Coins are one of the most exceptional items in the world of collecting. With various ways to collect coins, the possibilities seem endless. Though some coins are more valuable than others, graded coins tend to fetch the most when it comes time for resale. But what is a graded coin? Who does the grading and how can you have coins in your collection graded? Keep reading to find out!
Coin grading is a scale system developed by Dr. William Sheldon in 1948. The system he developed, commonly referred to as the Sheldon Scale, assigns coins a grade from 1 through 70. These numeric grades assigned to the coins relate to their worth times the lowest rate. For instance, a penny in excellent mint state (i.e., flawless) would be designated “70” as opposed to a penny from the same year, mint, etc., that has been in circulation and has the scars to prove it. This heavily circulated coin would likely be graded a 1, making the flawless coin 70 times more valuable than the coin having gone through the ringer.
Coin grading is a service offered by many, but the two most respected companies in the numismatic community are the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS). The act of coin grading is conducted by a certified coin expert who diligently and meticulously looks over every last detail of the coin to determine its worth. There are five components, or criteria, the grader considers before coming to their conclusion: strike, surface preservation, luster, color, and eye appeal.
There are two means of having your coins graded, which are offered through the PCGS website. The first option is to join the Collectors Club and begin submitting directly to the PCGS. Otherwise, the second option is to locate a PCGS Authorized Dealer. For those coin enthusiasts located in the Greater Seattle Area, you will be glad to know that Bellevue Rare Coins is a PCGS authorized dealer who will be happy to grade your coins! Stop by and see us today!
Did you enjoy this read? Try Why Coin Collecting Is A Favorite Past Time
Since 1979, Bellevue Rare Coins has been a trusted, family-owned business serving the Greater Seattle Area with locations in Bellevue, Lynnwood, Issaquah, and West Seattle. Specializing in gold, silver, diamond, and jewelry purchasing, in addition to dealing in rare coins. We now offer a vast selection of fine, vintage and custom designed jewelry. Visit anyone of our four friendly locations for the best deals selling or buying.