Grading is a method of determining a coin’s relative state of preservation, using a system of standards and terminology generally accepted by the collecting community. Such well-defined standards were not always in place, and even after they were adopted, they continued to evolve and still do to this day.
Most numismatists agree that grading coins is an art and not a science. Since grading is subjective, naturally it is open to a certain amount of interpretation. Ken Bressett, noted numismatist and member of the American Numismatic Association Hall of Fame, believes that grading is quite simple. All that is required is, “a good light, good magnification and about 20 years of experience.”
The following definitions and images are representative of the American Numismatic Association (ANA) Grading Standards. While it is always best to view a coin first-hand, hopefully the following images will provide a useful guide to grading the popular Morgan Series. The ANA offers classes periodically in all phases of grading and counterfeit detection. Find more information on upcoming numismatic seminars and educational opportunities here.
The grading set below includes Poor through Mint State 67.
Click thumbnail images for enlarged lightbox views and descriptions.
To view the coins in 600dpi high-definition, click corresponding obverse and reverse links highlighted in orange.
Obverse: Hair line along face is clearly defined. Lower two cotton leaves are smooth but distinct from cap. Some wheat grains merge.
Reverse: One-quarter of eagle's right wing and edge of left wing are smooth. Head, neck and breast are flat and merge. Tail feathers are slightly worn.
Obverse: Wear shows on high points of hair from forehead to ear. Some strands are visible in hair above ear. There are smooth areas on cotton leaves and at top of cotton balls.
Reverse: Wear shows on leaves of wreaths and tips of wings. Only a few feathers are visible on breast and head, but they show clearly on the right wing.
Obverse: Wear shows on hair above date, forehead and ear. Lines in hair are well detailed. Flat spots are visible on edges of cotton leaves. Cheek is lightly worn.
Reverse: Almost all feathers are gone from the breast. Top of legs, wing tips, and feathers on head show wear. Talons are flat.
A strictly Uncirculated coin with no trace of wear, but with significant bag marks and/or abrasions in focal areas and field. Luster may be impaired. Eye appeal is poor.
A strictly Uncirculated coin with no trace of wear. May have a few heavy (or numerous light) marks in prime focal areas. Luster may be impaired. Eye appeal is unattractive.
A Mint State coin with attractive mint luster, but noticeable detracting contact marks or minor blemishes; some of which may be in prime focal areas. This grade is the benchmark "average" grade for Morgan dollars.
A
Mint State coin with full attractive mint luster. May have light scattered marks, some of which may be in prime focal areas. The eye appeal of this coin is pleasing.
No trace of wear. A few small marks may appear, but no distracting marks in the prime focal areas are present. Has full mint luster but may be unevenly toned.
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