Coin Grading - What Shape Are Your Coins In
The old saying that knowledge is power is apt when it comes to dealing with coins and collectors. In order to be able to deal on an equal footing with dealers and other collectors then knowing coin grading is important.
Coin grading is like giving scores to coins that run from 1 to 70. It was taken from the 1950’s system developed by Dr. William Sheldon. Over the years that system has been expanded upon and tailored so that the earlier grading designations like Poor, Fair, Fine and so on are now combined with numbers.
The best teacher when it comes to learning coin grading is experience. So you should study a few good examples so that you can learn to grade your own coins or future coin purchases.
Before beginning you need to learn some of the terminology. In coin grading, graders refer to the face of the coin is referred to as the “obverse” and the back of the coin “reverse”. Graders look for highlights in letters or numbers, referred to as “lettering” as well as the designs on the coins, which is referred to as “devices”. Graders also look for damage to the edge or rim of the coin, which is referred to as “luster” and “wear”.
Now let’s look at some examples. In 1941 the Winged Liberty (Mercury) Dime was minted, it is 90% silver and only 10% copper and it has quite a few parts that make it an easy coin to analyze.
The first thing that you look at is the matter that it contains. You can pretty much tell if it is a fake if the test doesn’t show that it is 90% silver and 10% copper.
Now you want to look at the obverse. There will be some varying detail in the hair and the face. If the feathers that create the wing clearly show even into the background and every thing is clearly defined then you are probably looking at a coin with a Extra Fine (EF) or Un-Circulated
You may notice some slight marks or nicks that occur even on an un-circulated coin. Although a coin may be un-circulated that does not mean that it has not been bagged at one point and moved around. So when you have coins rubbing against each other in a coin bag, then you are bound to have marks except in rare instances, even when they have never been used in general currency.
Another coin that is very popular coin among collectors is the Morgan Dollar. The places that you will want to look for wear on these in the hairline just above the ear and eye. The strands should be visible and the folds in the cape should evidence only slight wear.
When looking at the faces on coins you will see no matter if it is the Jefferson Nickel, Roosevelt Dime, Kennedy Half Dollar or any others the tell-tell area is the luster of the forehead and cheek.
You should never clean a coin as this will lower the value. So the luster should not be from your cleaning it; it should be the result of low use and wear. When you clean a coin it leaves marks that can be seen on the surface with a magnifying glass and it also gives it an unnatural color and sheen.
When looking at the eagle’s breast and talons in the Morgan Dollar, they should be very well defined and the detail in the feathers and the tips of the wings should be crisp and distinct.
These are just a few of the many examples that will help the newbie to learn about coin grading. You will also realize that much of the grading is based on your own judgment of the coins. This type of grading will continue until computer software is perfected that is capable of determining the grade of coins.
It is always best to have and obtain more than one opinion when you are seeking advice from experts; and as you are develop your own ability you will be able to determine the value of the advice of others.
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