How to Grade Gold Coins

Grading Gold Coins

• 1

  Using a photographer's loupe or magnifying glass, examine the coin's raised surfaces and rims. For a MS ("mint state") or Unc ("uncirculated") designation, there must be no blemishes, marks, or wear of any kind. To assign a numeric grade, the coin grader takes into account the luster, surface condition, and the state of the "strike," or stamping of the coin. On the numeric scale, these coins fall between MS-60 and MS-70---the highest numeric grade that can be applied to a coin.

• 2

  Look for wear on the coin's raised surfaces, and examine it for blemishes and discoloration. Circulated coins begin with the AU designation, which indicates "almost uncirculated" coins having numeric grades of AU-50 ("about uncirculated"), AU-55 ("choice about uncirculated"), and AU-58 ("very choice about uncirculated"). The more wear on the coins raised elements, the lower the numeric grade.

• 3

  Check for loss of detail, caused by more handling. EF indicates the extremely fine grade, with a minor amount of wear on the raised elements. EF-40 ("extremely fine") has relatively more wear than does EF-45 ("choice extremely fine").

• 4

  Check for major loss of detail, moderate wear, and visible cuts and nicks in the rim, the raised edge that surrounds the face of the coin. These attributes indicate VF or very fine coins, covering numeric grades of VF-20, VF-25, and VF-30.

• 5

  Examine obviously worn coins for major to complete loss of detail and the presence of a visible date. The VG or very good classification includes VG-8 ("very good") and VG-10 ("very good plus"), which require full rims. For coins with partially missing rims and worn but still visible date, AG-3 indicates "about good," and G-4 indicates "good." Following are F ("fair"), a coin with severe wear and an invisible or partially visible date, and B ("basal state"), indicating a loss of all major features.