Coin Grading Explained
Coin Grading Explained (1)
DETERMINING THE COINS MARKET VALUE
To put it simply, the grade of the coin will determine the coins market value.
When numismatists grade coins, they are assigned a numeric value on the Sheldon Scale. The Sheldon Scale ranges from a grade of Poor (P-1) to Perfect Mint State (MS-70).
The Sheldon Scale, according to the Professional Coin Grading Service (PCGS), is a numeric grading scale ranging from 1 through 70. Based on the theory developed by Dr. William Sheldon, the famous numismatist, in 1948, a coin assigned the highest “Mint State” (MS) grade of MS-70 would be worth 70 times more than a coin graded as a 1. A coin graded MS-70 shows no post-production flaws or imperfections even at 5x magnification.
When grading coins there are three types …
- Circulated – scaled at 1-49
- About Uncirculated – scaled at AU-50 through AU-59
- Uncirculated – scaled at MS60-MS70
Ultimately, all of these kinds of coins are of interest to coin collectors and numismatists. The kind and level of interest varies depending on the unique features each individual seeks in a coin. Uncirculated coins and mint state coins are more aesthetically appealing due to the pristine condition, and it is often the case that the higher the grade of the coin, the higher the value.
However, many collectors seek circulation coins that are rare because of errors made during the minting process. The scarcity of the coin creates the excitement of a kind of pocket-change treasure hunt!
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