More on grade
and condition
Other factors to consider when assessing and
evaluating collectable coins.
Coins have historically
been made from relatively
soft metals.
Over time, through
circulation, coins wear
and lose detail,
particularly in the higher
areas of the design.
At it's simplest, 'grade' refers to the level of detail remaining,
compared to what was there in the first place.
(ie. relative to 'mint state')
Grading is not the end of the story.
Some coins will be dropped, knocked, scratched, buried, soaked, abused,
modified, cleaned, submitted to the elements, or otherwise under-loved.
Any negative impacts, such as a scratch, bump, discolouration, verdigris,
indications of cleaning, etc, would be considered 'detractors', which
significantly, (negatively), impact value.
Further, grading is subjective.
If a person or company expresses a grade,
it is less a 'fact', and more an opinion based
on their experience.
So yes, you can assess a coin using a guide
to help evaluate grade, and therefore what
it might be worth to someone else, however
keep in mind that it is an opinion.
Experienced collectors will have their own opinion of a coins grade, as will
dealers, and there are even professional third party grading companies that
will assess, grade, and 'slab' a coin to certify their opinion of grade.
(for a nominal fee).
A final note.
Values provided here are estimates only of what a professional dealer might
sell a coin for in a particular grade, with no detractors. They are intended to
be used as 'indication only'.
What you might expect to get for it as a layman is probably closer to an auction
price, which in most cases, would effectively be a dealers wholesale price.
Perhaps 25% to 30%, up to maybe 70% or 80% of the estimated values,
if you are patient and have someone who wants your coin. You may do better
if you have something particularly sought after.
If you are conservative in your mindset, you are less likely to be disappointed.
Good luck, and happy collecting!
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