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Probably the most controversial and
by far the most important area of coin collecting. Grading issues have caused
disputes between buyers and sellers since collecting begun and will continue to
do so for ever more.
I strive to always provide accurate
grading of all coins sold, valued and purchased and have a very good record
regarding this.
Grading coins accurately is a skill
acquired in time and after looking at many similar/identical coins in all
ranges of condition.
This page deals just with the
grading of Modern coins. (i.e coins 'milled' to a good standard) When British
coins are concerned 'Modern' is usually considered to be after 1790 (The latter
half of George III Reign). Please be aware that the guide refers to the British
Grading System. Just to confuse things, many countries have their own names in
their own languages for the various grades and these are listed in the chart
here:
World
coin grading chart.
Grading is subjective to a degree,
and very difficult to do without actually seeing the coin you want to grade,
however the following rough rules can be followed and there are pictures of
coins in the collectable grades.
Coin grades are usually referred to
as the coin's 'condition' and there are quite a range of conditions that are
usually represented by initials. The basic 'conditions' are:
Poor:
A coin that is usually barely
identifiable, often with some of the writing/date worn away. Coins in this
condition are not usually wanted by coin collectors unless very very rare, but
can still have sentimental historical value.
Fair/Good:
Click here
for an Example.
Confusingly 'Good' coins are not
really that good at all. Usually although very worn Good coins should be
identifiable with clear dates. All the writing and main designs should be
distinguishable. Like above, not usually wanted by coin collectors unless very
very rare, but can still have sentimental historical value.
Fine or just F:
Click here
for an Example.
Usually with earlier 'Milled' coins
this is the first truly collectable condition and often very good value because
sometimes there are considerable leaps in value between a Fine coin and the
next grade up. Fine coins still show considerable wear to all raised surfaces.
More detail should be visible on the designs and some of the main hair volume
should be visible on the Monarchs head. Not individual strands, but maybe a
parting or signs of head-dress. Many of the coins in your pocket even after
just 30 years or less of use could probably be described as 'Fine'
Very Fine or VF:
Click here
for an Example.
A coin with some wear to the
highest areas of the design but has seen limited circulation. More hair detail
is evident and also detail on the other designs. Just as an average guide a
coin that has been in normal circulation for approximately 5 years would
probably qualify for VF status.
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Extremely Fine or EF:
Click here
for an Example.
A coin with little sign of being
circulated. There may be only the slightest wear to the highest areas and
minimal scratches and other marks. Usually some of the mint lustre is visible
on coins of this grade. As a rough idea a coin in your change would probably be
an EF if it had been lucky and was minted just 1 year ago.
Uncirculated or UNC:
Click here
for an Example.
Like the name suggests the coin
should be as it left the mint with no signs of circulation or wear. Not
necessarily perfect though, because coins can pick up scratches and what's
known as 'bag' marks during mass production and contact with other coins at the
mint. The coin should have most of its lustre present and some dealers may
expect 100% lustre on coins stated as Uncirculated. An Uncirculated coin would
be given to you from a freshly opened bag of new coins in your change.
Brilliant Uncirculated or BU:
Click here
for an Example.
BU is not an official grade but is
often used to refer to an Uncirculated coin with full mint lustre.
Proof:
You may see a coin referred to as a
'Proof'. This is not a grade but the name given to a coin that is made using
specially prepared dies (The dies are the inverted images used to strike coins)
and often alternative metals. The flat areas of proofs often have a mirrored
finish, and you can literally see your face in them.
Update 20th June 2003.
As well as the basic grades listed
on this page, collectors will often encounter grades like 'GVF' for example.
This indicates the coin is not exactly a 'VF' (Very Fine). In fact the 'G'
stands for 'Good' so a GVF coin would be better that VF but not quite EF.
The preceding letters encountered
using the British grading system are: 'G' for Good, 'N' for Near and 'A' For
about. The range between VF and EF for example looks like this: VF, GVF, NEF,
AEF, EF.... And from F to VF looks like this: F, GF, NVF, AVF, VF.
Sometimes, mainly due to a coin
being struck with one sides design slightly higher or more complex (giving
better protection) it is possible that a coin will have less wear on the
'Heads' side than the tail (or vice versa). If this is the case you may see
some coins graded as, for example VF/NEF. This does not mean the coin is
somewhere between VF - NEF it means that the obverse (heads side) is Very Fine
and that the reverse (tails side) is Near Extremely Fine. It is usual practice
to list the obverse grade first.
This Modern coin grading Guide is
© Chris Perkins 5th January 2003.
Updated further 19th December 2005
The world grading chart:
World coin
grading chart.
Numismatic advice
hub.
Read about Pre-decimal
denominations.
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