Don’t lose out like I did. Figure out how quality scoring or “coin grading” works before you start buying. I bought a few pieces over market value at the beginning and felt so silly once I knew what I was doing. Oh well, lesson learned.
As you can see, knowing coin grades is really the only way to shop in this industry. When you know what a good quality coin is versus a bad one, you can look up accurate pricing. Saving you a lot of coins! Here’s a beginner’s breakdown on the whys and hows of coin grading.
Simply Put, Coin Grades Determine the Value of a Coin!
If you want to be able to explain it to your friend in simple terms, coin grades help decide how close the coin is to its original minting. If it’s been through a lot of wear and tear it will score low on the grading scales. However, if it’s been protected across the years it could be very valuable.
Here’s a few simple explanations of the terms you’ll hear when a professional is grading a coin:
- What the coin’s “strike quality” is: The word strike refers to when the coin was originally minted (or striked). The closer it is to its original condition, the more money it will be worth.
- If its “surface preservation” is intact: When a pro grader is discussing this, they’re referring to any damages they see. Could be nicks, scratches, or other wear and tear.
- Does the coin have any “luster” left: A coin that’s been freshly minted has a type of shine to it, or luster. The more it’s been touched and moved around that sheen starts to disappear.
Learn the Basics of Grading Online and Studying Grading Standards
To really know what to look for when you’re grading a coin, I would suggest studying the different grading scales. You’ve got Sheldon and A.N.A. grading scales that are used pretty regularly. After you understand what factors are considered, you’ll be able to pick out the perfect coins for yourself. You can easily find these helpful resources online.
Depend on Your “Coin Network” for Second Opinions and Guidance
One thing I always do is reach out to my friend in the coin game. People who I’ve met over the years with more experience have really helped me find and avoid some epic win coins, and epic fails. I’ve met these people at auctions or local meet ups, and we’ve stayed connected over the years. You can also find some trusty people on numismatic forums online. Simply search for the coin you’re looking for and add “thread” or “forum” after it.
Grading Will Make or Break a Coin
Now you know why coin grades can make or break whether you’ve won on purchasing a collector’s piece. Plus, high grade coins are so beautiful to look at. Being able to see the details and why a coin is valued a certain way really brings a sweet appreciation to the numismatic game.
