More Salients Points On Grading Of A Banknote

Posted by slang on December 5, 2008

For paper money collectors, it is cool to understand what’s IBNS (International Bank Note Society) has to say about examination and grading of cleaned/washed/pressed banknotes:

To examine a banknote, we should:

• have the bank note out of its holder and place under a good light; move the note around so that light bounces off at different angles; hold it up obliquely so that the note is almost even with your eyes as you look up at the light

Such examination will reveal hard-to-see folds or slight creases.Incidentally, beside doing the aforesaid examination, some individuals might also lightly feel along the surface of the note to detect creasing.(oop! be careful of dirty or sweaty fingers,etc)

Next, cleaning, washing or pressing paper money is generally harmful and reduces the grade and the value of a note. The washed or pressed note may loss its original sheen and the surface may become lifeless and dull. However, cleaning, washing or pressing paper money might not eliminate folds and creases and can be detected while examining under a good light (refer above). Carelessly washed notes may also have a white streaks where the folds or creases were(or still are).

For banknote collectors, it is important to note that such processing will automatically reduce it at least one full grade re: started original as very fine but after processing(if spotted) becomes fine condition.

So be beware and look into your bank note collection to see if you have such processed notes which might made your paper money investment value dropped drastically!

Banknote Grading Using Series of Point

Posted by slang on April 22, 2008

To introduce a more accurate and uniform way to determining a condition of a particular note, a system has been developed using a series of points which when added, yield a final total and a grading.

The suggested totals of points for the various grade are as follows:

Bank Note Grading Using Point Series Method

The Sheldon Scale For Grading Coins

Posted by slang on April 19, 2008

The Sheldon Scale is a 70-point scale for grading coins, developed by Dr. William Sheldon in 1949. A slightly modified form of the Sheldon Scale has become the de facto standard for grading U.S. coins today, and is used by the major third party grading services when assigning a grade to a coin. The adjectival grading system was the predecessor to today’s 70-point grading scale, and the adjectival terms are still used to help clarify the numeric equivalent.

Sheldon Scale for Grading U.S. Coins

Poor-1 or P-1 (Poor) – The type is barely discernable, but little else, due to the coin being badly damaged or worn smooth.

Fair-2 or FR-2 (Fair) – Type and date are barely discernable, but otherwise the coin is damaged or extremely worn.

AG-3 (About Good) – Type and date are discernable, although some spots may be worn out.

Some lettering should be apparent, if not necessarily readable.

G-4 (Good) – Major devices and features are evident as outlines. although the coin overall is heavily worn.

G-6 (Good-plus) – Coin has a full rim plus major devices and features are clearly outlined. Heavy wear.

VG-8 (Very Good) – Full rim with clearly discernable devices and features. Most legends are readable clearly, but the whole coin is still significantly worn.

F-12 (Fine) – Distinct rim, all legends readable, clear devices showing some detail, but the whole coin is moderately, but evenly worn.

VF-20 (Very Fine) – Clearly readable but lightly worn legends, devices show good detail, rims are clean, but the whole coin shows moderate wear on the high points and a little wear below.

VF-30 (Good Very Fine) – Legends are clear, devices show all detail with little wear; high points are lightly worn.

EF-40 (Extremely Fine) – Legends are sharp, devices are clear with slight but obvious wear on the high points.

XF-45 (Choice Extremely Fine) – Legends and devices are clear and sharp, with slight wear on the high points, and great eye appeal.

AU-50 (About Uncirculated) – Sharp legends and devices show only a trace of wear on the highest points. There must be some remaining mint luster.

AU-55 (Good About Uncirculated) – Sharp legends and devices show only a hint of wear on the high points. Remaining mint luster must be at least half; great eye appeal.

AU-58 (Choice About Uncirculated) – Virtually uncirculated, except for minor wear marks on high points. Nearly all mint luster must be present, and must have outstanding eye appeal.

MS-60 (Mint State Basal) – Coins in this grade are ugly, dinged-up, bag-marked, ill-toned specimens, but they are in mint condition and free of any wear!

The grades from MS-60 to MS-70, as well as the Proof designations, are all based primarily on eye appeal, quality of luster and/or toning, and the presence or absence of contact marks, hairlines, etc.

All coins MS-60 and higher are Mint State coins. It is worth noting that Proof is not a grade, but a type of coin.