RARE COIN GRADING

Understanding Rare Coin Grading: Focusing on NGC and PCGS Standards

Coin grading is an essential aspect of numismatics, providing a standardized way to evaluate a coin's physical condition. This article focuses on the grading scales used by the two most renowned coin grading services: the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS).

NGC Grading Scale

The NGC utilizes the Sheldon grading scale, ranging from 1 to 70, where higher numbers indicate better condition. Key points in the NGC scale include:

  • Mint State (MS) / Proof (PF) 60-70: Coins with no wear, varying from

  • Mint State (MS) / Proof (PF) 60-70: Coins with no wear, varying from having numerous abrasions and hairlines (MS/PF 60) to having no post-production imperfections at 5x magnification (MS/PF 70).

  • About Uncirculated (AU) 50-58: These coins show slight wear on the highest points of the design, with varying degrees of detail preservation within this range.

  • Extremely Fine (XF or EF) 40-45: Coins exhibit complete details with minor wear on some high points.

  • Very Fine (VF) 20-35: Coins in this category have moderate wear on high points but maintain most major details.

  • Fine (F) 12-15: The coin's major details are worn, yet the overall design remains clear.

  • Very Good (VG) 8-10: Major design elements are worn, but the coin's main features are discernible.

  • Good (G) 4-6: Coins show heavy wear, but major designs and lettering are visible.

  • About Good (AG) 3: Heavily worn designs with parts of the lettering and major features barely visible.

  • Fair (FR) 2: Most details worn flat, but type and date still recognizable.

  • Poor (PO) 1: Identifiable by type and date with little other discernible detail.

PCGS Grading Standards

PCGS also uses a similar grading scale, emphasizing the state of preservation and quality of the coin. Their grading system aligns closely with NGC's, ensuring consistency across the numismatic industry. Coins graded by PCGS are highly respected in the market for their accuracy and reliability.

Special Designations and Details Grades

Both NGC and PCGS employ special designations to highlight unique attributes of coins, such as exceptional eye appeal or specific strike characteristics. NGC, for instance, uses the Plus (+) and Star (★) designations for coins at the high end of their grade or with exceptional eye appeal.

Coins with surface problems that preclude a numeric grade are eligible for an NGC Details grade. These coins are graded with an adjectival description, such as VF DETAILS, followed by the primary surface problem, for instance, "REV GRAFFITI."

Importance in Numismatics

Grading by NGC and PCGS is crucial in determining a coin's market value. Higher-graded coins typically command higher prices. Collectors and investors prefer coins graded by these two services due to their established reputation for consistency and accuracy in grading.

For more in-depth information on NGC's grading scale and standards, you can visit their Coin Grading Guide.