Coins have been graded for quite a while. The early coin grading was not standardized, however, it was still classified as good moderate and poor. With the growth of the coin collection industry certification became a standard. Several standardized grading systems were developed in order to meet the requirements of grading a collected coin.
In general, coin grades evaluate the quality of a coin. The quality of a coin depends on several factors. That is why many aspects are kept in consideration like the luster of the coin, its color, strike and preservation quality. All these factors together determine the value of a collected coin.
Sheldon grading system was developed by Dr. William Herbert Sheldon. This was the first standard grading system that graded coins from 1 to 70 based on their quality. The grades are conclusively divided into Good, Very Good, Fine, Very Fine, Extremely Fine, About Uncirculated, Mint State (60 to 65) and Mint State (66-70).
Grading the coins has been a very important step for coin collectors as it allowed for the proper pricing of coins. Now, that the coin collection market has grown so much with even online websites like eBay providing a venue for buy and sale, as a collector you must know what your coins are worth.
Coins can be graded by employing professionals to do so. You will have to pay for them though. Alternately, you could also grade your coin yourself. For this, you need to learn how the grading system works. In addition, you also need to be unbiased while dealing with your coins and place the right value on them.
Nowadays, coin grading apps and online services can assist you with coin grading. While your own grading might not be that perfect, it can still help you put a price tag on your coin. Getting the right value for your coin is just as important as collecting it. If you are hiring a professional, make sure they are real professionals and not scams.