| Understanding Coin Price Guides By Robert
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| | have a "silent assumption" built in to
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| L Taylor, JD There are many coin price
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| | their guide; which is that the Grade that
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| guides published; weekly, bi-weekly,
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| | YOU decide upon, is True or Accurate, and
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| monthly and annually. They come in the
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| | that such Grade is based on the ANA
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| form of magazines, newsprint, "hot
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| | Standards. The first difficulty that
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| sheets", and books. All of us have
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| | arises is that most people never know if
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| referred to one of these from time to
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| | the Grade that they have decided upon is
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| time to ascertain what a particular coin
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| | Accurate. Of course, this difficulty
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| might be worth. Yet, few of us stop to
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| | never comes into question, if the coin is
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| think about what we are getting from any
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| | Professionally Graded by an appropriate
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| one of these Price Guides, beyond the
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| | company. There are only four (4)
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| price or value of a coin. After all,
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| | reputable Professional Grading companies
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| don't price guides, just give you the
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| | that strictly follow the Guidelines set
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| price? What else is there? Basic to an
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| | by the ANA, and they are: PCGS, NCG, ICG,
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| understanding of price guides are two
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| | and ANACS. The second difficulty arises
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| things: 1) the Grade of the Coin; and 2)
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| | because of this "silent assumption" or
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| the Foundation of the price guide.
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| | Foundation of all price guides is whether
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| Knowing the Grade of the Coin is required
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| | or not the Grade has been decided upon
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| before one can begin. Saying so seems to
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| | using the Guidelines or Standards
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| be obvious, but what more does it mean?
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| | established by the ANA. If you don't have
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| Unless the coin is Graded by an
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| | the skills and training of a professional
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| appropriate Professional Grading Company,
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| | coin grader, the decision is probably
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| which has designated what Grade and
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| | questionable. Even if you do have the
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| Identity has been assigned to the coin,
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| | skills and training of a professional
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| most of us are making an assumption about
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| | coin grader, the decision is still
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| the actual Grade. This assumption we make
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| | probably questionable. Why? Because even
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| can be very dangerous because of: a) the
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| | professional coin graders have differing
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| difficulty in grading a coin; and, b) the
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| | opinions. This is why the reputable
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| different possible outcomes or results
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| | professional coin grading companies
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| that occur. One Grade "point" or level
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| | require the opinions of three (3)
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| can make the difference in hundreds or
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| | professional coin graders to arrive at
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| thousands of dollars in the Value of a
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| | the "Grade" designation to be placed on
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| Coin. Price Guides assume that YOU
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| | every coin. The obvious conclusion is
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| already Know the Grade of the Coin. This
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| | that a Serious Coin Collector is going to
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| is why we have the First Rule of Coin
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| | invest in rare and modern coins that are
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| Collecting: Know the Grade of Your Coin.
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| | graded by one of the Top Four reputable
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| Secondly, ALL Price Guides are founded on
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| | Grading companies. It is the only certain
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| the same Principle, which is that the
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| | way to eliminate the disagreements and
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| Coin, whose price you are looking up, has
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| | arguments about the Grade of Any coin
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| been Graded using one Grading Standard.
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| | being Bought or Sold! It is the only
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| That Grading Standard is set by the ANA -
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| | certain way one can Value their coin
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| American Numismatic Association - and is
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| | collection. It also eliminates "getting
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| entitled the Official Grading Standards
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| | taken" or cheated buying raw coins. Have
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| For US Coins. Therefore, ALL Price Guides
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| | fun collecting your Perfect Coins!
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