| The value of a coin is generally determined by | | | | identified; its date and detail may be completely |
| three factors, rarity, demand and condition. | | | | worn, the coin is usually has a smooth flat |
| Amateur coin collectors and investors are easily | | | | surface. |
| able to determine if a coin has rarity or demand, | | | | Fair - 2 A coin in fair condition may have the date |
| few could say they are knowledgeable in | | | | and half the major detail faintly recognisable, |
| determining the condition of a coin. Condition is | | | | mostly a smooth, flat coin. |
| everything when two like coins compete for best | | | | Good (G-4) This coin will be heavily worn, its |
| price, would you buy the MS 63 Penny or the VF | | | | major detail weak. The main designs will be |
| Penny? | | | | recognisable. |
| The information below will help you navigate your | | | | Very Good (VG-8) Most of the major detail visible |
| way to a basic understanding of coin grading. Get | | | | but heavily worn. |
| yourself two or three coins and grade them | | | | Fine (F-12) Finer Detail is visible though worn |
| according to either of the following scales: | | | | heavily, major detail apparent. |
| The most basic coin grading scale and the one | | | | Very Fine (VF-20) A coin in this condition should |
| most regularly used at online auctions: | | | | have a moderate even wear and all major |
| Gem Uncirculated - Full mint lustre, virtually | | | | features should be visible. |
| flawless strike, any detracting marks are | | | | Extremely Fine (XF-40) This coin should have |
| insignificant, great eye appeal & beautiful fields. | | | | traces of mint lustre. There should be slight wear |
| UNC -Uncirculated - Good eye appeal, no | | | | on the high points of many designs. |
| significant detracting marks, may have some | | | | About Un-circulated (AU-50) Mint lustre will be |
| insignificant bagging, good strike and should have | | | | evident. There will be faint traces of wear in the |
| lustre present. No damage to the rim. | | | | highest points. All other high points should be |
| EF - Extra Fine - Lightly worn on the high points | | | | clearly visible, while showing no wear in the design |
| only. Usually has been withdrawn from circulation | | | | on the lower areas. |
| early. Still has some lustre and should have very | | | | Mint State (MS-60) Completely un-circulated |
| good eye appeal. Insignificant rim marks only. | | | | condition. Excellent lustre - though it may not be |
| VF - Very Fine - Has obvious wear to the high | | | | evident across all fields. The coin may have a few |
| points of the coin through considerable circulation. | | | | marks, a natural result from minting and |
| Rim shows some light damage / marks. The coin | | | | transportation. |
| pattern should still be crisp and most importantly, | | | | Mint State (MS-65) Full mint lustre on all of the |
| the coin should look good to the eye. Traces of | | | | coin's surfaces. No detracting marks at all. |
| lustre present. | | | | Mint State (MS-70) Perfect! |
| F - Fine - Well circulated coin with extensive wear | | | | It all seems like a bit much at first but it's easiest |
| on the design. Average at best. | | | | if you start at the top and work down to |
| VG - Very Good - You can just make out the | | | | determine a coin's grade. For example if your coin |
| date and design, nearly all other pattern detail is | | | | has detracting marks it will be below MS 65, faint |
| gone. | | | | traces of wear and it will be below MS 60. |
| If you are after a more accurate picture this is | | | | Coin grading is an essential skill and very |
| the Grading system used by professional coin | | | | contentious when Investors / Collectors disagree |
| grading companies. It is called the Sheldon System | | | | on a coin's grade. It can mean hundreds, |
| and provides a more detailed description. Many | | | | thousands and even millions of dollars difference |
| rare Australian coins are sent to companies like | | | | to the value of a coin. It is quite well known that |
| PCGS in the USA, returning with a grade from | | | | many investors send their coins to grading |
| this system. | | | | companies several times over in the hope of a |
| Poor - 1 A coin in this condition can just be | | | | better outcome. |