How to Get a Coin Certified
Coin collecting is a hobby that can be both fun and profitable, but if you want to get serious about it you'll need to know the specifics of grading a coin. While the year of the coin and mint marks are two determining factors in a coin's value, the grade of the coin can make a significant difference. Coin grading companies provide a service by which your coin can be professionally graded and certified, making it easier to sell in the future. But not all coin grading companies are created equal, since grading is a subjective science. You'll need to know both the cost of grading a coin and the reputation of the service before proceeding.
Other People Are Reading
Instructions
-
-
1
Compare the reputations of the grading services that can certify your coin. While there are many grading services available to collectors, some tend to grade "higher" than others. In other words, you could send the same coin to two different services and have it come back with two different grades. With that in mind, consider that professional collectors and dealers consider two services to be the most objective in their grading: Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NCG). Coins certified by these two companies usually command a higher price from collectors.
-
2
Consider the cost of having your coins certified. Companies can charge from ten dollars and up to grade a coin, depending on how many coins you're having graded and the value of the coins. You'll also incur the expense of shipping and insuring your coins. Consult a current price guide to determine the ballpark value of your coin before having it certified; if the cost of certification is more than the coin is worth, it doesn't make much sense to send it to a grading service.
-
-
3
Send your coins to the service you've chosen. Most services offer discounts to collectors who pay a fee to become a "member." You can submit the coins yourself or have them submitted through an authorized dealer. Upon arrival at the certification service, your coin will be graded and registered with the company. Your coin will be placed in a protective holder commonly known as a "slab." Slabbed coins are often worth more than those that are not, as certification by a top rated company carries a good deal of weight.
-
4
Keep your certified coins (and the rest of your collection) in a safe place. Safety deposit boxes or fireproof safes are best. Never remove your coins from the protective slabs, as this can cause damage to the coin and lower its value.
-
1
Tips & Warnings
Subscribe to "Coin World" magazine. This is known as the "bible" of coin collecting and provides a wealth of information about the hobby. An online subscription costs only ten dollars a year and allows access to up-to-date coin-pricing guides.
When buying a coin that is certified, check to make sure it is registered with the grading service, as there are a lot of counterfeit coins on the market.
References
Resources
- Photo Credit Morgan Silver Dollar image by Steve Lovegrove from Fotolia.com
