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For many collectors, the terms 'grading' and 'slabbing' may be unfamiliar. This refers to the process of assessing a coin's condition and subsequently packaging it in a special plastic case called a 'slab.' This process helps protect the coin and officially certify its condition, which directly affects its value.
For many collectors, the terms 'grading' and 'slabbing' may be unfamiliar. This refers to the process of assessing a coin's condition and subsequently packaging it in a special plastic case called a 'slab.' This process helps protect the coin and officially certify its condition, which directly affects its value.
The decision to send one's own coins for grading to a reputable company, such as NGC (Numismatic Guaranty Corporation), is an important step for any collector. This allows one to go through the entire process, from preparing the coins to receiving them back in a certified form, in special slabs.
| International System | Dr. Sheldon's Scale |
| PF (Proof) | PF 1-70 |
| PL (Proof-like) | MS 60-70 PL |
| BU (Brilliant Uncirculated) | MS 65-70 |
| UNC (Uncirculated) | MS 60-64 |
| AU+ (Choice Almost/About Uncirculated) | AU 55, 58 |
| AU (Almost/About Uncirculated) | AU 50, 53 |
| XF+ (Choice Extremely Fine) | XF 45 |
| XF (Extremely Fine) | XF 40 |
| VF+ (Choice Very Fine) | VF 30, 35 |
| VF (Very Fine) | VF 20, 25 |
| F (Fine) | F 12, 15 |
| VG (Very Good) | VG 8, 10 |
| G (Good) | G 4, 6 |
| AG (Almost/About Good) | AG 3 |
| FA (Fair) | FA 2 |
| PR (Poor) | PR 1 |
Even a novice numismatist knows that a coin's condition is the key factor determining its value. The price for the same coin in different states of preservation can vary tenfold. A heavily worn specimen that has been in circulation for a long time will be worth significantly less than a coin that has retained its mint luster, as if it just came from the mint.
For an objective assessment of condition, the Sheldon Scale was developed, named after the American psychologist who invented it. This system has become the standard for all professional grading companies. The scale consists of 70 points, where 1 is the worst condition (Poor, PO-1), when the coin has practically turned into a piece of metal, and 70 is ideal (MS/PR-70), without the slightest defects.
The scale itself is not linear and has about 30 discrete steps. For example, the grade XF 40 is immediately followed by XF 45; there are no intermediate values.
In the Sheldon system, there are two main divisions for coins:
Grading in the MS range (from 60 to 70) is done with particular scrupulousness. A difference of just one point, for example, between MS-65 and MS-66, can mean a price difference of thousands of dollars for rare specimens. Coins with a grade of MS-67 or higher are considered virtually flawless, and finding a historic coin in MS-68 condition is a great rarity.
The leaders in the grading market are two American companies: NGC (Numismatic Guaranty Corporation) and PCGS. They accept coins for assessment, verify their authenticity, determine the type, and assign a grade according to the Sheldon scale. After this, the coin is sealed in a durable, tamper-evident plastic slab.
The slab's label indicates all key information: year of issue, denomination, coin type, assigned grade, and a unique number with a barcode. This number can be verified in the database on the company's website, which is a 100% guarantee of the coin's authenticity and condition. This significantly facilitates buying and selling, especially online, as the buyer knows exactly what they are acquiring.
Coin slabbing has both obvious advantages and some disadvantages.
Three interesting gold coins with different potential were selected to be sent for grading.
Slabbing is a process that is not only lengthy but also costly. To be able to submit coins, one must become a member of NGC, which costs from $25 per year.
The cost of grading one coin depends on its value and category. For example, for gold coins valued up to €3000, the price is €42. To this is added a form processing fee (about €15) and shipping costs to the European office (for example, in Munich) with full insurance, which can add another €30-40.
The processing time for coins at NGC itself is currently 10 weeks. Considering the shipping time there and back, the entire process from sending the coin to receiving the finished slab can take about 3 months. Thus, it requires both financial investment and patience.
