The other day I picked up a copy of
GRADING COINS BY PHOTOGRAPHS by Q. David Bowers (published 2008 by Whitman Publishing). This is a book that I think should be in the library of practically every coin collector.
Similar to its predecessor,
Photograde, this 360-page spiral-bound book uses photographs to illustrate how to grade circulated US coins. (
The Official American Numismatic Association Grading Standards for United States Coins 6th Edition is much more useful for grading Mint State and Proof coins. Bowers was a contributor for the ANA Grading Standards.) But
GRADING COINS BY PHOTOGRAPHS goes well beyond where
Photograde left off. (Interestingly Bowers also wrote the narrative text for
Photograde.)
GRADING COINS BY PHOTOGRAPHS covers every series of US coins.
The photography is excellent - and in color. All coins are enlarged (except silver dollars which are shown actual size). Coin photographs are three sizes - 23 mm for small coins (e.g., Small Cents and 3cS), 30 mm for larger coins (e.g., Half Cents and Quarters), and 38.1 mm for the largest coins (e.g., Half Dollars and Double Eagles). These photos are far superior to those in the
ANA Grading Standards and far, far, far superior to those in
Photograde. Photos of a Mint State and Proof example of each coin are also included. (I could not find any credit for the photographer for this book. Whoever the photographer is does good work.)
Quote:
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The photographs shown are of actual coins in the marketplace, the majority of them attributed by PCGS and NGC. There are no composite photographs. In each case the obverse and reverse are from the same specimen.
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The section for each coin includes each of the following:
History - A brief history of the coin or changes made from one variety to another
Striking and Sharpness - An outline of striking characteristics and pointers of where to look for strong or weak strike.
Availability - A quick guide to overall availability of the coins in various grades. For some series availability of certain dates and mintmarks is given.
Grading
Grading of Mint State coins is lumped into one all-inclusive paragraph. This is why the
ANA Grading Standards is a much better resourse for grading Mint State and Proof coins.
Grading of circulated coins is broken down into the following grades:
AU-50, 53, 55, 58
EF-40, 45
VF-20,30
F-12, 15
VG-8, 10
G-4, 6
AG- 3
For each grade there is a paragraph describing the Obverse and Reverse characteristics as well as Obverse and Reverse photos. Explanations are given describing the differences between the numerical grades within some grades (e.g., the difference between AU-53 and AU-58).
Each coin section ends with a brief section on Proof coins. Again,
ANA Grading Standards will be much more helpful in grading Proof coins.
This book also has six other chapters that have very, very good information:
Chapter 1 - The Importance of Grading
Covered in this chapter are:
Grading As A Key To Value - why grading is often the most important factor affecting the price of a coin.
Prices And Grades In The Marketplace - points out how a small change in grade can cause a huge change in price
Case Study: The 1884-CC Dollar - shows how rarity in a grade does not necessarily translate to an increase in value
Your Secret To Success - don't automatically accept the grade on a slab but learn to grade a coin for yourself and look for opportunities
Chapter 2 - History Of Grading
Covered in this chapter are:
Grading In The Early Days - the origins of coin grading
Grading Techniques Develop - the first grading standards published by the ANA
Into The 20th Century - proposed refinements to ANA grading standards in 1913
Grading Evolves Further - Brown & Dunn, Photograde and Official ANA Grading Standards are printed
Modern Alphanumerical Grading - the 70-point grading scale comes into general use
Certification Services - ANACS, PCGS, NGC and others appear on the scene and change coin collecting forever
Chapter 3 - Expert Techniques In Grading
Covered in this chapter are:
Getting Started - everyone can learn to grade coins if they learn grading techniques and apply that knowledge
Pick A Favorite Series - learn to grade a series you like and are (or will become) familiar with
Viewing Coins For Grading - illumination, magnification and technique
A Helper Would Be Nice - find an experienced numismatist to help you along (e.g., a local coin dealer or coin club member)
Practice Your Skills - practice makes perfect
Everybody's Favorite Subject! - grading is subjective; experienced graders will not always agree on a grade
Chapter 4 - Understanding The Surfaces Of Coins
Covered in this chapter are:
The Nature Of Metals - how different metals react with atmosphere, liquids, heat, chemicals, etc.
Albums, Panels, and Folders - the history and evolution of these coin storage mediums
Dipped And Cleaned Coins - the sad fact is that until recent times coin cleaning was encouraged
Popular Procedures - conservation methods (if you must clean your coins)
Restoring Cleaned Coins - not a "how to" but rather lists some of the methods used
Worthwhile Conservation - a little advice on when conservation may be appropriate
Summary - once cleaned you cannot unclean a coin
Chapter 5 - Smart Grading And Buying
Covered in this chapter are:
The Risk Of Becoming Spoiled! - learn to spot quality (or lack of quality) within a grade
Beyond The Grade - quality is affected by strike, planchet defects, die state, etc.
Where The Money Is! - look for details (e.g., Full Bands, Full Steps, Full Head, Full Bell Lines, etc.)
Where The Money Could Be For You ! - see above
Bill Fivaz Comments - Fivaz discusses strike
Adjustment Marks And Planchets - adjustment marks can lower the value of a coin
High End And Low End - look for quality within a grade
An Ideal Holder? - Bowers' pipe dream (what he would like to see on TPG's inserts)
Chapter 6 - How To Use This Book
As the title suggests, this chapter explains how this book is intended to be used.
This is a well-written book with a wealth of information for any coin collector. At $19.95 it is a steal. I highly recommend this book for anyone wanting to learn more about grading US coins.
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