Coins - Currency - Cards

There are several organizations that oversee the grading of Sports Cards, Currency and Coins. NGC/PMG, PCGS & CGC are the leading graders of coins and currency in the world while PSA is the leading sports card grader. There are dozens of Graders worldwide but generally their techniques are not widely accepted in each perspective hobby.  

Coins

Grading is a way of determining the physical condition of a coin. Grades range from Poor (almost completely worn out) to Perfect Uncirculated (a Coin with absolutely no wear and no flaws of any kind). Over 99.9% of all coins fall
somewhere between these two extremes. 

The grade is a sort of "shorthand" for describing the condition of a coin. With
experience and the aid of the appropriate books, many people can learn to grade with a moderate degree of accuracy. Few people, however, can ever learn to grade with the precision required to become a professional. The grade of a coin goes a long way in determining the coin's value, and sometimes a seemingly insignificant and easily overlooked flaw can make thousands of dollars of difference. 

Coins that have been properly stored since the day they were minted-- i.e., made-- are called "uncirculated" or "mint state." If a coin saw circulation for a short time but still looks nearly brand new, it is called (or graded) "About Uncirculated." After that, the grades in descending order are: 

Extremely Fine -- Very Fine -- Fine -- Very Good -- Good -- About Good -- Fair Poor.

Uncirculated Currency and Coins have different grades as well, depending on how carefully each specimen was made, handled, and stored. Some uncirculated items have imperfections caused by contact or poor handling during minting or storage. Other material is free of such distractions. The Rarity in the best state of preservation will almost always have the greatest value.  

 

Abbreviations for Coin or Paper Grades
MS-65 to 70	Gem Uncirculated	Superb GEM Unc.	65-70
MS-60 to 64	Uncirculated	Choice Unc. or Ch/Gem	Unc. 60-64
AU-58	Very Choice About Uncirculated	V. CH. Abt. Unc.	AU-58
AU-55	Choice About Uncirculated	Ch. Abt. Unc.	Ch. AU
AU-50	About Uncirculated	Abt. Unc.	AU
EF-45	Choice Extremely Fine	Ch. Ex. Fine	Ch. EF
EF-40	Extremely Fine	Ex. Fine	EF
VF-30	Choice Very Fine	Ch. V. Fine Ch.	Ch. VF
VF-20	Very Fine	V. Fine	VF
F-12	Fine	Fine	F
VG-8	Very Good	V. Good	VG
G-4	Good	Good	G
AG-3	About Good	Good Abt.	Good AG

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Currency

The condition of a note is critical to its value and enjoyment to the owner. Thus, accurate & proper grading of every piece in your collection is extremely important. Here is a general guideline (or outline) to help you get started!

Gem or Superb Gem 
This means absolutely not the slightest sign of any handling or wear or folding or *anything*. A perfectly preserved note, never mishandled by the issuing authority, a bank teller, the public or a collector. The paper should be clean and firm, without discoloration. Corners are sharp and square, without any evidence of rounding. The note should also have its natural sheen. 

Uncirculated or Choice Uncirculated 
Features no trace of circulation but can have centering issues, pin holes, counting smudges, wrinkles, close margins or even a corner tip fold so long as it's not into the design. A Choice Uncirculated note is very nice but not quite gem. Centering may be just a tad off. May show some aging or light counting smudges or wrinkles. 

About Uncirculated, (AU)
This means there is a slightly detectable imperfection such as a counting fold on one corner into the design or slightest fold in the center (nothing which breaks the surface of the paper). May show evidence of bank counting folds at a corner or one light fold through the center, but not both. Paper is clean and bright with the original sheen. Corners are not all rounded.

Extremely Fine, (EF or XF) 
Very attractive note, with light handling. May have a maximum of three light folds or one strong crease. Paper is clean and bright with original sheen. Corners may show only the slightest evidence of rounding. There may also be the slightest sign of wear where a fold meets the edge. 

Very Fine, (VF)
Very attractive note, but with more evidence of handling and wear. May have a number of folds both vertically and horizontally. Paper may have minimal dirt, or possible color smudging. Paper itself is relatively crisp and not floppy. There are no tears into the border area, although the edges do show slight wear. Corners also show wear but not full rounding.

Fine, (F)
A note which shows considerable circulation, with many folds, creases and wrinkling. Paper is not excessively dirty but may have some softness. Edges may show much handling, with minor tears in the border area. Tears may not extend into the design. There will be no center hole because of excessive folding. Colors are clear but not very bright. A staple hole or two would not be considered unusual wear in a Fine note. Overall appearance is still on the desirable side.  

Vey Good, (VG)
A well-used note, abused but still intact. Corners may have much wear and rounding, tiny nicks, tears may extend into the design, some discoloration may be present, staining may have occurred, and a small hole may be seen at center from excessive folding. Staple and pinholes are usually present, and the note itself is quite limp but no pieces of the note are missing. A note is VG condition may still have an overall unattractive appearance.

Good, (G) 
A well-worn and heavily used note. Normal damage from prolonged circulation will include strong multiple folds and creases, stains, pinholes and/or staple holes, dirt, discoloration, edge tears, center hole, rounded corners and an overall unattractive appearance. No large pieces of the note may be missing. Graffiti is commonly seen on notes in G condition.  

Fair, (F)
A totally limp, dirty, and very well used note. Large pieces may be half torn off or missing besides the defects mentioned under the Good category. Tears will be larger, obscured portions of the note will be bigger.

Poor, (P)
A "rag" with severe damage because of wear, staining, pieces missing, graffiti, larger holes. May have tape holding pieces of the note together. Trimming may have taken place to remove rough/edges.   

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Sport Cards

The PSA 10-point grading standard sets the criteria by which each and every card submitted to PSA is graded.

When you buy a PSA graded card, you can be rest assured that you are
getting the best grading consistency known to the hobby. All cards graded by PSA are evaluated on a tested standard, recognized and accepted by many of the sports card industry's leading dealers.

Below are PSA's grades with explanations.


GEM-MT 10: Gem Mint 

A Gem Mint 10 card is virtually free from any physical defects. Attributes include four perfectly sharp corners, sharp focus, and full original gloss. A Gem Mint 10 card must be free of staining of any kind, but an allowance may be made for a slight printing imperfection, if it doesn't impair the overall appeal of the card. The image must be centered on the card within a tolerance not to exceed approximately 55/45 to 60/40 percent on the front, and 75/25 percent on the reverse.

MINT 9: Mint

Appears to exhibit all the attributes of a Gem Mint 10 card but upon closer examination will exhibit one of the following minor flaws: a very slight wax stain on reverse, a minor printing imperfection or slightly off-white borders. Centering must be approximately 60/40 to 65/35 or better on the front and 90/10 or better on the reverse.

NM-MT 8: Near Mint-Mint

This card appears Mint 9 at first glance. But upon closer inspection, the card can exhibit the following: A very slight wax stain on reverse, slightest fraying at one or two corners, a minor printing imperfection, and/or slightly off-white borders. Centering must be approximately 65/35 to 70/30 or better on the front and 90/10 or better on the reverse.

NM 7: Near Mint 

Slight surface wear is visible upon close inspection. There may be slight fraying on some corners. Picture focus may be slightly out-of-register. A minor printing blemish is acceptable. Slight wax staining is acceptable on the back of the card only. Most of the original gloss is retained. Centering must be approximately 70/30 to 75/25 or better on the front and 90/10 or better on the back.

EX-MT 6: Excellent-Mint

Card may have visible surface wear or a printing defect, which does not detract from its overall appeal. A very light scratch may be detected only upon close inspection. Corners may have slightly graduated fraying. Picture focus may be slightly out-of-register. Card may show some loss of original gloss, may have minor wax stain on reverse, may exhibit very slight notching on edges and may also show some off-whiteness on borders. Centering must be 80/20 or better on the front and 90/10 or better on the reverse.

EX 5: Excellent

Very minor rounding of corners is becoming evident. Surface wear or printing defects are more visible. There may be minor chipping on edges. Loss of original gloss will be more apparent. Focus of picture may be slightly out-of-register. Several light scratches may be visible upon close inspection, but do not detract from the appeal of the card. Card may show some off-whiteness of borders. Centering must be 85/15 or better on the front and 90/10 or better on the back.

VG-EX 4: Very Good-Excellent

Corners may be slightly rounded. Surface wear is noticeable but modest. May have light scuffing or light scratches. Some original gloss will be retained. Borders may be slightly off-white. A light crease may be visible. Centering must be 85/15 or better on the front and 90/10 or better on the back.

VG 3: Very Good 

Rounding of corners will be evident, though not extreme. Some surface wear will be apparent, along with possible light scuffing or light scratches. Focus may be somewhat off-register and edges may exhibit noticeable wear. Much, but not all, of the card's original gloss will be lost. Borders may be somewhat yellowed and/or discolored. A crease may be visible. Printing defects are possible. Slight stain may show on obverse and wax staining on reverse may be more prominent. Centering must be 90/10 or better on the front and back.

GOOD 2: Good 

Corners show accelerated rounding and surface wear is starting to become obvious. A good card may have scratching, scuffing, light staining, or chipping of enamel on obverse. There may be several creases. Original gloss may be completely absent. Card may show considerable discoloration. Centering must be 90/10 or better on the front and back.

 PR-FR 1: Poor to Fair

Corners will show extreme wear, possibly affecting framing of picture. Surface of card will show advanced stages of wear, including scuffing, scratching, pitting, chipping and staining. Picture will possibly be quite out-of-register and borders may have become brown and dirty. May have one or more heavy creases. A Poor card may be missing one or more small pieces, have major creasing and extreme discoloration or dirtiness throughout. Card may show noticeable warping. Centering must be 90/10 or better on the front and back.

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