Understanding Coin Grading
Grading is the assessment of a coin's condition, and it's the single most important factor in determining value. A key date in poor condition may be worth less than a common date in superb condition. Learning to grade accurately is essential for any serious collector.
British coins traditionally use a different grading scale than American coins, though both systems are now commonly used internationally. This guide covers both systems and their correlation.
Grading Scales Compared
| UK Grade | US Grade | Numeric (Sheldon) | Description |
|---|---|---|---|
| Poor (P) | Poor/Fair | PO-1 to FR-2 | Barely identifiable as to type |
| Fair (FR) | About Good | AG-3 | Very heavily worn, outline visible |
| Good (G) | Good | G-4 to G-6 | Major design visible, heavy wear |
| Fine (F) | Fine | F-12 to F-15 | Moderate wear, all major details clear |
| Very Fine (VF) | Very Fine | VF-20 to VF-35 | Light wear on high points |
| Extremely Fine (EF/XF) | Extremely Fine | EF-40 to EF-45 | Slight wear on highest points only |
| About Uncirculated (AU) | About Uncirculated | AU-50 to AU-58 | Trace wear, most luster intact |
| Uncirculated (UNC) | Mint State | MS-60 to MS-70 | No wear; quality varies by marks/luster |
| FDC (Fleur de Coin) | Gem Uncirculated | MS-65+ | Perfect or near-perfect |
| Proof | Proof | PF-60 to PF-70 | Special strike with mirrored fields |
Grading British Pennies: What to Look For
Obverse (Portrait) Checkpoints
Large Copper Pennies
George III (Cartwheel):
- Hair detail above ear
- Laurel wreath leaves
- Drapery folds on shoulder
- Legend sharpness
Later Coppers:
- Hair curls definition
- Portrait details (eye, nose)
- Crown/ribbon clarity
Small Bronze Pennies
Victoria Bun Head:
- Hair bun detail
- Ribbon ends
- Jewels in coronet
- Ear and cheek definition
Later Monarchs:
- Hair/crown detail
- Beard definition (if applicable)
- Legend clarity
Reverse (Britannia) Checkpoints
- Shield: Union cross details, definition between quarters
- Helmet: Plume definition, face detail
- Trident: Prong sharpness, shaft detail
- Drapery: Fold definition, arm detail
- Waves/Rocks: Line definition (varies by type)
- Lighthouse/Ship: Clarity of small details
Grade Descriptions: Large Copper Pennies
Good (G-4 to G-6)
Portrait is visible as a silhouette. Major legend readable but worn. Britannia visible but largely flat. Date clear. Rim mostly intact but may show heavy wear.
Cartwheel specifics: Edge lettering may be partially worn away.
Fine (F-12 to F-15)
Portrait shows some hair detail. All legend readable. Britannia shows basic form with some drapery visible. Trident clear. Rim complete.
Look for: Some definition in hair above ear; shield cross visible.
Very Fine (VF-20 to VF-35)
Portrait well-defined with clear hair curls. All details sharp except highest points. Britannia shows good drapery folds. Lighthouse and ship visible.
Look for: Wear limited to hair above ear and Britannia's knee.
Extremely Fine (EF-40 to EF-45)
Only slightest wear on hair and Britannia's knee. All details sharp. Original mint color may show in protected areas. Slight friction on high points.
Look for: Trace wear only; nearly full definition throughout.
Uncirculated (MS-60+)
No wear visible under magnification. May have contact marks, bag marks, or toning. Luster may range from subdued to brilliant depending on grade within MS range.
Color designations: BN (brown), RB (red-brown), RD (red) - RD commands highest premiums.
Grade Descriptions: Small Bronze Pennies
Good (G-4 to G-6)
Portrait visible with crown/coronet identifiable. Legend complete but worn. Britannia flat with shield outline visible. Date clear.
Fine (F-12 to F-15)
Hair bun outline clear with some strand definition. Coronet jewels visible as bumps. Britannia shows basic drapery. Trident complete.
Key wear points: Hair bun top, Britannia's knee and breast.
Very Fine (VF-20 to VF-35)
Hair bun shows significant strand detail. Coronet jewels defined. Ribbon ends clear. Britannia well-detailed with clear drapery folds. Shield cross sharp.
Look for: Wear confined to bun top and highest parts of Britannia.
Extremely Fine (EF-40 to EF-45)
Slight friction on bun only. Full hair definition. All jewels sharp. Britannia shows only trace wear on knee. Original luster may be visible.
About Uncirculated (AU-50 to AU-58)
Slight friction on highest points. Most original luster intact. AU-58 approaches uncirculated with only the slightest evidence of handling.
Uncirculated/Mint State (MS-60 to MS-70)
No wear. Grades within MS range based on:
- MS-60 to MS-62: Heavy marks, subdued luster
- MS-63 to MS-64: Moderate marks, good eye appeal
- MS-65 to MS-66: Minor marks, excellent eye appeal (Gem)
- MS-67+: Virtually flawless
Color Designations for Bronze
Third-party graders assign color designations that significantly impact value:
| Designation | Meaning | Value Impact |
|---|---|---|
| RD (Red) | 95%+ original mint red color | Highest premium (2–5x BN) |
| RB (Red-Brown) | 5–95% original red | Moderate premium (1.5–2x BN) |
| BN (Brown) | Less than 5% original red | Base value |
Important: Color toning is natural and expected. Artificial cleaning to restore "red" color destroys value. Original brown patina is preferable to a cleaned coin.
Problems to Avoid
Cleaning
The most common issue. Signs include:
- Unnatural brightness
- Hairlines visible under magnification
- Retoning in an unnatural pattern
- "Whizzing" (wire brush marks)
Impact: 50–90% value reduction
Environmental Damage
Common on copper/bronze:
- Verdigris (green corrosion)
- Pitting or porosity
- Spots or staining
- PVC damage (green, oily residue)
Impact: Variable; minor spots less serious than active corrosion
Physical Damage
- Scratches or gouges
- Rim bumps or dings
- Bent or straightened
- Mounting damage (jewelry use)
- Graffiti or tooling
Impact: 25–75% value reduction
Artificial Toning
Attempts to create attractive patina:
- Colors that seem "too perfect"
- Unnatural color progression
- Toning that doesn't match age
Impact: Significant; experts can usually detect
Third-Party Grading Services
For valuable coins, professional grading provides authentication, accurate assessment, and market confidence:
NGC (Numismatic Guaranty Company)
- Excellent for British coins
- Detailed census data available
- Variety attribution service
- UK submission centers available
PCGS (Professional Coin Grading Service)
- Strong world coin presence
- CoinFacts reference database
- Price guide included
- International offices
When to Use Third-Party Grading
- Coins worth £200 or more
- Key dates and major rarities
- Coins being sold at auction
- High-grade pieces where exact grade matters
- Any coin where authenticity is questioned
Grading Tips for Collectors
- Use proper lighting: Diffused daylight or a quality desk lamp at an angle
- Use magnification: 5x–10x loupe minimum; higher for small details
- Grade the coin, not the holder: Slabs can make coins look better; evaluate the coin itself
- Compare to known examples: Use NGC/PCGS photo grades as references
- Be conservative: When in doubt, grade lower
- Look at both sides: Grade is based on the weaker side
- Consider eye appeal: Two coins of the same grade can have very different appeal
Grading Resources
- NGC Grading Scale Explained
- PCGS Official Grading Standards
- Spink – UK Grading Conventions
- Bressett, Kenneth. Official ANA Grading Standards for United States Coins
- English, Stephen. The Standard Guide to Grading British Coins