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