Grading of Coins

Below I have listed a brief summary of how we grade our coins. After 49 years in the business, we sure hope we know what we are doing. On hammered coins and some other issues, a knowledge of how the coins were struck is important.

Poor: almost all the detail is gone, there will be nicks and scratches, but enough of the coin will show to be identifiable.

Fair: most of the detail is worn off but more will show then on a Poor coin.

Good: lots of honest wear, but almost all the outline will be readable.

Very Good: the outline of the design starts to fill in and everything is still there even if it is very worn.

Fine: more of the fine detail starts to show, a nice collectable coin.

Very Fine: wear on the high points and most if not all the detail is getting sharper, a difficult grade to find in most cases. Under appreciated grade.

Extremely Fine: wear only on the highest points and usually you have to look closely to see the wear. On some coins there will still be some original lustre in the lettering. A very attractive grade.

Uncirculated: no wear on the coin. But because of the way that is was struck and transported from the Mint, there maybe bag marks and some little other marks on the coin. On larger coins there maybe edge nicks.

Choice Uncirculated: no wear and a superior striking full lustre on silver and much lustre on copper or bronze.

Gem Uncirculated: the highest grade of a circulating coin. I estimate that less than 1% of the older coins exist in Choice Uncirculated condition.

Prooflike: An Uncirculated coin that shows surfaces that are somewhat similar to a Proof. Sometimes in early coins they are struck from a Proof die, but the flan is not polished.

Proof: a specially struck coin where the flan or planchet is polished as is the die. A mirror like surface with brilliance. Older silver coins may have toned down. On older coins, Proof is a method of striking and not a condition. So a William III Proof may only be in Fine condition, but because of the way that it was struck, you can still tell that it is a Proof.