How do you tell the condition of an antique coin?

Answer

Determing the condition (or grade) of a coin requires three things: Experience, References and being able to visually inspect the item. Some would argue that visual inspection is not necessary and can be accomplished utilizing photographs. Unfortunately, lighting plays a key factor in hiding/exposing flaws on a coin depending on the reflection and angle.

There are many references available, both on the Internet and printed media, to assist in the grading of coins. Simply use any search engine, type the words "Coin Grading" and you will have a host of links to choose from. A good printed source is "The Official American Numismatic Association Grading Standards for United States Coins". This book has reference pictures, as well as, descriptions for each coin in each grade. Whichever resource you choose, ensure that they follow the grading guidelines established by the American Numismatic Association (ANA).

Last, but probably most importantly, experience is the key in assigning a grade to a coin. Novice collectors, with some practice, can become quite accurate in determining grades for circulated coins (G-4 through AU-50). It becomes much more difficult when assigning grades for Uncirculated coins (MS-60 through MS-70) or Proof coins (PF-60 through PF-70) and the assistance of an experienced coin collector or trusted coin dealer should be sought.

Another option that is available is to have the coin graded by a third-party grading service. For a fee, the grading service will grade the coin, place it in a protective case with it's identifying information and then sonically seal the case to preserve the coin. There are many services to choose from, some reputable and some not. Seek the assistance of a knowledgable collector or dealer in determing a service to use.