If you have ever looked at a coin listed for sale and seen a plastic slab with a grade number like “MS-65” or “PR-70,” you have seen the work of a professional coin grading service. These third-party grading companies — most notably PCGS and NGC — have transformed the coin market by creating an objective, standardized language for describing coin condition. At American Gold Buyers, located at 1178 Woodruff Road, Greenville, SC 29607, we buy and sell both raw (ungraded) and graded (slabbed) coins. Understanding how grading works helps you make better decisions whether you are buying, selling, or just curious about the value of what you own. Reach us at (864) 631-1000.
The Two Major Grading Services
PCGS — Professional Coin Grading Service
Founded in 1986 in California, PCGS was a pioneer in third-party coin authentication and grading. Before companies like PCGS existed, coin grades were assigned by sellers themselves — a system rife with conflicts of interest. PCGS introduced independent, fee-based grading where coins are evaluated by teams of professionals with no financial stake in the outcome. Each graded coin is encapsulated in a tamper-evident plastic holder (a “slab”) with a unique certification number that can be verified online.
NGC — Numismatic Guaranty Company
NGC, founded in 1987 in Florida, is the other dominant force in the grading industry. Like PCGS, NGC encapsulates graded coins in sonically sealed holders and provides online verification. Both services are widely accepted by dealers, auction houses, and collectors worldwide. In practice, coins from both services trade at similar premiums when the grade is the same, though some collectors prefer one service over the other for particular series.
The Sheldon Grading Scale
Both PCGS and NGC use the Sheldon numerical scale, originally developed by numismatist William Sheldon in 1949. The scale runs from 1 to 70, where 1 represents a barely identifiable coin and 70 represents absolute perfection with no imperfections visible under magnification.
Key ranges on the Sheldon scale:
- Poor (P-1): Barely identifiable type coin
- About Good (AG-3): Heavily worn, outline visible
- Good (G-4 to G-6): Major design elements visible but flat
- Very Good (VG-8 to VG-10): Well-worn with main features clear
- Fine (F-12 to F-15): Moderate wear on high points
- Very Fine (VF-20 to VF-35): Light to moderate wear
- Extremely Fine (EF-40 to EF-45): Light wear on highest points only
- About Uncirculated (AU-50 to AU-58): Traces of wear; most mint luster remaining
- Mint State (MS-60 to MS-70): No wear; graded by eye appeal, strike, and contact marks
Proof Coins and the PR/PF Designation
Proof coins — specially struck collector coins — are graded on the same 1-70 scale but are designated PR or PF rather than MS. A perfect proof coin grades PR-70 DC (Deep Cameo), reflecting the high contrast between mirror fields and frosted design elements.
Why a Grade Can Make a Huge Difference in Value
For common-date coins, grade differences of a few points may result in only minor price variations. For key dates or rare coins, however, a single grade point can mean the difference between hundreds and thousands of dollars. A 1921 Morgan dollar in MS-60 might be worth a modest premium over silver melt, but the same date in MS-65 could be worth many times more. The difference is the population of surviving examples in that grade.
Raw vs Graded Coins at American Gold Buyers
We purchase and sell both raw and slabbed coins. Raw coins are evaluated based on their apparent grade, metal content, and key-date status. Slabbed coins from PCGS or NGC carry the credibility of third-party authentication, which can make transactions smoother for both buyer and seller. We also carry graded bullion coins — such as MS-70 Silver Eagles or first-strike designations — for collectors who want the added security of a slab.
Customers from Greenville, Simpsonville, Mauldin, and throughout Upstate South Carolina are welcome. Visit us at 1178 Woodruff Road, Greenville, SC 29607, or call (864) 631-1000.
