There is a link to see what is the code for this grade you both talking about?
Grading takes a lot of study and a lot of asking questions.
The "code" being used is one that is used by third party grading systems (TPGs) like ANACs, NGC
, and PCGS
. Google PCGS
photo grade and you can find where they have pictures of varying examples of the grades as they assign them.
You can also find youtube videos of TPG
seminars given for how they grade.
As the internet made more availability of coins for everyone, slabbed coins became more popular since people tend to perceive an "expert" opinion to be important.
While TPGs have claimed they have attempted to make a standard for the hobby, at the same time they will tell you grading is subjective and not a science. And... the three main companies do not all grade the same way! Some people will deliberately break a coin out from one company b/c the other company's system is known to give a higher grade on that coin!
In other words, if a coin is submitted and slabbed/graded, once broken out it can never be guaranteed of the same grade again - even if submitted to the same grading company. And yet just one grade point can sometimes mean a difference in thousands of dollars of perceived value.
Sometimes people will keep submitting a coin that they think is close to a higher grade until it comes back at the higher level they wanted.
Unfortunately newbies sometimes infer the idea that every good coin NEEDS to be slabbed as a natural process of the hobby. Remember, TPGs are just an optional service if you desire to use them. They are a business who helps educate the hobby, but they also are in the business to make money. There are all sorts of ways they do this with special labels, inciting competition to buy higher graded coins by making registry sets on their sites, etc. Some people enjoy this as part of the fun of the hobby.
If a good coin is being sold, slabbing will bring in a better profit.
All of the above info is why you will see it said over and over on this forum, "Buy the coin, not the slab."