| I used to collect pennies as a youth, but more | | | | from MS60 to 70, accounts for 7% of the online |
| recently went back to more serious collecting. | | | | graded coins according to their website. That |
| Because there are so many newcomers like | | | | means a coin sent to them gets at least a MS60. |
| myself, I thought I would share the basics I | | | | That could be a problem on a poor quality coin |
| almost forgot. Whether it's for fun, investing, or | | | | that should have a far less value |
| profit, you need to know what you are doing. | | | | You can bet that a low-priced coin is marked less |
| Assuming that you are seeking individual | | | | because of the grading company used or none at |
| already-minted US silver or gold coins, the | | | | all. When looking online at eBay for example, the |
| following applies. The value of a coin is determined | | | | MS or mint state grading might be listed as MS64 |
| by it's (1) rarity i.e. the number of coins minted | | | | by the dealer, when the coin is closer to a MS62 |
| and (2) it's condition. When buying a coin, consider | | | | when actually graded by the PCGS in the future. I |
| how the condition was decided. If it's the owner's | | | | would only buy something pre-graded or, if it's a |
| opinion, beware. That can be very subjective. | | | | cheap coin say under $10, take a small chance |
| That's why you should choose coins that have | | | | and then send to the PCGS to have it graded for |
| already been graded by a reputable service. Use | | | | yourself. |
| only first-tier, or national recognized agencies. | | | | Another word of wisdom. You have a choice to |
| Here are the ones universally considered the best: | | | | make. Do you buy something rarer and lower |
| PCGS (Professional Coin Grading Service) | | | | quality or a higher MS and more plentiful? If it's a |
| 800-447-8848 and NGC (Numismatic Guaranty | | | | Morgan silver dollar at $100, which is the better |
| Corporation of America) 800-642-2646. If you | | | | choice? It depends on what you will do with the |
| must try a second tier, or "average" service, they | | | | coin. Is it for show? Then go for the luster and |
| are: ANACS (Amos Certification Service) | | | | lower defects. After all, you want to show off |
| 800-888-1861 and ICG (Independent Coin Grading | | | | your best. But if appreciation is the goal, a rarer |
| Co.) | | | | coin might prove better in the long run. Either |
| 877-221-4424. | | | | way, only spend what you can afford and have |
| Third tier or "independent" services should be | | | | fun. Get a good beginners book for collectors and |
| avoided because no one really knows how they | | | | invest in the "Official Red Book" of US coin values. |
| grade and what their criteria would be. For | | | | Learn what's out there on the internet and visit a |
| example, Star Grading Service, which only grades | | | | local coin shop to see the actual coins. |