Learn About The Job Of Rare Coin Numismatists With Rare-Coin.org
November 19, 2009 – The Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) were founded in 1986 and 1987, respectively. Before the inception of PCGS and NGC, it was up to individual rare coin numismatists to decide what grade a coin should receive. Coins could vary by three or four grades depending on which numismatist examined them, so sellers were sometimes shortchanged or overpaid for their rare coins.
Coins that are in pristine condition are called “Mint State” and there are different grades of Mint State coins. Mint State coins range from MS61-MS70, and Mint State coins can vary greatly in price depending on which particular Mint state grade the coin has been issued. For example, the $20 Saint Gaudens gold coin is valued around $4000 in the MS66 grade, but an MS67 specimen could easily fetch more than $10,000.
There are other companies that grade rare coins, but the rare coin numismatists at PCGS and NGC are the industry-recognized leaders in rare coin evaluation. If you have rare coins that you would like graded, it is highly recommended that you send the coins to either PCGS or NGC, because your liquidity and value will be better protected if the coins are graded by one of these two reputable companies.
If you already have coins that have been graded by PCGS or NGC, you can visit their websites (www.PCGS.com and www.NGCCoin.com) to check population reports, national retail prices, and the latest news about your rarities. PCGS and NGC do not buy or sell the coins that their numismatists examine, so contact a reputable dealer to trade certified rare coins or contact us directly if you would like us to point you in the right direction.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
