How do you grade a coin ?
JRocco
Posts: 14,277 ✭✭✭✭✭
I consider myself a seasoned collector and I believe I have learned through the years how to grade a coin.
I still look at a slabbed coin and almost always look it over and grade it myself. Some series I always question
myself because I do not actively collect the series and haven't really studied the characteristics of the coins strike.
I want to know the coins high points and design flaws that may lead to a weak strike as opposed to wear for example.
Other series I trust my grading and sometimes it differs from a TPG's opinion. I do not look at a coin and say oh it's a
53 because the label says so.
When I was a kid and just learning I had a good mentor who was willing to always help out and I
asked him how he grades coins so quickly and so accurately. To this day I follow what he taught me
so many years ago.
This is my usual pattern and I would really like to know how many of you look at a coin and what your thought process is.
I first look at a coin overall and get a general feel for the coin. Obverse then reverse.
Is it uncirculated ? Is it almost uncirculated ? Is it extremely fine, fine, good etc. Just a first gut feel. Does it look right ? Should take 2-3 seconds. Next place I ALWAYS look is the rims. The rims tell you a lot about how much the coin has been through. Another couple of seconds. Then I start to zero in on the focal points, usually the face, neck etc. Then the fields. Another 5 seconds. Look to see if there are lines or major hits or funky colors at this point. First obverse then reverse. You should be within 1-2 grades at this point. Say between a 55 and a 58 for example.
If the coin still interests you at this point you can really zero in on points of interest or points of concern.
You should be there at this point.
If I want to buy the coin and it is a decent investment I will take out the loop and see whatever it is I want to see on the particular coin. If I am comfortable with the coin an offer is made and the coin is either mine or a placeholder for the seller.
And I have to always remind myself I might really want the coin but I am not in love with it so look at it objectively.
Remember your first gut feeling when you saw the coin and remember that the seller wants to sell the coin.
Do you do things differently ? If so please share.
Comments
Pretty much like you. A quick once-over, then hone in on particular parts. If I really like the coin, I make sure to look for more flaws so I’m not blinded by luster and miss a giant gash or something.
I usually try to get a handle on the quality of the coin before I even think about the numerical grade. And sometimes, I'll buy a coin, raw or slabbed, and never even think about the numerical grade, even after owning it for years. Sounds crazy, but it works for me.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I remember when you graded a coin as just XF or VF or AU or BU or Gem etc. But numbers have been attached as the normal for quite a while now.
Pretty much what you do but I always tilt the coin and rotate it.
Great point !
No better way to see those fine lines and luster rays
I also tilt and rotate after a first impression. I take strike into account, too.
@JRocco .... As I read your post, it was as if I had written it - not the exact words, but the process for sure. I have never purchased a slabbed coin based on the label. Some slabbed coins I have purchased actually - IMO - did not measure up to the label grade, but they appealed to me with certain characteristics. Grading is an opinion, and personal preferences will influence that opinion. Actual condition (wear, dings, rim condition) are certainly important. Cheers, RickO