PCGS Coin Grading
PCGS stands for Professional Coin Grading Service and they are a division of Collectors Universe. They were started in 1985 and have been grading coin ever since.
As coin collecting gained momentum during the early 1900s, the condition of a coin, along with its rarity, essentially determined its value as is the case today. And over the years, coin grading evolved to a system of finer and finer grade distinctions. The problem was the often subjective assignment of “grades” by different coin dealers.
When the rare coin market was limited to a small number of numismatists trading with each other, three broad definitions were enough to determine grade: “Good” – a coin with most of the detail intact; “Fine” – a coin with clear detail and some luster on its surfaces; and “Uncirculated” – a coin which had never been in general circulation and therefore retained its Mint State condition.
As the market grew, collectors realized that some “fine” coins were finer than others. Even some uncirculated coins rose above the rest in detail, luster, and general appearance. Soon terms such as “Very Fine” and “Extra Fine” began to emerge, as collectors sought to further define the condition of their coins and increase their value. In 1948, Dr. William Sheldon, a renowned numismatist, developed the Sheldon Scale, assigning grades from “1” through “70” to coins on the theory that a “70” would be worth 70 times as much as a “1.”
Although coin collectors agreed on the scale, they could not agree on the standard, and assigning a Sheldon Scale grade to any given coin was still a matter of subjective opinion. Continue Reading
We continue to buy and sell PCGS coins each and every day. They often can get the highest premium of coins.