[IndianCoins] Grading of Coins Guide Must Read

[heavenz.com]

You normally don't have to worry about grading coins. Grading becomes important only when you start buying and selling, but if you buy or sell face-to-face, grading is not important either. Buyer and seller don't have to agree on condition. They have to agree on price. It is irrelevant and sometimes counterproductive to argue over condition. Conditions are useful only when you can't see the coin, e.g. if you are buying from a mail bid sale or a fixed price list.

Condition depends on wear. To be a good grader, you have to know where wear first occurs: the highest points of the coin. Often these are the band of a crown (especially the jewels), hairline, eyebrows, feathers of birds, fur of animals. The main conditions are:

Uncirculated (UNC) describes a coin as it left the Mint. The metal has its original colour and there is no wear. Sometimes, coins are weakly struck, which looks like wear. This should be described separately. Minted coins are collected and transported in containers. Small scratches (bag marks) therefore appear on the field. This is acceptable for an unc coin.

Extremely fine (EF, in the US XF) wear is noticeable only when looking at the coin from close by. On portraits some wear of facial hair. On most of the coin's surface the original metal colour is still visible.

Very fine (VF) wear is obvious, but the general design of the coin is still clear and detailed. On portraits visible wear on cheekbones, details of hair fairly incomplete on the highest point.

Fine (F) a worn coin, but some detail remains. Portraits are more than silhouettes.

Very Good (VG) no detail remaining. Portraits are slhouettes.

Good (G) silhouettes are incomplete on some points. An ugly coin. Often not collectible.

Fair coin can only be identified with difficulty. Major parts of design gone.

Intermediate grades come in two flavours. Condition may be detailed with a plus or minus sign (e.g. UNC- or VF+; in the US an A is added in stead of a minus: AUNC). Alternatively, a coin may be described as in between grades (VF-EF). The other intermediate grade is when obverse and reverse have a different grade. This is indicated with a slash (VF/EF). As grades are very subjective anyway, the added value of intermediate grade is limited and often doubtful.

Sometimes, minting techniques are confused with grades. They are:

Circulation strike: coins struck with the normal procedures

Brilliant Uncirculated: (BU) as unc, but without bag marks because the coins were collected separately. Today, this is often done for collector's sets

Prooflike: as BU, but struck at lower speed and with more force, giving a very shiny image. Sometimes, the first coins struck with new dies will appear as prooflike.

Proof: as prooflike, but struck with polished die. The result is a matte design on a shiny field.
A proof coin is normally UNC, but if it is mishandled it can be EF proof.
Coins do not advance in condition. They do deteriorate from abuse. Some major forms of abuse are:
- fingerprints. allways hold coins by the edge. Wipe off prints immediately. The acid on your hands (even when just washed) will eat into the metal.
- plastic softener. Found in old plastic coin holders. Coins become "misty" or a green slime develops. Wipe off and stick coin elsewhere
- falling and bumping. Just don't drop coins.
- polishing, especially with silver polish. Destroys natural patina
- cleaning with acid. May be a last resort for coins found with a metal detector, but in general to be avoided.

While many proof coins have the characteristics mentioned above, this is by no means always the case.

Matte proofs, the primary example being those issued in the 

UK 1902 proof set, have a uniformly matte appearance, as in this example:

 During the 1970's most UK proofs have a shiny appearance over the design as well as the field:

Proof coins are struck at least twice with abnormally high pressure using specially prepared dies on polished blanks.  As a result the edges are often noticeably sharp compared with the normal mass-produced circulation coins.

Source

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Posted By heavenz.com to IndianCoins at 11/29/2011 10:32:00 AM