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Coin grading is the process of assessing the condition of a coin and assigning it a numerical grade. The higher the grade, the more valuable the coin will likely be. Several factors determine a coin's grade, including its overall condition.
For many collectors, the grading process is a way to ensure that their collection is valuable and worth protecting. By assigning a grade to each coin, collectors can more easily keep track of their collection's worth. Additionally, some insurance companies may require that collections be graded to be adequately insured.
If you think your coin collection might be valuable or want to protect your coins better, then coin grading may be right for you. A professional coin grader can provide you with an accurate assessment of your coins' condition and assigned value.
There are a few different ways to get your coins graded. You can send them off to one of the primary coin grading services, such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC). These companies will grade your coins and assign them a numerical score on their 70-point scale. Alternatively, you could take your coins to a local coin dealer or collector who can give you an informal assessment.
If you decide to go the professional route, I want you to know there will be a service fee. The exact cost will vary depending on the company and how many coins you need to have graded. In general, it is recommended that you only have your most valuable coins professionally graded.
There are a few different companies that grade coins in the USA. The PCGS and the Numismatic Guaranty Corporation (NGC) are the most popular and well-known companies. They will get your coin graded quickly and efficiently.
Other companies that grade coins include the American Numismatic Association Certification Service (ANACS), Independent Coin Graders (ICG), and Collectors Universe. Each of these companies has its grading system, so it's essential to research before sending your coins off to be graded.
As I mentioned, there is a fee associated with coin grading. The cost of grading will depend on the company and how many coins you need to have graded.
For example, NGC's cost of grading starts at $25 per coin for their regular service. At the same time, The Professional Coin Grading Service (PCGS) charges $35 grading costs per coin. The cost can add up if you have a large collection or need to have your coins graded quickly.
Also, I'd like to point out that not all coins are created equal. Some types of coins are more valuable than others. Most major coin grading firms charge more based on the coin's value; where the market value is higher, charges might go up to cover such things as shipping fees and insurance.
As such, the grading fee will likely be higher for these more valuable coins.
There are a few reasons why you might choose PCGS or NGC over other companies. First, PCGS and NGC are the world's most well-known and respected coin-grading companies. They have decades of experience in the industry, and their graders are highly trained and experienced.
Second, PCGS and NGC use a 70-point scale to grade coins. This is the most common grading scale in the USA, allowing for more granularity when determining a coin's condition. Additionally, PCGS and NGC both offer a wide range of services, from simple coin grading to authentication and encapsulation.
Finally, PCGS and NGC both have a good reputation for customer service. If you ever have any problems with your order or you're not satisfied with the results.
There are a variety of different coin grades, and each one corresponds to a different level of condition. As a result of using coin grading services as a third-party grading service like PGCS, your coins will end up with a grade in one of the grades listed below.
Mint State (MS) – A coin in perfect condition when it left the mint.
Uncirculated (UNC) – A coin that was never put into circulation. These coins will show little to no wear.
About Uncirculated (AU) – A coin with only slight wear from being in circulation. These coins will retain most of their original luster.
Extremely Fine (EF or XF) – A coin with light wear from being in circulation. These coins will have some loss of luster, but all major features will be visible.
Fine (F) – A coin with moderate wear from being in circulation. These coins will have major features that are visible, but there will be some loss of detail.
Very Good (VG) – A coin with heavy wear from being in circulation. These coins will have major visible features, but there will be a significant loss of detail.
Good (G) – A coin with very heavy wear from being in circulation. These coins will have major visible features, but most other details will be worn away.
Fair – A heavily worn coin, and only the basic outline of the design is visible. These coins are typically only collected for their historical value and not for their appearance.
Poor – A coin that is so heavily worn that barely any of the original design is visible. These coins are typically only collected for their historical value and not for their appearance.
Many factors affect a coin's value, and the decision to have it a coin graded is ultimately up to the coin collector. However, some guidelines can be followed to help make this decision. Generally, coins that are rare or in extremely good condition are the best candidates for coin grading.
Additionally, coins previously graded and with a high grade may be worth re-submitting for a higher grade. Ultimately, the decision to grade a coin is up to the collector and should be based on what is best for the individual collection.
When coin collecting having a large number of coins graded in your collection can vastly increase the value of the overall collection of coins. Certainly, always have a rare coin graded, especially if the coin is rare and the coin's condition is very good.
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