Black Mountain Coins Forum
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| jamess
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Sun Jul 09, 2006 4:23 am PCGS (Professional Coin Grading Service) |
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Hey ( - - blocked - - ) have a look at this topic, it says why the grading is important according to PCGS (Professional Coin Grading Service).
The Importance of Coin Grading by PCGS (Professional Coin Grading Service).
| Code: | If rare coin dealers only dealt with other rare coin dealers, there would be no need for coin grading. The two would simply decide on the value of the coin and conduct business accordingly. However, the coin market has expanded far beyond dealer to dealer transactions.
When the rare coin market was limited to a small number of numismatists trading with each other, three broad definitions were enough to determine grade: "Good" -- a coin with most of the detail intact; "Fine" -- a coin with clear detail and some luster on its surfaces; and "Uncirculated" -- a coin which had never been in general circulation and therefore retained its Mint State condition.
As the market grew, collectors realized that some "fine" coins were finer than others. Even some uncirculated coins rose above the rest in detail, luster, and general appearance.
Soon terms such as "very fine" and "extra fine" began to emerge, as collectors sought to further define the condition of their coins -- and increase their value. In 1948, Dr. William Sheldon, a renowned numismatist, developed the Sheldon Scale, assigning grades from "one" through "70" to coins on the theory that a "70" would be worth seventy times as much as a "one".
Although coin collectors agreed on the scale, they could not agree on the standard -- and assigning a Sheldon Scale grade to any given coin was still a matter of subjective opinion. |
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| siddarth
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Sun Jul 09, 2006 6:04 am |
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Earlier i was not knowing who the PCGS are.?
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| jamess
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Sun Jul 09, 2006 6:11 am |
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They are very much Important in this coin collecting game, actually they have really vast information then what we have.
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| james
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Mon Jul 17, 2006 5:52 am |
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thanks for posting that.i didnt know much about coin grading till now.very informative
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