Grading is Subjective

Beginners will have the hardest time with uncirculated grades. An uncirculated coin doesn't necessarily mean that its never been touched by human hands. Meaning that the coin didn't actually perform its intended function in the channels of commerce, i.e. it did not circulate. Uncirculated coins have different grades based on how the coin was treated once minted. Some have a lot of bag marks from being tossed in a bag with others...and possibly taken on a 200-mile stagecoach ride to the bank of destination.

Once you fully understand and appreciate that grading is a subjective art, you're halfway home. Grading of rare coins is anything but an exact science; however, grading is not just a bunch of smoke and mirrors either.



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