Things You'll Need
Instructions
Hold the coin in your hand and look at it under a bright light. Form an impression of the general eye appeal and preservation of the dollar. Some coin dealers call this "getting in the ballpark."
Look at the eagle side of the coin. Find the mint mark under the eagle, approximately between the "D" and the "O" of the phrase "One Dollar." If you can read the mint mark without magnification the coin is at least "Fine." If you cannot, an appraiser would probably rate the coin either "Very Good," "Good" or "About Good."
Look at the eagle's wings and tail. If you see all the feathers in detail, the coin is at least "Very Fine."
Examine the eagle's wingtip for wear using a loupe or magnifying glass. Look at the detail of the feathers on the eagle's chest and head. If you can see these details, the coin may be graded "Extra Fine."
Flip the coin over and look at Lady Liberty's hair. Use magnification as necessary. If the hairline and all hair looks sharp and detail is visible where the hair joins Liberty's ear, the coin may be graded "About Uncirculated."
Look at both sides of the coin under magnification. Try to find defects and wear. If all the defects you find are small blemishes called "bag marks," then the coin is probably "Bank/Brilliant Uncirculated" or "Mint" grade. Finer quality coins without bag marks and with high luster are graded as "Proof" and are very rare.