These pages are provided as an educational and reference resource for you.
Why Own Rare Coins?
To the collector, each rare coin is a work of art and a piece of American history. To the investor, rare United States coins represent a tangible investment with excellent long term price performance which has been documented in many highly respected financial publications, including The Wall Street Journal and Barron’s.
Until recently, the profitability of rare coins was enjoyed almost exclusively by those who possessed the expertise to recognize and acquire the finest coins. However, recent developments in the rare coin industry have opened up this promising market to virtually all investors. United States rare coins remain one of the most private of all investments which are easily stored and transported. United States coins are considered collectibles and, by federal law, cannot be confiscated in times of national crisis. Investors generally acquire coins to properly diversify their investment portfolios and for the security, liquidity and profit potential they provide.
Circulated Grades
Certified grades assigned to coins range from poor (1) to perfect (70). A coin can either
be designated mint state (struck for circulation) or proof (usually specially struck for
collectors). The following are the grades you may see on a certified coin and a brief
description of what it means.
ABBREVIATION
ADJECTIVE
DESCRIPTION
P
1
Poor
All designs are barely recognizable
AG
3
About Good
Very heavily worn but part of date may be readable
G
4
Good
All design elements are visible but may be faint
VG
8
Very Good
Well worn but all designs elements clear although flat
F
12
Fine
Even moderate wear so that entire design is bold
VF
20
Very Fine
Moderate wear on high points of design but all major details clear. A pleasing circulated coin.
XF
or
EF
40
Extremely Fine
Design is lightly worn with most high points visible with slight wear or flatness. Luster may be present in protected areas
XF
45
Choice Extremely Fine
A bit more luster or less contact marks than previous grade
AU
50
Almost Uncirculated
Traces of light wear on most high points. Usually 25 - 50 percent of mint luster evident
AU
53
Choice Almost Uncirculated
Same as above but fewer contact marks or other imperfections
AU
55
Premium Almost Uncirculated
At least 50 percent of luster evident and less contact marks or other imperfections
AU
58
Premium Almost Uncirculated
At least 75 percent or more luster present and less imperfections
Uncirculated Grades
Accurate determination of these grades can only be done through extensive
comparisons to standard grading service grading sets.
ABBREVIATION
ADJECTIVE
DESCRIPTION
MS
60
Uncirculated
No wear but may show considerable bag marks, discoloration, abrasion, detail weakness and other unsightly traits including diminished luster. Out of an original bag of coins the most imperfect coins are the MS-60s. In some early series, for example 18th and 19 century coinage, where mint state examples are rare, MS-60’s are coveted. In most 20th century series MS-60s are considered too low a grade for rare coin investors to consider.
MS
61
Uncirculated
Less imperfections than MS60
MS
62
Choice Uncirculated
Lighter marks and abrasions and 90 - 100 percent full luster The first really choice mint state grade. May have some strike weakness.
MS
63
Choice Uncirculated
A pleasing uncirculated coin with full luster. Most contact marks are on the periphery. Contact marks may be present in key central areas but are scattered. Strike may be a trifle less than full. Other minor imperfections may be present
MS
64
Gem Uncirculated
Less marks in key central areas, full luster, almost full detail and good overall eye appeal separate this grade from lower grades.
MS
65
Gem Uncirculated
Only a few marks in key central areas and minor marks on the periphery. Excellent eye appeal whether the coin is brilliant or has attractive coloration (toning). Details are strong and mint made imperfections, if any, are barely noticeable.
MS
66
Gem Uncirculated
Slightly more eye appealing than MS-65. Contact marks or frost breaks are slight
MS
67
Superb Uncirculated
All imperfections require intense scrutiny to locate. This is a mind boggling eye appealing specimen.
MS
68
Superb Uncirculated
An amazing coin that experts often use a term like wonder coin to describe its eye appeal and immaculate surfaces.
MS
69
Superb Uncirculated
Only under intense magnification can any undesirable trait be discerned. Phenomenal eye appeal.
