Young’s fun with fakes Facebook site.
Start by grading a large coin with generous fields and well-defined devices, such as the Morgan dollar. This is the best beginner grader coin because of the prominent cheek of Lady Liberty on the obverse and eagle breast feathers on the reverse.
PCGS uses the Morgan dollar to illustrate grades and conditions.
Purchase a coin scale and a loupe to detect counterfeits, polish lines, hairlines, bag marks and other conditions and defects. Coin microscopes are not very useful. You have to train your eyes, not compensate for them. After you have achieved some expertise in the hobby, consider a microscope for some varieties and errors.
Compare your coin with the various grades for each denomination as found on the PCGS Photograde website. The process of comparison sharpens your eye and deepens your knowledge.
Invest in a coin grading library, purchasing best-selling books like Official ANA Grading Standards for United States Coins Hardcover by Kenneth Bressett, The Official Guide to Coin Grading and Counterfeit Detection by John Dannreuther and Scott A. Travers, and Photograde: Official Photographic Grading Guide for United States Coins by James F. Ruddy.
Set up your own coin grading room where you can work undisturbed by humans, phones, pets and other distractions.
Invest in lighting. Fluorescent lights are useful if you are inspecting luster and high points of coins. This type of lighting is soft, but works well if you’re using a loupe. In general, many numismatists use a 100W bulb for uncirculated and circulated business strike coins and a 75W bulb for prooflike and proof coins. You can also purchase a LED desk with dimming and brightening levels. Some have USB charging ports and touch control features.
Wear gloves when you handle coins. If you don’t have any handy, grasp coins by the edges so that the oils of your fingers do not taint the fields and devices.
Grade from edges inward. Start the grading process by looking at the edges and rims to make sure there are no dents, bumps or defects. Then in a clockwise motion begin your inspection on the outer fields and gradually go inward toward the center of your coin. Do the same on both sides noting wear, hairlines, bag marks, cleaning, defects and other conditions that affect the value of a coin.
Learn what makes coins valuable (see this article). Join a local or online coin club. Visit Facebook coin groups where experts share their numismatic knowledge.
Choose a reputable holdering company, such as PCGS, NGC, CAC, ANACS and send a submission, realizing that you’re likely paying $40 or more for each coin, after fees, mailing and membership dues. Consult auction values (not retail ones) on PCGS CoinFacts and decide whether the cost is reasonable.
Do not buy AI-powered coin grading apps like CoinSnap. These are unreliable and often inflate prices for face value coins.
Anticipate grading miscalculations. This skill takes time. We all believe our coins are better than they actually are. That’s why third-party grading is important.
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You can find more information about types, varieties, errors, grading, bidding and buying in Coin News Updated: The Essential Guide to Online Bidding. Please consider buying or gifting the work for a friend, as it underwrites this hobbyist blog. Thank you.
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