Rggoodie And His Grading Guide

I thought that it would be better to reply to this thread here in the main forum.

Here is the guide as listed by rggoodie: My comments will be in Red.

Prior to 1986 and the evolution of our current grading companies the coin market was very limited. As with today, people had no idea how to grade, or even take the time to learn. With limited numbers of grading scales, collectors lose out. All BU coins are not equal. All AU coins are not equal. All XF coins are not equal, and this applies to all the current grades. For those who wish for simpler days, you need to learn how to play the game by the rules we all deal with. The days of a few grades are long passed. I do not feel that the current system is perfect, but it is far better than the days of a few grades. For those who still use the 7 point system, please offer all your MS-63 or better to me at regular BU prices, or AU sliders at XF prices.

Brilliant Uncirculated
Also referred to as FDC (Fleur de Coin - flower of the die). Although struck with normal dies, a coin described as BU is pristine, almost prooflike in appearance, being perfectly sharp, absolutely flawless and showing no signs of wear or bag marks. On the US grading scale, such a coin is described as MS-65. Grading at this superior level has become more complex in recent years with distinctions being made in many catalogs between (from
highest to lowest state of preservation) - FDC, GEM Uncirculated and Choice Uncirculated.

Uncirculated
A coin which shows no signs of being in circulation. Coins in mint rolls are classed as uncirculated. Due to high-speed production techniques, even uncirculated coins may show slight imperfections such as minor bag marks or tiny rim indentations, especially on larger coins.

Extremely Fine or Extra Fine (EF or XF)
Under magnification, these coins show only the slightest amount of wear in addition to slight bag marks. Wear will be confined to the very high points of the design and the natural mint lustre common to uncirculated coins will be still almost intact.

Very Fine (VF)
Slightly more wear will be evident without magnification but the coin is still in a high state of preservation. A magnifier will show numerous light scratches over the high points and on the fields of the coin. Most of the high points will be affected and only traces of the mint lustre will be present.

Fine (F)
Considerable signs of wear will be apparent on raised surfaces and the fields of the coin will be quite dull. Almost all sections of the coin will exhibit some forms of wear. Generally there will be no traces of lustre and the rim border will be smooth in parts.

Very Good (VG)
A strange description for a coin which is rather ordinary. If you see a coin for sale described as 'circulated', you should assume that this is the best it will grade. The whole of the coin is showing significant amounts of wear although all of the main detail is still visible. Usually only scarce coins and those of historical significance are worth collecting in this condition.

Good (G)
Again, the wrong word to describe the state of preservation of the coin. Nearly all the fine detail is lost although most of the main detail and lettering is still visible. The surface of the coin will be showing considerable scratching.

Fair
This coin is really showing its age or abused life. The design, including most of the main features, have disappeared through many years of handling. At best you can still make out the issuing country.

Poor
You can tell what shape the coin is, but that's about all. There is virtually nothing left to see - definitely scrap value only.

This is exactly why the US has grades such as AU. Trying to fit all coins into 7 grades just does not work.

In-Between Grades, Split Gradings and Additional Descriptions

Many dealers, in catalogs and advertisements, use in-between grades such as nUNC, aVF or gVF.
A coin described as aVF (almost VF) is one not quite up to VF standard but pretty close to the mark. It might also be described as F+ or nVF (nearly VF).
A coin described as gVF (Good VF) meets all the requirements of VF condition and then a little more. It could also be described as VF+ or, if it were a little better still, aEF.

The following table of in-between gradings, with their approximate percentage grading equivalents, may be useful:

100% UNC 65% aVF, nVF
99% vUNC 55% F+, gF
98% aUNC, nUNC 45% F
97% EF+, gEF 40% aF, nF
95% EF 35% VG+
90% aEF, nEF 25% VG
85% VF+, gVF 20% aVG, nVG
75% VF 15% G

Where the condition on one side of a coin varies from that on the other side, it is common practice to report the two gradings separately. For example, a coin described as VF/nVF has an obverse in
Very Fine condition while the reverse has slightly more wear and grades just below VF.

Been there, done that. Does not work.

When split gradings are used, it is common practice to state the condition of the obverse first and the reverse second. Another common practice is to indicate a range. This is normally used where a number of coins are offerred as a lot. For example, EF-UNC indicates the coin(s) grade between
both those classifications.
Another good practice in grading coins is to describe abnormal features of a coin as well as the
overall grade. Examples include:
* EF+, lightly toned
* aUNC, tiny rim nick on reverse
* VF, washed, retoning
* nEF, 8 pearls (see below for details) ...