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Learning to grade

Started by ducky-migration,

21 posts in this topic

DaveG

DaveG

Posted
Posted

Welcome!

 

First off, let me say that looks like a nice Lincoln!

 

Unfortunately, it's very hard to grade a coin from an image - not that people don't try.

 

Even if the coin is circulated, an image won't show if the coin has been cleaned. It's also very hard to tell the difference between a high-end About Uncirculated coin and an Uncirculated coin from an image.

 

If this cent is typical of the coins you want to grade, you might want to get a copy of the PCGS grading guide (The Official Guide to Coin Grading and Counterfeit Detection) - make sure you get the out-of-print first edition (which is 8" x 11 1/2") and has big pictures on glossy paper.

 

For circulated coins, you might want to get a copy of Photograde or the ANA Grading guide.

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DaveG

DaveG

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Yes, bag marks (from contact with other coins), luster and quality of strike are all factors in assigning a grade to an uncirculated coin.

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ducky-migration

ducky-migration

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I have no doubt that the coin is circulated simply by how I obtained it. I already have a copy of the first book you mentioned (not the big edition however). How would one be able to determine if a coin has been cleaned?

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MunkyMan95

MunkyMan95

Posted
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That nickel is just a nickel. Buffalo, 1937-S. Pretty common if you ask me, and in about VG shape I'd say.

 

 

Actually, it's kinda nice to see some nice circulated coins once in a while.

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DaveG

DaveG

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I'd say that your Buffalo nickel would grade "Fine."

 

As for "cleaning" - that usually means two things: exposure to an abrasive (such as silver polish, toothpaste, pencil eraser, even a soft cloth) or a chemical (such as a weak acid [vinegar] or a variety of other things).

 

Abrasive cleaning usually leaves behind a series of fine, parallel scratches or it completely removes the coin's original surface layer. Chemical cleaning usually results in the removal of the coin's original surface layer and leaves the coin looking the "wrong" color.

 

For example, if you take a pre-1982 copper cent and soak it in vinegar for a couple of hours, the coin will turn an odd shade of pink.

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James_OldeTowne

James_OldeTowne

Posted
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Ignoring color attributions (RD, BN, etc), I would say MS-63 (and a really nice image, by the way). The nicks on Lincoln's beard and shoulder automatically limit the grade to no better than MS-63 - MS-64 if you really push it. However, to get a lower grade, there would have to be something really wrong. In other words, what you have is an average, typical UNC Lincoln cent, and MS-63 = "average UNC".

 

Oh, and Welcome to our friendly little neighborhood!

 

James

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James_OldeTowne

James_OldeTowne

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The 1951-D might grade more of an MS-64, again ignoring color (which looks RB). There are far fewer bagmarks on Lincoln's portrait, and the fields look clean. The luster seems very average, however, so there's no compelling reason to grade this coin higher than MS-64.

 

James

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James_OldeTowne

James_OldeTowne

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For a later-date Buffalo like this, it would only grade about Fine-12, because there's only 2/3 of the horn detail apparent, and this date is not particularly poorly struck in general. The large flat area of the Indian's hair and the flatness of the braid also indicate a "Fine" level.

 

Guess I should have addressed all four coins in one post!

 

James

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ducky-migration

ducky-migration

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Wow thanks James, I really appreciate the feedback. I see many coins that appear to be of a very high quality but not really sure.

 

Would I be correct in presuming that if the average book value of a coin (based on my own grading) is less than the cost to have it graded (NGC) I should not send it in?

 

Cheers!

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Bruceswar

Bruceswar

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Posted
Wow thanks James, I really appreciate the feedback. I see many coins that appear to be of a very high quality but not really sure.

 

Would I be correct in presuming that if the average book value of a coin (based on my own grading) is less than the cost to have it graded (NGC) I should not send it in?

 

Cheers!

 

100% correct. Stick around! I think you will like it here.

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James_OldeTowne

James_OldeTowne

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((( if the average book value of a coin (based on my own grading) is less than the cost to have it graded (NGC) I should not send it in? )))

 

When all is said and done, it costs around $25 per coin for certification, discounts and specials notwithstanding. That's adding in the costs of resubmissions, your time, and the annoyance of being separated from your coins, etc. So for me, the threshold for certification is more of a set number, say $300 or so. That is to say, I wouldn't bother certifying a coin unless it's worth at the very least, $300, and really for me personally, $500 is more like the right threshold.

 

In coins, few things are more ridiculous than to see a $50 coin in a holder that costs $25 bucks. The instant you buy such a coin, you lose one-half of your money! Why would anyone want to throw away half their money?

 

If you buy a certified coin at $250, then you are still losing 10%, which any accountant will tell you is a very poor return. So at $500, I'm only losing 5% - still not great, but much, much better than losing one-half of my net worth.

 

So in short, I wouldn't submit a coin that's only worth $25 - the cost of submission. Save those grading fees to buy more coins. Coins are MUCH more fun to own than "plastic" smile.gif!

 

James

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