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Certified Rare Coins
"Since 1970 high quality rare coins have out performed
the Dow Jones Industrial Average by a factor of 3-1."
About The Certified Coin Exchange
Certified rare coin trading between major coin dealers on the CCE started in 1990. Independent grading laboratories certify a coins authenticity, condition, and that it is free from any defects such as cleaning or alteration. All grading services are independent to authenticate and grade coins- none deal in coins.
The Certified Coin Exchange (CCE.) features over 100,000 bid and ask prices for dealers in certified coins and over 11,000 offerings to the retail coin buyer.
Dealers on CCE buy and sell all types of numismatic material - bullion, raw coins, certified coins, bags, state quarters, eagles, foreign coins, ancients, currency, and numismatic supplies.
The Professional Coin Grading service (PCGS)was quickly followed by Numismatic Guarantee Corporation (NGC) . For the first time coins could be submitted to independent 3rd party services to authenticate and grade a coins condition. (Both sites are a great resource for discovering prices, populations, and auction results).
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The Grade of a coin is measured using the Sheldon scale of 1 through to 70. The higher the grade, the more expensive a coin is. Coins occupying the range from 60 through to 70 are in Mint State condition, also called Uncirculated. Price differences between these grades often are substantial.
GRADING DISCRIPTIONS
MINT STATE 60 -(Un-circulated)
An un-circulated specimen showing evidence of rub or friction.
However, it will be bag-marked and/ or weakly stuck. May not
have full luster.
MS 63
A specimen in choice un-circulated condition. Will not have
minor bag marks and may show only a slight weakness of strike.
Should have full luster. Theses are well above average coins.
MS 64
A specimen with full luster (brilliant or original toning) and
sharply struck. May exhibit some field distractions. May have a few minor cheek contact marks. Must have eye appeal.
MS 65-(Gem Un-circulated)
A sharply struck specimen with full luster (brilliant or original
toning). Will exhibit no major distractions in the fields and
show virtually clean design relief. Only a
small percentage of available un-circulated specimens of any
date are MS 65s. MUST have immediate eye appeal.
MS 70
A flawless specimen. No surface abrasions with perfect strike
colour and tone. Generally coins that were not minted or intended
for general circulation.
PL or DMPL -(Deep Mirror Proof Like)
A coin with its design and/or background showing a mirror-like
reflection. A coin that reflects an image from a distance of
3 inches is considered PL or Proof Like. A distance of 10 inches
is considered DMPL. It should be noted that these coins
fetch greater premiums when compared with non-DMPL pieces.
A coin which grades DMPL (Deep Mirror Proof Like) will fetch
a greater premium over a non-DMPL piece as they are much rarer
and have greater eye/ investor appeal.
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Population or Census Reports
In practice coins from the 19th century receive grades up to MS65, with only a tiny percentage grading higher than MS65.
Every time a collector or dealer submits a coin for certification it is assigned a unique bar code with each coin and its assigned grade recorded.
As with the CCE this simple evolution has created a far more transparent and easily readable market. Twenty years ago quantifying how many coins still exist was an educated estimate based upon original mint production figures and earlier experience. Now with the introduction of POP reports, dealers not only know how many coins were made, they can identify how many have been graded, and more importantly the individually assigned grade.
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NGC Online Census Report is available here.
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