As you may have noticed in our webshop, a lot of our items have been certified and slabbed by Numismatic Guaranty Company (NGC). It is arguably the world’s most trusted coin grading service and is used on countless pieces of shipwreck coins. Perhaps the most important reason that people opt for this service is the grade that a coin receives upon encapsulation. On this page we aim to give collectors more context on the NGC grading service and what a certain grade means for the quality and rarity of coins.
NGC uses the internationally accepted Sheldon grading scale of 1 to 70. The grade reflects the coin’s condition, where a grade of 1 means that the coin barely has any details, and a grade of 70 is the finest grade a coin can receive. A coin with a grade between 60 and 70 is categorised as Uncirculated, which is considered to be a very prestigious state. Needless to say, this is directly reflected on the value of a piece. In addition to the numerical grade, an encapsulated piece also receives a two-letter code preceding its grade. This two-letter code is meant to describe the overall appearance of the coin. In the table below we explain which lettercode belongs to which range of numerical grades.
| Numerical grade | Two-letter code | Description |
|---|---|---|
| 60 - 70 | MS | Mint State. Coins in this range show no wear and are typically very well struck, ranging from flawless under 5x magnification (70) to coins with minimal to moderate marks, hairlines, or abrasions (60). |
| 50 - 58 | AU | About Uncirculated. These coins exhibit slight wear on the highest points of the design, with complete details. The degree of wear increases gradually across the range, affecting less than half to more than half of the design. |
| 40 - 45 | XF | Extremely Fine. Coins in this range have complete details, with minor wear visible on the high points. |
| 20 - 35 | VF | Very Fine. Coins display nearly complete details with moderate to significant softness on the high points. Wear is visible throughout, and details vary from moderately sharp (35) to moderately soft (20). |
| 12 - 15 | F | Fine. Recessed areas show some softness, but letters and digits remain sharp and distinct. |
| 8 - 10 | VG | Very Good. Wear is visible throughout the design, and letters and digits show increasing softness. |
| 4 - 6 | G | Good. Peripheral letters and digits are mostly visible, though rims begin to show noticeable wear. |
| 3 | AG | About Good. Most letters and digits are readable, but rims are worn into the fields. |
| 2 | FR | Fair. Some design details are still visible, though rims are barely noticeable. |
| 1 | PR | Poor. The coin’s date and type can be identified, but the rims are flat or nearly flat. |
As is already visible in the table, not all grading numbers exist. This is done by NGC to emphasise the difference between certain classes. For example, to highlight the difference in quality between MS and AU, grade 59 is omitted. Another note on the table above, is that Mint State is sometimes called Proof (PF). This is the case if the coins were struck for collectors and not for circulation. For shipwreck pieces we usually see the MS label, as this concerns coins meant for circulation.
Occasionally, a coin will receive a star or a plus after their grade. A plus is used to indicate that the coin is in the higher end of its grade. To give an example, an MS64+ grade is to say that it is close to the quality of an MS65 coin. A star, on the other hand, is used for coins that have exceptional eye appeal, as NGC describes it. Needless to say, the designation of this distinction is dependent on quite some subjectivity. However, the star does not in any way reflect the quality of a coin.
It occurs frequently that a numismatic piece has certain surface conditions that are precluding it from the numerical grading. This can result from a variety of causes, such as sea salvaging, saltwater damage or improper cleaning. As these conditions make it difficult to identify the exact grade of a coin, a separate scale has been introduced for these instances: Details Grading. The table below describes the different types of Details Grading that NGC works with. The scale shows similarities with the numerical grading scale, although the finest category is called Uncirculated rather than Mint State.
| Grade | Description |
|---|---|
| UNC DETAILS / PROOF DETAILS | Unciruclated Details. A coin that shows no wear or evidence of circulation. |
| AU DETAILS | About Uncirculated Details. Traces of light wear are evident on the high points of the coin's design. |
| XF DETAILS | Extremely Fine Details. Design features are well defined, although light wear is evident throughout. |
| VF DETAILS | Very Fine Details. Major details of the coin are clear although wear is evident; the high points show moderate wear. |
| F DETAILS | Fine Details. Moderate wear on many elements with heavy wear on high points. The major design elements remain visible. |
| VG DETAILS | Very Good Details. Heavy wear flattens design elements, although major features are clearly outlined. |
| G DETAILS | Good Details. Design details are flat and visible in outline. Some portions of the design may be faint. |
| AG DETAILS | About Good Details. Design details are flat and appear in outline. Portions of the rim are lost to wear. |
| FR DETAILS | Fair Details. Coin is identifiable, design is flat and visible in outline, and rim is essentially indistinguishable from coin fields. |
| PR DETAILS | Poor Details. Heavily worn; only enough detail to identify the coin's date and type remains. |
Lastly, there is one more grade to cover: GENUINE. This adjectival grade is available when a submitter sends a large quantity of pieces to NGC and does not choose for a detailed numerical assessment, which is only possible for bulk submissions. A coin graded as GENUINE is authenticated by NGC, verifying its authenticity but not assigning a specific numerical or details grade to describe the coin’s condition or preservation. This grading is less commonly used and typically less popular among collectors, as it only guarantees authenticity without indicating the coin’s quality or wear. Collectors seeking detailed insights into a coin’s condition typically prefer Numerical or Details grading.
We hope this prompt NGC Guide has helped you in understanding some of the pieces we offer. If you have any remaining question, please do not hesitate to contact us.