Question to coin grading EXPERTS

ER

How can you assign a grade to a 200 year-old coin, or even older coins? How do you know what those coins look like when they were first struck?
Take the 1776 Continental Currency, for example, graded PCGS MS64. How do you know if it's not MS68? or MS62?
I'm not kidding. This actually a serious question. Thanks.

Kim

I'm not an expert, but it would seem to make sense to grade the coin based on the current condition, not on the history. We don't care what could have been, we care what is, IMO.

greghansen

Not as hard as you might imagine. First, many times prime examples of early dates exist to provide a comparison standard of excellence. Secondly, we know what type of equipment was used to produce the coins so we have reasonably good knowledge as to what type of quality could be produced under optimal conditions. We know a fair amount about planchlet preperation and metal content of the planchlets, amount of pressure utilized, etc. I'm sure there's lots more, but if you think about it, there are lots of items that provide indirect evidence of what a freshly minted coin 200 years ago would have looked like. Plus, current grading practices focus more on establishing a value range for the coin and is less concerned with assessing a precise state of preservation.

billiardmaster

ER,
To begin with, a competent serivce will have an expert in say, Continental Currency, take a look. After you have handled
enough high quality old stuff, you get a feel for what the coin is. You will even begin to learn how the mint struck coins
in any given period. The gem 1794 dollar that was just graded is a good example of knowing what your looking at. The coin
had adjustment marks, which an expert would be familar with. I have made a good rip or two buying early coins for damaged
just because the dealer never knew about the practice of the mint getting the weight right with a file. Believe me, an expert
can tell the difference.
Rusty

ER

Do you think, if we can go back in time, say to 1794, and obtain the very first 1794 $1 right after it was struck, it would be MS69 or 70?

billiardmaster

The 1794 that was just graded may have been the very first. It is MS66 if my memory serves. It may have graded higher
if not for the adjustment marks. Research gives it very good odds of being the very first.
Rusty

Nic

There is NO evidence that was the 1st 1794 struck. It's just the prettiest. K

CLASSICS

<< <i>How can you assign a grade to a 200 year-old coin, or even older coins? How do you know what those coins look like when they were first struck?
Take the 1776 Continental Currency, for example, graded PCGS MS64. How do you know if it's not MS68? or MS62?
I'm not kidding. This actually a serious question. Thanks. >>

...........because there are still some of those 200 year old coins still around today, that are in superb condition..........seek out some of the older auction catlogs, from q. david bowers, and take a very good look at some of these old timers based on what has been auctioned in the last 50 years...................i would say some were ..put away on the day they were minted, and have come from some very famous collections...........

GDJMSP

Even today - the vast majority of coins will only grade MS63 - MS65 - straight from the presses. It was little diffferent 200 years ago.

The simple truth of it is that 200 years ago very few collected coins. And the coins they did collect were at the time - just average coins. There was little if any thought given as to what the grade might be - because the concept had not even been invented. They just wanted an example of the coin - period. Rarely though a collector may have been lucky enough to get his hands on extremely fine example. And even more rarely that coin may have survived until today in its original pristine condition. That is why there are so few of them.

MrEureka

It requires no specialized knowledge to judge the state of preservation of a coin. On the other hand, it requires substantial experience to know when the however-much-less-than-perfect production quality should negatively impact the grade. For example, if I showed you a full red, spotless, markfree but pretty roughly struck Somers Island shilling, how would you grade it? If you've never seen anything better than lightly corroded XF - I haven't - it would be pure guesswork picking a grade between 62RD and 66RD.